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Removing funds from Barclays
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caveatvenditor
Posts: 85 Forumite
Is anyone else considering withdrawing their money from Barclays? I'm slightly worried by talk of share dealing suspension and 10Bn of debt !! 
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have you got more than £30k with them?0
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It was quite Amazing to see the ques outside Northern Rock a few weeks back !! & Now I have no Doubt many will also be doing the same at Barclays, unnecessisarily IMO....This does however Illustrate How fragile Confidence is at the Moment...!!!! And how Potentially severe the Slowdown will be next yr... Spring Most Analysts recon... As i said on another thread...For a lot..but by no means all...There are Rough times ahead for the u.k Economy !!0
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I dont believe they are awash with 'liquidity' if they have already been to the BoE twice for overnight loans.
First time they did they said it was due to a technicality. But they ve done it a second time which smells of rotten cabbage.
Ive got 11K with them and I will be moving it first thing Monday. 35K may be insured with the FSA but I sure am not going to risk being removed from my money for any length of time.0 -
fair enough, if it gives you peace of mind then go for it.:beer:0
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The reason that share dealing was suspended in Barclays was because the price of their shares was falling fast and the LSE in effect called "Time Out" on trading them so people could get themselves sorted out and decide what they wanted to do in a rational way.
Due to the way a lot of trades are executed automatically these days, if prices start to fall then things can get a little out of control due to 'stop losses' being hit for example (that is you tell your broker to sell if a share hits a certain price).
This doesn't mean that Barclays is about to go bust. It merely means that owners of the shares are prepared to sell for less today than they were yesterday because they think that they'll earn less money by owning them in the future.
Barclays won't be allowed to go bust.0 -
Why don't we all start queuing outsiide Barclays. I have no money with barclays but it would be a cool practical joke!!
could do Barclays on monday
Pru on tuesday...
Halifax on wednesday...
Think of all those smug city types with their 100k job sh$%£^ng themselves!!!"A goldfish left Lincoln logs in me sock drawer!"
"That's the story of JESUS."0 -
Apart from Barclays, Bradford & Bingley and Alliance & Leicester are said to be dodgy at the moment.
Trouble is, if all these moneylenders have to be bailed out by the 'government', where is the money going to come from? Taxpayers???0
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