I am having regular problems when using Barclays online service.

When I sell shares, the amount available for re-investment is incorrect for the rest of the day, correcting itself on the day after.

What happens is that the amount of cash raised by the sale is added on to the old total ie the 'sold' share amount is not altered. So if you had 20,000 as the total (share market value + cash) and sold 10,000 worth of shares, the total available to invest becomes 30,000 (approximately) for the rest of the day.the following day it corrects itself to 20,000.

I've had the problem a while now and I keep reporting it and this is then passed on to their web site people and then .... nothing.

I would appreciate anyone who uses Barclays online to say if they have the same problem or it's OK for them.

Thanks in advance.

I haven't noticed any problem, but will look carefully the next time I trade with them.

7thFloor
You can format the way your accounts appear. In Account View, look for the 'personalise' button on the top right of the box. This will allow you to specify how you want the account details to appear.

Also i thing that if you have say 20,000 in cash showing and you tell them to transfer it to your bank and you then buy a share at a cost of 5,000 later in the day they will cancel the transfer untill settlement day.

Pondlife : The 'personalise' button doesn't affect the fault at all. The 'available to invest' is incorrect until the next day.

Also, have you noticed that when you buy stock the actual dealing page doesn't display cash available to invest, only your holdings value + cash. This is the only system I know that does it.

Nice little offer of 4.42 a trade (click on the box at the top of this page for details) probably only on offer until 23/06/10 when England are eliminated thought -):

Also June's one of the weakest month's for going long in general so less trading done on that theme, still better then a kick up the back side I say!

How's it going Smartinvestors? 😀

TTT?

At the moment it feels BA.

I agree Fred the changeover from Barclays Stockbrokers has been handled appallingly.

Used them since PEPs began around 30 years ago. Never any real issues. Also operated several accounts as "Authorised User". My own ISA is substantial and would attract maximum charge from Barclays, so moved to Hargreaves Lansdown - took a month or so July/Aug but got there without too much difficulty. "Authorised User" accounts no longer available at Barclays, so moving those as well (total balances comfortably into seven figures) but only one of four has so far appeared at HL., despite process beginning in July. Telephone call reinforced my view that they cannot really cope at present. Not sure what will happen to staff at Glasgow, but doubt they will currently be very motivated to sort out the mess. Very frustrating not being able to deal online and formal letter of complaint sent to Jes Staley - don't suppose anything will happen as result, but made me feel better. Cannot understand the logic of driving away the higher value accounts.

I managed 5 family member accounts with Barclays without problems for 20 years.

The current change with my ineptitude and losing an encrypted file as well as the change of "authorisation" is a pain in the backside.

The service teams are always very polite and helpful, but they must be knackered.


I think the problem is Barclays trying to drum up trade for the "Personal" banking as well as changing their "hub".

But I am just getting old and grumpy.

Some coverage in the IC about the incompetent changeover with two articles on the subject, one giving alternative brokers.

How's it going with your account migration chaps?

About two months in and two accounts transferred entirely (cash and shares). One other has shares across to HL but no cash and two still waiting for both shares and cash. Good job I am not a trader! Acknowledgement of my letter of complaint to CEO received today, with promise of response within four weeks - they spelt my name incorrectly, which does not augur well.

Partridge,

Was congratulating myself on getting the accounts sorted out.

Amended one over telephone and now can't get into 2 accounts.

It is a pain, thankfully at the present time don't want to change any holdings.

Fred,
I did leave one small Marketmaster account with Barclays (for old times sake, sentimentalist that I am) and have managed one deal on that through the new website without any real difficulty. It is, however, not as user friendly for us old gits as the previous one. Think their main issue at present is how to cope with all those who want to leave - and so far they appear to be not doing very well. How soon before compensation claims start?

Agreed.

I preferred the old platform.

The problem I think is changing two things at a time rather than setting up "Trading or investment account" by itself and "introducing" said banking account.

The platform (for me) does not make the different accounts clear and also it was easier viewing all accounts in one window and move from one to another.

Well 2 & I/2 of my 3 A/Cs seems to have settled down now thank goodness.

I decided just before Barclays said they were going to set up smart investor to transfer my Sipp trustees from Suffolk life to A G Bell whilst keeping Barclays Stockbrokers as my trading platform as it was so good. After nearly 15 weeks just this morning I finally have my one holding in it but no cash, been assured that the cash should be credited to the A/C within two days.

As for the trading platform I agree with you Fred the BS one was better, gradually getting used to this one now though so looking forward to some stability.

.

Only thing good is that your account is credited with a sale immediately. On the other hand, there is no T+ . The old platform was much better for trading. I don't like filling out a virtual questionnaire each time I trade.