Barclays cash ISA

path20

I wish I could say I was pleased with the way Barclays handle ISA applications and complaints.I could not contact the ISA team at Barclays after hanging on for 30 mins+ on two occasions.I went into my branch as I am a Barclays account holder.I wanted to top up my last years Isa.I filled in the necessary form and the branch sent it off.At the end of the week the money still hadn't been transferred from my current account.As it was the last day for the 2007/8 Isa transfers I rang to check(again holding on for 35 mins) if they had received the form from the bank.No. they hadn't seen it but they would transfer the money(over £2000).Eventually a week later the money was transferred but to the wrong ISA. They had transferred it to the 2006/7 Isa just paying over 4%.The number of the Isa I wanted it transferred to was quoted to me at the time of transfer.A mistake had been made by the ISA team.I am now left with 2 Isas with the wrong amount of money in them and I cannot touch any of it until it is sorted out. I have been told this morning it could be 8 weeks.What a shambles!!!! Surely they should have learnt lessons from last years shambles as similar things happened then. They just couldn't cope.Why don't they look ahead, anticipate that there is going to be a very big demand and employ extra clerical staff to cope...be it only temporary. That is what happens in the retail trade at Christmas. They take on extra staff.With Barclays it is very difficult to speak to anybody on the ISA team. Even after hanging onto the phone, at our expense, the excuse is ''We are very busy''. Well surprise, surprise, so am I and many other of your customers.They too are busy working for money to put into your bank. WAKE UP BARCLAYS and get your ISA team to order. It is just not good enough.

Lokolo

path20.

To be honest all I am going to say is blame yourself.

You expect everythings to go right ON THE LAST DAY?

Ok lets think about this, do you book a holiday the day before you go? No.
Do you buy a car the day before you start a new job which requires one? No.
Do you go and buy xmas presents on xmas eve? No.

Have I made myself clear?

pavlovs_dog

i want to transfer my 2007 barclays ISA to my new provider for 2008

i 'opened' (as in completed the paperwork) the account in branch a few days into the new tax year, but my account wasnt actually opened properly until a month later due to the huge backlog. any idea whether the bonus rate will mature on the date of my application, or the date they eventually formally opened the account? i havent heard anything from them so im guessing its likely to be the latter :rolleyes: but just wondered if anyone can confirm?

bristolleedsfan

pavlovs_dog wrote: »

i want to transfer my 2007 barclays ISA to my new provider for 2008

i 'opened' (as in completed the paperwork) the account in branch a few days into the new tax year, but my account wasnt actually opened properly until a month later due to the huge backlog. any idea whether the bonus rate will mature on the date of my application, or the date they eventually formally opened the account? i havent heard anything from them so im guessing its likely to be the latter :rolleyes: but just wondered if anyone can confirm?

It is believed that the 1% Bonus is for 12 Months from the date of account opening not from the date that the account was backdated to. ( if in doubt transfer out early as their is very little difference between an applied rate of 6.31% per year ( inc 1% first year bonus) and other rates that are available for the remaining time involved)

Apparent clued up people ( im not saying that you arent clued up. ) gave instructions to transfer their 2007/08 Barclays ISA out of Barclays at least a month before the 1% bonus was due to be removed to avoid being on a lower rate during the transfer out process.

pavlovs_dog

bristolleedsfan wrote: »

It is believed that the 1% Bonus is for 12 Months from the date of account opening not from the date that the account was backdated to. ( if in doubt transfer out early as their is very little difference between an applied rate of 6.31% per year ( inc 1% first year bonus) and other rates that are available for the remaining time involved)

Apparent clued up people ( im not saying that you arent clued up. ) gave instructions to transfer their 2007/08 Barclays ISA out of Barclays at least a month before the 1% bonus was due to be removed to avoid being on a lower rate during the transfer out process.

cheers BLF. would have got my bum in gear earlier, but coursework always seems horrific round march/april/may.

*tootles off to fill in a transfer form*

gillbee

path20 - I totally agree with you. Barclays can be shambolic at trying to sort out an ISA. I like to do things at the end of the tax year and to be honest and if Barclays don’t shut down their products before the end of the tax year then I expect them to have the staff to deal with all applications up to that point. If they can’t deliver a service then they should stop advertising it in the national press.

They really should have learned from last year. They still haven't cashed my cheque for my 07/08 ISA but the cash is doing nicely in my current account until they get their act together. Last year they backdated my interest to my application date so I did very well out of it.

I don't know if this is of any help or if you've been down this route before but I've had decent service from their complaints line ( 0800 282 390). I hope they get things sorted for you soon. Good luck.

path20

Lokolo....I did not leave it to the last day.It had a week to go when I first tried to contact the ISA team. I rang the day before the last day as I was worried that the form I had filled in at the bank had not arrived.I agree with Gillbee. Barckays should not do a count down day by day, urging people to use up their ISA allowance, as they did, if they cannot cope with demand.I repeat... It was a shambles!!!!

PS Have you ever tried to contact the ISA department by phone and not had to wait at anytime?!!

Thank you for the number Gillbee, I'll try that.