I just found out how Barclays made unethical money! We are a small business owner, and we have two accounts, one is called Current Account, and the other is Deposit Account. Current Account is for all the daily activities, like payments and receipts, while Deposit Account is for your cash to earn some interest (like there is any nowadays). Our business is going through refurbishments, so we are replenish the accounts by transferring funds from other overseas account. We made sure we had enough funds there, but later, we realized there were still declined payments, and the bank charged us 35 pounds for each declined payments! There were total 9 such charges in September alone, so total 315 pounds in one month! Later we understood, there was an auto-transfer put in place between the two account, so at the end of each day, the bank auto-transferred all the surplus funds in the Current Account to the Deposit Account, no wonder the next day when the company had outgoing payments, it was declined! After I found out this mechanics, I immediately told the relationship manager to cancel this auto-transfer (we were told, we were charged monthly fee for this auto-transfer service!). I was very angry as I told him this is a trap for Barclays to bounce payments, and make unethical money. Again, our relationship manager offered me 100 pounds of "good will gesture" and told me although he does not want to sound "dismissive", he thinks nothing positive will come out of this! Unbelievable employee. He told me his is a director of this bank (what a shame), and I am not, so I am not in a position to talk to him.
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