Barclays Tax Haven ISA: Have you opened one?

deep_pockets

as an existing barclays customer i applied online for tax haven isa for tax year 08/09 on 07th april.
account finally opened 29th april only taking 4weeks an improvement i suppose on last years tax beater fiasco of 6weeks!!

not trusting BARCLAYS to backdate the full interest correctly i opened a/c with only a £10 and kept money in a seperate High interest a/c untill actually opened.

as a barclays online banking customer i then tried to transfer money into my account and unable to transfer online, so went into my local branch costing time and money for parking.

now barclays latest scam, finally saw personnal banker, explained problem he said this is to stop people paying in more than the isa limit of £3600.
he also told me that they cannot do it either, he had to fill in a transfer form and fax it through to the central isa processing for them to process.

needless to say this has still not been done so despite my caution they now have |£3590 of my money sitting in a current a/c earning 0.1 % interest and now there reducing the rate of the isa.

next year they can offer what ever headline grabbing rate they like i WILL BE GOING ELSEWHERE!!

dawesie

I tried applying at the beginning of march in the Bristol branch. Application was sent for processing but received a letter saying it had been rejected (as perviously mentioned by others for ID reasons). Returned to the branch and they couldn't tell me why, made me ring the processing department. To begin with they didn't know why either, then they said it was to do with my 'security rating'. This didn't mean much to the staff in branch but they re-submitted the application with an extra piece of ID. The beginning of April came and went until the second application was rejected. I decided not to give my money to a company so imcompetent so I applied elsewhere. Applied online in 10 mins and had a confirmation message within 2 hours.

aliwali

I am 31 I have had an account at Barclays for 31 years practically to the day. I have applied for the ISA online and still have to wait in line with all the public who are not loyal customers of the bank. I am so cross words can't even say how I feel. I went to HSBC yesterday to sort out my mortgage application, they were so helpful and gave me a card to make an appointment to change my current account, hummmmmmmmm maybe i'll be making that call!!!!!!!!!!!!!!
Alison

joshm_2

Outrageous! Like BruceyBonus says, the rate now appears to be 6.25% on the details page of their web site (although their banner adverts all over their site are still advertising 6.5%). Am I right in thinking that Martin's email said it has dropped to 6.27%? If so was this an oversight [possible slur on Barclays removed!]?

deep_pockets

call me penny pinching but according to martins weekly email barclays tax haven cash isa rate dropping to 6.27% AER.

just double checked on BARCLAYS website and they state interest rate from 01/05/2008 is 6.25% AER

its the little differences that make the difference!!

iolande

I have just spoken to Barclays about our ISAs - apparently I cannot change to another provider until after the account is open, then I have 14 days to cancel!!!!! So no chance of rescuing our situation by going to another provider.

And despite being told our accounts would be open within two weeks and our interest would be back dated to the date of our application (which was the consideration we signed the contract under), I have just been told that this is wrong and I have to wait for the account to open and then they will start letting us deposit and interest will start accumulating then.

So how can this be legal? I was not informed that Barclay's would take as long as they wanted to open this account and would only be paying interest from that date. So this was not the contract I feel I entered into.

Baldur

joshm wrote: »

Outrageous! Like BruceyBonus says, the rate now appears to be 6.25% on the details page of their web site (although their banner adverts all over their site are still advertising 6.5%). Am I right in thinking that Martin's email said it has dropped to 6.27%? If so was this an oversight or are Barclays trying to pull a fast one?

eMoneyFacts shows a reduction of 0.23% on the gross rate, rather than AER, to 6.08% - which is what the Barclays product information shows.

It may have been assumed that the reduction applied to the AER, which would have resulted in a rate of 6.27%.

cornish_lady

Opened 1st April, still waiting. Same as a lot of others the money has been sitting in my current account doing nothing since then

Barclays must be coining it in :mad:

Have been loyal Barclays customer for 46 years, but maybe time for a change!!

joshm_2

Baldur wrote: »

eMoneyFacts shows a reduction of 0.23% on the gross rate, rather than AER, to 6.08% - which is what the Barclays product information shows.

It may have been assumed that the reduction applied to the AER, which would have resulted in a rate of 6.27%.

Ok, gotcha. 'Fast one' statement fully retracted! Nevertheless, Barclays must be expecting a lot of negative feedback about this rate drop, especially considering they've been so inefficient in opening accounts, coupled with the fact that it is no longer the leading rate.

bombardier

Applied in-branch on 30th March. They royally messed up and didn't take three years of address details for me, I have had to go back to the branch myself, in my own time and at my own expense, to give them details. I've raised a complaint too, as like many other posters on here I'm annoyed that I have had £3000 sitting in my current account for over a month now earning naff all interest when it could have been in my savings account.

To date, I have still not received anything from them, other than a letter saying 'we're dealing with it'.

There is no way on this Earth that they will be getting any more of my money in the future.