Barclays - Is this the final nail in the coffin?

#85
I really like Barclays, who operate under the name Woolwich. Suddenly when you find paperwork for a PPI claim, they say they can't identify the account. So off to the financial ombudsman and they say everything in triplicate before they'll consider the complaint.
 

Grownup_Rafbrat

LE
Book Reviewer
#86
I really like Barclays, who operate under the name Woolwich. Suddenly when you find paperwork for a PPI claim, they say they can't identify the account. So off to the financial ombudsman and they say everything in triplicate before they'll consider the complaint.
Barclays took over the Woolwich to grow its mortgage business. Now it's just a trading name. However records from Woolwich may not be stored in the same place as they were all in Bexleyheath.
Not your problem really. But for Barclayloan PPI the other half got a helpful and profitable answer very swiftly.
 
#87
As with most other retail banks, these represent a rapidly diminishing proportion of the payroll as things progressively move online.
Yep, British banks are culling backroom staff as quick as they can to boost their profits and enhance still further the already astronimical bonuses of the less than 1% of the elite at the top of the food chain.

Oh, and those pesky fines issued against various banks by the Americans ons others have to be paid for out of the salaried of those at the bottom of the banks' food chains.
 

Grownup_Rafbrat

LE
Book Reviewer
#88
Yep, British banks are culling backroom staff as quick as they can to boost their profits and enhance still further the already astronimical bonuses of the less than 1% of the elite at the top of the food chain.

Oh, and those pesky fines issued against various banks by the Americans ons others have to be paid for out of the salaried of those at the bottom of the banks' food chains.
Been the same since Big Bang. Short-termism rules. Sod the future (unless you can bundle it into a fund and market it to Sids).
 
#89
Woolwich may not be stored in the same place as they were all in Bexleyheath.
Hmmm that's now Gorn in a deal with Bexley council so Lord knows where the records are now, if not conveniently destroyed. The real problem here is that PPI is in effect a fraud which is criminal being treated as civil with burden of proof as per criminal. Good innit. I did have another PPI with Barclays no probs but things are are getting a bit sticky for the banks. If you have the evidence, and I have, they really have no comeback.
 

Grownup_Rafbrat

LE
Book Reviewer
#91
But you just know that, if they see a a profit stream and given the opportunity, they will pull a similar stroke along down the line.

Banks have never deserved light-touch regulation.
Mrs. Thatcher's windfall Tax hardly touched them. Yet she listened to them on removing all those Victorian restrictions which had prevented a banking crisis for over a hundred years. Prudence Brown and Numbskull Balls then listened some more and the taxpayer is still paying the price!
 

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