Barclays tax beater isa

handheld

Having invested in Barclays tax beater isa I am looking to change to a better isa.
My question is when to change form Barclays to say the Icesave isa,I have 6k to use
any thoughts would be most welcome.

10_66

As the Tax Beater ISA gets the 1% bonus (6.76% AER) until the anniversary of when it was opened, and the Icesave ISA is only 6.10%, I'd be inclined to leave it in Barclays until the bonus expires, unless something better comes along inbetween time.

handheld

Thanks you stated what I was thinking but not sure.
Wait April when bonus expires.

bristolleedsfan

10_66 wrote: »

As the Tax Beater ISA gets the 1% bonus (6.76% AER) until the anniversary of when it was opened, and the Icesave ISA is only 6.10%, I'd be inclined to leave it in Barclays until the bonus expires, unless something better comes along inbetween time.

Whats your opinion on when the bonus comes to an end.

My opinion is date that ISA account was opened. ( official date of opening)

Someone else on here has a belief that it ends on date that interest was backdated to.

I asked the question through Barclays site last week, reply was to phone them up, i replied saying the reason i emailed was that i wanted a written reply by email, answer from Barclays was that its ISA section has no external email address and so I was given Barclays Postal Address. :wall:

10_66

I’ve had two different answers from Barclays (none in writing though). The first said it was on the anniversary of when interest was backdated to, and the second said it was on the anniversary of when the account was opened. The latter makes more sense, as you’d originally thought. On each occasion the person I spoke to had to confer with someone else. Maybe they’ll all be singing from the same hymn sheet closer to the expiry date of the bonus?

bristolleedsfan

10_66 wrote: »

I’ve had two different answers from Barclays (none in writing though).
quote]


Thats y i didnt bother ringing them up.


Ill stick a note in the post to them on monday. ( im certain just need to stick word freepost on envelope )

handheld

I quote from a letter I received when the account was opened,

" The bonus will be paid for 12 months from the date you open your account."

bristolleedsfan

handheld wrote: »

I quote from a letter I received when the account was opened,

" The bonus will be paid for 12 months from the date you open your account."

I posted that answer a week or so ago and somebody bit back with "are you sure, cos i asked Barclays and they told me was 12 months from when the interest was backdated to "

Joe_L

I also opened a Tax Buster ISA with Barclays last year in March. I've just now got a letter from them with heaps of small print and stinking of obfuscation, so I want to move it as soon as my year is up. Not being too knowledgeable about financial matters, hence my fear of small print, I'd like to know how I go about moving it to another ISA.

bristolleedsfan

Joe_L wrote: »

I also opened a Tax Buster ISA with Barclays last year in March. I've just now got a letter from them with heaps of small print and stinking of obfuscation, so I want to move it as soon as my year is up. Not being too knowledgeable about financial matters, hence my fear of small print, I'd like to know how I go about moving it to another ISA.

Complete an ISA application form and ISA transfer form from your new chosen provider , give/post the forms to your new/chosen provider , any further action required by yourself will be detailed to u by your existing/new provider.

Your new provider may need ID depending on whether you have an existing account and/or whether your ID can be verified electronically.


http://www.moneyfacts.co.uk/savings/bestbuys/mini-cash-isas-accepting-transfers-in.aspx

http://www.moneyfacts.co.uk/savings/bestbuys/fixed-rates-isa.aspx

What was the purpose of the letter that Barclays sent to u out of interest ?????????????????

Joe_L

bristolleedsfan wrote: »

What was the purpose of the letter that Barclays sent to u out of interest ?????????????????

It was a 'Important changes' letter. It talked about coming changes to ISA's allowances, reclassification, etc. And then it mentioned changes to 'Variation' and 'Using information'. From what I could make out from the 'variation' bit, they can make changes to terms and charges at any time. That was enough for me.