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Disaster at Barclays Stockbrokers?
David Trigg
Posted: 19 October 2017 17:13:53(UTC)

Joined: 20/03/2010(UTC)
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Re the comments regarding dividends. I am in the process of transferring to AJB. How do I know any dividends credited will be correct and how do I know any statement of dividends and Capital Gains (if any) will be correct? Do I have to request these from Barclays or will they post them (hard copy) automatically?

Just to advise; my transfer application went in one month ago and Barclays have not completed stage 1 (valuation) yet.

Stephen B.
Posted: 19 October 2017 17:14:50(UTC)

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I do get it, although it's a bit erratic. It's just the Digital look mail repackaged.
Jay Mi
Posted: 20 October 2017 18:46:55(UTC)

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I've just received a text today from iWeb to say thy've contracted Barclays to initiate the transfer and it may take longer than normal due to a Barclays backlog!
It's taken just over three weeks from sending iWeb my details for the transfer, for Barclays to acknowledge it and lock me out of the account for the transfer.

Slightly quicker than I expected..

Hank Elvis Dobbs (texan)
Posted: 20 October 2017 19:52:08(UTC)

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..Just buy the bloody shares...and you'll soon stop moaning ..for fucks sake...(its after the watershed)...boring B'stards
Stephen B.
Posted: 21 October 2017 10:10:52(UTC)

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David Trigg;52148 wrote:
How do I know any dividends credited will be correct and how do I know any statement of dividends and Capital Gains (if any) will be correct? Do I have to request these from Barclays or will they post them (hard copy) automatically?


I think they have a legal duty to provide a tax statement listing taxable dividends etc (i.e. not in ISAs). I'm not sure I'd bet on it being correct though, it will probably be worth checking. Capital gains tax is your responsibility anyway, all they have to do is provide access to contract notes.
1 user thanked Stephen B. for this post.
David Trigg on 21/10/2017(UTC)
Eileen Abell
Posted: 23 October 2017 19:58:18(UTC)

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Today I received a phonecall from a pleasant-sounding man from Barclays, in reply to my complaint about their appalling new stockbroking site, SmartInvestor, registered in early September. He apologised for the initial difficulties experienced by former clients of BS and assured me that the new SI site would be "undergoing ongoing updates to improve it to address current issues" (OWTTE). He urged me to go onto it on a daily basis (as I do anyway, as an active share-dealing client, reluctantly and dreadingly nowadays), where I would see amendments and improvements to the site to reflect the input they've received from their existing clients.
There was, in his replies, an underlying admission that Barclays had failed on the launch, but explained that their "platform" had been designed to appeal to a wider clientele, ie that of the basic cardholder/bank a/c holders who possibly had money to invest and needed guidance etc...
I pointed out that all WE wanted was a basic share-dealing "platform" without necessarily being Barclays Bank customers and had been extremely disappointed with the dumbed-down, access via online banking, patronising and white-space difficult-to-navigate new site, together with its limitations (ie having to go to a separate page for "Research" which had all been visible instantly in one page on original award-winning site, etc. (Oh, I did go on and on, believe me!)
He didn't exactly retract the fact that the new site wasn't up to the old one, but I got the impression that his script was to the effect that "they are doing damage limitation" (my quotes) in that their new SI site will be undergoing changes to improve it for us, their sadly disappointed (and now fleeing), former clients.
I raised the problems experienced by others (from my reading of various blogs online), that many former clients had had long periods of delay whilst transferring their investments to alternative brokers and he admitted that it was now taking 8 weeks, due to registrars' involvement, ie transfers of title etc, which takes time and also given the enormous volume of requests to leave them have delayed it, which I can understand but pointed out that at the moment I cannot remain "out of the market" for 8 weeks! He accepted this point but offered no answer.
He offered me £100 as compensation, which I duly accepted, as (I had said on this forum previously that I wasn't after compensation for any money lost due to the fiasco), it covered the phone-calls and some of the time I've wasted on figuring out their stupid blank-white new site.
The person I spoke to was a very genuine person, experienced in financial matters, who understood my concerns. This is not to exonerate Barclays, but at least its an attempt to redress me, as one of their poor customers' (sorry, clients') ongoing complaints. Any further questions about this please post!
DGL
Posted: 23 October 2017 20:27:33(UTC)

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I too have had a formal answer ( by letter) to one of my complaints.
My complaint is that, as a non- Barclays Bank customer, I have no facility to email Customer Services with (for example) non-urgent enquiries. - I am forced to phone which can waste my ( and their ) time.
Their answer - precised ' tough sh*t - no plans blah, blah....
Eileen Abell
Posted: 23 October 2017 21:30:09(UTC)

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DGL -
Did you address your complaint to anyone specific? i emailed mine to Mr A Thaw in person, Never expected to get a reply but had several texts since Sept to say my complaint was registered as number xxxxx, and would get a reply before 27 Oct, then got a phonecall today, see my previous post as a resume of outcome of complaint.
Customer Services at B.......s are cr.p, take ages and multiple button-pressing to get through and best avoided as they are largely attuned to their non-stockbroking ordinary customers
Try sending a complaint to the CEO of Barclays Stockbrokers/SmartInvestor? Whoever he is now, just google for the current one!
Micawber
Posted: 23 October 2017 21:56:41(UTC)

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On three occasions during the past year I have addressed very specific questions to Barclays using their internal secure messaging system, and I got answers that were at best fluffy. In fact, they did not answer my questions. So I find their customer response more of a PR exercise than anything else.
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