End of July and this useless outfit still hasn't sent out Consolidated Tax Certificates. They are shameful and seemingly shameless. Their service is unbeleivably bad and their software is obviously not fit for purpose. The worst company I have ever dealt with. Don't put your trust in them.
Review by GodsElectNisha2 months ago
I would give zero stars were it available. I have an ongoing problem with the ETF, PHAU, which has been under investigation since November 2018. This is a gold bullion ETF. Gold is priced in USD and when I make a purchase, Smartinvestor uses the USD value as if it were a GBP value, so the system thinks I have paid more than I actually did. This obviously throws out all the performance calculations. Then this morning, I was reading my latest Smartinvestor valuation report and, under the Breakdown of Product Costs, I noticed that they are showing on-going costs of 50 bps for Ishares PLC ISHARES MSCI WORLD UCITS ETF USD(DIST) despite my having sold this holding back in January and replaced it with Ishares Iii PLC ISHARES CORE MSCI WORLD ETF USD (ACC), which has an ongoing charge of only 20 bps. So the carefully calculated ongoing costs for my portfolio are wrong. It is one thing after another. I would transfer my account in specie to another provider but I don't trust Smartinvestor to effect the transfer in a timely manner and without errors.
Review by Zavulun3 months ago
Smart Investor is a pile of garbage, they have STILL not generated the tax certificates. Last year they generated them and they were incorrect. Why is the FCA not investigating?
Review by Pattens Ayr4 months ago
customer service is the worse
had a problem with a payment not taken out then only when my account is 00.5p or there about they decide to take the payment 5 days after this wasn't their fault they said but they knew of it on the 1st and then took 5 days which was a sunday (not a working day).....i hate them with a passion for how they think everyone is thick
Review by Vilagpolgar Phukan4 months ago
This is not a good system. The old system was far better
Review by Deion4 months ago
Absolutely appalling service - still unable to send me a Consolidated Tax Certificate for the last FY.. When I telephoned this morning: I was told/promised that this would be issued in "days" only to then receive a text from them two hours later to say this will be issued in "weeks". Barclays Stockbrokers was great in the past - Barclays "Smart" Investors are a complete joke.
Review by Mstot4 months ago
I have been trying to close my Smart Investor account since this utterly useless outfit was set up and I just get told different stories every time I speak to personnel at ‘smart ( dumb) investor! It seems they just want to delay and delay so that they can keep charging the monthly fee. Smart investor is a total disaster for anyone who want to invest in shares. Hargreaves Lansdown offers a proper professional service. Barclays are cheating people by making out Smart (dumb) Investor is somehow comparable and that you have sufficient information to invest with confidence. The financial regulators should close this useless outfit down and compensate people who have been lied to and cheated out of fees and insufficient advice. If this is the best Barclays can offer I recommend you avoid Barclays altogether. I have banked with them for over a decade and having sold my business have decided to move to HSBC, a bank that seems to offer a far more professional and sophisticated service
Review by Ngofung Brittin4 months ago
How many pages of negatives should I write? Well, I'll make it short and easy to digest, Avoid this useless company.
Their customer service is really poor. Just one example. Last year they sent out 3 Consolidated Tax Certificates, the last one being a correction received end August when my tax return had already been sent out. This year I am informed, Tax certificates will be sent out during June and July. Hargreaves Lansdown had these ready during the second week of April, Interactive Investor and Halifax Share Dealing had them ready in early May.
In general, the Software has been set up by people with little understanding of investment and instead of taking the best of Barclays Stockbrokers, they started from scratch, made a pigs breakfast and lost a load of customers, including myself.
'If it 'aint broke don't fix it.' You are best off going to a more professional company. And if you have a serious complaint, don't bother to complain to the Director responsible. She won't reply. She doesn't care and can't be bothered.
Review by Fizzywigg Tamanna4 months ago
Smart Investor really is awful. They consistently fail to send me important documents eg. corporate actions on time. I received one in the post today which said I had to take action by yesterday. Nice one, you bunch of useless muppets.
Review by Benisse5 months ago
As a customer for over 50 years, I can honestly say they have gone downhill at a fast rate of knots over the years. My current complaint involves their inability to supply a yes or no answer. Im so annoyed with them, Ive just fired off a complaint to their CEO.
Review by MsPerfect5 months ago
Absolutely shocking service - I have a Smart Investor Account with Barclays.
They've recently changed the online banking system which means you have to call to change your address.
It took me 90 minutes and 5 phone calls to 4 different advisors to actually get this actioned. Nobody actually had a clue of what was going on or how to get this done.
The first call advisor said my membership number was valid and accessed my details then he passed me through to another call handler that said my details were invalid.
An absolutely joke! What a way to make a customer feel valued.
This is why Fin-tech banks will annihilate traditional banks like Barclays.
Review by Oyekanmi6 months ago
Smart investor is really bad - yes, cheap but you certainly notice it! I was a sizeable investor through Barclays Stockbrokers and very happy - can't we just go back to the old system?
Review by Deicy7 months ago
Barclays Smart Investor - ISA Platform is rubbish beyond comparison. and on top of it they have one of the extremely poor and untrained staff.
I Switched to Smart Investor lured by its name and being cheap compared its counterparts like HL.
Didn't took long to realise majority of the Popular Funds are not available via this platform.
Being from a Investment background myself found it really frustrating to deal with Barclays who have very little understanding of the investment products available in the market.
I've spend the last two months transferring my funds from other ISA providers to Barclays which still haven't happened yet.
I don't think they actually have a proper transfer process in place.
Initiated a transfer of 20 Grand worth of funds from HL around March 2019, which has appreciated 8% since then.
But can't sell and book profit as the funds are transferred out of HL but not received by Barclays.
Wasted several hours on Customer Care, who have no understanding of the Finance.
Review by Zeronius Undone7 months ago
Smart Investor has taken 5 months from early September '18 to complete my SIPP transfer out. This was despite a straightforward portfolio and many 'chasers' from both me and my new provider. They hung onto over £40k of cash for nearly 3 months and still hung onto £4k for another 2 months until 7 Feb. They kept the cash and paid zero interest, preventing my investing it elsewhere. Many promises to expedite along the way but no explanations and no feedback as promised. Also, frequently delayed dividends and dismal lack of communication. Their promises made over their 'online chat' yield promises, excuses but no action. I complained to the Pensions Ombudsman over a month ago.
I was a loyal, satisfied customer of Barclays Stockbrokers (and a Barclays shareholder) for about 20 years. It's hard to understand how Barclays could mess up the change to "Smart Investor" so badly.
Review by Thulane7 months ago
You have to use other banks to be able to see the difference.
I was gobsmacked when realised what other banks do. I was having a personal account, a business account and a credit card all and only from barclays, for 2.5 years. Once I got to other banks I saw the difference and I wish I had realised earlier.
The few things I can say is ...
1. If you are not in premium accounts (operating with at least 100K+ each year) your customer service, support and overall banking experience will be the worst from all banks.
2. Their fraud department is quick and efficient in events of online thefts. But other banks (NatWest, HSBC) are much faster and efficient.
3. Their Android app is always in maintenance, and It's all buggy.
Their website and online portal is very hard to navigate. There is much more advertisement than actual information and options to navigate. It is a vary frustrating experience.
4. You never get to the right department when calling them. No matter what options you choose, you always end up on one initial first contact team. Funny is even when you try to navigate through either business or personal account you never know, as their agents don't bother to introduce their self properly with their team and position in whatever department they are.
They just shoot their "no way to catch" and "never heard of such" or "forget about to pronounce it back" type of names, And 3 minutes later realising you are talking to the wrong person.
By the way from all telephone customer support I've used all my life, Barclays are the most worst one ..on all levels
I still keep the accounts, but I don't bank with them that much.
Review by StyleCat8 months ago
Automatically moved onto Smart Investor service without agreeing on anything. Been Charged £4 a month for nearly 2 years, despite having 1p in the account and never using it.
What's more, is complained to cancel more than once (last time was over a year ago). Sadly involved with financial ombudsman now as getting nowhere with Barclays customer service.
Also closing all my other accounts with Barclays now after over 12 years with them, sad to be let down like this. Avoid.
Review by Haskins9 months ago
If there was a zero rating I would use that.
Same complaints as everyone else. Be warned also that if you forget your online banking password, you won’t be able to log onto the system until you receive a new one in the post....up to five days later.
How many companies make you wait five days to reset your security?
Barclays don’t care about the customers affected by Notsmart Investor and are clearly happy to supply their competitors with an endless stream of new customers. Not the way to run a business in my view.
Review by Knome Klimkowsky9 months ago
Having supplied all the required information after my mother passed away, they lost all the records and I had to start again. Blamed on "system error" so not their fault apparently.
Review by Amaia9 months ago
Just left Barclay's Smart investor back to my old ISA provider. Largely its because I can't move any of my US shares onto it (this isn't very clear on the site), however overall the smart investor platform has been hard to use (the functionality isn't great and it's hard. To find things. There's also no ability to direct debit for fee payments and my transfers both in and out were slow. After the transfer, despite having no stocks I was charged for account fees until the account was closed.
I can't recommend smartinvestor.
Review by Beauchesne9 months ago
Ive been using Barclays 'Smart Investor' now for a year. Its utterly frustrating, trying to sell a share or buy a share frequently ends with "Your quote request cannot be processed, please retry". And on more than one occasion I got the message that the market was closed when it was clearly open ! I often get logged out for no reason, and my balances sometimes make no sense (My current balance is -36% despite being up 20% for example) I have contacted them in writing several times about this and they just send standard replies, refuse to compensate me for stock losses and have yet to fix anything ! Their advice last time was to use their telephone service to sell and buy shares. but thats a nightmare too, so much security and passwords, and its frankly not an acceptable solution in this day and age. The interface is quite good, if it can be made to be reliable. . . . . its shocking how companies can pay so much for IT when they are shutting branches and paying their counter staff a barely liveable wage.
Review by PiMe Alsafeer10 months ago
- Truly awful
- Difficult to transfer money in and out
- Difficult to trade
- Very limited analysis information
- No way of exporting trades to a spreadsheet for capital gains tax calculation
- Smart investor is a platform designed by very dumb people who have clearly never traded.
- It replaces the Barclays stockbrokers platform that was great - to go from great to truly awful requires totally inept management - its terrible
Review by Nagender Hafezian10 months ago
Barclays Smart Investor continues to offer the worst service and is so difficult to use. I cannot even get a simple chronological statement of my investment transactions. I had been with Barclays Stockbrokers for many years, this was a very good service, but then Barclays forced the change to Smart Investor - what a disaster. Am moving away from them after 40 years because of the their atrocious service.
Review by HanC Kempton10 months ago
Never, never, never sign up to Barclays Smartinvestor - it's a lobster pot. Easy to get in but impossible to get out. Been waiting for more than 10 weeks for them to turn my transfer paperwork around and they just continually charge fees and then refuse to execute the transfer until I pay up. Awful, dreadful service.
Review by Mersadiez10 months ago
Really frustrating when your options are limited feels like some uneducated have designed the software. getting reduced functions compare to other where others are going advance barclays are going backward.
*Please management just have a looked how other companies turning into gold an why barclays your losing customers.
Review by Nifla11 months ago
Barclays UK is absolutely the worst bank I have never seen. Their banking online is a king of torture. They block your account for any reason just to keep your money hold by the bank for many weeks in name of cybersecurity. I closed my account for the mediocre quality of service and the incompetent employees of this miserable bank.