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Barclays "managed rate".

I have an ISA reached the end of it's term for current rate and told it was going on the "Barclays managed rate". I have not found what this rate is currently set at. Anyone know more about this? Thanks.

Thanks for your time.

Comments

  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    What did Barclays say when you asked them?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Is it the Loyalty Reward ISA?
  • Condition 13 of the Retail Customer Agreement explains what we mean by ‘Barclays tracker rate’ and ‘Barclays managed rate’, and how changes can be made to those rates.

    Hope this helps
    Thank you all for helping me make my day by saving money!
  • They really need to get their act together about the Loyalty Reward ISA, the rate info is still referring to a rate "up to 31 March" and we are 10 days into April:(. That said, their complaints dept has confirmed the rate at 2.01% still:T...we shall see.

    "Loyalty Reward ISA



    Account opened Balance Tax-free rate pa% AER% All accounts £1+ 2.01 2.03
    For information on previous rates on this account, including any introductory bonuses that may have been applied, please see the previous interest rate tab.
    Until 31 March 2014, the interest rate on a Loyalty Reward ISA will be a ‘Barclays tracker rate’, and after that date it will convert to a ‘Barclays managed rate’. For the first 12 months after you open the account, the interest rate will track at a margin of 1.76% over the Bank of England Bank Rate, and this rate includes a fixed bonus of 0.25% pa for those 12 months. After this, until 31 March 2014, the interest rate will track at a margin of 1.51% over the Bank of England Bank Rate. Any changes in the Bank Rate (either up or down) will be passed on no later than 30 days after the Bank of England announcement. Condition 13 of the Retail Customer Agreement explains what we mean by ‘Barclays tracker rate’ and ‘Barclays managed rate’, and how changes can be made to those rates."
  • omits
    omits Posts: 100 Forumite
    They really need to get their act together about the Loyalty Reward ISA, the rate info is still referring to a rate "up to 31 March" and we are 10 days into April:(. That said, their complaints dept has confirmed the rate at 2.01% still:T...we shall see.

    Hmm, that looks too good to be true. If they give us that much they will have to stint on their bonuses. I will keep an eye on the monthly statement and work it out from there.

    Thanks for your time.
This discussion has been closed.
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