The Sunday Telegraph - Money & Business - - News and Comment - Laura Suter

Cus­tomers of what was for­merly Barclays Stock­bro­kers are hav­ing to wait more than a week for div­i­dends as a re­sult of a fur­ther glitch in the switchover to a new ser­vice called Smart In­vestor.

Share­hold­ers of di­vipay­ing gi­ants such as BP, Im­pe­rial Brands and British Amer­i­can To­bacco have waited up to 10 work­ing days to re­ceive their div­i­dend pay­ments. Barclays has con­firmed that some clients are still wait­ing for their pay­outs.

The bank­ing gi­ant has faced a tor­rent of in­vestor com­plaints af­ter it forced 200,000 Barclays Stock­bro­kers cus­tomers to move over to new Smart In­vestor ac­counts, with new tech­nol­ogy, log-ins and pass­words. The change went through at the end of Au­gust. Many com­plained they could not log in or had not been sent the ap­pro­pri­ate in­for­ma­tion.

Worst af­fected ap­peared to be those 100,000 cus­tomers who were ex­ist­ing cus­tomers of Barclays Stock­bro­kers but not cus­tomers of Barclays Bank.

This is be­cause the new Smart In­vestor plat­form is part of the group’s on­line bank­ing ser­vice. The lat­est glitch means that any have waited longer than we would like.

“In fu­ture the process of pay­ing div­i­dends on Smart In­vestor will be quicker than the pre­vi­ous process on Barclays Stock­bro­kers.”

Barclays did not re­spond to a ques­tion on what hap­pens to those clients who ask for div­i­dends to be au­to­mat­i­cally rein­vested.

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