January 27th, 2012 | Banking |
Barclays telephone banking-is it a good system or not? Let’s look at the 2 most important variables:
#1) Customer service
This is obviously VERY important in telephone banking. How is the service?
Like practically all other banks today, Barclays outsources their call centers. Translated: you’d better cross your fingers and hope you get somebody who speaks good English.
However, their employees generally tend to be well screened… and for the most part tend are knowledgeable and speak English well. More often than not you will have a good experience-at least when speaking with someone.
The problem is getting to speak to somebody. It’s not uncommon to experience extraordinarily long wait times when calling during busy hours.
#2) Ease of use
Barclays telephone banking is relatively easy to understand, which is good because it means you should rarely have to speak to someone in the first place. You can perform almost any function over the phone that you could at a physical branch.
Be aware…
One complaint some have had is that occasionally scam artists will call you posing to be from the company… but they are really just after your bank account info. Generally speaking, if someone calls you asking for your info–even if they claim to be from Barclays–don’t give it to them.
Obviously this isn’t a slight against the company-it has nothing to do with them. It’s just something to be careful of.
So is it recommended?
Overall I would say yes. Assuming you don’t have to speak to a live person-and usually you won’t-Barclays telephone banking is a good system to use.
July 1st, 2010 | Banking |
The investment market is like the dating market; the ugly little duck can turn into a desirable prince(s) after someone has given it some attention. And what happens next, all of a sudden the former duck gets surrounded by a chain of new admirers. They all want her. Or him.
Currently on the scene is ABN AMRO. Not really small, nor exactly ugly but not “performing” according to the stock exchange standards (what ever they might be). And the bank found a buyer (Barclays) for its shares willing to pay around the 36 euros.
New admirers of the bank include a group of three European banks that are willing to offer 39 euros. “Why 39,” you may ask. Perhaps because 40 seems psychologically too much or simply that 39 divided by three is exactly 13.
The offer of this consortium (formed by the Spanish bank Santander, the Belgium bank Fortis and the Royal Bank of Scotland) will bring ABN to a demolition stage; each bank acquires a part of the whole. Santander receives the desired Italian branch – only recently acquired and Brazil, Fortis the Benelux part and RBS the American operation.
The question whether this split-up would be worse than the original offer from Barclays remains unanswered. Many believe so, I doubt it from a cultural point of view.
In fact the situation in which ABN stranded is one of incomplete acquisition. In the financial world it is to eat or get eaten and ABN ate only half its way. It left the company with a well established market in Europe but insignificant in nearly any other continent. For Santander it makes much more sense to acquire Brazil and an Italian part (something its rival – BBVA – could manage so far) and the acquisition of Fortis will make perfectly sense – although a larger cultural mismatch. And the oversees (US) activities of RBS seems neither illogical.
Cultural speaking the break up would make more sense, because each three banks would expand with similar cultures. Santander would provide a better fit for the Brazilian branch, although you could question whether this fits also the Italian case.
On the other hand, the consortium’ offer would also mean a bigger change, because the name ABN AMRO would cease to exist.