Barclays Outage.

valleynick66 said:

Rothko said:

valleynick66 said:

Rothko said:

PragueAddick said:

Rob7Lee said:

cantersaddick said:

Rob7Lee said:

Problem is @Clem_Snide it could happen at any bank in reality. So you could leave Barclays for Natwest who have a similar problem in 6 months time.

An awful high percentage of people have one bank account and in reality are only able to fund, month to month, one account. So the option of having a spare loaded with some cash is dream world for many. Credit card may be the same, some simply won't be able to get one.

You need to be careful with the modern day online banks and who they use for clearing. Think both Monzo and Starling use NatWest so would have issues had it of been Natwest.

Some of Barclays responses on X etc are a joke, I left them many moons ago when I was transferred from The Woolwich and they royally messed everything up. Seems like their customer service hasn't improved

cantersaddick said:

Algarveaddick said:

On the multiple bank account thing. 50% of people are below average intelligence. Many people struggle to manage their finances with one account. Most of the people who contribute to this forum are fairly bright, and I bet many of them wouldn't dream of having six or seven accounts. 

I am not knocking it, Canters, it's brilliant that you play them at their own game and make some cash for yourselves, but not everyone has your ability, so you shouldn't be surprised that not everyone does what you do, mate. 

Yeah fair point. Hadn't considered that. 

To be clear. I have 4 accounts one for travel insurance which hasn't been touched since we opened it, one for international transactions which I'll top up a couple times a year max when needing to make a specific international transaction. One that my main income goes into and another that I got to get access to a better savings rate which I now use for irregular side hustle income. So only 2 that take any management. I also have a couple of different credit cards for points/cashback opportunities. So 7 different ways of paying for things through different banking groups but still minimal effort (at least it seems to me). 

You should bank with HSBC Premier - free travel insurance, free global money account (might still need something for savings). Their Elite credit card is good for airport lounges and reward points (think you still get 40k on opening if you spend a certain amount, used to get another 40,000 on anniversary).

I'm to a degree similar to you, whilst I have all the above with HSBC for convenience and do all day to day banking with them, I do still have access to two other banks from a current account perspective (3 if you include First Direct) as well as other credit cards and savings elsewhere.

Premier and elite sound like they carry fee's? I don't currently pay any!

The current account has no fees, nor does the global money account (but you need the premier current account I think to have it).

Credit card does have an annual fee, yes. Although with the welcome bonus and what I spend it was well worthwhile, last year flights to Cyprus and Lanzarote were all but free, plus I had around £300 Amazon vouchers.

Just paid £20 each for flights to Cyprus in April and Lanzarote were again free (apart from about £40 in taxes etc).

It does all depend on how much you spend of course,

You don’t need Premier for Global Money account, mate. I am on Advantage and I have it, and love it, as you might expect. It has marginally worse overall costs than Wise, but I find the convenience far outweighs the extra cost. I can transfer money from my HSBC current account to my Czech bank, in CZ crowns, and it is there next day, all I have paid is the slightly below mid-price FX rate. Compared to a few years ago, this is dreamland if you have moved abroad for any reason.

Whats more HSBC is currently the only big  bank that is relaxed about letting you keep your current account if you move to the EU. I only discovered that this week, and was smiling the whole day. Makes a whole load of things a lot easier for me. The worst one, aggressively closing the accounts of traitors after Brexit day, was …
Barclays. 😉

I’ve been with HSBC for over 30 years. In that time I’ve often had one or two other  UK accounts alongside them. Last year because of the interest rate game, I had accounts with 3 UK and 4 Czech retail bank accounts. Back down to just HSBC in the UK now (and 2 CZ).  There are days when I find them infuriating of course, their app is definitely below average, but overall I am happy with them.  

But it’s true it could happen to any big bank, commiserations to all of you caught up in this. 

The hassle the big banks cause there customers for no good reason, other then shitty tech is wonderful 

It is hellishly complex to migrate to new platforms from the legacy ones when there are so many customers and accounts involved. It is far from simple or cheap. It’s also complicated by the various mergers and acquisitions over the years which bring different systems under one roof. 

Most banks have / are redressing bit by bit but it takes time. 

We all forget too we enjoy free banking on most accounts in the main. 

My heart doesn’t bleed for the banks who massively subsidise cross product from say mortgages, they can swallow free retail banking with the money made elsewhere.

its a strategic choice not to invest in your core banking infrastructure 

My point is they do invest but it’s a massive undertaking and high risk to resolve all legacy technology issues. And much harder for the older / long established brands. 

Most of the time things work but ‘Money’ is so emotive when it goes wrong it’s much much worse. 

Rothko said:

valleynick66 said:

Rothko said:

valleynick66 said:

Rothko said:

PragueAddick said:

Rob7Lee said:

cantersaddick said:

Rob7Lee said:

Problem is @Clem_Snide it could happen at any bank in reality. So you could leave Barclays for Natwest who have a similar problem in 6 months time.

An awful high percentage of people have one bank account and in reality are only able to fund, month to month, one account. So the option of having a spare loaded with some cash is dream world for many. Credit card may be the same, some simply won't be able to get one.

You need to be careful with the modern day online banks and who they use for clearing. Think both Monzo and Starling use NatWest so would have issues had it of been Natwest.

Some of Barclays responses on X etc are a joke, I left them many moons ago when I was transferred from The Woolwich and they royally messed everything up. Seems like their customer service hasn't improved

cantersaddick said:

Algarveaddick said:

On the multiple bank account thing. 50% of people are below average intelligence. Many people struggle to manage their finances with one account. Most of the people who contribute to this forum are fairly bright, and I bet many of them wouldn't dream of having six or seven accounts. 

I am not knocking it, Canters, it's brilliant that you play them at their own game and make some cash for yourselves, but not everyone has your ability, so you shouldn't be surprised that not everyone does what you do, mate. 

Yeah fair point. Hadn't considered that. 

To be clear. I have 4 accounts one for travel insurance which hasn't been touched since we opened it, one for international transactions which I'll top up a couple times a year max when needing to make a specific international transaction. One that my main income goes into and another that I got to get access to a better savings rate which I now use for irregular side hustle income. So only 2 that take any management. I also have a couple of different credit cards for points/cashback opportunities. So 7 different ways of paying for things through different banking groups but still minimal effort (at least it seems to me). 

You should bank with HSBC Premier - free travel insurance, free global money account (might still need something for savings). Their Elite credit card is good for airport lounges and reward points (think you still get 40k on opening if you spend a certain amount, used to get another 40,000 on anniversary).

I'm to a degree similar to you, whilst I have all the above with HSBC for convenience and do all day to day banking with them, I do still have access to two other banks from a current account perspective (3 if you include First Direct) as well as other credit cards and savings elsewhere.

Premier and elite sound like they carry fee's? I don't currently pay any!

The current account has no fees, nor does the global money account (but you need the premier current account I think to have it).

Credit card does have an annual fee, yes. Although with the welcome bonus and what I spend it was well worthwhile, last year flights to Cyprus and Lanzarote were all but free, plus I had around £300 Amazon vouchers.

Just paid £20 each for flights to Cyprus in April and Lanzarote were again free (apart from about £40 in taxes etc).

It does all depend on how much you spend of course,

You don’t need Premier for Global Money account, mate. I am on Advantage and I have it, and love it, as you might expect. It has marginally worse overall costs than Wise, but I find the convenience far outweighs the extra cost. I can transfer money from my HSBC current account to my Czech bank, in CZ crowns, and it is there next day, all I have paid is the slightly below mid-price FX rate. Compared to a few years ago, this is dreamland if you have moved abroad for any reason.

Whats more HSBC is currently the only big  bank that is relaxed about letting you keep your current account if you move to the EU. I only discovered that this week, and was smiling the whole day. Makes a whole load of things a lot easier for me. The worst one, aggressively closing the accounts of traitors after Brexit day, was …
Barclays. 😉

I’ve been with HSBC for over 30 years. In that time I’ve often had one or two other  UK accounts alongside them. Last year because of the interest rate game, I had accounts with 3 UK and 4 Czech retail bank accounts. Back down to just HSBC in the UK now (and 2 CZ).  There are days when I find them infuriating of course, their app is definitely below average, but overall I am happy with them.  

But it’s true it could happen to any big bank, commiserations to all of you caught up in this. 

The hassle the big banks cause there customers for no good reason, other then shitty tech is wonderful 

It is hellishly complex to migrate to new platforms from the legacy ones when there are so many customers and accounts involved. It is far from simple or cheap. It’s also complicated by the various mergers and acquisitions over the years which bring different systems under one roof. 

Most banks have / are redressing bit by bit but it takes time. 

We all forget too we enjoy free banking on most accounts in the main. 

My heart doesn’t bleed for the banks who massively subsidise cross product from say mortgages, they can swallow free retail banking with the money made elsewhere.

its a strategic choice not to invest in your core banking infrastructure 

My point is they do invest but it’s a massive undertaking and high risk to resolve all legacy technology issues. And much harder for the older / long established brands. 

Most of the time things work but ‘Money’ is so emotive when it goes wrong it’s much much worse. 

They invest in knackered out green screen tech, bilecause the choice has been not to improve their tech for a range of reasons, and they are stuck as their new competitors are building up the numbers at a rate of knots 

PrincessFiona said:

Wheresmeticket said:

O-Randy-Hunt said:

I hope the same never happens at Coutts "with whom I bank".

Fixed for you.

Part of Nat West Group

PrincessFiona said:

shine166 said:

PrincessFiona said:

shine166 said:

Algarveaddick said:

On the multiple bank account thing. 50% of people are below average intelligence. Many people struggle to manage their finances with one account. Most of the people who contribute to this forum are fairly bright, and I bet many of them wouldn't dream of having six or seven accounts. 

I am not knocking it, Canters, it's brilliant that you play them at their own game and make some cash for yourselves, but not everyone has your ability, so you shouldn't be surprised that not everyone does what you do, mate. 

Personally I find it bizarre that this situation has happened and we are blaming customers for being too dumb to have multiple accounts, rather than than calling out the systems we have in place.

Kinda turned into victim blaming which i think is unfair on millions of people. 

I don't think it is victim blaming to suggest it is sensible to have a second means of payment - it is just common sense. If you lose, damage or have a card stolen, it takes at least a few days to get a new card. The impact is far more if you're overseas. Same could be said if you are a victim of cloning,

Stating 'common sense' is victim blaming. Do you have 2 cars incase one breaks down ?

You could have 10 cards if you like, if you can't access Internet banking as its crashed, you can't move it anyway (which is also what has happened).

Highly unlikely internet banking would be down across multiple banks though and you don't need internet banking to pay a bill by credit car - hence why the second payment card needs to be with a completely different banking group. For us it has proven worth doing on so many occasions, I honestly couldn't tell you how many times - many of which were when overseas

Rothko said:

I don’t get why people are so loyal to banks, the incumbents treat their customers like shit. 

Leroy Ambrose said:

Rothko said:

I don’t get why people are so loyal to banks, the incumbents treat their customers like shit. 

Nationwide have been good for me. Maybe because they're still a Building Society - but I don't get any hard sell, they've never tried to charge me for shit I don't want, and never any tech issues. 

Hal1x said:

shirty5 said:

swordfish said:

Your money's safe with the Woolwich

Which was taken over by Barclays 

Thanks for reminding me, Barclays were basatrds

cafcfan said:

I agree that a few banks stitched up the high street. But as high street branches are going the same way as the dodo, that is no longer so important.

However there is certainly competition in the UK banking industry.

Here's a recent list of banks authorised to accept deposits, both UK incorporated and foreign.
https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/authorisations/which-firms-does-the-pra-regulate/2024/list-of-banks/bank-list-2404.pdf

As you can see, it's a long list and the likes of Monzo and Starling have certainly shaken up the big players (I have accounts at both, Cater Allen and also Virgin Money (really Clydesdale Bank and now owned by Nationwide).  

In the past, there was certainly inertia among UK consumers - they opened an account with a bank and stayed there until they died. That situation started to change with the arrival of Metro Bank on the high street. It is certainly true that the big banks need a kicking.

Anyway, my advice for what it is worth is, of course, not to put all your eggs in one basket. Having multiple banks/credit cards is a good idea. In particular, if you are fortunate enough to have more than £85k with a financial institution you should consider having it in various institutions in different groups, so that you don't hit the limit for the FSCS compensation scheme just in case the business does a Northern Rock.  (Joint accounts get £85k protection per person.)

Edited to add: Just for the sake of clarity, the likes of Revolut are not banks but electronic money institutions. Any money with them is not covered by the FSCS scheme. (In Revolut's case they seem to use something called safeguarding which involves having funds in another third party institution.)

Jessie said:

I work for a bank here in my country. We don't charge anything for personal current accounts/debit accounts, credit accounts or online banking services like domestic money transfer. And this is the standard practice among all banks here. An outage like this one with Barclays would be simply unimaginable here (meaning it can't happen at all). The food bank answer to customers is... wow, I'm speechless. Your banks really got some nerve... They literally treat the customers like idiots... Or there's simply no competition in your banking industry? It beggars belief.

Jessie said:

I work for a bank here in my country. We don't charge anything for personal current accounts/debit accounts, credit accounts or online banking services like domestic money transfer. And this is the standard practice among all banks here. An outage like this one with Barclays would be simply unimaginable here (meaning it can't happen at all). The food bank answer to customers is... wow, I'm speechless. Your banks really got some nerve... They literally treat the customers like idiots... Or there's simply no competition in your banking industry? It beggars belief.

Athletico Charlton said:

Jessie said:

I work for a bank here in my country. We don't charge anything for personal current accounts/debit accounts, credit accounts or online banking services like domestic money transfer. And this is the standard practice among all banks here. An outage like this one with Barclays would be simply unimaginable here (meaning it can't happen at all). The food bank answer to customers is... wow, I'm speechless. Your banks really got some nerve... They literally treat the customers like idiots... Or there's simply no competition in your banking industry? It beggars belief.

The UK also does not typically charge, there are certain credit cards you can opt to pay for as they give you rewards for doing so but we have a free personal banking service in the main.

To say a banking outage cannot happen at all in China is an incredibly naive view. 

guinnessaddick said:

Just landed In Belfast and had hired a car on my Barclay card. That doesn’t seem to be working. 🤬