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Disaster at Barclays Stockbrokers?
Alan O
Posted: 07 December 2017 01:16:12(UTC)

Joined: 25/01/2016(UTC)
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Charles Hayes;53965 wrote:
For REITs, they have withheld 20% from any account, including ISAs and SIPPs. They did not used to do this, of course. So I phoned them. They said it was a result of moving to the new platform and that the tax would be credited back to my account in a few weeks.

Suggest you take a look at https://www.lemonfool.co...mp;t=7111&start=300 post #95501 Nov14 2017 @12.49am and onwards where other have complained about deduction of Witholding Tax on REITs within ISAs and SIPPs. Clearly not thought through when Dumb Investor was designed.

My Formal Complaints are resulting in cash compensation payments and the most recent is the offer of a luxury hamper, none of which preclude escalation to the Financial Ombudsman.
1 user thanked Alan O for this post.
David Trigg on 07/12/2017(UTC)
john curran
Posted: 08 December 2017 13:05:40(UTC)

Joined: 04/09/2017(UTC)
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started transfer of my Barclays ( sorry, Smart Investor ) account on 5 September. Nothing happened for about 4 weeks, then it was apparent that I couldn't sell, but could buy. Then I noticed all cost figures wrong and transfer to be delayed until they were sorted out. Turned enquiries into a formal complaint and they have transferred the shares, without cost values.
so my new account with TD/ii has no cost figures, but I am able to sell if I want.

During this process TD and ii were merging their platforms and I thought I was going to face shambles in as well as shambles out - but the TD/ii went without a hitch.

My daughter's transfer was started on 30 October and shares ( but not cash ) transferred today, again without cost figures, which are all wrong on the Barclays side.

how can cost figures be wrong ? the figures they have are random and bear no relation to actual cost ( not a case of a misplaced digit or two, for example ).

Still waiting for my wife's account transfer started 16 October - she had one cost figure wrong, which has been corrected. Now still can't sell. So my daughter's shares have been transferred with no cost figures but my wife ( transfer started 2 weeks earlier, and with correct cost figures ) is still waiting. What a mess.

If anyone out there is still a client with Barclays ( sorry, Smart Investor ) - -CHECK YOUR COST FIGURES
1 user thanked john curran for this post.
Eileen Abell on 08/12/2017(UTC)
Stephen B.
Posted: 08 December 2017 13:31:57(UTC)

Joined: 26/09/2012(UTC)
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Personally I don't use brokers' cost figures anyway, I keep my own records. I'd be more worried about dividends, I'd suggest anyone transferring should check that all the dividends have appeared and are correct.
Keith Hilton
Posted: 08 December 2017 14:51:48(UTC)

Joined: 20/08/2010(UTC)
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Alan O;53996 wrote:
Charles Hayes;53965 wrote:
For REITs, they have withheld 20% from any account, including ISAs and SIPPs. They did not used to do this, of course. So I phoned them. They said it was a result of moving to the new platform and that the tax would be credited back to my account in a few weeks.

Suggest you take a look at https://www.lemonfool.co...mp;t=7111&start=300 post #95501 Nov14 2017 @12.49am and onwards where other have complained about deduction of Witholding Tax on REITs within ISAs and SIPPs. Clearly not thought through when Dumb Investor was designed.

My Formal Complaints are resulting in cash compensation payments and the most recent is the offer of a luxury hamper, none of which preclude escalation to the Financial Ombudsman.


I contacted Customer Services yesterday and they couldn't give me any explanation as to why the 20% was deducted within my ISA. They stated that it would be credited to my account but couldn't give any timeframe. What a shambles!

Lodged a formal complaint this morning.
DGL
Posted: 08 December 2017 16:41:52(UTC)

Joined: 27/03/2012(UTC)
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Still awaiting reply to my latest complaint.... B's accidentally paid £ 5k into my ( Lloyds ) account.
They contacted me - asking for me to pay it back....offering the modest sum of £150. This I accepted and repayed.
Later the SAME day they, again, paid me the £5 k !!!
Must be the compensation !! ??
philip gosling
Posted: 08 December 2017 17:34:37(UTC)
#95

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Big hammo;50601 wrote:
I cant see what the complaint is? Whats the problem? It looks a bit different, it isnt as good as the III website, but I use III website, for news and the blog. but I suppose so do lots of others.

It may be getting sold off but Barclays and Barcalays stockbrockers have never seen eye to eye even before the pre bob diamond days.





you mean the new ii site which isn't open yet?
john curran
Posted: 08 December 2017 18:09:09(UTC)

Joined: 04/09/2017(UTC)
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Stephen B.;54043 wrote:
Personally I don't use brokers' cost figures anyway, I keep my own records. I'd be more worried about dividends, I'd suggest anyone transferring should check that all the dividends have appeared and are correct.


I don't take them as gospel, and post-26 august purchases are inaccurate as they do not include the £6 transaction fee -- very irritating for continuing clients where one holding is made up of purchases before and after 26/8. I also have my own records, but when figures are given, I do prefer them to be correct. And I quite agree with your point on dividends.
Eileen Abell
Posted: 08 December 2017 21:33:05(UTC)

Joined: 05/09/2017(UTC)
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Just a little niggle about the Research Centre:

I just wondered whether they would be any good at watchlists than your excellent Citywire site, so I clicked onto Watchlists on the Barclays Research Centre (the one with the girl on her back looking at her smartphone, not the corporate one). Well, it needed a password for that and I had never had one before, just looked in on various shares. This is what followed:
"
Dear Mr Thaw
In desperation I am again turning to yourself, after failure to obtain any success over the following problem.

I have copied/pasted below the third identical reply I received today from your Research site after trying to access a "watchlist" on it. I never had a password for your Research Centre but when I tried to register instead of logging in it told me it already had my email address, so I went back to login and put "forgot password", so was told I would receive an email (the answer below shows my third attempt). After an hour long telephone call to your customer services (after a 37 minute musical delay before being answered despite it being early afternoon, not a normally busy time), your poor customer service call-centre scottish girl tried her best to say it was a problem of my emails, but it is Not. At her request I tried 3 different browsers to access my emails but they all were the same, see below.

>----Original Message----
>From: barclays@digitallook.com
>Date: 08/12/2017 18:35
>To: <eileen -
>Subj: Password Reset

>CiAgICAJVGhhbmsgeW91IGZvciB5b3VyIGludGVyZXN0IGluIEJhcmNsYXlzIFNtYXJ0IEludmVz

>dG9yIEFsZXJ0cy4KCgkJVG8gcmVzZXQgeW91ciBwYXNzd29yZCwgcGxlYXNlIGNsaWNrIHRoZSBs

>aW5rIGJlbG93OgoJCQoJCWh0dHBzOi8vc3RvY2ticm9rZXJzLWxvbi53ZWJmZy5jb20vbG9naW4/

>cGFzc3dvcmRfcmVjb3Zlcnk9ZjIxYWE5YTY3ZWY1MjQ0MTBmNzE4Y2ZmMzY4YTZmZjImZW1haWw9

>ZWlsZWVuLmFiZWxsQHRpc2NhbGkuY28udWsKCQkKCQlSZWdhcmRzLAoJCQoJCUJhcmNsYXlzIFNt
>YXJ0IEludmVzdG9yIFRlYW0KICAgIA==

Could you please look into your site providers, ie Digital Look, or whoever they are, to address this issue?
I want to use your Research tool but if I cannot use the Watchlist facility it is pretty useless if I cannot login.

I have tried numerous ways to present my problem in your Smart Investor site, also to contact Digital Look direct, but have been given no ability to email any of them. I am certainly Not going onto Twitter or Facebook etc to air my technical issues over financial matters, only by my secure email.
Hence I do expect a reply to my politely worded enquiry, if only out of courtesy, even if it comes from a "tech assistant" and doesn't put the blame on my computer skills. Thank you.
Yours sincerely"

I wonder if I will get a useful reply????
Tim D
Posted: 08 December 2017 22:13:40(UTC)

Joined: 07/06/2017(UTC)
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Somewhat surprised to read at the end of this Bloomberg piece today:

Quote:
(CEO) Staley has said he wants to turn Barclays into a technology company and believes it needs to develop its own proprietary systems if it wants to stand out from the competition. The lender is choosing to increasingly make senior level hires directly from industry, hiring from companies such as PayPal Holdings Inc. and AT&T Inc., one of the people said. The hires are seen as part of this drive to become a serious fintech company, they added.


which seems completely at odds with their ditching the proprietary Barclays Stockbroker for the outsourced (to FNZ) Smart Investor. Maybe it's talking more about the tech the big boys play with on the other side of the "ring fencing" around the retail operation though.
Alan O
Posted: 09 December 2017 01:07:19(UTC)

Joined: 25/01/2016(UTC)
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DGL;54048 wrote:
Later the SAME day they, again, paid me the £5 k !!! Must be the compensation !! ??

If that was me and they ask for it back again, I would say that it will be paid back at the rate of £5/week.
Micawber
Posted: 09 December 2017 06:42:03(UTC)

Joined: 27/01/2013(UTC)
Posts: 1,708

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Tim D;54060 wrote:
Somewhat surprised to read at the end of this Bloomberg piece today:

Quote:
(CEO) Staley has said he wants to turn Barclays into a technology company and believes it needs to develop its own proprietary systems if it wants to stand out from the competition. The lender is choosing to increasingly make senior level hires directly from industry, hiring from companies such as PayPal Holdings Inc. and AT&T Inc., one of the people said. The hires are seen as part of this drive to become a serious fintech company, they added.


which seems completely at odds with their ditching the proprietary Barclays Stockbroker for the outsourced (to FNZ) Smart Investor. Maybe it's talking more about the tech the big boys play with on the other side of the "ring fencing" around the retail operation though.


The signs are not good. They can't even produce a secure messaging facility where customers can read the back correspondence! And lately I tried their mobile app which proved unsatisfactory after an update a few days later. I uninstalled it.
Keith Hilton
Posted: 09 December 2017 12:19:36(UTC)

Joined: 20/08/2010(UTC)
Posts: 417

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Alan O;54061 wrote:
DGL;54048 wrote:
Later the SAME day they, again, paid me the £5 k !!! Must be the compensation !! ??

If that was me and they ask for it back again, I would say that it will be paid back at the rate of £5/week.


After my recent experience, I'd say that you'll pay it back, but don't know what the timeframe will be.
Micawber
Posted: 12 December 2017 08:11:46(UTC)

Joined: 27/01/2013(UTC)
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Micawber;54065 wrote:


The signs are not good. They can't even produce a secure messaging facility where customers can read the back correspondence! .....


A reply from Barclays: "Please be advised that this is a known issue which is currently being investigated by the Technical Team. A fix for this issue is in progress and we are unable to provide a timescale for a resolution. "

Actually, this has been an issue at Barclays online banking which long pre-dates so-called "Smart Investor." Coding a messaging system where you can display and read previous messages in a thread is not at all difficult.
Eileen Abell
Posted: 12 December 2017 11:14:41(UTC)

Joined: 05/09/2017(UTC)
Posts: 13

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Was thanked: 6 time(s) in 2 post(s)
Eileen Abell;54059 wrote:
Just a little niggle about the Research Centre:

I just wondered whether they would be any good at watchlists than your excellent Citywire site, so I clicked onto Watchlists on the Barclays Research Centre (the one with the girl on her back looking at her smartphone, not the corporate one). Well, it needed a password for that and I had never had one before, just looked in on various shares. This is what followed:
"
Dear Mr Thaw
In desperation I am again turning to yourself, after failure to obtain any success over the following problem.

I have copied/pasted below the third identical reply I received today from your Research site after trying to access a "watchlist" on it. I never had a password for your Research Centre but when I tried to register instead of logging in it told me it already had my email address, so I went back to login and put "forgot password", so was told I would receive an email (the answer below shows my third attempt). After an hour long telephone call to your customer services (after a 37 minute musical delay before being answered despite it being early afternoon, not a normally busy time), your poor customer service call-centre scottish girl tried her best to say it was a problem of my emails, but it is Not. At her request I tried 3 different browsers to access my emails but they all were the same, see below.

>----Original Message----
>From: barclays@digitallook.com
>Date: 08/12/2017 18:35
>To: <eileen -
>Subj: Password Reset

>CiAgICAJVGhhbmsgeW91IGZvciB5b3VyIGludGVyZXN0IGluIEJhcmNsYXlzIFNtYXJ0IEludmVz

>dG9yIEFsZXJ0cy4KCgkJVG8gcmVzZXQgeW91ciBwYXNzd29yZCwgcGxlYXNlIGNsaWNrIHRoZSBs

>aW5rIGJlbG93OgoJCQoJCWh0dHBzOi8vc3RvY2ticm9rZXJzLWxvbi53ZWJmZy5jb20vbG9naW4/

>cGFzc3dvcmRfcmVjb3Zlcnk9ZjIxYWE5YTY3ZWY1MjQ0MTBmNzE4Y2ZmMzY4YTZmZjImZW1haWw9

>ZWlsZWVuLmFiZWxsQHRpc2NhbGkuY28udWsKCQkKCQlSZWdhcmRzLAoJCQoJCUJhcmNsYXlzIFNt
>YXJ0IEludmVzdG9yIFRlYW0KICAgIA==

Could you please look into your site providers, ie Digital Look, or whoever they are, to address this issue?
I want to use your Research tool but if I cannot use the Watchlist facility it is pretty useless if I cannot login.

I have tried numerous ways to present my problem in your Smart Investor site, also to contact Digital Look direct, but have been given no ability to email any of them. I am certainly Not going onto Twitter or Facebook etc to air my technical issues over financial matters, only by my secure email.
Hence I do expect a reply to my politely worded enquiry, if only out of courtesy, even if it comes from a "tech assistant" and doesn't put the blame on my computer skills. Thank you.
Yours sincerely"

I wonder if I will get a useful reply????


Well, I did!
First an email from A Thaw, delegating it as expected.
Today a phone call from one of AT's team called Paul .... who spoke a lot about "awareness of issues", "working with Digital Look to resolve issues" and "integration and improvements to Smart Investor ongoing" etc.
Finally he agreed to immediately take up my password reset email problem with Digital Look, so it appears things are in a bit of a mess in that department. He is going to ring me when he has an update.
It appears that they are aware of lots of problems and hopefully they are doing something about it. I must admit that I vented my frustration, including that of many other clients, rather strongly to Paul .... and he took it quite well!
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