A warning has been issued to all Barclays customers who have “never” been overdrawn or exceeded overdraft limits. The high street banking giant has been slammed for reducing overdraft limits in a brutal blow for customers nationwide.
A Twitter/X user fumed: “@BarclaysUKHelp despite never exceeding our overdraft limit, never being persistently overdrawn, today you significantly reduce our overdraft limit. In what is possibly the most stressful financial month. Oh and sending a text out after your lines have closed? Cynical move.”
“Hi, thanks for reaching out, I’m really sorry to hear a decision has been made to reduce your overdraft,” Barclays replied. “We complete annual overdraft limit reviews, which looks at customer’s current overdraft limit, the purpose is to make sure that the limit is still appropriate.
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“You should also receive a letter to advise of the outcome of the review, but we do sometimes send a text message to let customers know in advance. Could you please pop into DM and let me know if the message advise when the overdraft limit will be reduced?”
It said: “Does it also advise what you can do if you feel that the information we hold is incorrect? Normally you can view letters in the Statement and document section of the app and online banking, they’ll show within 2 working days of being issued.”
“I can’t apologise enough for the stress that’s been caused off the back of this, It’s absolutely not what we’d want. In case you’re not aware of the support we have available please follow the link here,” it went on to add.
“Are you currently struggling financially? As I want to make sure you’re fully supported, and we can look at getting you some required help. Just pop into DM with your full name, postcode and contact number?”