They should sue.......
Gee, I thought all that money was free.
I’d be at the local branch every day with my kids asking why it’s taking so long to fix their error.
By this time, I’d be begging for money at the bank from other customers.
The bank should have to pay them a lot.
What a mess. Meanwhile, the bank, Barclay acts as though this family does not even exist except as a possible account error that the bank is not ready to admit to.
The family is doing the right thing going full public with their predicament. Sometimes the court of public opinion can work in your favor when nothing else gets a reaction.
Many families are only one paycheck away from total financial collapse.
You mean you have/had 2.1 mil in the bank, had a problem.... and couldn’t get it resolved in 12 hours.
When you put money in a bank, remember, the money is no longer yours, it is theirs. You are simply and unsecured creditor. Banks also are highly political entities, who are busy keeping up with government regulations concerning the monitoring of your behavior
Your actual needs come further down on the list of their principal concerns.
An overdraft is a bank loan to cover a negative balance on one’s account... it has to be paid back...
Wow. This is amazing. Crazy!
Easter Monday is a national holiday there? Why don’t us Yanks have off Easter Monday?
Identity theft?
After a day or two was the time to seek legal counsel. The threat of a lawsuit usually gets complaints expedited.
This happened to a family member on a much lower scale (a couple grand). There was no record of a deposit in their computer, but the family member had a deposit receipt made by a teller. The bank wanted to take custody of that slip of paper, to which the response started with Hell and ended with No.
They graciously issued a “conditional deposit” to the account and eventually found their error.
I still get paper statements. It is not complete security, but it is a written record at a point in time.
In 1978, I’d been working overseas for almost two years and banking most of my paycheck for almost five years. Finally got back to San Francisco, went into the Crocker Bank branch and found out my bank account didn’t exist. All my life savings - gone - POOF! The bank teller was uncooperative. Got the branch manager and he literally said “You probably bounced a check.” He was totally useless and hostile.
I went to the library, got the names of all the state banking commissioners and the top bank executives and wrote them all a letter. I went into the bank a few days later and the manager was profusely apologetic, addressed me as “Mr.” and “Sir” and worked with the teller to fix the problem on the spot. They couldn’t even calculate the interest I was owed, so I ran the calls and showed them how wrong they were. They used my calcs and gave me the back interest.
Morals of the story. 1. Banks are always fouled up. 2. Go straight to the top and get the government regulators involved.
Even identity theft doesn’t make sense.
If a small family has a few thousand in the bank, the bank isn’t going to cover a huge million dollar overdraft.
Such an attempted overdraft would be rejected.
Overdraft protection is a loan.
The bank isn’t going to loan you a million pounds when you only have a couple thousand in your account, and have never had more than that.
I’d think this would be super-easy to fix. Open a new account somewhere else, and change your direct deposits and debits to that account while Barclays futz around and figure out their error.
They could but they won't. For the same reason a dog licks his b@ll$.
Their mistake, you’re screwed. Your mistake, you’re screwed. Gonna be fun when there is no more cash, and all money is electronic. Computer systems are NEVER designed with the ability to correct error. When there’s a “glitch,” no one knows what the (****) to do, and you’re screwed. You can’t prove you didn’t do something.
There is no such thing as a glitch. It’s human error blamed on the dumb computer.
The law should demand that banks give such cases the highest priority to resolve expeditiously, and each such case should be reviewed afterward by banking regulators, to determine if in fact the bank did all it could to resolve the matter quickly.
Just the way the progressives want it.
As long as they didn’t spend it, it should be easy to resolve.
Someone in the Barclay system likely has been shifting money into, then out of accounts. Perhaps a money laundering effort. Their manipulations resulted in an internal transaction error; and, likely they were caught-out by the overdrawn account as evidence of the scheme.
The account holders should raise hell loudly to gain public notice of the bank’s neglect in resolving the issue.