Barclays pay in cut off time

iamchrisli

I am not sure anyone here aware of any cut off time for paying in at a Barlcays branch.

What happened was I paid in 2K cash in the branch just before it closed. Then I went home, the balance showed as cleared on the online banking, I then transfer the money to my saving account.

The day after I received a letter from barclays that they are going to charge me £22 for using the reserve.

I then phoned the telephone banking, adviser told me that because I paid in after its cut off time, so it will count as next days' transaction.

I then complaint, Barclays replied that they will not wipe off the charge as I paid in after the cut off time, no matter I know it or not.

I aware of HSBC have 3.30 cut off time, but it is first time for me to know that Barclays also have such policy.

I went into the branch today, and found no sign mentioned about cut off time.

If I decide to pursue further, what grounds should I use for my case?

Thanks for any comments in advice

456789

If it showed as cleared and available for use - then imo its their problem not yours - write a formal complaint to barclays?

anna42hmr

hi

this link may explain why it happened, http://ask.barclays.co.uk/help/online_banking/cleared_funds

Cleared funds and cut-off times in Online Banking.

If you deposit cash at a branch after 3.30pm-4pm, the funds will appear on your statement and reflect in your balance the same day in Online Banking.
These funds, however, are NOT cleared funds and will not be available until the following working day. If the funds are transferred out of the account before then, you may incur charges to your account.

Innocent_Guy

anna42hmr wrote: »

hi

this link may explain why it happened, http://ask.barclays.co.uk/help/online_banking/cleared_funds

Cleared funds and cut-off times in Online Banking.

If you deposit cash at a branch after 3.30pm-4pm, the funds will appear on your statement and reflect in your balance the same day in Online Banking.
These funds, however, are NOT cleared funds and will not be available until the following working day. If the funds are transferred out of the account before then, you may incur charges to your account.

Maybe the staff should have advised him of this then?

iceicebaby

The staff may not have known he wanted to immediately transfer it though?

Its half 3 at all banks as far as I am aware?

anna42hmr

Innocent_Guy wrote: »

Maybe the staff should have advised him of this then?

true but thats the same as saying that everytime any money is paid in, that they should tell someone, ie how long for a cheque, bankers draft etc, plus how do they know that immediate access is wanted/needed, if the op asked would it be cleared immediatly and the staff said yes when it wasnt thats a different story

and from memory i am sure that barclays online site has "account balence" and "cleared balence" (or "available balence") so would have been a difference between the two

rb10

iceicebaby wrote: »

Its half 3 at all banks as far as I am aware?

No, at Halifax cash is available to use immediately, regardless of what time of day or day of the week it's paid in.

gfplux

I really have difficulty understanding how this can happen in today's age.
There has been so much publicity about how long cheques, transfers and cash paid into accounts takes to clear.
OK I Bank with NatWest and on their web banking transfers not available to use are highlighted.
Hopefully the OP will remember next time.

withnell

gfplux wrote: »

I really have difficulty understanding how this can happen in today's age.
There has been so much publicity about how long cheques, transfers and cash paid into accounts takes to clear.

Well I always thought cash and bank transfers in were cleared funds - after all, the only reason for the delay for cheques is that there is a time lag for funds to be paid. No such excuse with cash!

If its too late for cash to be credited the same day, then it would seem reasonable for the bank to post the withdrawal the following day also?

boo666

with barclays if you dont have the money in your account to transfer then it does not happen, so can not understand why they would give you a charge.
the only problem i have had with barclays is when i have paid both cash and cheques in at the same time and the cash does not show at once, so i pay them in a 2 different times, a pain for the person on the counter but needed if you need the cash for something else..