Barclays personal reserve

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BASFORDLAD
BASFORDLAD Posts: 2,418 Forumite
in Budgeting & bank accounts
has any barclays customers had letters regarding this and what as the limit of your personal reserve?(mine was -£1000!)
For everthing else there's mastercard.
For clampers there's Barclaycard.
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  • lauren_1
    lauren_1 Posts: 2,067 Forumite
    I've been Money Tipped!
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    Mine was up to £700, i think its a croc of poo, just the charges with out the dent in your credit file yet they are proposing £22 for the first 5 working days then reappying them every 5 days after that, no monthly limit at all.

    Just sounds like a very very expensive overdraft to try and claw back what they have lost in paying back charges
  • Ms-Money-Penny
    Ms-Money-Penny Posts: 1,604 Forumite
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    Yes i had a letter today offering me £1000 going to opt out. Way too much available money in view of identity theft etc
  • Parm
    Parm Posts: 55 Forumite
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    I had the same letter this morning, find it a nuisance that they automatically opt customers in, with us then having to opt out. Surely that should be the other way around?

    Oh well, I'm gonna send off the form to opt out.
  • Fordian_2
    Fordian_2 Posts: 13 Forumite
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    Same here. I am fuming, I have a student account with no overdraft (my choice), very rarely go over it. If I hadn't paid attention to the letter, by 18th August I'd be paying £22 for going overdrawn by pittance. This could easily add up as you have only 5 working days to get account back into credit/overdraft limit before they whack another £22 charge on top. This is a ridiculous scheme and what riles me the most is they market the personal reserve as if they are doing you a favour "Your account. Now with a little extra breathing space"!

    Most people should have fee free £15 buffer on their Barclays account, which they neglect to tell you, unless you ask the right questions. I would have lost this if I didn't opt out. Where's the logic?
  • d.ylan
    d.ylan Posts: 88 Forumite
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    Also received this letter today, and opted out immediately.

    It is shocking that they are automatically opting people in to this scheme. From a marketing point of view, I thought the promotional material pitching the whole endeavour as a 'favour for the customer' were quite well crafted, even if I don't agree with the message. More than enough to convince the uninterested masses to let it ride no doubt.

    Currently trying to advise family who bank at Barclays to opt out, as I can't see it being to any of their advantage.
  • Chef1980uk
    Chef1980uk Posts: 226 Forumite
    First Post First Anniversary Combo Breaker
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    absolute scandal to charge what they are proposing, also will opt out.
  • heppy23
    heppy23 Posts: 478 Forumite
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    My Mum banks with barclays and got the letter. I had to explain to her as she got the wrong end of the stick. She's opting out.;)
  • littleowl
    littleowl Posts: 594 Forumite
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    I am furious. Barclays, in a high handed manner, has imposed a 'personal reserve' on my account. I haven't been asked whether I want it, but must inform them if I do not. In other words I have to opt out and not in.

    it is fairly obvious why Barclays is dong this I think. With the prospect of the bank charges fiasco coming home to roost Barclays is seeking another way to raise revenue.

    I have held an account with Barclays for over forty years and this might just be the one step too far which will persuade me to move away from this arrogant bank.
  • Chef1980uk
    Chef1980uk Posts: 226 Forumite
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    Littleowl, i know the feeling. I'm in two minds about switching banks. Barclays was set up for me by my dad in 1996 for my 16th birthday so have been with them since. What process is needed in order to switch banks? How painful can it be?
  • littleowl
    littleowl Posts: 594 Forumite
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    Chef1980uk wrote: »
    Littleowl, i know the feeling. I'm in two minds about switching banks. Barclays was set up for me by my dad in 1996 for my 16th birthday so have been with them since. What process is needed in order to switch banks? How painful can it be?

    As far as the 'Big Five' are concerned there doesn't seem to be much to choose between them. With recent news events concerning HBOS and others none of them seems very desirable.

    I also have an account with Nationwide and might consider switching and opening another account with them.

    I don't think that the switching is difficult but rather the decision on who to switch to!

    I have written to Barclays declining their generous offer!
This discussion has been closed.
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