We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Barclays "managed rate".
omits
Posts: 100 Forumite
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.
0
Comments
-
What did Barclays say when you asked them?0
-
Is it the Loyalty Reward ISA?0
-
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 helpsThank you all for helping me make my day by saving money!0 -
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."0 -
Bargains_for_me wrote: »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.0
This discussion has been closed.
Categories
- All Categories
- 346.5K Banking & Borrowing
- 251.3K Reduce Debt & Boost Income
- 451.3K Spending & Discounts
- 238.7K Work, Benefits & Business
- 614.1K Mortgages, Homes & Bills
- 174.7K Life & Family
- 251.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards