Barclays Warns Customers Over a £5,000 Limit—What You Need to Know

Barclays has issued notification of a new restriction that includes a cheque deposit limit of £5,000 through its digital banking app. Those who have already endured the bank's constant branch closures are the ones who have expressed anger over the change, saying it makes their overall understanding of banking more complicated.

Social Media Backlash Highlights Growing Discontent

The announcement followed a complaint shared on social media by a disgruntled customer. The individual posted an image of a closed Barclays branch in Liverpool, expressing frustration at having to travel to alternative branches in Birkenhead or Warrington to complete their banking tasks.

Barclays responded by pointing customers to its mobile app, which allows users to deposit cheques digitally. The bank clarified the rules surrounding cheque deposits via the app:

• Personal customers can deposit up to four cheques per week.
• Business customers are allowed up to 20 cheques weekly.
• Individual cheque deposits must not exceed £5,000.

Customers who cannot access the app are encouraged to use Post Office branches as an alternative, though cash deposit limits at these locations are stricter.

Barclays Cheque Deposit Restrictions

Those unable to use the Barclays app can deposit cheques and cash at Post Office locations. However, the following limits apply:

• £3,000 per transaction for cash deposits.
• £10,000 per year for total cash deposits.

While these alternatives address some immediate needs, critics argue they place undue strain on customers already inconvenienced by reduced access to in-branch banking.

A Step Forward or a Step Too Far?

Barclays, like the rest of the financial sector, has been moving towards digital banking solutions, but the strategy has attracted its fair share of criticism. Some say that older customers and those who are not comfortable with modern technology are being neglected.

Technological advances are rarely seen by the older generation, a gap often referred to as the 'digital divide' and it shows the gulf between technological progress and equal opportunities for all.

Have you faced any challenges with Barclays' new cheque deposit rules? Share your thoughts with us.