Cheque not been cashed for 07/08 ISA (barclays) should i be worried?

Neiliboy

So my wife and i opened our ISAs on Tuesday 1st April - each with a £3000 cheque dated 1st April. With 3 days required to clear this is plenty of time.

I phoned by current account bank (The Brilliant First Direct) to ask if the funds had cleared and today thay still had not been - there was no cheque pending either.....so i'm concerned as mid-night tonight is the deadline....if Barclays have ballsed up does this mean i lose my allowance? Should i be worried or can they backdate it?

RayWolfe

I would worry in your circumstances but then I wouldn't have left it until the last minute to do my ISA.
Particularly after the amazing situation that Barclay's got themselves into last year.

dunstonh

It doesnt matter that your cheque has not been paid. As long as its in front of the ISA provider by close of today then you are fine.

earlgrey_3

To qualify for your allowance your application just needs to be accepted by the provider. The cheque doesn't need to have cleared.

(In theory you can make your application up to midnight tonight and Hargreaves Lansdown for one say they'll be open for business tonight till then.)

SeanW

Nothing surprises me with Barclays, I am removing all my business from them.

They have no clue on how to protect people's data, or where forms and cheques containing people's data have got to.

Neiliboy

Brilliant Thanks guys...

@ Ray Wolfe.......I hope you're not actually trying to be rude.........sorry i'm not as organised as you......+ with 5 days to go i wouldnt really call it 'last minute'

Lokolo

Compared to the other 360 days it kind of is really isn't it lol

Neiliboy

yeah well with two businesses, two small kids (one of whom we're potty training) a pregnant wife, a house purchase and two sick grandparents who we've just had to place in a home this isnt isnt exactly the top of my mind........

Once again thanks to the helpful posts

RayWolfe

Rude?
Because I suggest that you left it until the last few days ... and because you used Barclay's who had a disaster last year with late applicants?
Some people are not worth helping.
Bah! Humbug!

Neiliboy

i wasnt even remotely aware of the problem they had until i saw a thead on here today...which, hey guess what, got me worried hence the point of this thread.

Indeed in light of my priorities yeah it may be last minute to some but whet the hell....i've got one now....

'some people are not worth helping'

not if yr gonna be rude about it.......

PBA

When I opened a Barclays tax beater ISA last year I handed the form in around the end of March, account was actually opened on 14 April but was backdated to 5 April. You ought to be fine, Barclays have accepted your application before the end of the tax year and that's the date that counts, not the date the application actually gets processed. The only problem I could see would be if Barclays reject your application for some reason, or if your cheque bounces, in which case you'd be too late to apply with anyone else.