Barclays plc is a British multinational investment bank and financial services company, headquartered in London. Apart from investment banking, Barclays is organised into four core businesses: personal banking, corporate banking, wealth management, and investment management. The company has over 325 years of history and expertise in banking and investments.
Barclay’s Cash ISA is a savings account that allows you to save money in a tax-efficient way. There are several options:
Instant Cash ISA
Tax-free savings that allow you to access your money anytime you want to. You can open this ISA for as little as £1, the maximum yearly allocation is £20,000.
2 Year Flexible Cash ISA
Tax-free savings that allow you some access your money. This ISA earn a fixed rate on your money. You can open this ISA for as little as £1, the maximum yearly allocation is £20,000.
Premier 2 Year Flexible Cash ISA
This ISA is for Premier customers only. You earn a fixed rate on your money and have the flexibility to access some of your savings too. Open with £1, the maximum yearly allocation is £20,000.
Wealth 2 Year Flexible Cash ISA
This ISA is exclusively for Wealth Management clients only. You earn a fixed rate on your money and have the flexibility to access some of your savings too. Open with £1, the maximum yearly allocation is £20,000.
Lifetime ISA (LISA)
If you’re aged between 18 and 39 you can open a Lifetime ISA and save up to £4,000 each tax year, every year until your 50th birthday. The government will pay an annual bonus of 25% (capped at £1,000 p.a.) on any contributions you make. Funds can be withdrawn tax-free at any time in order to buy a first home worth up to £450,000, and from age 60 for any purpose. You can open more than one Lifetime ISA, but will only be able to pay into one in each tax year.
Barclays has a large range of Banking, Borrowing and Investment Services, Mortgage Policies and Home and Travel Services.
Barclays Reviews and Ratings
Online reviews for Barclays are bad with users complaining about shocking customer experiences, poor responsiveness and limited online help. Many customers have been left on hold, waiting to talk to an adviser, for up to 6 hours. Negative reviews have even come from customers who have been loyal to the bank for many years.
- A large selection of Cash ISAs to choose from
- Over 2,000 funds and Exchange Traded Funds (ETFs), trusts and shares to invest in
- Smart Investor provides access to tools, articles, videos and research to help customers make informed investment decisions
- Useful online resources available such as the cover calculator tool
- Handy online jargon buster guide
- Transparent fee structure
- Provided and administered by AJ Bell, an award-winning pension provider
- Fast easy online setup
- Very poor online reviews from unhappy customers
- Slow customer service often reported
- Reports that existing customers are also not treated well
- A large fairly overwhelming website, information can be hard to locate
- Cash or Lifetime ISAs only
- Stocks and Share ISAs not available