Anybody had their 08/09 Tax Haven ISA opened?

King_Weasel

timo58 wrote: »

I also have the same problem although i did it online on the 6th of april god knows how long my money will mow sit in my current account

But if my #9 applies here, it's their problem, not yours - you are still earning interest.

TomsMom

King_Weasel wrote: »

If we're talking Barclays, I was assured my cheque would earn interest from the day it was handed over. (Had to have a meeting with them to open it, but it was quick and there was no attempt to sell, though the bank clerk did have a go when I set up the appointment.)

Ditto King Weasel. Assured at our interview that the money we deposited would earn interest from that day.

Also, last year's Tax Beater ISA apparently backdated the interest despite the long wait some of us had.

bristolleedsfan

Sillychuckie wrote: »

They are in no rush to open these.
The only thing you can do to avoid lost interest, is open them with £1 then transfer the rest of the money in later once it is open.

SC.

Since 15th May 2007 Barclays added a facility wherebye people could make additional deposits at branches whether their accounts had been opened or not so your advice to wait till they get their accounts open to deposit the remaining 3599 just means they will lose the tax relief, and possibly be gaining a lower rate on that sum for the time it takes for the accounts to be opened.

Last year we did get away with opening with 1.00 and complaining to Barclays that we was unable to pay the rest in due to its account opening delays hence Barclays making the facility as per my first line avaliable.

At least one poster has confirmed that Barclays Branches have special ISA deposit slips to use should people make additional deposits at a branch without an account number.

Where people apply with the full 3600.00,Barclays will fully backdate interest to date of application/deposit so NO loss of interest will occur however long it takes for Barclays to open accounts.

Megalomaniac

bristolleedsfan wrote: »

Since 15th May 2007 Barclays added a facility wherebye people could make additional deposits at branches whether their accounts had been opened or not so your advice to wait till they get their accounts open to deposit the remaining 3599 just means they will lose the tax relief, and possibly be gaining a lower rate on that sum for the time it takes for the accounts to be opened.

Last year we did get away with opening with 1.00 and complaining to Barclays that we was unable to pay the rest in due to its account opening delays hence Barclays making the facility as per my first line avaliable.

At least one poster has confirmed that Barclays Branches have special ISA deposit slips to use should people make additional deposits at a branch without an account number.

Where people apply with the full 3600.00,Barclays will fully backdate interest to date of application/deposit so NO loss of interest will occur however long it takes for Barclays to open accounts.

My girlfriend opened up her Barclays ISA in March, got the account details etc... and decided to top up the amount in it before the end of the tax year. She went to the branch to pay in a cheque on the 3rd April, and they told her she should have sent it by post. However, they would pay it in for her etc... and gave her a reciept for the cheque (oddly dated 4th April). Therefore, I assumed they had cashed it etc... and the money would be applied to 2007-8 tax year.

However, now over a week later, the money has not left the account and she went down there today to find out what had happened. They said they had to post it to wherever, and it seems like it has got lost in the post, and said she should have the cheque cancelled and pay in a new one. Now I am not sure if they would credit the new cheque to the last tax year or this one. Any ideas, because surely it's a problem that Barclays have caused? She purposely went to the branch to pay it in (paying parking costs etc...) to make sure it was paid in that for tax year. If not, I wonder if there's any compensation possible because of Barclays failure.

Cheers

Lokolo

How much was it for?

And I doubt it, unless they gave you proof that you gave them a cheque?

Megalomaniac

It was for £500... and they did give my girlfriend proof. She has a receipt for the paying in of the original cheque. I think she'll go down there on Monday and try and get it sorted.

Lokolo

Yeh I think if she got a receipt etc. I think she can pay in another cheque to her old ISA (not certain on this though) but guess you won't know til you try :-) good luck to her on Monday!

bristolleedsfan

Megalomaniac wrote: »

My girlfriend opened up her Barclays ISA in March, got the account details etc... and decided to top up the amount in it before the end of the tax year. She went to the branch to pay in a cheque on the 3rd April, and they told her she should have sent it by post. However, they would pay it in for her etc... and gave her a reciept for the cheque (oddly dated 4th April). Therefore, I assumed they had cashed it etc... and the money would be applied to 2007-8 tax year.

Cheers

The good thing is that your G/F has a receipt for the cheque, most financial organisations send items daily to their head office by courier not by post.

I wonder if the cheque is hanging around in Barclays ISA office waiting to be dealt with. :think:

Heres the terms and conditions re paying into the ISA.

http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=homefreegroup&value=14463&target=_blank&site=pfs


"2.2 The minimum deposit is £1. Deposits may be made by transfer from another account, standing order, cheque, or by paying a cash amount into any Barclays branch in the UK."

Megalomaniac

Cheers blfan... seems a little ambiguous those terms - you can pay in by all methods, but is it only cash that can be paid in a branch?

Anyway, I wondered if it is still up in Barclay's HQ which amde me a little worried when she had cancelled the cheque, however it was them that told her to cancel the cheque as it should have been paid in by now.

I would assume there are different teams of people, one that opens accounts, one that processes deposits and maybe one for withdrawals. I don't think it would be good service if current customers were not able to perform transactions in a standard amount of time. Who knows!

bristolleedsfan

Megalomaniac wrote: »

Cheers blfan... seems a little ambiguous those terms - you can pay in by all methods, but is it only cash that can be paid in a branch?

Anyway, I wondered if it is still up in Barclay's HQ which amde me a little worried when she had cancelled the cheque, however it was them that told her to cancel the cheque as it should have been paid in by now.

I

Like u say looks bit ambiguous, Barclays seem to have a problem in allowing its branches to bank ISA cheques, advantage of depositing a cheque via a branch even if they have to send it on is that customer has proof of attempted deposit.

TBH if the branch forwarded the cheque to its ISA office it should have suggested to you that you contact the ISA office for advice about the cheque rather than the branch making assumptions.

My opinion is that their is more chance of the cheque being in the ISA office than it being lost.