A Disgrace { Barclays Bank }

[Red Lead Ted]

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Barclays Customers Lose Access To Post Office Cash Withdrawals
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Barclays Bank is no longer going to let its customers withdraw cash from U.K. post offices beginning in January, and the decision has drawn the ire from Post Office officials as well as supporters of rural communities and elderly customers, who are generally more reliant on cash.
The Financial Times is reporting that the Post Office lets 28 banks offer banking services, like withdrawals, deposits and balance checks. The public service also oversaw 130 million banking transactions.
Beginning Jan. 8, Barclays customers are only going to be able to deposit money, and they’ll no longer be able to take any cash out.
At the heart of the issue is the fact that in many rural communities, there aren’t a lot of bank branches, and the Post Office is a lifeline to many customers who rely on cash to do their day-to-day business.
Barclays said it wants to end customer reliance on the post offices, and it has invested in cash machines that don’t cost anything to use, or cashback offerings at businesses when people pay with a card.
Barclays said that a new cashback scheme would help customers in remote areas. The bank also promised it wouldn’t close branches in places where it was the “last bank in the town” until near the end of 2021.
The bank said it would install “pop-up banking pods” in those places that would allow for “face to face financial support and education.”
The Post Office said it was “disappointed that Barclays had chosen to stop allowing their customers to make cash withdrawals.”
“For people living in more rural or urban deprived areas Post Office branches are a real lifeline, ensuring the financial inclusion of more vulnerable customers by providing vital services such as cash withdrawals, bill payments and postal services all under one roof,” the Post Office said. An old guy on BBC Radio Merseyside yesterday quite rightly pointed out him and his wife 45 year customer of Barclays, I will have a 20 minute drive to my nearest branch parking fees to pay, To get access to his own money yet he can deposit money into his Barclays bank at his local post office a 5 minute walk, Barclays make money out of every customer one way or another, Named and Shamed Disgraceful. Terry

[Des Taff Jenkins]

Hi Ted.
So far the banks haven't done that out here, but I think only because they have just had a Royal commission into their operations, which found among other things that they where taking money from peoples accounts who had died; and they knew it. also putting people into dept and then taking what they owned. The amount of interest here is now down to three quarter of a percent ,and the reserve bank has said they might send it down to nil, it wont be long before we are paying them to look after what little cash we have. I am on my toes ready to take it out, as once it starts, the run on the banks wont stop. The poorer off are being stripped of their assets by the rich, for what reason I don't know.
Des

[Keith at Tregenna]

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Barclays Customers Lose Access To Post Office Cash Withdrawals
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Should keep the cashless society from happening for a bit longer ?

K.

[happy daze john in oz]

In our paper today, the banks here in Oz collectively have over the last three years closed some 200 branches and about 700 ATM.
With our population of about 25.5 mil that may not sound many.

But as the country is taking up a cashless society faster than any other country there is little wonder.
The younger generation up to 35, and some of the older ones even at 70 plus ae embracing the debit card.
If you want cash that is easy, when you shop using your card you can get cash out.
Businesses like that as it means less cash for them to handle.
It is estimated that by 2030 cash will be gone here, card only.

As for interest rates, our Central Reserve Bank has it down to 0.75% but listening to the head of the bank makes me wonder just where they get their financial experience from?
I do not consider him to be the sharpest knife in the box as he disregards any advice from other financial bodies, many of whom are sanctioning against any further cuts.

[Red Lead Ted]

If Barclays don't reverse this decision, There will be a hell of a lot of people here in the U.K Running to there branches and switching bank accounts, Some people think they owe there bank something because they have been with them most of there lives, Its exactly the opposite its the customer who keeps them afloat, Not the other way around. Terry.

[happy daze john in oz]

The bank, no matter which one, is just a business.
Good businesses look after their customers, but in the case of the banks there is a change in the demands of the population.
Older ones are on the way out and for the younger ones, if it is not plastic they will not use it.

Somewhere there has to be a happy medium, maybe some one will realize that before it is too late.

An interesting fact on the net today, only 8% of the worlds money is held in cash and globally the debt of the world is greater than its assets.

[Keith at Tregenna]

I have not seen a Barclays Bank this way in ages.

We have ample of the rest so no problem. (Here that is)

K.

[Des Taff Jenkins]

Hi Victoria.
When I emigrated to NZ in 57 my brother who jumped ship there in 47 told me to take out an insurance policy so that when I got married i could get a loan for a house, I did this and the bloke who sold us the policy said after twelve months paying in you can cancel and get all your money back. Well I got married but we got a 3% loan off the Govt, My wife said the insurance policy is draining money and we decided to cancel, they said we could claim nothing, so the wife went to the head office and told them if it wasn't paid AS Promised by your agent she would contact the Govt Commissioners, they payed up. But there is a twist, the bloke who sold us the policy was jailed for 18 months for fraud, he had been somehow pocketing the money and not only ours.
Des

[happy daze john in oz]

Never had a whole of life insurance, no good to you when you fall off the perch someone else gets it.

But over the years have had a number of Annuities which pay out after a set number of years.
One a 20 year paid my house off and the other taken out over 45 years ago at the request of my mother paid out 17 times what I had paid in.

Much better than any life insurance.

[dave moore]

My dad once explained how banks operate,you go to them and ask if you can save money with them they give you say 1% a few years later you visit them and ask for a loan they charge you 10% these are just figures for example .They just cannot fail can they!!!!