Barclays Tax Haven ISA: Have you opened one?

DUS

Yorkytart wrote: »

can you believe it - two months to open an account - incredible.

Only 2 months? Consider yourself lucky. Mine took Barclays almost 3 months to open.

MABLE

Yorkytart wrote: »

My husband and I applied to open a Barclays Tax Haven Isa, at branch, on the 11th April. My account was opened on 15th May, only took a month! hubby's took another month and was finally opened on the 18th June,
:mad: can you believe it - two months to open an account - incredible.

Look on the bright side, at least when your account was opened it stayed open.

chissy252

chissy252 wrote: »

MY UPDATE

As I expected as my complaint was due to be solved by today June 25th, I have just received a letter saying "We remain committed to resolving your complaint as quickly as we can and will contact you again by July 23rd"

It will be 9 weeks tomorrow when I handed over our cheques. For anyone new considering investing with this shower I'd suggest reading through the thread and have a good think if it is worth all the potential hassle.

Some humble advice for anyone waiting for their accounts to be opened and who do not have other accounts open with Barclays. I have just discovered that the herbert who keyed in my information at the branch decided to type in we had moved into our current address on the SAME day as applying!! So we obviously had no 3 years or more history at home. Apparently they have 2 computer systems involved with this process and if your details on the branch system are incorrect, this will cause problems in the ISA centre system. (Well that was what I was told) Why it has taken this long to discover I have no idea.

Anyhow, I suggest folk go into the branch and ask for their details to be checked, it may help

1st July update: Today we received our account details with an opening date of 26th June instead of it being 24th April when they got the cheques! 26th June was the date when I went to the branch and found out about the wrongly inputted data. Phoned ISA centre and told to wait until my complaint is dealt with. Whichever sap is given the short straw to phone me hasn't a clue to the blasting I'm going to give!!

greco_2

Piece of cake. Went into my Barclays branch on the 13th June. Got my confirmation letter yesterday.

allthingsmustpass

Mine was opened a month after I applied at the start of the financial year, Im an existing customer, did it online and used my e-savings online account as the source of funds. This meant my 3.6k was getting some interest there until they got around to opening the isa and transferring.

I recently got a backdated interest amount, £7.51, this seems to be about 2 weeks worth, meaning as has been mentioned they arent paying interest on the first 2 weeks after the account is opened.

Im not particularly bothered quite honestly it's only a few quid and life is too short, however if they don't pay any interest for 14 days the rate is not 6.25%, it is :

6.25 - (14/365*6.25) = 6 % .

They are basically mis-selling the product. If you've yet to use your cash isa this year and are not a barclays customer already I'd give them a wide berth, both for the dishonesty regarding the rate and the likelyhood of aggravation seen by non-barclays customers in this thread.


If you're already a barclays customer, it's easy to open online, use an e-savings account as the funds source, but be aware you're getting 6%.

Artful_Bodger

:eek:

chissy252 wrote: »

Some humble advice for anyone waiting for their accounts to be opened and who do not have other accounts open with Barclays. I have just discovered that the herbert who keyed in my information at the branch decided to type in we had moved into our current address on the SAME day as applying!! So we obviously had no 3 years or more history at home. Apparently they have 2 computer systems involved with this process and if your details on the branch system are incorrect, this will cause problems in the ISA centre system. (Well that was what I was told) Why it has taken this long to discover I have no idea.

Anyhow, I suggest folk go into the branch and ask for their details to be checked, it may help

Ye Gods I registered just to add my 2p worth.

I phoned up in April and said what do I have to do to open a Tax Haven ISA - A just pop into you local branch

Popped into local branch specifically with all paperwork and was told oh no you need to make an appointment soonest is 3 weeks.

Made an appointment for 10 days time in the Gloucester branch instead so special trip into town just for this. Took all paperwork and yes as above they got the date wrong. That was 2nd week in received a letter acknowledging my existence 16th April

Heard nothing phoned and complained and finally received a letter 4th June (roughly I think I tore letter up in temper) telling me I needed to bring in evidence to correct their error.

Phoned up asked if I needed to make an appointment nope just pop in and go to the till.

You have guessed already havent you queued at till to be told no you have to go to reception and book a slot to see the advisor. So I queued up and waited for 45 minutes I didnt have just so a very nice Lady could look at my documents click a button and make excuses for her employer. This was on the 6th June I think and yes you have guessed it no letter no apology and still no account. I have even checked the account I moved the money to and it is still in their earning nothing.something %.

I am going to stick with otherwse I have lost 3 months plus interest on this money but if I ever ever ever deal with Barclays again someone shoot me!!

mrsplinter

fablad75 wrote: »

I would be very, very, very surprised if they agreed to this.

Your money wasn't in the account, and was (presumably) gathering interest in another account all this time, so you would essentially be trying to collect interest twice on the same amount.

In any case, there is no way of proving conclusively that you would have put this amount into the ISA in the first place.

I've received a letter from barclays apologising for delay and saying my account is now open with £1600 credited (my first two deposits). They say they will backdate the interest on the whole sum, not just the initial transfer of £1, for any delay in excess of 14 days. I rang the savings line to check and they confirmed it would be on the amount in the letter. Not counting my chickens yet though.

TMBH

chissy252 wrote: »

MY UPDATE

As I expected as my complaint was due to be solved by today June 25th, I have just received a letter saying "We remain committed to resolving your complaint as quickly as we can and will contact you again by July 23rd"

It will be 9 weeks tomorrow when I handed over our cheques. For anyone new considering investing with this shower I'd suggest reading through the thread and have a good think if it is worth all the potential hassle.

Just had that same letter through! Probably get another extension letter around 23rd July lol.

On the plus side interest has been backdated to the day I walked into the branch and opened the account but no breakdown of the interest rate is given! :mad:

kevlong_2

Many thanks for all the anecdotes and advice in this thread.
My questions concerns posting a cheque using Barclays ISA deposit form. How long would you reasonably expect for the cheque to arrive and be deposited in the ISA. For me this is currently two weeks and counting!!

Thanks,

Kevlong

MABLE

kevlong wrote: »

Many thanks for all the anecdotes and advice in this thread.
My questions concerns posting a cheque using Barclays ISA deposit form. How long would you reasonably expect for the cheque to arrive and be deposited in the ISA. For me this is currently two weeks and counting!!

Thanks,

Kevlong

They are normally very efficient at banking the cheque and even quicker returning the cheque to the account it came from and without any reason closing the ISA account down. :mad: