Barclays Tax Haven ISA: Have you opened one?

missyg_3

So the official line is they are NOT backdating interest, even though I - and many others - were told they were?! :eek:

I'll be paying them a visit next week!

BruceyBonus

My dad's ISA took about 3 weeks to open. He has recently phoned and asked for balance. The interest that was added was about 6 days - not the 4 weeks that it should have been if backdated.

MishterTea

deep_pockets wrote: »

RULE 1 you cannot transfer money with barclays online banking into their isa

RULE 2 you cannot pay in cash over the counter into the isa

Has anyone tried using the pay a bill/someone option online and just specifying the ISA account no./sort code? Or set up a standing order the same way?

Crabman

I received a letter today explaining there was 'a technical problem with part of their account opening system'.

The letter asks to visit the branch with ID details (again :wall:) within 10 days as per HMRC regulations, otherwise the account will be closed for non-compliance. What about the past 7 weeks, does that 'comply'...

No mention of interest being backdated.

deep_pockets

mishter tea

i would presume neither of those options would be possible, as the impression i got when talking to my personnal banker was that the excuse barclays use for not allowing payments in unless they go via their central isa processing dept is to stop poeple paying in over their isa limit.
call me cynical but it also means tying money up in their current a/cs earning sod all for ages!l

Lokolo

deep_pockets wrote: »

well just got back from bank, drew £3590 out of my barclays current a/c(transferred in from kaupthing edge a/c paying 6.5% and filled in paying in slip with my barclays tax haven sort code and a/c no(£10 in there- took 3 weeks to open) and tried to pay it in.

nope cashiers unable to accept payments over the counter into a tax isa
so just for guidance here are the rules that barclays dont show you:-

RULE 1 you cannot transfer money with barclays online banking into their isa

RULE 2 you cannot pay in cash over the counter into the isa

RULE 3 you can go into a branch,wait for ages, see a personnal banker and they will fill in a "fax instruction for cash isa top up" form which they send off to the central isa processing dept.

RULE 4 you can then wait with £3600 in your current a/c earning 0.1 % interest to avoid the risk of going overdrawn and being charged whilst barclays sit on this forms for as long as they see fit!!

next year they can offer whatever interest rate they like and shove it!

You should try reading the T&Cs in future as it states in 2.2 how you can pay into the ISA.

deep_pockets

Lokolo wrote: »

You should try reading the T&Cs in future as it states in 2.2 how you can pay into the ISA.

double checked what you said about the terms and conditions of the tax haven isa a/c on their main site.

considering i have tried 2 of these options to no avail and taken it up in branch i would take these with a pinch of salt.

a bit like the confusion over backdated interest = to be or not to be THAT is the question!!

Lokolo

deep_pockets wrote: »

double checked what you said about the terms and conditions of the tax haven isa a/c on their main site.

considering i have tried 2 of these options to no avail and taken it up in branch i would take these with a pinch of salt.

a bit like the confusion over backdated interest = to be or not to be THAT is the question!!

Yep well I'm still waiting for my account to be opened

deep_pockets

when i queried the time delays the barclays member of staff actually admitted that they took on extra agency staff to help with the anticipated surge in applications.

he also added that this is also part of the problem, enough said.

by the way i am not running a personal vendetta against barclays, just hate poor service and ineffiency.

having the same problem in opening a birmingham midshires direct isa (issue 2) for my wife, still waiting for a/c to be opened taken 26 days so far!!

BruceyBonus

deep_pockets wrote: »

having the same problem in opening a birmingham midshires direct isa (issue 2) for my wife, still waiting for a/c to be opened taken 26 days so far!!

I had the same problem. The account has now been withdrawn for new customers and they aren't answering my emails so I just gave up with them.