Barclays concerned about PR image - October 2000

An internal PR document admits that "The Group has become idle internally on value propositions and been too hooked on premium pricing and customer inertia". Barclays sought to subvert the Link cash machines network, and then closed 171 branches. The report blames the timing of announcements, not the underlying policies. Consumers, says the report, find Barclays *greedy", "uncaring" and "substandard".

The report commends a "guide to best practice in corporate confidentiality" which has succeeded in "stemming the leak of highly confidential information".

Barclays may have underpaid on Tessas - September 2000

Barclays Bank - a view from the Personal Finance Editor of the Financial Times - April 2000

He is closing his account with Barclays after 17 years, he says.

He does not blame Barclays for

• Closing rural branches if they are unprofitable - I agree
   
• Their proposals on executive pay - he says this is a matter for the shareholders. I disagree - shareholder approval is usually a formality, and running a domestic clearing bank is not the most demanding of executive roles - and even on that basis Barclays have made a major public relations hash of their branch closures in early 2000.
   
• ATM charges - while he wants to be sure that Barclays is not exploiting market dominance at his expense, the Cruickshank Report has addressed this, and he does not begrudge Barclays a decent return on their sunk costs. I agree up to a point - I still think Barclays joined Link in order to bust the arrangements which allowed customers to use any cash machine free, and I am pleased they have failed.

But he attacks Barclays' products:

• Barclaycard - offered to him at every opportunity - has an uncompetitive rate of interest. Our webmaster, though not a Barclays customer, keeps getting these offers too. You should be able to stop them using the Mail Preference Service.
   
• Barclayloan, also promoted heavily to unsuspecting customers, charges uncompetitive rates of interest
   
• "The high fees levied on customers foolish enough to buy certain Barclays-branded investment funds. (The 5% initial charge on the Barclays FTSE 100 index tracker fund is a glaring example. Similar trackers are available with no initial fee to those with the good sense to shop around.)"
   
• Generally poor rates on interest on current account credit balances
   
• Customer service that is adequate but unexceptional.

Barclays, he says, has never offered him a product of demonstrably good value. In this, he says it is similar to other high street banks. "All seem to offer their customers a scandalously mediocre package."

The banks may argue that they have a high cost base, but he is not terribly interested - he wants value.

NOTE: I am not part of Barclays Bank! You can find the phone number of their central complaints department here.

I will try to help with personal banking complaints. This is a fee based service.

I will also publicise proven bad cases which might help other visitors.