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Disaster at Barclays Stockbrokers?
Alan O
Posted: 01 June 2018 08:35:40(UTC)

Joined: 25/01/2016(UTC)
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huudi;63154 wrote:
Does anyone have an e-mail for Dumb I?

I use client.relations@barclays.com. It may be better to head any correspondence "Formal Complaint" which has certain processes attached to that wording.
huudi
Posted: 01 June 2018 09:57:06(UTC)

Joined: 11/06/2010(UTC)
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Alan O;63231 wrote:
huudi;63154 wrote:
Does anyone have an e-mail for Dumb I?

I use client.relations@barclays.com. It may be better to head any correspondence "Formal Complaint" which has certain processes attached to that wording.


Thanks Alan, I found this in previous pages(~21) & cc'd to all & sundry. Expecting nothing, I was surprised to be called back in less than an hour when I had to explain what I had so clearly written, we are promised a call back today. I had to give account details on the phone for 'security' yet I had no proof of who I was talking to. Secure? I don't think so!

Sending messages or queries about your investments is a top security issue it seems which is why it is restricted to people with Barclays bank accounts (which any criminal can have), so they're not changing that. I note that along with the ISA we have a cash ISA account which was not applied for, it just appeared, pity it was empty.

They assure me that they have more staff than ever and prefer phones to putting things in writing, if you are deaf its tough luck. I resolve from now on to keep a book listing dividends due/ paid etc, just like pre-internet days, I may well go back to certificates & phone dealing as I can see the internet collapsing under our feet.

I am surprised Citywire have this blog listed as "general chat", it is a "disaster" and expensive for all involved.

Stop Press, I now have a message promising a reply by 25th June, not today. Didn't hold my breath. Plus the six fee charges in one day was because although they did not charge DURING the disruption, did not mean they would not charge eventually. Worthy of Dell-boy.
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W.h.westlake on 01/06/2018(UTC)
DGL
Posted: 01 June 2018 10:26:05(UTC)

Joined: 27/03/2012(UTC)
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My grumpiness over this whole transfer has NOT subsided. Unfortunately I am no longer a B's shareholder.....I understand this issue was raised at the B's AGM , but quickly brushed under the carpet....
Why is no journalist pursuing this ?
1. How many B's Stockbroker customers have left since move to S.I ?
2. How much assets have they taken with them ?
3. Who, if anybody has been fired ?

I would have transferred all my investments out - but don't want to risk the experiences suffered by those who have ….
As mentioned before the latest cock-up is a spurious credit to my account (so I won't bitch about that too much !)
Alan O
Posted: 01 June 2018 10:48:02(UTC)

Joined: 25/01/2016(UTC)
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Dumb Investor has a page at https://www.smartinvesto...s.co.uk/contact-us.html with details on how to get in touch. I have a Barclays bank account so firstly, send a Secure Message. If no response within a few days, I write a letter to Specialist Complaints, P.O. Box 27127, GLASGOW, G2 9LF and send by Royal Mail Signed for.

I avoid phoning as the issues I have needed to raise are normally complex and best put down in writing.

If you don't have a Barclays bank account, one could always be opened with just £1. Dumb Investor will be linked to that and then you will get Secure Messaging.
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Mr Helpful on 01/06/2018(UTC)
Nigel G
Posted: 01 June 2018 11:04:21(UTC)

Joined: 03/07/2014(UTC)
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huudi;63239 wrote:
I am surprised Citywire have this blog listed as "general chat", it is a "disaster" and expensive for all involved.

It's in the general chat forum because that will have been the category chosen by the original poster.
huudi
Posted: 04 June 2018 07:35:51(UTC)

Joined: 11/06/2010(UTC)
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If Barc read this they must know who huudi is by now.
The dividend I queried, or rather the 0.66 of a National Grid that paid it was the result of a corporate action? The full dividend was paid earlier and details are in those buried archives, the fractional share has vanished into the ether.
The 6 fee payments will be refunded I am told as I had no access to my account, they were arrears. As compensation for this I will be sent a bottle of wine! paid for from the one billion set aside to clear this mess, whatever it is, I bet its not a patch on my home brew!
I'll decide my move when this round of re-platforming ends, Selftrade have announced increased charges following the screw-up of their site.

Alan O, I wrote to 'specialist complaints' plus two other barc addresses, each promised an answer in 4 weeks, only one replied after 5 weeks promising an answer in another 4 weeks. They seemed to disown D.I. The fact is if it needs complaints then its not a service we want.
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Alan O on 04/06/2018(UTC)
Stephen B.
Posted: 07 June 2018 11:03:57(UTC)

Joined: 26/09/2012(UTC)
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A couple more things ... some weeks ago I got a Barclays Stockbrokers tax voucher. After a while I asked where the one was for the SI period and was told I'd get it in 1-2 weeks. After 2 weeks I asked again and was told I'd have it in a week or two. I do now have it as an online document but not on paper. Unfortunately it's wrong, it classifies an interest payment as a dividend. An initial complaint produced the nonsensical answer that they are now treating dividends and interest the same - after I pointed out that that's not how hmrc see it they're looking into it. I'd suggest that people don't rely on the tax voucher without checking it ...

Separately, last year I complained about the handling of a corporate action. After some time they rejected the complaint itself, but offered me £50 because the complaint handling had been poor. At the time I didn't accept because the issue itself wasn't resolved, but after a while it sorted itself out so in February I said I would take the £50 (why not if it's offered) and they said they'd pay it. However it didn't appear, so recently I complained about that. They have now paid me the £50 plus an extra £50 for not paying the first £50 - all this even though they rejected the original complaint! (I did think about taking that to the FOS but couldn't be bothered.) I like this bit in the email: "I appreciate this will not change your experience but I hope it may go in some small way to restoring your faith in us." Well, I definitely have complete faith in their ability to mess up even the most trivial things ...

Having moved my ISA to HL (less 6p in cash and a holding in liquidation, still no idea what's happening there) I've now started the transfer of my non-ISA holdings. Ironically my main original objection to SI was the much higher fees, but I've yet to be charged any fees at all - I still have no clue what's happening there or whether I will eventually get a retrospective bill, but I'm past caring at this point ...
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charles goody on 07/06/2018(UTC)
Alan Selwood
Posted: 07 June 2018 14:13:32(UTC)

Joined: 17/12/2011(UTC)
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I'm trying to decide whether the last post makes me think more of George Orwell's 'Brave New World' or Franz Kafka's satires on 1920s Czech bureaucracy and politics.

A close-run contest, whichever way I decide. But certainly the ultra dumb Smart Investor saga beggars belief as to how incompetent and uncaring a once-competent institution can become. A bit like HMRC really.
DGL
Posted: 07 June 2018 14:30:40(UTC)

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Alan
Sorry to be a nitpicker - but Brave New World was Aldous Huxley - Orwell's was 1984.
huudi
Posted: 08 June 2018 21:10:57(UTC)

Joined: 11/06/2010(UTC)
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The madness is catching. It seems only yesterday that interactive investor changed its site (for the worse) when joining with T.D.Waterhouse, now I'm told of a rush decision to move to ANOTHER new site! A lot of things will not work they say (another one?) and to add to the confusion they are dropping an 'i' from the page address.
Here we go again, there must be some financial motive behind the mess, how do they profit from re-platforming?
P.S. "we have written to you"....ergh..no, a last-minute e-mail, its D.I. mark 2.

P.P.S Shareprice website has vanished! without a hint. I like many used it as a quick look-up page listing my portfolios & all shares of interest. Now this has been wiped out, no warning, just gone! Another reason to go back to Paper & Pen.
Alan Selwood
Posted: 09 June 2018 08:28:58(UTC)

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DGL;63529 wrote:
Alan
Sorry to be a nitpicker - but Brave New World was Aldous Huxley - Orwell's was 1984.


I stand corrected. In my defence, it's about 60 years since I read Brave New World, 1984, and Animal Farm. The little grey cells do seem to resemble a colander in the end!
Stephen B.
Posted: 12 June 2018 15:56:44(UTC)

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As an update on the tax certificates, after two replies which seemed not to grasp that interest and dividends need to be reported separately I escalated it as a formal complaint, and they now seem to have acknowledged that it's wrong and say that certificates will be reissued.
Stephen B.
Posted: 12 June 2018 16:05:19(UTC)

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By the way, I think a suitably updated Kafka story would be a telephone help line with a number specifically allocated to you, which puts you on hold whenever you phone it ... something like "we are experiencing an unexpectedly high call volume: there is -one- waiting call, your call will be answered when the number of waiting calls reaches -zero-" ...
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Alan Selwood on 12/06/2018(UTC)
David Trigg
Posted: 12 June 2018 16:16:24(UTC)

Joined: 20/03/2010(UTC)
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On a completely different note and not related to Barclays:

Try buying travel insurance if you are going on a lengthy trip which is expensive and which straddles the renewal period of your annual travel insurance. It took me half a day to book the trip and what is approaching a week to get the insurance.

It is the kafkaesque nature of the nerds who design systems but cannot relate to the other entities on the planet called human beings.
Alan Selwood
Posted: 12 June 2018 16:52:17(UTC)

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In fairness, that does sound like quite a complex situation on which to assess the risks, and to determine who is liable to pay out the claim if one is made.
(Do you claim cancellation insurance on the policy that was in force for the time that the trip would have started, or the one bought to cover the period of the trip; how do you apportion claim amounts between two different policies if both cover the same period and offer different levels of benefit for the premiums paid?).

The real problem these days, I think, is that some customers try to be greedy and benefit unfairly, while some underwriters want to limit the damage to their profits by using loopholes they have spotted in the wording and the claim situation - since no two cases are the same.

If everyone was an 'honest member of a close well-principled family' and the family unit itself underwrote the hardships of individual members, there would inevitably be scope for the family group to talk about this one-off situation and decide that 'this sounds a fair solution to us, and is how we would want to be treated if it happened to us'.

Sadly, too many family units aren't like this, and of course more distant relationships (like insurer & unknown client) are even less likely to provide flexible and equitable solutions.
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David Trigg on 13/06/2018(UTC)
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