News : Barclays Stockbrokers Switch Draws Complaints
London, UK, Sept 4, 2017 -- Barclays Stockbrokers, a British investment shop, chose Bank Holiday Monday to migrate 200,000 customers to new accounts underpinned by new technology and requiring fresh log-ins and phone passwords.
Customers had been sent numerous letters and warnings, but some still encountered problems when they tried to log in to their new accounts.
One reader, calling in to Your Money, said he was being asked to "enter a memorable word" when he had never set one up.
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Others complained of waits of up to 40 minutes to get through to call centre staff for help after navigating a complex phone menu.
Particular difficulty seemed to arise with the customers who were existing customers of Barclays Stockbrokers but not customers of Barclays Bank. Because the new log-in is unified across all Barclays services, former customers of the broker arm were bewildered to encounter instructions such as "proceed to online banking", with tabs for credit cards and loans.
Commentators remarked that it was lucky for both Barclays and its clients that the week opened with calm markets and light trading.
Rupert Dickinson, head of direct investing at Barclays, said: "We are doing everything we can to support our customers. We apologise for any inconvenience caused during this period of adjustment."
Posted by Veronica Silva Cusi, news correspondent
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Barclays is a financial services group, with a significant international presence in Europe, the USA, Africa and Asia. It engages primarily in banking, investment banking, and investment management. It has been involved in banking for over 300 years; operates in more than 60 countries; and employs more than 110,000 permanent colleagues (including 32,500 at Absa).
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