Barclay’s £175 Switch Offer July 2024

WillPS

bmbm365 said:

WillPS said:

bmbm365 said:

i used to bank with barclays, switched out. Now i cant open a bank account with them! theyve debanked me and dont provide a reason. The app just comes to a standstill, asks me to get in touch. I get in touch, book an appointment. They ask the same questions as the app, then tell me sorry we cant open an account with you and have no reason, sorry! What the hell is on my file that is blocking me getting an account, i cant see anything wrong on my credit reports, and i have numerous current accounts with no issues! I just need to know why they refuse me! They must have something that isnt right and I will never know

This isn't what 'being debanked' is. You ditched them, not the other way around.

Nobody is entitled to have their application accepted.

Well if they said application rejected because i had an account with them previously that fair enough. But in actual fact the branch staff said having had a bank account before and leaving isnt an issue. They just cant open me a new account and cant give me a reason. They cant even open a standard savings account for me, or ISA or anything. Ive basically been blacklisted from all Barclays products. 

Branch staff don't know the ins and outs of why a decision is made - such details are closely held trade secrets and the only people who know are subject to NDA.

Barclays are not alone in tending-to-reject those who previously held accounts but CASS'ed away, either. Chase, Starling and Monzo behave similarly. I can certainly understand the business reasons why a lender might choose to do that, it's quite rational - account setup costs money, and they might take the view that returning customers are less likely to stick around.

As I said in my previous post, nobody is "entitled" to an account over and above those Barclays decide to do business with*. Give it a few years and you might find they're likely to accept again.

*leaving aside basic bank accounts, if elgible for one.

tiesto

GreenScepter said:

Not sure if this was mentioned already but there's a upto 4 day delay in the app until you can add new payees. So if you were planning on transferring the £800 in and out soon after opening the account, be advised the money may be stuck in the account for days. No idea if it's 4 regular days or 4 working days, I'm currently on regular day 4 and am still waiting.

I personally always test transfers to a new account with a small amount in and then back out to make sure everything is working fine, and I'm glad I did. If I had that much money stuck in an account due to a delay I had no prior knowledge about, I'd be screwed!

Yep, I also got caught out by this, and based on when I was able to finally add a payee I'd say it was 4 working days. Quite a frustrating feature, although presumably helps stops quite a lot of fraud. 

SickGroove

Just tried to do a small transfer of £1 from my new Barclays account into the new payee account I just set up back to my main bank account but got a RPS01 message pop up saying payment not gone through yet & to check again in 4 hours! Bizarre 

paulbarette

Can I just confirm- once opened, blue rewards added, switch processed, I can just transfer £800 in and withdraw it straight away? I don’t have to keep it in for a minimum time period?

WillPS

paulbarette said:

Can I just confirm- once opened, blue rewards added, switch processed, I can just transfer £800 in and withdraw it straight away? I don’t have to keep it in for a minimum time period?

No time window stated. In and out is fine.

paulbarette

WillPS said:

paulbarette said:

Can I just confirm- once opened, blue rewards added, switch processed, I can just transfer £800 in and withdraw it straight away? I don’t have to keep it in for a minimum time period?

No time window stated. In and out is fine.

And am I good to transfer that before the switch has happened? - initiated it today and will be completed in 7 days…

moneytorques

bmbm365 said:

moneytorques said:

averageguy11 said:

dealyboy said:

@moneytorques said:

Nasqueron said:

moneytorques said:

I've just been rejected an Account with Barclays they can only offer me a Basic one,  apparently my credit score isn't strong enough at 999 Experian. How bizarre.

Nobody sees that score except you, it had no part in the decision. If anything 999 can be because you have no credit history so no-one knows what risk you are

Why we're offering you this account

Based on your credit information, you're not eligible for our other current accounts right now. This could be for a number of reasons:

• Your credit history isn't strong enough?

• You've defaulted on a loan or credit card NO

• You've had a County Court Judgment in your name NO

• You've been declared bankrupt NO

• You're on a debt management plan NO

100% not the case, I've got loads of history not perfect but am well in my 20% of active credit usage etc no missed payments etc, mortgage up to date.

First time I've ever been rejected for a Current account so a little bamboozled.

I guess I'll never know.

If it's any consolation, I too have been declined  .

I too have an excellent report from MSE Credit Club / TransUnion and Equifax and no financial skeletons, this is is also the first time I've been rejected.

I too think this is a commercial decision, however I have been advised it's not my income being too low, but I have opened three accounts in the last four months.

You can appeal the decision which means you can book an appointment in branch whereupon they will 'resume' the application to get more information from a code. It may then be possible to provide more information, in my case the reason for opening several current accounts is for their regular savers. I have booked my appointment for Monday.

Likewise been declined ..first time…no issues with my credit record…basic account only which doesn’t qualify 🤨

Just visited the branch at 100 Fenchurch St, was told the computer says no and no appeals process, goodbye.

Yes terrible from Barclays. Ive not had these issues with any other bank

I nearly said to the clerk "but all I want is the £175 switch offer and then I'll be on my way"

Petriix

Wow, the app is hilariously bad. Good luck trying to copy and paste bank details in from another app. It closes whatever you were doing if you dare to look at anything else.

The 4 day thing (thanks for the heads up) is another terrible user experience, it's like they're trying to stop people actually using their accounts. 

WillPS

Petriix said:

Wow, the app is hilariously bad. Good luck trying to copy and paste bank details in from another app. It closes whatever you were doing if you dare to look at anything else.

You can adjust this behaviour - click 'More' then 'Settings' then 'App log-out time'.

WillPS

paulbarette said:

WillPS said:

paulbarette said:

Can I just confirm- once opened, blue rewards added, switch processed, I can just transfer £800 in and withdraw it straight away? I don’t have to keep it in for a minimum time period?

No time window stated. In and out is fine.

And am I good to transfer that before the switch has happened? - initiated it today and will be completed in 7 days…

The terms suggest (but don't explicitly state) that you should do it after. I wouldn't risk relying on a deposit before the switch completes, personally.