Barclays 1 year flexible fixed rate ISA

refluxer

susanann_2 said:

Am confused with their monthly interest vs annually. They quote 4% for both on the 1yr fix surely monthly should be less if it’s not you must be better to select monthly and invest it in a regular saver each month. 

It'll be 4% AER for each option but the gross interest rates will be different. If you get monthly interest paid away (if that's possible) then you'll only achieve the (lower) gross rate and not the AER.

Snapdragon

susanann_2 said:

Am confused with their monthly interest vs annually. They quote 4% for both on the 1yr fix surely monthly should be less if it’s not you must be better to select monthly and invest it in a regular saver each month. 

Isn't one of the advantages of the annual interest on the cash ISA that it is within the ISA and sheltered from tax? With interest rates having risen significantly recently, a lot of people are having to think about the amount they will earn in interest in the next tax year, when they may have only £500 or £1000 allowance, which is quite achievable with a few regular savers. If it was paid away monthly and used to gain more interest, this might cause them to pay tax with no actual gain. 

kora_2

Hi all,

This may help some of you.

Like others on this forum, I thought it was annoying that you had to be a Barclay's customer to open the 1yr fixed term at 4% and i had seen posts saying that there was a wait to get one opened at a branch (and the fact i couldnt be bothered calling my branch or visiting to be told the same). So I downloaded the Barclays app and applied for the basic bank account using my Passport ID and a small video face verification. The account was literally opened instantly, I then transferred £1 from my nominated account to check it went through ok. Then I applied for the 1yr fixed ISA, which again was opened immediately which i funded with the max 20k. Pretty straightforward and all done within 45 mins.

pecunianonolet

kora_2 said:

Hi all,

This may help some of you.

Like others on this forum, I thought it was annoying that you had to be a Barclay's customer to open the 1yr fixed term at 4% and i had seen posts saying that there was a wait to get one opened at a branch (and the fact i couldnt be bothered calling my branch or visiting to be told the same). So I downloaded the Barclays app and applied for the basic bank account using my Passport ID and a small video face verification. The account was literally opened instantly, I then transferred £1 from my nominated account to check it went through ok. Then I applied for the 1yr fixed ISA, which again was opened immediately which i funded with the max 20k. Pretty straightforward and all done within 45 mins.

Technically the easiest option but not everyone want another current account or is able to open one easily. 

kora_2

pecunianonolet said:

kora_2 said:

Hi all,

This may help some of you.

Like others on this forum, I thought it was annoying that you had to be a Barclay's customer to open the 1yr fixed term at 4% and i had seen posts saying that there was a wait to get one opened at a branch (and the fact i couldnt be bothered calling my branch or visiting to be told the same). So I downloaded the Barclays app and applied for the basic bank account using my Passport ID and a small video face verification. The account was literally opened instantly, I then transferred £1 from my nominated account to check it went through ok. Then I applied for the 1yr fixed ISA, which again was opened immediately which i funded with the max 20k. Pretty straightforward and all done within 45 mins.

Technically the easiest option but not everyone want another current account or is able to open one easily. 

Yes I get that but for those that do want the ISA there is a non credit check basic current account (could also come in handy as a donor for a switch deal at a later date).

BillTee

pecunianonolet said:

kora_2 said:

Hi all,

This may help some of you.

Like others on this forum, I thought it was annoying that you had to be a Barclay's customer to open the 1yr fixed term at 4% and i had seen posts saying that there was a wait to get one opened at a branch (and the fact i couldnt be bothered calling my branch or visiting to be told the same). So I downloaded the Barclays app and applied for the basic bank account using my Passport ID and a small video face verification. The account was literally opened instantly, I then transferred £1 from my nominated account to check it went through ok. Then I applied for the 1yr fixed ISA, which again was opened immediately which i funded with the max 20k. Pretty straightforward and all done within 45 mins.

Technically the easiest option but not everyone want another current account or is able to open one easily. 

I opened a current account online but keep getting a message saying I don't have an account from which I can transfer in.  I put £100 into my current account.  I also tried to open it as new, rather than a transfer and it still says I don't have an account.  Any suggestions. very frustrated going through the rigmarole of opening yet another current a/c for what appears to be nought. No barclays branch nearby.

soulsaver

BillTee said:

pecunianonolet said:

kora_2 said:

Hi all,

This may help some of you.

Like others on this forum, I thought it was annoying that you had to be a Barclay's customer to open the 1yr fixed term at 4% and i had seen posts saying that there was a wait to get one opened at a branch (and the fact i couldnt be bothered calling my branch or visiting to be told the same). So I downloaded the Barclays app and applied for the basic bank account using my Passport ID and a small video face verification. The account was literally opened instantly, I then transferred £1 from my nominated account to check it went through ok. Then I applied for the 1yr fixed ISA, which again was opened immediately which i funded with the max 20k. Pretty straightforward and all done within 45 mins.

Technically the easiest option but not everyone want another current account or is able to open one easily. 

I opened a current account online but keep getting a message saying I don't have an account from which I can transfer in.  I put £100 into my current account.  I also tried to open it as new, rather than a transfer and it still says I don't have an account.  Any suggestions. very frustrated going through the rigmarole of opening yet another current a/c for what appears to be nought. No barclays branch nearby.

May need to wait a working day in case there's overnight processes run for new accounts.

BillTee

soulsaver said:

BillTee said:

pecunianonolet said:

kora_2 said:

Hi all,

This may help some of you.

Like others on this forum, I thought it was annoying that you had to be a Barclay's customer to open the 1yr fixed term at 4% and i had seen posts saying that there was a wait to get one opened at a branch (and the fact i couldnt be bothered calling my branch or visiting to be told the same). So I downloaded the Barclays app and applied for the basic bank account using my Passport ID and a small video face verification. The account was literally opened instantly, I then transferred £1 from my nominated account to check it went through ok. Then I applied for the 1yr fixed ISA, which again was opened immediately which i funded with the max 20k. Pretty straightforward and all done within 45 mins.

Technically the easiest option but not everyone want another current account or is able to open one easily. 

I opened a current account online but keep getting a message saying I don't have an account from which I can transfer in.  I put £100 into my current account.  I also tried to open it as new, rather than a transfer and it still says I don't have an account.  Any suggestions. very frustrated going through the rigmarole of opening yet another current a/c for what appears to be nought. No barclays branch nearby.

May need to wait a working day in case there's overnight processes run for new accounts.

Thanks, I opened the account a week ago but hadn't transferred in funds until today. I relented and downloaded the app: ISA opened and tfr request appears to have been accepted. 

spee101

BillTee said:

soulsaver said:

BillTee said:

pecunianonolet said:

kora_2 said:

Hi all,

This may help some of you.

Like others on this forum, I thought it was annoying that you had to be a Barclay's customer to open the 1yr fixed term at 4% and i had seen posts saying that there was a wait to get one opened at a branch (and the fact i couldnt be bothered calling my branch or visiting to be told the same). So I downloaded the Barclays app and applied for the basic bank account using my Passport ID and a small video face verification. The account was literally opened instantly, I then transferred £1 from my nominated account to check it went through ok. Then I applied for the 1yr fixed ISA, which again was opened immediately which i funded with the max 20k. Pretty straightforward and all done within 45 mins.

Technically the easiest option but not everyone want another current account or is able to open one easily. 

I opened a current account online but keep getting a message saying I don't have an account from which I can transfer in.  I put £100 into my current account.  I also tried to open it as new, rather than a transfer and it still says I don't have an account.  Any suggestions. very frustrated going through the rigmarole of opening yet another current a/c for what appears to be nought. No barclays branch nearby.

May need to wait a working day in case there's overnight processes run for new accounts.

Thanks, I opened the account a week ago but hadn't transferred in funds until today. I relented and downloaded the app: ISA opened and tfr request appears to have been accepted. 

Hi, 

I am not an existing Barclays customer so will need to open an account. I only want the account as it enables me to access the ISA. Can I ask what account you went for? I am unsure whether to go for the basic ‘Everyday Banking - Barclays Bank Account’ or ‘Basic Banking - Barclays Basic Current Account’ like a previous poster, however, seemingly you’re only eligible for the latter if you don’t pass their credit check which I will. 

TIA 

subjecttocontract

I've also  just opened a Barclays current account. I went for the basic account with no minimum monthly pay in or s/order requirement. I like the look of the rainy day saver at 5% so will do the necessary to qualify for that.