I've seen the future of banking and it's not Barclays

[Deleted User]

I've been with Barclays for 30 years.
I'm a Premier Account Customer.
Recently I asked to open a Euro currency account so I could transfer the proceeds of a house sale in Europe back to the UK but not exchange into Sterling.
After a week of waiting for this to happen I opened an online account with Starling and got a Euro currency account all on the same day.
Is it any wonder the high street banks are haemorrhaging customers ?

[Deleted User]

Did you cancel your Barclays application?

Different banks have different account processing times

Terry_Towelling

I'm keeping my fingers crossed that we don't get another thread next week entitled 'Starling suspended my new Euro account!':)

flimdar

I'm feeling the same way - Barclays current account customer for 30 years, credit card customer for over 10 years...

They've shifted me on to the worst current and savings accounts (probably in hopes I pay them £7+ a month for the "privilege" of banking with them) AND recently rammed up the APR on my card from 9% to 30.9% (essentially been moved from a legacy CC to their "Forward" one).

Really thinking of switching banks but fear the horror stories of switching bills etc.

JuicyJesus

I'm not impressed with Barclays either, for a variety of reasons, but I'm a bit confused as to what you were waiting a week for. Did you put in an application, send a letter to the branch... what?

mab3000

flimdar wrote: »

I'm feeling the same way - Barclays current account customer for 30 years, credit card customer for over 10 years...

They've shifted me on to the worst current and savings accounts (probably in hopes I pay them £7+ a month for the "privilege" of banking with them) AND recently rammed up the APR on my card from 9% to 30.9% (essentially been moved from a legacy CC to their "Forward" one).

Really thinking of switching banks but fear the horror stories of switching bills etc.

Out of curiosity, what current and savings accounts have they shifted you on to? And what would you be paying £7+ per month for?

Bogof_Babe

I have some Instant Access savings with Barclays (money from an inheritance ten years ago) but nothing else to do with them. I received letters (duplicated, in separate envelopes) last week saying I need to either pay in or withdraw from these accounts or they will be closed in October.

Went to my local branch on Saturday to sort it out, and enquired whether there was anything better I could do with my £20K, but all their interest rates are rubbish, even their Cash ISA is less than 1%. The bank was almost empty which on a Saturday says to me that they are no longer attracting customers.

I withdrew a small amount to keep the accounts open, but am now looking for somewhere else to transfer my money. Compared with the other banks I deal with they are totally uncompetitive, and I don't think they will last long at this rate.

[Deleted User]

flimdar wrote: »

I'm feeling the same way - Barclays current account customer for 30 years, credit card customer for over 10 years...

They've shifted me on to the worst current and savings accounts (probably in hopes I pay them £7+ a month for the "privilege" of banking with them) AND recently rammed up the APR on my card from 9% to 30.9% (essentially been moved from a legacy CC to their "Forward" one).

Really thinking of switching banks but fear the horror stories of switching bills etc.

What horror stories are those?

The CASS has worked seamlessly for the multiple double-digit account switches I’ve made.

Terry_Towelling

Bogof_Babe wrote: »

I have some Instant Access savings with Barclays (money from an inheritance ten years ago) but nothing else to do with them. I received letters (duplicated, in separate envelopes) last week saying I need to either pay in or withdraw from these accounts or they will be closed in October.

Went to my local branch on Saturday to sort it out, and enquired whether there was anything better I could do with my £20K, but all their interest rates are rubbish, even their Cash ISA is less than 1%. The bank was almost empty which on a Saturday says to me that they are no longer attracting customers.

I withdrew a small amount to keep the accounts open, but am now looking for somewhere else to transfer my money. Compared with the other banks I deal with they are totally uncompetitive, and I don't think they will last long at this rate.

The obvious question is why have you persisted with such a rubbish savings account? You appear to be a seasoned MSE contributor, so you must have seen the myriad of savings possibilities that exist outside of Barclays (and most of the other High St banks for that matter).

Bogof_Babe

Terry_Towelling wrote: »

The obvious question is why have you persisted with such a rubbish savings account? You appear to be a seasoned MSE contributor, so you must have seen the myriad of savings possibilities that exist outside of Barclays (and most of the other High St banks for that matter).

I know, it's stupid really. I already have savings bonds with Nationwide (also my accrued Cash ISA), Halifax and Vanquis (it was quite a decent inheritance from my parents), and am wary about the £85K cap for the FSCS security. My current account is with NatWest and I have savings accounts there too.

Afraid I have just been letting it drift, knowing it is there if I decide to do something impulsive and need to get my hands on cash instantly. I don't religiously look for the best deal, as I feel life's too short to obsess about making money now I'm retired.

But I will add it to my "must do" list .

Terry_Towelling

The least you could do is stick it in a Marcus savings account (currently paying 1.5% inc bonus). Account opening is quick and easy - was with me anyway.

How about a notice account? There are a few paying 1.8% if you give them anywhere between 95 and 120 days warning.

Chop chop!