Barclays stopping money withdrawals from Post Offices

fudgecat

When I lived a largely urban life, I very rarely needed cash. I now live in a rural village where eggs are bought from roadside honesty boxes, along with produce and items at car boot sales and informal auctions in fields, etc, I also attend a number of coffee mornings and village meetings that involve raffles, table sales, etc,
This way of life (far preferable to my previous working to live existence) would be impossible without cash. Much more organic, less polluting and social.

Flobberchops

DawnGuk wrote: »

I appreciate that this probably isn't going to have any impact on their decision, but at least I feel I'm doing something positive.

"Puerile" is the word I'd have used, to be honest.

Of all UK banks, Barclays have the highest number of branches still open.
https://www.telegraph.co.uk/personal-banking/current-accounts/want-bank-lots-branches-have/
In addition they provide 3600 ATMs across the country and are - apparently - looking into ways for their customers to get cashback from a wider range of retailers.

If you're not happy with the service you're receiving, feel free to take your business elsewhere. But Barclays are a private business and if you want to continue using their services - all the basics are complimentary, i.e. free at the point of use - they are obliged to turn a profit. Disappointment at losing a facility, I can understand, but it's the attitude of entitlement that floors me.

SnowTiger

Unsurprisingly, Barclays has changed its mind.

https://www.bbc.co.uk/news/business-50174372:

Barclays has reversed its decision to prevent customers withdrawing money from the Post Office network.

It prompted fury when it announced its debit card holders could deposit money but not withdraw cash from a post office counter from January.

Cancelling that plan, the bank said it recognised the network was "valued by many communities in the UK".

It had been the only one of 28 banks and building societies not to fully sign up to a Post Office agreement.

"Our decision provoked a great deal of public and private debate. We have listened very carefully to points that have been made to us by ministers in the government, by MPs, and by interested charities and consumer advocates," said Barclays chief executive Jes Staley.

"Ultimately we have been persuaded to rethink our proposals by the argument that our full participation in the Post Office Banking Framework is crucial at this point to the viability of the Post Office network."

Flobberchops

For now, yes. By all accounts the short term saving would have been very small and apparently the negative press outweighed it. Worth noting Barclays have only committed to this U-turn for the next three years.



I'd urge people not to celebrate this victory of the consumer over "The Man" too prematurely though. Barclays may have been the first bank to stick their head over the parapet, and caught a nice chunk of flak for their trouble, but a near cashless society is still coming. Changes to retail banking are inevitable and many of these changes will be unpopular among traditionalists.

danm

agree with the above. People should be careful what they wish for.


Retail banking is a business, not a public utility.


Many of the tabloid stories on these issues refer to the inconvinience casued to more elderly people in rural areas. I would sugggest (although have no evidence) that in the majority of cases the nearest ATM is closer that the nearest Hospital/Trauma unit - this would concern me more as i reach my older years.