Barclays Tax Haven ISA

jam1919

My wife & I both applied for the new ISA paying 6.5% early in April. We are both Barclays customers and have today received our'welcome packs', which state a lower interest rate of 6.25% AER. I have written complaining about this change in interest rate, the length of time that it has taken for the applications to be processed and the subsequent loss of interest. I've also stated that an unsatisfactory response will result in the cancellation of both ISA's and we'll take our money elsewhere! We're demanding an immediate response with bated breath!!

Sillychuckie

Whilst I agree Barclays have taken a long time to set your ISA up (and mine, and many others...), the fact they have reduced their rate along with a BoE drop isn't something you really have grounds for complaint.
You signed up for a variable rate product and the terms were clear.

Focus on the time taken for the application to be processed and, assuming they didn't back pay interest, lost interest.
The drop to 6.25 isn't worth mentioning.

SC.

Crabman

Hi jam1919, welcome to the forums

There's a thread detailing moneysavers' experiences with Barclays Tax Haven ISA together with a poll, take a look:

Barclays Tax Haven ISA: Have you opened one?