Barclays Tax Haven ISA: Have you opened one?

aliwali

deep_pockets wrote: »

as per my previous posts, barclays sell their tax haven isa as an instant access cash isa.

this is clearly not the case you cannot move money around online, you have to go into a branch who have to fax off instructions to central isa dept in liverpool to eventually transfer the money in my case taking 6 days to do so, again this is not "instant"

Whilst I have had problems with this ISA I would like to point out that this isn't entirely accurate. I went into my branch and they called the ISA deparment to check my balance and then transferred it in the branch there and then. I went home and checked online and it was there. Not sure how this works if you are not a Barclays customer already though.

Alison

KBr_3

My wife & I opened Tax Haven ISAs on April 6th in our local branch. We got home from holiday last week to find letters welcoming us and supplying "Important information". Unfortunately, this did not include a statement of the balance in each account. We had to phone to get this and were told that statements were normally issued at the end of the year. We wanted reassurance that the full amount had been deposited since there was also a letter telling my wife that her account hadn't been opened because she hadn't enclosed a cheque.

The accounts were opened on May 7th. - over a month from our visit to the branch. When I complained, I was told that a complaint form would be raised to ensure interest would be backdated to April 6th. - I'm not holding my breath!

TomsMom

Originally Posted by TomsMom
Transferring out to a fixed rate ISA (assuming that's what you mean by FR)?

If so, have you found a fixed rate one which accepts transfers in? I've been looking but not been successful yet. Would love to know if there is one as I want to move last year's Barclays Tax Beater ISA now the bonus has gone and don't really want to put it in my Abbey ISA (yet another story!!!!!).

BruceyBonus wrote: »

Nationwide are offering 6.15% and accepting transfers in. Fixed for 1 or 2 years. Very slow to get the certificate out to you, but it comes in the end and is dated with the date you actually applied in branch.

Have checked out this FR Nationwide ISA and it looks like your money is tied up for a year.

There is a chance that I may need instant access to my money before then. Does anyone know of a FR ISA that doesn't tie your money up?

wheredoesallthetimego

Received my welcome pack.
It said the account was opened on 20th May so the interest will be backdated to that date.
The money is going out of my current account on the 27th and will stay in the e-saver until then. So 7 days of receiving double interest. Doesn't compensate for the month or so of reduced interest for being in the e-saver instead of the ISA but helps a bit.
Now just wonder how long the rate will hold up.

rhubarb8

My husband and I opened a tax haven ISA each with the local Barclays branch. We had to make an appointment and it took a full hour for the 'manager' to take down all our details to open the account ON 15TH APRIL 2008. 2 weeks later a letter arrived saying there were DELAYS. Finally after 2 COMPLAINTS a letter was received dated 12 MAY 2008 saying the account was now open. There was no information on this letter of the amount deposited or that INTEREST WOULD BE BACKDATED to 15 days after we opened the account. Surely there should be some official type of document/certificate/passbook detailing the date opened and amount deposited??

ewokuk

well after hearing these opening times im going to ring them yet again on tuesday and demand an explanation as to how people that applied WEEKS after me on 9th April have had their accounts opened WEEKS before me in mid may (and I am still waiting).

hypno06

I rang barclays yesterday to express my dismay at the length of time it takes to transfer money from my instant savings account into my ISA.

I was told by the customer service guy that they are not aware of anyone making complaints about the time delays........

slightly deluded I think!!

yorkieville

Opened ISA April 1st & gave cheque for £1000 .Confirmation letter received 2nd April,no contact until May 3rd with letter to say my ID not confirmed (I did take passport on April 1st & it was photocopied) took passport again on May 6th,just received welcome pack saying ISA opened on May 19th. What has happened to my 49 days interest? They say ISA opened 14 days after ID confirmed 2nd time !!!This was supposed to be a 07/08 ISA

skooby_2

hypno06 wrote: »

I was told by the customer service guy that they are not aware of anyone making complaints about the time delays........

slightly deluded I think!!

The media has started to pick up on the Barclays ISA fiasco. BBC Radio 4 Moneybox reported on it on Saturday 24th May. Here is what Catharine French, Barclays' retail customer service director, had to say: http://news.bbc.co.uk/1/hi/programmes/moneybox/7418541.stm

She claims that Barclays "did advise customers when they took out an ISA to expect delays." I am not sure where and when they did this. I applied online and there was no mention of a delay.

Having tried to open an ISA and failed, I complained in writing and received £50 in compensation for poor customer service and loss of interest. It's a hassle to send them an email but it really is worth it. I would still write, despite Barclays officially saying that it will only pay 14 days interest from the date of opening the ISA.

Barclays cannot afford to have so many disgruntled customers (as proven by this board) and they will compensate for the full loss of interest if customers write in and complain.

chalkysoil

Lokolo wrote: »

Its not a fixed rate so you can transfer it elsewhere if you want. Its a variable rate, hence the change, the Bank of England dropped the base rate, banks follow.

You were under the impression it was done there and then. Never assume.

You waited less than a month for it to open. Others (inc myself) have waited longer than 6 weeks.

This happened last year, exactly the same circumstances. I think its your fault for not doing your research.

Research? I checked Martin's Isa list, I chose a company I'm already banking with. Every other Isa I have opened has been opened on the day I applied. I don't have time to trawl message boards reading about every little thing before I do it. I think it's disgraceful that a reputable company is this shambolic. If there was a known probability of losing interest I think it would have been helpful if Martin had put that in brackets. But I daresay he had no idea this was going to happen.