Barclays Bank

so Malta and Cyprus are likely to be hit by the Barclays account closures
http://www.thisismoney.co.uk/money/savi … ounts.html

of course you may get round it if you have access to a family members address or a trusted friends address

who in their right mind is going to deposit or keep £100k in an account with them with next to sweet FA in interest being paid for the loan of YOUR money. Even more so now with a DPS cover of £85k being reduced to £75k with efffect from January 2016.. so not only do they want your money to get them out of a hole they dug for themselves but they want you to risk losing £15k - £25k of it if they go pop...

OMG

same story just different newspaper sources
Barclays 'lock vulnerable man out of his two bank accounts after inadvertently putting him in £200,000 debt' – and say they can't do anything until Monday
James Jeffery woke to discover two £100,000 transactions in his accounts
Says he contacted Barclays but staff unable to explain what had happened
One account sat at minus £99,995 and his savings were at minus £99,681
Claims that after informing the bank, both of his accounts were locked - prohibiting him from accessing any of his money

A young step-father who suffers from severe anxiety attacks says he has been plunged into £200,000 worth of debt by his bank.
James Jeffery claims he woke on Thursday morning to discover that both of his Barclays accounts had been decimated by two transactions, each for £100,000.
According to the 30-year-old, his general account had fallen to a balance of minus £99,995, while his savings had plummeted to £99,681 in the red.
Barclays have confirmed that they are currently investigating what happened, but it remains unclear what caused both of James' accounts to fall deep into the red.

However in Cyprus' case those who may be caught in this who reside here can easily open a Bank of Cyprus account in UK.... (a totally separate unit from the Bank of Cyprus bank located here) and its governed and legislated by UK.... so to a certain degree protected

a conversation held today re barclays and a malta addressed account holder

permission granted by the holder of the account (living in malta)

B 10:01:51
Simon, following a review of our Personal Banking business, a number of Personal customers who hold a UK bank account were identified as residing in countries that Barclays will no longer transact with.
Simon 10:02:09
does this include malta?
B 10:02:18
These customers will soon receive a letter informing them that work is now underway to close their customer records and their products.
B 10:03:09
Simon, please allow me two minutes while I look into your query.
Simon 10:03:21
ok thanks
B 10:04:03
You are welcome.
B  10:05:02
Thank you for your patience. I am still looking into this for you. Please allow me 2 minutes more.
Simon 10:05:21
ok no problem
B 10:07:09
Thank you for your patience.
B 10:08:58
Simon, As per the list of countries available, Malta is included.
B  10:09:28
This means that Barclays Accounts in Malta will be closed.
Simon10:10:19
you mean accounts in the uk owned by residents of malta yes?
B 10:10:56
That is correct.
Simon 10:11:11
ok thanks for your help

and here are 7 ex pats in Cyprus thoughts on it

http://www.thisismoney.co.uk/money/savi … ology.html

Barclays appear to know no shame

and theres more....

http://cyprus-mail.com/2015/07/22/expat … er-100000/

even more

http://www.independent.com.mt//articles … 6736139435

Could it be that Barclays have shot themselves in the foot and acting in a discriminatory manner

This seems to be an interesting snippet in regards to Barclays recent rejection of long standing customers
Barclays know that the regulations that the UK Government intends to enact in order to fulfil the EU Payments Account Directive (2014/92/EU) state in section 18:
Non-discrimination in the provision of payment accounts
A credit institution must not discriminate against consumers legally resident in the EU by reason of their nationality or place of residence or by reason of any other ground referred to in Article 21 of the Charter when those consumers apply for or access a payment account.
The conditions applicable to holding a payment account with basic features within the meaning of regulation 19 must not be discriminatory.See: https://www.gov.uk/government/...
and
https://www.gov.uk/government/...
The UK government regards a “current account” as being a “payment account with basic features” for the purpose of this legislation.
These regulations will come into force on 18th September 2016 and the UK government has already stated:
The government set the threshold for participation in the 2014 agreement on the basis of firms’ personal current account market share at the start of negotiations. Firms with a market share greater than 1 per cent of the market were invited to participate.
The nine banks who have agreed to offer basic bank accounts at present, in line with the 2014 agreement, are: Barclays, the Co-operative Bank, HSBC, Lloyds Banking Group (including Halifax and Bank of Scotland brands), National Australia Group (including Clydesdale and Yorkshire brands), Nationwide, RBS Group (including NatWest and Ulster Bank brands), Santander and TSB.
It is incredible therefore that the terms stated in Barclays letter contravene both of the anti-discrimination clauses of section 18 of the proposed banking regulations that Barclays has already agreed to implement
Also after September next year Barclays will have to allow customers in Cyprus, Malta and Greece to have current accounts and not put stupid restrictions such as a minimum balance of £100,000 (which is £25,000 higher than the financial compensation guaranteed amount in 2016).

further interesting snippet to maybe backup a discriminatory act...

please read this it may help  you

BARCLAYS Discriminatory Treatment of Ex-Pat Customers

Thousands of ex-pats in Cyprus (and Malta and shortly Greece) have just received letters from Barclays (Personal Banking) informing them that unless they keep a balance of £100,000 in their Barclays current account, that account will be closed solely because they do not reside in the UK, even though they are British (or at least EU) citizens residing in an EU country (Cyprus). The letter says:

As part of a global review of our business Barclays has taken the strategic decision to focus on a core set of 70 markets globally. We have therefore taken the difficult decision to, over time, close accounts for those clients who fall outside our new market strategy.
As a result of this decision, we are introducing a new minimum threshold for clients resident in Cyprus. With effect from 11 September 2015 you will be required to maintain £100,000 in your Barclays accounts.

If you do not take any action, we will close your account[s] on or shortly after 11 September 2015. We understand that you may be disappointed by this and we will aim to offer you as much assistance as possible during this transition period.

Barclays know that the regulations that the UK Government intends to enact in order to fulfil the EU Payments Account Directive (2014/92/EU) state in section 18:

Non-discrimination in the provision of payment accounts
A credit institution must not discriminate against consumers legally resident in the EU by reason of their nationality or place of residence or by reason of any other ground referred to in Article 21 of the Charter when those consumers apply for or access a payment account.
The conditions applicable to holding a payment account with basic features within the meaning of regulation 19 must not be discriminatory.
See: https://www.gov.uk/government/consultat … -directive
and
https://www.gov.uk/government/uploads/s … _DRAFT.pdf
The UK government regards a “current account” as being a “payment account with basic features” for the purpose of this legislation. These regulations will come into force on 18th September 2016 and the UK government has already stated:
The government set the threshold for participation in the 2014 agreement on the basis of firms’ personal current account market share at the start of negotiations. Firms with a market share greater than 1 per cent of the market were invited to participate. The nine banks who have agreed to offer basic bank accounts at present, in line with the 2014 agreement, are: Barclays, the Co-operative Bank, HSBC, Lloyds Banking Group (including Halifax and Bank of Scotland brands), National Australia Group (including Clydesdale and Yorkshire brands), Nationwide, RBS Group (including NatWest and Ulster Bank brands), Santander and TSB.

It is incredible therefore that the terms stated in Barclays letter contravene both of the anti-discrimination clauses of section 18 of the proposed banking regulations that Barclays has already agreed to implement.

Many of the recipients of the letter have held a current account with Barclays for decades, so there is no question of the “Due Diligence - Know Your Customer” banking regulations having a bearing on their decision.

Most deposits into most of these current account originate from within the UK. Almost all withdrawals from these current accounts originate from direct debits or standing orders that transfer money into accounts that are within the UK. Country of residence therefore has no bearing on the way this account is accessed and managed. Using the fact that the holders are non-UK resident as a reason to close the accounts is therefore discriminatory!

Most other transactions (i.e. ones that are not standing orders and direct debits) are done by internet banking, which has no dependence whatsoever on where in the world such transactions originate, so again this has no bearing on Barclays decision.

To put a condition of a minimum balance of £100,000 on keeping the current account open, which is not a condition for the majority of current accounts held with Barclays, is discriminatory (and could even be construed as blackmail for non-residents with individual accounts since this amount is £25,000 greater that the maximum covered by the Financial Services Compensation Scheme from 2016 onwards).

Is Barclays seriously telling these customers that they have to close their current accounts, then wait for a year to open a new one that Barclays is bound by law to accede to? This beggars belief! How does this fit with Barclays' new “financial strategy”? How in the meantime are people supposed to pay the direct debits and standing orders that they are committed to honouring? There are some Barclays customers who are non-UK-residents and whose pensions/salaries can only be paid into a UK bank account. How are they supposed to cope over the 1-year period?

Barclays' letter states that this closure of current accounts is part of a strategic decision by Barclays. Most people would find anyone making such strategy who did not take into consideration upcoming legislation against discrimination such as is evident in this decision and the fact that Barclays will start offering current accounts to non-residents a year later, incompetent at the very least, if not negligent in the utmost, especially as Barclays has signed up to accepting the proposed new legislation.

The letter says that Barclays understands that the customer may be disappointed by this. Most will categorically state that they are not disappointed, they are furious and astounded that Barclays is resorting to practices that are discriminatory and will shortly be (and probably already are) such as to lead to legal proceedings for discrimination!

The majority of the tens of thousands of previously loyal customers Barclays is trying to discard (for no valid reason, business or otherwise, that I can fathom) are probably retirees who have relatives, children and grandchildren back in the UK, most, if not all all of whom are almost certainly also loyal Barclays customers. Did the idiot who made the “strategic decision” take into account the loss of business that is likely to arise when they are advised to switch accounts to other banks in protest at Barclays' underhanded treatment of their relatives? What about those customers at the low end of Barclays' core markets, will they not too be worried by these developments?

What sort of idiotic strategy is so ill-conceived that it has discrimination as its cornerstone? What sort of idiotic strategy says “We, Barclays have supported current accounts for non-UK-residents for years. We will now cease support for one year, forcing all these accounts to close and earn us nothing but ill-will, charges of discrimination and bad publicity. After a year we will then support current accounts for non-UK-residents again.”?

I'd have thought the last thing that Barclays would want is a highly publicised discrimination scandal involving many thousands of customers coming so quickly on the heels of the Libor and PPI scandals! Does Barclays have a death wish? If I had shares in the company I'd be scrabbling to offload them. No wonder their share price is way down over 5 years compared to the FTSE 100.

I hope that before the deadline Barclays will come to their senses and realise the stupidity of this “strategic decision”. But I won't be holding my breath. As with the Libor scandal, Barclays has no idea of ethical treatment of its customers and believes itself to be above the law - but in the past it has always come back to haunt them.

The attached link contains links to Microsoft WORD and PDF files of specimen letters for you to send to Barclays if you have been targetted by them in this underhand way.


http://trips.elusien.co.uk/Barclays_Discrimination/

many thanks to elusien....