Barclays Premier Account downgrade

jennyj

I was sold a packaged account by a Personal Banker for travel and mobile phone insurance back in 2007, but cannot remember the exact details. However, when in branch at a later date was encouraged to upgrade the Additions package to a Premier Account which I did and have used the travel insurance, mobile phone insurance, extended warranty, card protection but never the overdraft facility even though it was there. Last week I received a letter to say the qualifying criterion for this account has been altered to either a salary of £75,000 or £100,000 in investments held with Barclays. I have been advised that they will remove the status on 23 April and changed the contact telephone number to a 0345 number, more details to follow in summer 2015, then a further two months to review so in autumn 2015 the account will change to a Barclays Bank Account. All existing benefits will then be linked to my account unless I request changes. I have called the number and stated that I am very unhappy with this situation, particularly as the travel insurance and airport angels alone will cost more than I pay for the whole package currently. I have held my account with Barclays since 1984 and this is very unwelcome. Furthermore my sister has the same benefits via an Additions Account but has recently received all her renewal documents with no indication these are changing, which is annoying as this package costs less but offers the same cover minus the Premier Account facility. Any comments please?

Wilt

Vote with your feet.

jennyj

Yes true, but as I have loads of DD's and other benefits and really don't know how good another bank account is, I have to be sure before leaving. Thanks

Archi_Bald

Switch to a different bank. Several of them will pay you for doing so. http://www.moneysavingexpert.com/news/banking/2015/02/theres-never-been-a-better-time-to-switch-bank-the-10-need-to-knows

If you want to buy similar insurance as you had with Barclays, I can recommend the Nationwide FlexPlus.

Archi_Bald

jennyj wrote: »

Yes true, but as I have loads of DD's and other benefits and really don't know how good another bank account is, I have to be sure before leaving. Thanks

All current accounts are essentially the same.

The 7-day switching process will take care of switching your DDs (and SOs and other payees). Very easy. Just don't ask for the switch before your new account is fully operational.