Barclay Card - NO more cash withdrawels

magicmaria

Received a letter from Barclay yesterday saying that I could no longer withdraw cash on my card (even though I have never done this) the letter went on to say that the reason was because of one of 4 reasons.

e.g
The recent activity on my account
They have reduced my Credit Limit


Anyway I phoned them up and said I have never abused my card and I was fuming. They said this was a standard letter and had been sent to all their customers and the No Cash policy was across the board they also said that this was going to happen to all the credit card companies over the next couple of months.?????????

Bisoy

If I was a Barclaycard customer and have received this standard letters sent to warn customers not to withdraw cash from your card then I would have applauded Barclays for the doing so.

Most of the time if not always cash withdrawal charges from CC are hidden in small print where majority of CC holders don't bother to read.

I would welcome this new developments from Barclays and hopefully would educate a lot of CC to use their card very carefully.

hibees1875_2

i received this letter a while ago... posted the news on my DFW thread. they also reduced my credit limit. not a bad thing all in all. however would have been nice to have the choice. they cited that they were trying to prevent excess debt from cash withdrawals. however, if you have a barclaycard, and get money from a barclays atm AND have a barclays account, why should you be charged a withdrawal fee anyway?! also, if they had purchase and cash interest rates at same level then this wouldnt be an issue. but for their own reasons they do not do this.

unless you're getting a special deal from them tjough i would suggest pay it off and ditch it. perhaps sign up to a new one offering amazon vouchers and 0% for example if you really want a credit card.

merry xmas all.

georgiasmum

I got the same letter and they reduced my limit. It seemed to coincide with my becoming debt free so I closed the account anyway. No bad thing about the cash withdrawals though (imo!)

James

PINs with Credit Cards (Recent Multiple Cases of Cards be Cloned and PINs being harvested in Garages) = Cash to Fraudsters.

Armed with a cloned card and PIN they can hit almost any ATM. The cloned card can even be blank as long as it has a magstrip.

Chip reading terminals at point of sale in the UK means that they can't use cloned cards (in theory) in these premises.

Cast your mind back a year or so, many card issuers reduced the total amount of cash that could be withdrawn at a cash machine from £500 per day to in some cases £250. They knew there was a problem.

With cards being cloned at ATMs and at Retail outlets and PINs being harvested by numerous means, it's easy to understand why Barclaycard are taking this stance. They could however blame it on rising debt (Martin highlighted this risk in his chip and pin posting), or blame it on an expensive way to get cash.

Methinks they're feeling the PINch.