Barclays Tax Haven ISA: Have you opened one?

caveat_emptor

You wanted to open an ISA for the year 07/08 but because of the time lag in transfering cash it didn't reach Barclays until the 08/09 tax year so they opened an ISA for this year. I don't understand the bit about this being the one you opened last year and why Barclays moved your money to a savings account without you closing the ISA.
I would start at the local branch for an explanation and if necessary move on from there.

peas

Thanks - I don't think I explained myself clearly. I had an ISA with Barclays for 07/08 and monthly standing order deposits into it. Because of the time lag in the system my april payment cleared into Barclays on 8th April, so consequently that was counted as the first deposit on my 'new ' ISA.
I in good faith opened a Tax Haven ISA and 3 months down the line have had it cancelled.

geoffw6

Opened a ISA with local Barclays on Saturday morning, read all comments later in day. Made a few calls to Barclays call centre, cut off twice, have tried to ring advisor in branch on his direct number also been cut off.
Now want to cancel. ISA helpline say I have to send a letter, asked them as I only applied 2 days ago in branch, why can't I cancel in branch, they say have to put in writing.
Don't really trust Barclays that my letter will not get 'lost' in there poor system.
Is this correct that I have to cancel in writing after only setting up 2 days ago?
Also faxed branch no response.
Wished I had never gone for this.

geoffw6

Thanks for that Nicky, but I want to open an ISA somewhere else asap.
I have no futher interest in Barclays even if they doubled the rate.
Don't the FSA rules say that I have 14 days to cancel any finincial services product?
I just want to undo this asap.

Also not happy that Barclays advisor has carried out a credit check on me without telling me that he was doing so, (not a requirement for opening an ISA) surely this is also in breach of the FSA regs?
I checked with my online experian account and it shows this search.
I don't bank with them and the advisor was trying to sell me other products ie current accounts/credit cards etc now I know why.

It just seems to me that Barclays want to make things as difficult as possible to change your mind, something I am well within my rights to do.

geoffw6

Nicky do you work for Barclays? you seem to be defending them, this forum shows otherwise.
I have the T&Cs and no mention of how to cancel.
Also under the Consumer Credit Act, if any organisation carries out a credit check they have to inform you beforehand.
Why should I have to spend time/money sending letters to cancel something I set up in branch 2 days ago
It is now cancelled and I have faxed confirmation of this.
Anybody else wishing to cancel an ISA with Barclays call this number 01133898065 its a ISA processing dept in Leeds.
If they say it has to be in writing, its just a stalling process.
Good luck.....off to Bradford and Bingley rate for life ISA...bit less interest but no hassle.

Rob_07

What type of credit search is it? If it is just an enquiry or identity search then it has no bearing upon your credit score as other lenders cannot see these searches and is therefore nothing to worry about. If it is a credit search for a current account etc. then you have grounds for complaint and by making an offical complaint quoting FSA regulations would lead to them removing the search.

It is now common for banks and building societies to conduct credit searches however they are simply for identity and money laundering purposes and as i have already mentioned have no impact upon your credit score. These types of searches are to be expected if you are a new customer as your identity needs to be confirmed and this is another way in doing so in the fight against terrorism and money laundering.

Hope this helps
Rob

PS. I don't work for barclays

CamillaInLondon

I applied in branch for an ISA on the 7th June, having heard nothing after two months i phoned the ISA helpline, the gentleman i sopke to was very nice and said that my application had not been recieved, and said i would need to log a complaint then i can get the interest backdated, he logged the complaint for me and said that my Isa would be opened in the next few days, so hopefully it will be.

Best advice is to just be nice to the person on the end of the phone its not their fault the system is so blocked up.

saveralot

Applied in April, still nothing, chased it up several times. last time went in to a branch and the man there said be patient!!!! I think I have been.

MABLE

MABLE wrote: »

You have my every sympathy. I opened up a Tax Haven isa. Deposited £1.00 and then about 6 weeks deposited a further £3599.00. Credit on the 5 June to the ISA and on the 6 June transferred back to my Barclays Currant account and account closed.

Phoned them and they do not have a reason why this happened and as such as complaint has now been registered.

They are bl...dy USELESS.

UPDATE UPDATE.

Well I have now been advised that the Inland Revenue will not allow them to open the account. However Barclays have credited my account with £220.00 as loss of interest and compensation for the error.

Lokolo

I don't have a Barclays current account and so I cannot get online banking with them.

Is there anyway I can get a free statement or anything? Can I just go in branch and ask them for one and not cost me a thing?