Petition updateStop charging these crippling overdraft feesApology requested from Barcays CEO Ashok Vaswani
Alex FlynnCharlbury, ENG, United Kingdom
24 Aug 2014
In paragraph 4 of his letter dated 23 April 2014 ( http://tinyurl.com/kj4d3cr), following my complaint about Barclays introduction of daily overdraft fees to my local MP/UK Prime Minister David Cameron, Barclays CEO Ashok Vaswani wrote: "we are proactively contacting all impacted customers to ensure they are fully aware of how the changes will affect them. The vast majority - approximately 70% - will have a neutral or positive impact. Importantly, our most vulnerable basic bank account customers are all better off. The 30% of customers who are worse off are regular or heavy users of overdrafts. For the typical customer who is worse off, the increase in the cost of borrowing per month is not significant; however for heavy users of overdrafts, the increase will be more." Not working in banking and being familiar with all the terminology, I imagined a "Basic Bank Account customer" to be another way of saying "Current Account Customer" (which will no doubt apply to many of the people who signed this petition). I have since learnt from http://www.moneysavingexpert.com/banking/basic-bank-accounts that in fact a Basic Bank Account is for someone with a low credit score who has been refused credit numerous times. Since I have never been turned down for credit in my life and in fact recently passed a credit check with another financial institution I now realise as a Barclays customer I have been insulted in writing to UK Prime Minister. Under the circumstances, I think it is only appropriate that Mr Ashtok Vaswani CEO apologises to me for his insinuations that I am a Basic Bank Account customer when I am not! As a customer he has made me feel worthless and devalued. I feel especially annoyed by this treatment from such a senior man at Barclays.
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