I have a chum of 47 years whose taxation affairs I have tended to all this time. He has a bank account at Barclays to handle receipts and payments arising from his business as an antiques dealer. His turnover is of the order of £500,000 p.a..
Last Wednesday, 1st March, he popped into Barclays to effect a payment of £16,500 to an American vendor but was told that the person who handles such payments would not be available until Thursday. This surprised my chum since he had other things to do besides popping in and out of Barclays. So he nonetheless decided to come back the following day. Oh no said Barclays we mean Thursday week. So my chum went down the road to Metro Bank and effected the payment on the spot. He returned to his desk and telephoned the American to say that his money was on its way. It’s already here, came the reply.
I think that what is happening is that Barclays are terrified of money-laundering legal problems. But rather than close my chum’s account they make it difficult for him until he gets the hint. This is bad manners and bad business. Barclays should be ashamed of themselves.