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MSE News: Barclays Premier Life or First Additions package account customer? Beware..

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MSE News: Barclays Premier Life or First Additions package account customer? Beware..

edited 6 November 2015 at 12:33PM in Budgeting & Bank Accounts
7 replies 1.7K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
PPR
edited 6 November 2015 at 12:33PM in Budgeting & Bank Accounts
Premier Life, Premier Life 25 and First Additions package account customers will be hit with price hikes from today...
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Barclays Premier Life or First Additions package account customer? Beware price hikes

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Replies

  • mse wrote:
    those who earn an annual gross (pre-tax) income of £75,000 or above

    How does Barclays know anyone's pre-tax income? Or the post-tax income, for that matter?
  • I would assume its based on what is paid into the account.

    If you get £75k or more paid in (or have 100k savings/investments), you go to the free premier.

    If you bye bye to the basic account.
  • colstencolsten
    12.2K posts
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    10000 Posts Fifth Anniversary Name Dropper
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    What's being paid into an account has little to do with pre-tax income. No bank will know how much tax an individual pays, or what their gross income is. They might be taking an educated guess but they have no sight of anyone's taxable income or tax code. Some people might feel they need to share this information with the banks but there is no requirement to do so.
  • Kim_13Kim_13
    1.9K posts
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    Intrepid Forum Explorer Newshound! I'm a Volunteer Board Guide
    Doesn't the way this is being done amount to misselling?
    Sealed Pot 11 #520 ~ /£100
    VSP 2018 #9 ~ £19.55/£180.00
    CCCC 2018 #1 ~ £20.75/£180.00
  • They must have to give 60 days notice.
  • Paul_1977 wrote: »
    They must have to give 60 days notice.

    Which they have not done
    “When the debate is lost, slander becomes the tool of the loser.” Socrates

    Haters gonna hate
  • Can anyone who is a customer and had this change made confirm this?

    Also check the terms, maybe they don't have to give notice?

    I would be surprised if the bank has defaulted on its own terms, given the scrutinity banks are under at this present time.
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