A customer was surprised to see a feature had been removed from their account
Barclays has issued an update on its cash limit policies after a customer shared their confusion when they realised a £200 feature was axed from their account. Voicing their frustration to the bank over X, the customer said: "Barclays are removing my £200 overdraft because I’ve not used it for 90 days and I would get it today if I asked for it.
The advice states: "If you want to make a payment that would take you over your arranged overdraft limit, we can refuse to make the payment." Responding to the customer's concerns, Barclays expressed: "As a responsible lender, we constantly review accounts and take into consideration any other lending people may have. As you've mentioned, if an overdraft isn't being used, we'll remove due to it no longer being needed.
An arranged overdraft is when a customer and the bank agree on an overdraft limit, allowing the customer to borrow money up to this amount with daily interest accruing on the overdraft balance. There might be an interest-free portion within this agreed limit. Amounts over this limit won't incur interest but this may affect your credit score negatively.
Barclays does offer some flexibility; if customers go into an overdraft by £15 or less, they are not charged interest. Clients who wish to reduce their arranged overdraft can adjust it to a lower amount consistent with or below their current overdraft balance.
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