Barclay's taking away Premier Account and overdraft

jojopink

I have a premier account with Barclay's which comes with a £1000 overdraft interest free. I have now been told by them they are taking away this account as I do not earn over £100k so I will be charged for being in my overdraft .
I don't have the money to pay it up so will now struggle paying interest.
Does anyone know if there is anything I can do?
Any help would be appreciated.

paragon909

jojopink wrote: »

I have a premier account with Barclay's which comes with a £1000 overdraft interest free. I have now been told by them they are taking away this account as I do not earn over £100k so I will be charged for being in my overdraft .
I don't have the money to pay it up so will now struggle paying interest.
Does anyone know if there is anything I can do?
Any help would be appreciated.

Did you read all the terms and conditions when you opened the account. Or did you just fill the application in and click accept without reading, if you did you wouldn't be asking for advice.

Just saying, They can do what they like i guess, they can close accounts without even giving you a reason.

Why did you open an account if your not putting 100K into it or earn 100k??

Paul_1977

Barclays do not give you a premier account unless you are earning 75k unless its by mistake. So the OP must of earned that at one point?

I would pay it off with a credit card (from another bank), set up another current account with the same bank and switch. Leave Barclays.

To open a Premier Current Account, you’ll need:

An annual gross income paid into a Barclays current account of £75,000+
Or
Savings and investments of £100,000+ through Barclays


We'll review your eligibility for Premier Banking regularly. If you no longer meet the criteria, we'll contact you to explain your options. We reserve the right to move your money to a different Barclays account. We may also change the eligibility criteria for Premier Banking in future.

tomo21217

The income needed is £75k for the account.

I suppose the account is for customers on a high income so if you dont meet the criteria they would look to put you onto a standard account.

I would be thinking, I had had a good run of free overdraft and take it on the chin, or look at moving to a cheaper OD bank or maybe put it onto a 0% credit card and pay it off.

If you do meet the min income then talk to them as they will keep you on it.