Barclays Tax Haven ISA: Have you opened one?

din_dons

Attempted to open mine on line mid to late March but then tried to open my husbands on my login-very bad mistake. Have now been into branches 3 times with ID of address etc, last week hubby went in with ID the advisor said that they didn't have any details of him-strange we have had an account with them for 3 years!! Fed up as stooze money sitting in account waiting to be palced in ISA until Virgin CC due to be paid next year so loosing interest.
When you phone up all the staff can say is that its in progress so thats frustrating. It takes at least 2 weeks for them to let you know that the application has failed and that they need more info.
Surely they should know what the demand will be for this account and make provision or just not have it.

missyg_3

Interest was backdated on the Tax Beater one for me last year, it was promised again this year so I had no reason to doubt it... very disappointing that it hasn't happened.

PoorPaul

missyg wrote: »

£1.87 interest was added to mine on 1 May. I assume this is the interest since 28 April, when it finally opened (I applied mid-March) without any backdated interest... guess I'll wait a few days before enquiring. Has anyone else had the same?

Yep! Exactly the same here, I applied at the end of march but again interest only added since 28/3 when it was opened.

luvsaving

Stupidly advised my son to apply for the Barclays ISA-went into branch with all ID and cheque on 8th March-heard nothing for 2 weeks then chq returned from ISA dept stating ID not correct. A mistake had been made "validating" his ID in branch. Took chq into branch again after apology but he wished he hadn't. It is now 8 weeks since he tried to open the account! He was told on the phone on Saturday his account was opened on 29 April but he still is waiting for his account number and welcome pack. Was basically advised that if you want a high rate of interest you should put up with the wait and hassle. He is 16 years old so new to banking but would not touch them with a bargepole again. You may get a slightly higher interest rate but for a high street name their service and planning is diabolical.

violets777

I had an appointment two weeks ago to open an ISA but when I went to the branch I was told the chap I was to see was off on sick leave. Didn't know they were going to drop the rate or I would have insisted on seeing someone.:mad:

veemac

Had appointment with adviser 29 March 08. Opened Cash ISA for 2007/08(£3k). Got letter dated 01 April confirming application. Got another letter dated 18 April saying "unable to open your ISA...because your application is invalid", and that final date had passed. Not very happy!

topbuzz

I'm a new Barclays customer. Saw their rates in the top 10 chart.
Decided to open a Tax Haven ISA with them 26Mar08 when seeing their adviser - they didn't tell me what ID to bring so I bought loads (ie passport, driver’s license, utility bills etc).

So had to leave work early (they close at 4:30pm!! why so early? - I have to make time up at work). Saw adviser, he said he only wanted the passport and drivers license - form all stamped and back dated 26Mar08 and gave them £3K cheque.

2Apr08 - got a letter from Barclays to say they don't have enough ID, need to confirm my address. Left work early again, hour in traffic, 10min standing in Barclays bank cue (help desk is never open) - handed over utility bills, staff stamped and photocopied paper work and said it should be fine.:mad:

18Apr - got the same letter from Barcleys again, ie they don't have enough ID, need to confirm my address. Left work early again, hour in traffic, 10min standing in Barclays bank cue (help desk is never open) - handed over utility bills, staff stamped and photocopied paper work and said it should be fine.:mad:

I'm not doing this a 4th time. If it does work I'll have to demand back dated interest plus as my account is not open I can't put the £3600 I wanted to put in on 5Apr08 either - so losing even more interest. - otherwise I'll pull out and go to someone else.

deep_pockets

just been to my online banking in the vain hope that barclays had laid on extra staff over the bank holiday weekend to help process the backlog of problems opening /transferring into their tax haven isa a/c, no change one week on money still sitting in current a/c!

had to laugh it seems they now have a new savings product called an "active savings account". Is this to replace their "inactive tax haven isa"???

magnificat

My husband and I applied on 14th & 17th April and still cheques have not been cashed nor accounts opened (6th May). I hope you're right and they're going to back date the interest - otherwise money sitting idle in current account which somewhat defeats the object of the exercise. I'd already moved money from savings account to pay for the ISA's so have lost interest there.

Jon_Skint_Smith

I had problems last year and again this year. I have not finally got the official line from Barclays re. what they are doing about the delays and the compensation offered for the 08/09 "Haven ISA".

I read numerous users mentioning that they were told that "interest would be back-dated to when the account was opened". This rang a few alarm bells; of course you earn interest from when the account is "OPENED"! This did happen last year (mine took 2 months) but the main difference was that my cheque was CASHED on day one, unlike this year, where they have learnt from their mistakes and are not cashing cheques / drawing funds until the account is opened!!

This year my cash has been sitting idol in my current account earning nowt since 7th April. So, I was determined to establish whether I will be compensated from the DATE OF APPLICATION rather than from the OPENING DATE!

In a nutshell, I managed to frighten the poor lad at the counter to letting me read, (yet not photocopy for evidence!!) THE OFFICIAL FAX MEMO FROM HEAD OFFICE regarding the Haven ISA compensation. In this two page document it "clearly" states (in a long-winded way including worked examples for the mathematically inept) that the opening of an account should take 14 days from receiving the application, hence any delay in excess of this will attract tax free interest at the current rate and as such the account will be deemed open for the sum which was presented on application, whether the cheque / funds had been drawn upon or not. In short, interest will be back-dated less 14 days worth.

To clarify what the actual "date of application received" was, I had it confirmed that this date was the day when the application was signed and handed over to the Barclays staff and not the day it was recovered from the long-term mail store at head office! (I don't know how postal applications will be dealt with)

My question is: why don't Barclays post this information on their site - its called customer service!!!! If anyone on here has got access to this memo, please publish it on the web. To all others, I suggest that you go to your local branch and insist on seeing it. I will try again to get a copy for my records!

Oh, as for the delays and the expected time-frame for sorting out this mess; there was only one date mentioned - any application for 08/09 received before the start of the tax year should be dealt with before May 5th........yeah right!

GOOD LUCK to all!!