Donald Moffat receives £100 billion overdraft bill from Barclays!
When 38-year-old Donald Moffat logged onto his Barclays bank account yesterday morning expecting to see his account in the black he was astonished to say the least when he encountered a £100 billion deficit on his current account!
While the UK economy and savings rates may be under pressure the Scottish student was shocked when he realised he had apparently spent enough money to bail out the banking sector three times over!
It appears that a number of Barclays bank accounts have been hit with a technical glitch which has seen many of them pushed into the red with some serious figures coming to the fore. While the situation has already been fixed, a number of people would have had difficulty withdrawing money for a short space of time which could at this time of year have been very unfortunate.
While many people will find a tale of being £100 billion in debt quite funny it has highlighted the central place which the banking system holds in all of our lives. This is an industry which has cost the UK taxpayer hundreds of billions of pounds this year alone with strong suggestions are more funding will be required in 2009.
Share this..
Related stories
Hammerson cautious on the UK property market
Property giant Hammerson has today issued a statement in relation to the worldwide, as specifically the UK, property market with a suggestion that we are not yet "out of the woods". The company owns a raft of leading shopping malls and while the retail sector is on the whole still struggling, those companies which have come through the worst of the recession are now beginning to see the light....
Read MoreMajor shareholder buys more shares in National Express
National Express, the troubled UK transport company, has today confirmed that major shareholder the Cosmen family has increased its stake in the business after the investment of a further £5.8 million into National Express shares. This brings the family shareholding to 20% as we await confirmation of future refinancing plans from the group. It is known that the Cosmen family disagree with the...
Read MoreUK government in fight for Vauxhall survival
As we covered yesterday, General Motors is literally fighting for its life with the US government insisting upon a breakup of the international vehicle manufacturer. The situation has become very complicated over last few weeks amid signs that the German government, where 50% of GM Europe is based, has taken control of talks. While Lord Mandelson has claimed he is working with the German authoriti...
Read MoreLDV saved in last-minute deal
The saga of LDV, the UK van manufacture, looks like coming to a successful close with the announcement of a takeover deal by Malaysian vehicle importer Weststar. The move has been assisted by the UK government which has been forthcoming with a £5 million bridging loan to give the takeover the best chance of being successful. This brings to a halt the ongoing pressure being applied to the UK autho...
Read MoreUK energy sector sitting on client cash pile
A report by Moneysupermarket.com has confirmed that around 5 million UK gas customers are owed around £454 million in funds held on their account but as yet unused. This equates to an average of £89 per customer in the UK and while 20% have asked for excess funds to be repaid, this leaves a staggering £363 million unclaimed earning interest for UK gas supply companies. To balance the argumen...
Read More