barclays tax haven isas

user picture
elizzie
Tue, 18/08/2009 - 13:08

These were available from April 2008  but for most people it took over 2 months to open. Barclays promised to back date interest from 14 days after the  account had been opened.

If you received your interest statement check this has been done  as ours had not - this amounted  over £80  on 2 accounts in our family.   Well done Barclays making even more money.

I am interested to see  the scale of these errors - please post on forum if the same applies to you

Guest (not verified):

I had the same issue and i dont think they backdated interest on my ISA. Also they took 1 month opening a cashcard account because the bank consultant made errors on application form on two occasions till erors were corrected and account got opened.

Barclays do provide low quality service.

Ian Reid (not verified):

Both my wife and I had the same problem Barclays excuse was that too many people subscribed for them to cope and as we had paid the ISAs in full they could not add the interest to it.

Cliff (not verified):

Barclays took almost 3 months to open my daughters account and interest was not started from the date of application as promised. A letter of complaint brought a very curt letter but they agreed to pay the interest owed. When rates fell, Barclays were not competative - it took them almost 3 months to transfer to our new provider.

Barclays - never again!

Jo Higham (not verified):

Not about Barclays about AA I banked £20,000 with them 8th July and they sent me an access number which would be followed by a user name to enable me to go on line to see my a/c!! It eventually after phones calls followed 27th July. The code is incorrect and I have been given 9 different codes, I have spent pounds and hours talking to them to get it resolved. Everyone is going to ring back but no one does!! I have now said Give me back my money. I would not advise anyone to bank with them.

Guest (not verified):

My wife and I took out cash ISA's with Barclays in april 2008. They took weeks to process the applications and we lost interest as a result. When we complained, we got knowhere, so took the matter up with the Financial Ombudsman. They intervened and we received
compensation from Barclays eventually.

Wolf (not verified):

I've been trying to close my Barclays ISAs since April and transfer to another bank and as yet am still waiting for their release!!
Anyone else in this situation?

Guest (not verified):

I also opened a Barclays Tax Haven Isa last April and it took 2 phone calls to customer services, 3 visits to local branch and a letter before my account was opened. I was also promised back dated interest which did not occur. I am now in my 4th week awaiting my complaint to be dealt with. I have received 2 letters, one informing me my complaint is being dealt with and one apologising for the delay. My husband's Tax Haven Isa application was 1 week after mine and took less than a week to open so there's no consistency.

Had several ISAs in differing banks, etc. which were paying poor rates of interest. So decided to move them into an account paying a much better rate of interest fixed for 12 months. It had a 30 day guarantee on the rate . All bar Barclays cleared comfortably within the 30 days. Good old Barclays was the odd one out, and despite several attempts by myself and the person dealing with the transfer to the new account it took over two months for the money to clear by which time the account I was moving my money to had changed the interest rate. I also had trouble when opening the Barclays Tax Haven ISA, which as it turned out was a sign of things to come.

Guest (not verified):

I too have had problems with opening an ISA with Barclays in April 2008. On the last day that it could be opened, I took a cheque for £2500 drawn on a building society and a personal cheque along with the application into my local branch to open the ISA for 2007/08. They subsequently lost the application and both cheques and it wasn't until early this year that I found out that it hadn't been opened. Unfortunately, to the best of my memory, I wasn't given a receipt for the cheques and have therefore nothing to back up my claim for compensation for the loss of the ISA status or the interest lost. I contacted Barclays and then the Financial Ombudsman, both of whom have stated that as I cannot back up my claim with a receipt, although surely a £2500 chq drawn on a building society and not cashed says something, they are rejecting my claim for compensation. I am particularly annoyed with the FO as I thought they would be able to independently adjudicate on this based on the massive amount of circumstantial evidence that I provided - one wonders exactly what their purpose is!!

Guest (not verified):

ditto - not only was there a two month delay - the staff member misadvised me on the interest rate. Only with a complaint to Ombudsman did the full backdating of interest occur but the bank refused to take any responsibility for misadvising on rate as I had no proof - as no receipt provided/ verbal statement. Trust Barclays at your peril...

Guest (not verified):

I opened a Barclay's Golden ISA (3.55% variable, incl. 1% bonus for first year) on 9th April and received confirmation on 14th that the account had been opened. Some time later, I noticed in the press that Barclay's ISA was only paying 2.55%. I spoke to the bank about this and was told that because I had opened a Golden ISA account, my 1% bonus still stood and my rate was still 3.55%. I hope this proves to be correct!

Guest (not verified):

Same thing happened to me and my wife. Barclays made a point of saying the interest would be back dated in front of me and my wife. It took them approx 5 weeks. Who do we complain to?
If I was into conspiracies then all these people were told so barclays had 1 month of interest from everyone......Bonus anyone!

Guest (not verified):

HOPELESS SERVICE FROM BARCLAYS! DID 2 ISAs OVER 2 YEARS, THE BEST RATE ON PAPER BUT 3 MONTHS TO OPEN AN ACCOUNT! PATHETIC. NOW MOVED TO HALIFAX AND ALSO PAID OFF 5.5% FIXED RATE MORTGAGE.
POOR SERVICE BARCLAYS, BACK DATING A JOKE, GET A GRIP, YOU ARE BANK!!!!

Guest (not verified):

A different account , but still barclays . My husband and I opened regular savers accounts within 2 days of each other last year. The accounts have now matured and he got more interest than me although I am a registered non-tax payer(so should get my interest gross). I am still waiting for them to get back to me to explain why.
Barclays are definately the worst bank to deal with, it seems they are useless in every department.

Chris D (not verified):

My wife and I were promised interest would be paid from date of application by a very helpful lady in the local branch. After the lengthy delays in opening the accounts, and my subsequent complaints, Barclays wrote saying they would backdate the interest to 14 days after the application date, but refusing to honour what had been said in the branch. However they did in fact backdate interest to the application date!!!

We subsequently transferred the isas to Natwest, which has proved to be a case of out of the frying pan into the fire! We are pursuing the exact same complaint! Natwest stated in their website "we apply the bonus from the date we receive your cash isa transfer form," and this was confirmed in the branch. They have now written refusing to do this. I have also been unable to establish the (rapidly reducing) interest rates, which have been applied to the accounts since they were opened.

The amount of time you have to spend getting banks like these to honour what they say and find out basic information is outrageous. There must be many other instances, which do not come to light, because people just do not have the time to pursue them.

Guest (not verified):

Why not check your local Barclay's bank manager's name and home address at your local library. Write to him personally at his home about your dissatisfaction, suggesting, if it was not dealt with, his address maybe listed, for all other Barclay's customers with similar dissatisfactions. I think the manager concerned may feel a little exposed at this disclosure of his address, purely for legitimate enquiries that are just not being answered by his bank. It may result in a speedier settlement for those customers who have been short-changed from interest payments, etc,. It is rightfully, a justifiable criminal offence for the general public to steal or appropriate money deviously from banks. Therefore, not forgetting, of course to ask this manager, why the reverse action is sanctioned as acceptable and legal policy by Barclay's Banking Group

Guest (not verified):

I made a payment into a Tax Haven Isa about two weeks before the new ISA year. When I sent a cheque for a new ISA year some 3 weeks later, it was returned from Barclays saying I had already subscribed to that year. They had been so slow that with the deposit It had gone into the next year, for this reason I was not able to use my full allowence for the previous year and they couild do nothing about it due to the ISA rules

Guest (not verified):

i have had the same problem i called the new bank today and they have now recieved my isas from barclays 3 months after they stamped the forms to begin, i have put a complaint in which i was advised i would recieve a phone call within 48 hours 2 months on still no phone call but lots of the smae bla bla letter, financial ombudsman maybe?

Silvia (not verified):

I was just about to invest money through Barclays and all these comments have made me think again. Anyone know anything about Leeds BS or Yorkshire BS they are my alternatives?

Kevin (not verified):

When my dad died barclays fiddled about for weeks before they agreed to transfer the money in his account to my mums even with a probate letter from the court.When they finished they sent her his old bank books with his name crossed out and @DISEASED@ scrawled all across it.
I'm sure mum was pleased to have such a nice memeneto.
When mum was taken into care and very very ill,barclays claimed to have lost the copy of her signature and insist she'll have to get to the bank somehow and sign to get access to her savings.
I'd not go a mile down wind of this sorry shower.

Kevin (not verified):

When my dad died barclays fiddled about for weeks before they agreed to transfer the money in his account to my mums even with a probate letter from the court.When they finished they sent her his old bank books with his name crossed out and @DISEASED@ scrawled all across it.
I'm sure mum was pleased to have such a nice memeneto.
When mum was taken into care and very very ill,barclays claimed to have lost the copy of her signature and insist she'll have to get to the bank somehow and sign to get access to her savings.
I'd not go a mile down wind of this sorry shower.