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Barclays Rip-off
John_Snowling
Posts: 2 Newbie
I am hopping mad, I have just had a letter from Barclays to tell me that out of a 600 euro cheque issued in France that I have placed in my British Barclays Euro Account that over 43 euros has been ''gleaned from it'' with todays banking technology I find this outrageous, are they allowed to do this? Perhaps it would be best if we go back to dealing in cash just like the old days, is this the only answer, silly I know, but as I said I am hopping mad.
Snowey
Snowey
0
Comments
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with todays banking technology I find this outrageous
It's not todays technology though is it. It's a cheque. That's old tech. i.e. paper based.are they allowed to do this?
of course they are. Not all the charges will be theirs either. The paying bank will have some and possibly any intermediary banks used in the process of transferring funds between the banks.Perhaps it would be best if we go back to dealing in cash just like the old days
or use more modern methods.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
John_Snowling wrote: »I am hopping mad, I have just had a letter from Barclays to tell me that out of a 600 euro cheque issued in France that I have placed in my British Barclays Euro Account that over 43 euros has been ''gleaned from it'' with todays banking technology I find this outrageous, are they allowed to do this? Perhaps it would be best if we go back to dealing in cash just like the old days, is this the only answer, silly I know, but as I said I am hopping mad.
Snowey
http://ask.barclays.co.uk/help/travel_international/cheques_foreign
That is the question about paying in cheques in euros into a sterling account.
Did you think that they offered the service free of charge?
Was this the first occasion you had paid a euro cheque into your account?0 -
The point is taken about ''old cheques'' but do you know how much the transaction would have taken using the modern methods?
Calming down know, John
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The point is taken about ''old cheques'' but do you know how much the transaction would have taken using the modern methods?
About half the cost and a fraction of the time.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
John_Snowling wrote: »The point is taken about ''old cheques'' but do you know how much the transaction would have taken using the modern methods?
Calming down know, John
According to Barclays:
http://www.business.barclays.co.uk/BRC1/jsp/brccontrol?site=bbb&task=articlegroup&value=6537&target=_self... We will not charge you for processing payments received from EU Member States in Euros for €50,000 or less if they contain your IBAN and SWIFTBIC details..."Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 20100
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