Barclays Tax Beater ISA - weird interest payments

Madgpol

Just a heads up. I received my 6 months statement like many the other day. I noticed the £3000 for this tax year was not applied to the account until approx 4 weeks after I posted the application. A quick call to Barclays today has resulted in the interest being backdated to the date they received the application and not the date they applied it to their systems :j .

It may only be another £22 but why should we be penalised for Barclays inability to process the applications on time.

Good luck.

Madgpol

venice04

ukdutypaid wrote: »

This is for a specific account. We don't know if it will be available fron April 08, whereby the limit increases to 3,600...
And no the interest would not be the same in the two scenarios, you indicate.

Think about it, a bit longer..... 250 per month vs 3,000 from day one......, or the last day, as you seem to be indicating.
What do they teach people in school these days.... It's not "getting to grips with savings". Never mind investments!! It's getting to grips with basic maths, that's your issue there.
Granted as for working the actual amounts out..... Excel and a bit of trial and error. It ain't rocket science.

I don't think your response is within the spirit of the site. I thought we're meant to be helping each other, not putting each other down!! Being an experienced MSE you should be familiar with forum etiquette, but seems as if you need a reminder....therefore, please refer to the column on the right hand side of this page.
I only asked the question after an employee at my local bank left me a bit confused.