Reply from Barclays UK
9 Jan 2020
I’m very sorry to hear of the troubles you’re having trying to open a Smart Investor Account, I can appreciate how frustrating this must be for you. I’d make sure that you keep in contact with your complaints handler until you get this resolved, hopefully you’ll be up and running soon! Thanks, Kevin.
I am sorry Kevin You just don't know what you are talking about and you just don't know who my complaint handler is. Please do not respond when you just have not done anything and Barclays has not resolved this problem for over 2 weeks- Appalling that Barclays allows you to write a misleading response. The regulator needs to investigate this matter and your response
Review by Thost Kjffh1 month ago
Horrible experience with Barclays. They closed my accounts without solid ground and unable to withdraw my fund for 3 months. They did not notify me that smart investor is still active and charged me customer fees for next 3 months. When I am able to withdraw my fund from closed accounts then only I found out that it is still active. They also asked me to pay £25 to write cheque to withdraw my own money. I don't recommend anyone to get account with Barclays. Most horrible bank I have come across. A lot of inconveniences caused me emotional distress and wasted a lot of my time.
Review by Tresea2 months ago
My daughter is still trying to get online access to her SIPP after 18 MONTHS of trying.
They finally said they have a technical problem with child SIPPs but cannot say when it will be resolved. If they have such a problem, they should not advertise the product.
Review by Glazastik Rought2 months ago
I am trying to transfer an existing SIPP to Barclays, but they simply don't seem to want my money.
I have telephoned and written to ask about progress many times (so far 6 weeks) but get a different answer each time. The answers vary from the paperwork is not correct, then yes it is, the SIPP transfer is on the way, we will get back to you asap (which of course they never do). If the process takes months why not just admit to that in the first place? Meanwhile I am still being charged for two sets of SIPP admin costs with no idea of how long the transfer will take. weeks? Months? years? Will Barclays refund those charges please?
Review by Keitene3 months ago
Am currently doing a re-mortgage with Barclays and barclays is providing Enact as the conveyancer (Free). The Enact team is very lethargic and least receptive to calls and keep the clients in dark.
I would not recommend Barclays and Enact for Re-mortgage and it is a sorrow that if you contact Barclays they are pass the buck to Enact (who do not reply). I wish I could raise a compliant but left in dark. I hope the FCA (regulator) wakes up to such practices by the so called responsible lendors.
Review by Djewel3 months ago
Just had a very helpful conversation with a Barclays SMART Investor adviser. He clarified a few points , made a few changes and set up the necessary monthly debit . Many thanks .
Review by Bafford3 months ago
Platform poor, significant information varies between pages (value of investment, fees, customer service poor, they don't understand their own products, complaint handling poor, pass on complaints to other departments inappropriately without reference to original complaint so clock restarts. WEB site misleading. Funds maaged by Barclays invest in Barclays (whose market performance is poor). Fund managers have external poor reviews.
In summary, a money box for Barclays who provide poor information to investors who take all the risk. The only people to profit are Barclays.
Review by Lynann3 months ago
Smart Investor Internet site logs you off every few minutes even when doing things. This means you spend most of your time loging back in & trying to achieve what you had wished to do. Charts and information are poor. Best point is its cheap which eases the suffering involved
I have been longstanding customer of Barclays but the SmartI nvestor site problems resulting from being linked to the banking site are just ignored
Review by Sweetmolly4 months ago
My current smart saver account is not so smart at all. My investment is declining in value! It has 6 months to mature but I feel I've been hoodwinked into thinking I'd make a lot more money than an ordinary ISA, But by the looks of things I think not!
Review by Anushi Khadykin4 months ago
I was on Barclays a few years ago.
Horrible bank. Awful customer service.
A few weeks ago
I recently tried opening a savings account with Halifax and was denied and was told to contact CIFAS and request some information about why i was denied. From what i am gathering i must have some sort of marker on my account.
I am assuming it was an incident that happened when i was with barclays. i was 17/18 (22 now) and i lost my card at a club event.
I received a phone call from Barclays telling me there was fraudulent activity on my account.
So I then went on to cancel the card (obvious thing to do) and thought nothing of it for the next month or so.
Only for my account to be closed without any formal explanation. Only that they had "conducted an investigation and decided to close the account".
I tried calling the customer service line multiple multiple multiple times with no success.
No one would even speak to me. I was in 1 hour+ call lines and when i finally got through, i was put on hold only for the line to just hang up. (clearly the advisors just didnt want the trouble) I tried calling back and it was just the same process same thing over and over.
Eventually, i just gave up. I googled every possible person i could get in touch with to help me in this situation and i couldn't find a single thing. By the time i found out about the ombudsman service, i was all tired out and just felt defeated. I felt like no one would listen and in that in all honesty, they wouldn't listen either.
Being 18 I had no clue of the implications of this in the long term or else I would have pushed it a lot harder.
I eventually opened a prepaid account and have been using that since. (cashplus) When applying for accounts i would always get denied with absolutely no explanation and i have always wondered why. I have had many credit checks over the years and I haven't seen anything about a CIFAS. Only recently with this savings account has any bank even vaguely mentioned a reason as to why i got denied.
I honestly wish I knew about organizations like CIFAS and Ombudsmen when this whole ordeal initially happened.
Barclays never investigated or if they did they they clearly didn't do anything properly. The customer journey when going through a situation like this is awful and you won't get any help. You're lucky if you even get contact at all. They just throw you to the wolves and wash there hands. Pray you never ever get into a situation similar to this because it will impact you for the rest of your life.
Review by Timperley Seffrin4 months ago
Barclays have written to UK non-resident clients telling them from 5th November their smart investor accounts will be effectively frozen, though they can liquidate their investments and transfer to another provider. Fine except if you have an ISA because current regulations don't allow current UK non-residents to transfer ISA's between providers. So effectively, non-resident clients are given the choice of losing their ISA tax wrapper or having their account frozen.
Bottom Line: If you're choosing a new ISA provider and think you might in the future live, work, study or retire abroad DON'T CHOOSE BARCLAYS!!
No other ISA provider has a problem when their clients move abroad.
Review by DocRocker4 months ago
A customer of Barclays Stockbrokers for over 20 years. All worked reasonably well.
With the transfer into Barclays Bank and Smart Investor, it's gone downhill rapidly. I hoped it could be teething problems, but no! The whole log-in process is getting hugely unreliable.
It can take minutes for a screen to load up (no, it is not my broadband connection), often I fail to be allowed to log on. And when logged on the automatic log-off is unreasonably short.
Come on, Barlcays IT team! Your service is a disgrace. Sort it out!
Review by Ravanda Schweres5 months ago
I've been a loyal customer with Barclays Bank for over 50 years. I have more than one personal account; one joint account and a savings account that has a considerable amount of money in it. I have never been in debt with Barclays and for those reasons, Barclays have made good profits with my money.
Recently, I wanted to open a new personal account - but was refused. I was told by Barclays "Your credit rating is poor: so no!". They got that rating from Experian, So I checked my rating at Experian: 99%; obviously not good enough!
When I enquired further at my local branch, I was given the cold brush off; staff were very rude to me.
Hence advice: do not use Barclays Bank for your everyday personal Banking needs, But I will add: Barclays never used to be like this, but they are now.
Time to change my everyday bank.
Cheerio Barclays! Good riddance.
Review by Dickyi5 months ago
If you go with them they will fleece you and thank you for it premium banker circa 2005 to 2012
Review by Sazbee6 months ago
I would give 0 stars if I could. The back office service is truly hopeless. We had accounts for 5 different family members and we have had problems with every single one of them.
For example my daughter has been trying for 9 months to get online access.......5 phone calls, 1 branch visit, two complaint letters and issue is still not resolved. The incompetence is breathtaking.......
Review by Visionthing7 months ago
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 GodsElectNisha7 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 Zavulun7 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 Ayr8 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 Phukan8 months ago
This is not a good system. The old system was far better
Review by Deion8 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 Mstot8 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 Brittin8 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 Tamanna8 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 Benisse9 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.