Barclays chief executive apologises to couple
Barclays bank chief executive John Varley has today apologised personally to two Barclays bank customers who have been proven to have received inappropriate investment advice. John Day, 76, and his wife Maureen were advised by a Barclays bank representative to place more than three quarters of their investment capital into a "single risky investment fund". The couple lost tens of thousands of pounds over a couple of years and complained to Barclays bank without success.
However, as so many UK banking customers have done over the last few months, the couple then decided to take the complaint to a new level at which point Barclays bank finally gave in, 12 weeks after the initial complaint. This is becoming something of a common trait in the UK banking sector as recent complaint figures have shown that the vast majority of customers who were rejected by banks have had their complaints upheld by the Financial Ombudsman.
There are many who now believe that the move by Barclays bank, which saw the chief executive become involved, is a reflection of a changing attitude in this sector towards customer complaints. It comes just prior to a change in the system which will see banks obliged to publicise complaint figures in greater detail.
Share this..
Related stories
Russian investors stump up $200 million for Facebook stake
In a move which values social networking site Facebook at $10 billion it has been revealed that a Russian investment group by the name of Digital Sky has paid $200 million for a 2% stake in the operation. While there is no doubt that Facebook has been amongst the more successful of the various social networking websites, many believe the valuation of $10 billion is significantly below the figure t...
Read MoreMorrisons confirms strong Christmas trading
UK supermarket giant Morrisons has today confirmed strong trade over the festive period with like for like sales increasing by 6.5% in the six weeks to 3 January. This figure strips out the impact of new stores and is broadly in line with figures released by likes of Tesco and Sainsburys earlier this month. Even though Morrisons is on the verge of losing chief executive Marc Bolland to Marks & Spe...
Read MoreBoom in 100 per cent plus LTV mortgages predicted
Mortgage brokers are predicting a sharp increase in the number of mortgages with a loan to value (LTV) ratio of 100 per cent or more.According to research by Alliance & Leicester Mortgages, more than three quarters (78 per cent) of brokers are predicting a rise in 100 per cent plus LTV mortgages over the next two years. Jeremy Claridge, head of specialist mortgages at Alliance & Leicester, said: "...
Read MoreUK Tops European Corporate Investment League
Despite all of the doom and gloom surrounding the UK economy at this moment in time, it seems as though the UK is still the first port of call for many foreign investors looking to investment corporate funds. A Study by KPMG has shown that the position of the UK in the European market is growing in strength even though the UK has not always been seen as wholly comfortable with the EU state concep...
Read MoreBad spending habits and budgeting tips- travel
10/08/2015 In the UK, people travel on average over 6,500 miles per year. Rail journeys have more than doubled in the last 10 years, and the proportion or weekly spending on public transport in 2011 hit 14%, which is a massive chunk of our income. We all have bad spending habits. When it comes to travel, there may be a few traps that you have fallen into yourself, such as: