Three strikes and you are out Barclays
UPDATE: A video where I compare banking between Barclays & Bitcoin
- Strike 1 - made my backup account dormant
- Strike 2 is when I was locked out my own account and money until I could travel to a UK branch from Singapore to verify my identity
- Strike 3 is requiring the information on how much I earn and how much tax I pay, i.e. a total contempt of my privacy
At first Barclays claimed it was to detect fraudsters and criminals. I guess being a life long customer is not good enough?
Then Barclays claimed it is a legal requirement set by the FCA.
I contacted the FCA asking about these requirements and they replied:
..we don’t have any rules which specify what information a firm must ask from their customers in relation to ‘knowing your customer’.
Furthermore FCA asked me to ask Barclays:
If Barclays can tell you exactly which rule or which regulations specify that they must ask you how much you earn then please let me know and I will look into this further for you.
And Barclays replied they can only tell me in private DM. I.e. they won't tell us straight.
FCA re-iterated that:
no specific rules which state that a firm must ask you how much you earn and this is usually a commercial decision on the firm themselves
Therefore Barclays initial claim it was for a legal requirement is also poppycock.