The Top Regular Savers Discussion Thread

jaypers

friolento said:

masonic said:

Born2Save_3 said:

The BBC are stating 

"In a statement, Barclays said: "We're in direct contact with HMRC and they are aware of the technical issues with our system."

It added: "We will ensure that no customer is left out of pocket because of delayed payments caused by this incident.""

https://www.bbc.co.uk/news/articles/cd9qzg92g72o

I'm waiting on £10k+ from GateHouse, that should have arrived on Friday and as of yet, has not.

I'm taking screen shots of GateHouse and my receiving bank.

Any suggestions on the best way to prepare for a compensation claim, in this case ?

This would be for loss of interest and for the inability to provide a service within an expected time frame, maybe more ?

Unless you were transferring to a linked account you hold with Barclays, it would be Gatehouse who you'd need to complain to, and Gatehouse has not yet made a similar statement. To be clear you still have a complaint against Gatehouse, but they may not take quite the same stance as Barclays.

Providing you have evidence of the rate payable on the money in the savings account you intended to move the money to, then you ought to be able to claim for the difference in rates between the two accounts over the number of days until your transfer is actually received, or for the whole rate if they do not agree to pay normal interest for the period they were unable to send the money. If this £10k+ was being transferred to get a better rate following the rate reduction of the Gatehouse product, then I do not think there will be a "maybe more" limb to your complaint.

The money was debited from the Gatehouse account on Jan 31, so there will now be at least 2 days  of liost interest on it as the money is in the ether. That’s at least £3 lost interest in my case (nearly £12k involved), using just the Gatehouse 4.75% rate. A tad more if I use the rates of the accounts the money is destined to. 

But most of my transfers to the higher rate accounts happen by SO, and SOs don’t get executed until the early hours of tomorrow. Some of my money is also earmarked for DDs - Council Tax, Credit Card payments, Utilities. So as long as the Gatehouse money arrives sometime today, I am in no worse situation than I would have been anyway. Even if I was, I would probably not raise a complaint for £3. 
 

It will become a bigger issue if the money doesn’t arrive today as my SOs and DDs will fail at the first attempt in the early hours of tomorrow. There are then still a few hours before my bank will retry the SOs and DDs sometime after 14:00 tomorrow. Should the Gatehouse money have arrived by then, I am financially no worse off than I would have been had it been in my current account on Jan 31. 

If the Barclays delay continues beyond 14:00 tomorrow, it’s turning from a nuisance into a real issue. Apart from loss of interest, I will then have to deal with missed DDs, associated penalties, and credit file markers. In this case, I will definitely raise a complaint with Gatehouse. As a customer of Barclays, Gatehouse would be able to claim back from Barclays any compensation Gatehouse need to pay me. I would also hold Gatehouse responsible for the removal of any late payment markers from my credit files. I pray to heaven that none of this will become necessary but I think it might be possible that Barclays is in a TSB-like meltdown and the outage could continue for days 😩😩😩

I had a Virgin Money transfer of interest delayed by about 24 hours. It should have been received on Friday but landed during the course of yesterday.

Did my transfers to Principality yesterday evening and they were all processed within 2 hours, as per the norm. Principality use Barclays as their clearing Bank and the money is held with them.

Think if you have a cause to complain, raise one officially once their technical issues have been confirmed as resolved.

masonic

friolento said:

masonic said:

Born2Save_3 said:

The BBC are stating 

"In a statement, Barclays said: "We're in direct contact with HMRC and they are aware of the technical issues with our system."

It added: "We will ensure that no customer is left out of pocket because of delayed payments caused by this incident.""

https://www.bbc.co.uk/news/articles/cd9qzg92g72o

I'm waiting on £10k+ from GateHouse, that should have arrived on Friday and as of yet, has not.

I'm taking screen shots of GateHouse and my receiving bank.

Any suggestions on the best way to prepare for a compensation claim, in this case ?

This would be for loss of interest and for the inability to provide a service within an expected time frame, maybe more ?

Unless you were transferring to a linked account you hold with Barclays, it would be Gatehouse who you'd need to complain to, and Gatehouse has not yet made a similar statement. To be clear you still have a complaint against Gatehouse, but they may not take quite the same stance as Barclays.

Providing you have evidence of the rate payable on the money in the savings account you intended to move the money to, then you ought to be able to claim for the difference in rates between the two accounts over the number of days until your transfer is actually received, or for the whole rate if they do not agree to pay normal interest for the period they were unable to send the money. If this £10k+ was being transferred to get a better rate following the rate reduction of the Gatehouse product, then I do not think there will be a "maybe more" limb to your complaint.

The money was debited from the Gatehouse account on Jan 31, so there will now be at least 2 days  of liost interest on it as the money is in the ether. That’s at least £3 lost interest in my case (nearly £12k involved), using just the Gatehouse 4.75% rate. A tad more if I use the rates of the accounts the money is destined to. 

But most of my transfers to the higher rate accounts happen by SO, and SOs don’t get executed until the early hours of tomorrow. Some of my money is also earmarked for DDs - Council Tax, Credit Card payments, Utilities. So as long as the Gatehouse money arrives sometime today, I am in no worse situation than I would have been anyway. Even if I was, I would probably not raise a complaint for £3. 
 

It will become a bigger issue if the money doesn’t arrive today as my SOs and DDs will fail at the first attempt in the early hours of tomorrow. There are then still a few hours before my bank will retry the SOs and DDs sometime after 14:00 tomorrow. Should the Gatehouse money have arrived by then, I am financially no worse off than I would have been had it been in my current account on Jan 31. 

If the Barclays delay continues beyond 14:00 tomorrow, it’s turning from a nuisance into a real issue. Apart from loss of interest, I will then have to deal with missed DDs, associated penalties, and credit file markers. In this case, I will definitely raise a complaint with Gatehouse. As a customer of Barclays, Gatehouse would be able to claim back from Barclays any compensation Gatehouse need to pay me. I would also hold Gatehouse responsible for the removal of any late payment markers from my credit files. I pray to heaven that none of this will become necessary but I think it might be possible that Barclays is in a TSB-like meltdown and the outage could continue for days 😩😩😩

I think the chances of money turning up later today are slim. Payments via Barclays sent yesterday all seem to have landed without issue. It is rather more likely the money will be credited early on Monday, perhaps after some brief manual intervention by Gatehouse.

There was a known cause of the TSB meltdown, though that cause was not something easily rectified. However, in the case of Barclays, there doesn't seem to be any known reason for the current issues, which surprises me. They must know internally what is responsible.

ToastLady

jaypers said:

friolento said:

masonic said:

Born2Save_3 said:

The BBC are stating 

"In a statement, Barclays said: "We're in direct contact with HMRC and they are aware of the technical issues with our system."

It added: "We will ensure that no customer is left out of pocket because of delayed payments caused by this incident.""

https://www.bbc.co.uk/news/articles/cd9qzg92g72o

I'm waiting on £10k+ from GateHouse, that should have arrived on Friday and as of yet, has not.

I'm taking screen shots of GateHouse and my receiving bank.

Any suggestions on the best way to prepare for a compensation claim, in this case ?

This would be for loss of interest and for the inability to provide a service within an expected time frame, maybe more ?

Unless you were transferring to a linked account you hold with Barclays, it would be Gatehouse who you'd need to complain to, and Gatehouse has not yet made a similar statement. To be clear you still have a complaint against Gatehouse, but they may not take quite the same stance as Barclays.

Providing you have evidence of the rate payable on the money in the savings account you intended to move the money to, then you ought to be able to claim for the difference in rates between the two accounts over the number of days until your transfer is actually received, or for the whole rate if they do not agree to pay normal interest for the period they were unable to send the money. If this £10k+ was being transferred to get a better rate following the rate reduction of the Gatehouse product, then I do not think there will be a "maybe more" limb to your complaint.

The money was debited from the Gatehouse account on Jan 31, so there will now be at least 2 days  of liost interest on it as the money is in the ether. That’s at least £3 lost interest in my case (nearly £12k involved), using just the Gatehouse 4.75% rate. A tad more if I use the rates of the accounts the money is destined to. 

But most of my transfers to the higher rate accounts happen by SO, and SOs don’t get executed until the early hours of tomorrow. Some of my money is also earmarked for DDs - Council Tax, Credit Card payments, Utilities. So as long as the Gatehouse money arrives sometime today, I am in no worse situation than I would have been anyway. Even if I was, I would probably not raise a complaint for £3. 
 

It will become a bigger issue if the money doesn’t arrive today as my SOs and DDs will fail at the first attempt in the early hours of tomorrow. There are then still a few hours before my bank will retry the SOs and DDs sometime after 14:00 tomorrow. Should the Gatehouse money have arrived by then, I am financially no worse off than I would have been had it been in my current account on Jan 31. 

If the Barclays delay continues beyond 14:00 tomorrow, it’s turning from a nuisance into a real issue. Apart from loss of interest, I will then have to deal with missed DDs, associated penalties, and credit file markers. In this case, I will definitely raise a complaint with Gatehouse. As a customer of Barclays, Gatehouse would be able to claim back from Barclays any compensation Gatehouse need to pay me. I would also hold Gatehouse responsible for the removal of any late payment markers from my credit files. I pray to heaven that none of this will become necessary but I think it might be possible that Barclays is in a TSB-like meltdown and the outage could continue for days 😩😩😩

I had a Virgin Money transfer of interest delayed by about 24 hours. It should have been received on Friday but landed during the course of yesterday.

Did my transfers to Principality yesterday evening and they were all processed within 2 hours, as per the norm. Principality use Barclays as their clearing Bank and the money is held with them.

Think if you have a cause to complain, raise one officially once their technical issues have been confirmed as resolved.

I'm still waiting for a transfer initiated before 11 a.m. on Thursday from Vanquis, which I expected close of day on Friday for funding RS on 1st which I do manually. 
I've just used funds from elsewhere for now, so will have to juggle things around when Barclays mess is sorted out. It's only an inconvenience for me, but those relying on Barclays for putting food on the table and other important bills, it must be a real worry.
It's really strange though that payments to Principality and Skipton have gone through, but am relieved that they have.
End of day, just goes to show that it's better not to have eggs all in one basket.

[Deleted User]

cricidmuslibale said:

[Deleted User] said:

For my latest round of funding my RS I need to withdraw some money from Skipton. I take it their services might be affected by the Barclays outage?

@Hichandrossi  Yes, withdrawals from Skipton are affected by the the Barclays outage, unfortunately. I made a Faster Payment withdrawal of approx. £2k from Skipton midway through Friday afternoon in order to fund a handful of Regular Savers that credit payments on non-working days, yesterday. Unfortunately that money has still not reached the current account from which I make most of my RS deposits and so it will probably be Monday morning at the earliest now before I can start funding any of my Regular Savers this month. I guess I'll just have to be patient and accept a small loss (= a few days) of interest for those Regular Savers which could or rather should have been funded yesterday.

Ok, thankyou. It dawned on me when I create a new payee Skipton comes up as Barclays so I thought hmmm.

Thanks again.

Bigwheels1111

This Barclays issue has not affected me.

But the TSB issues did.

One thing I learned from my complaint was they paid X, per issue.

Need to visit bank paid X

Need to make calls to then paid X

The big one was using another bank etc to pay bills, I got over £500 for this.

£50 per time.

friolento

According to Sky News at 10am, Barclays have said the problem is now fixed.

Someone is not telling the truth, and it’s not Sky 🤬

jameseonline

JamesRobinson48 said:

jameseonline said:

surreysaver said:

ForumUser7 said:

simonsmithsays said:

ForumUser7 said:

Cambridge Extra Reward RS

Aware debit card deposits into this account can be made online, but looked on the portal and can’t figure out how. Can anyone advise please? Thank you

In the App you select the CBS account and then hit Payments.

Doesn’t seem to be an option for me - weird!

What I do is use my debit card to put £300 into Your Saver, then transfer that £300 into the Regular Saver. Just remember Your Saver only allows one transfer a month 

I didn't realise the transfer once a month thing,  they credited interest for me end of last year of £4.56, they also according to the app did a product switch & did another interest payment  on 3rd January of 2p.

So yeah got the £4.56 out on 1st Jan, & was left confused in regards to everything else because I didn't request a product switch, why did I get an extra 2p so soon after the £4.56?, why couldn't I transfer out again last month🤣

If anyone can help with my confusion that would be great, alternatively I might have to ring them.

Cambridge BS Your Saver: Exact same thing happened to me and my wife. Maybe some kind of error by the BS. I'll be interested to hear what you learn from phoning them. Although arguably it's not really a matter for this RS thread.

I know but the conversation about that Cambridge account came up so yeah I thought I'd derail/take the opportunity to ask.

On another note does anyone know why the new look Cambridge app doesn't allow you to apply for Regular Savings accounts despite being eligible?

jameseonline

Forgot to fund my Skipton Member Regular Saver the other day so did that earlier & it's showing up ☺️

jameseonline

In terms of Regular Savings providers which use Barclays then?, is it Cambridge, Gatehouse, Principality & Skipton or are there others?

Kim_13

ForumUser7 said:

simonsmithsays said:

ForumUser7 said:

Cambridge Extra Reward RS

Aware debit card deposits into this account can be made online, but looked on the portal and can’t figure out how. Can anyone advise please? Thank you

In the App you select the CBS account and then hit Payments.

Doesn’t seem to be an option for me - weird!

Select Transfer from the options for the account you’ve made the debit card payment into.

I haven’t tested this since the app was updated as I only have the £100 minimum in it, but it looks like it would work and auto selects the Extra Reward Regular as the destination account as it is my only other account with them.