Barclays Opening Times.

[TwigtheWonderkid]

Was in Central London today, and had to pop to the bank. Went on my phone, nearest Barclays was opposite St Pancras station. Great, as I was just up the road at UCLH. Walked down there, shut. Open Tuesdays & Wednesdays only, 10am-2pm.

Barclays are looking after my money, so I'd quite like to know the financial sense of having a branch on a busy road in a very expensive area open 8 hours a week. Perhaps someone with more financial acumen than me can explain the reasoning.

[Simpo Two]

Probably somebody at Barclays with financial acumen will realise that and close it.

Both banks in my town are now closed; the Barclays one latterly had queues outside (probably due to limited opening hours) but they still closed it.

Anyway granddad, what do you need an actual bank for anyway? You do it on an app from the top of a bus these days innit...

[Nickbrapp]

Because banks don’t want to offer a in branch service, they just do because old people still exist, they make no money from it.

I do work for Barclays and find when I’m in the branches people are doing stupid stuff like ordering a new debit card or moving money from one account to another. Just do it online ffs!

[Vasco]

TwigtheWonderkid said:

Was in Central London today, and had to pop to the bank. Went on my phone, nearest Barclays was opposite St Pancras station. Great, as I was just up the road at UCLH. Walked down there, shut. Open Tuesdays & Wednesdays only, 10am-2pm.

Barclays are looking after my money, so I'd quite like to know the financial sense of having a branch on a busy road in a very expensive area open 8 hours a week. Perhaps someone with more financial acumen than me can explain the reasoning.

What did you really need a bank for?
They'll close that branch, and many others, because the only people using them aren't profitable - £50 paid in one week and £40 taken out the next is what ATMs are for. Most services are available on-line nowadays.

[The Leaper]

I occasionally get a cheque in US$ to be paid into my UK bank account. The ONLY way that this can be done, so I am always told, is by going to a branch of my bank which is miles away and b.....y inconvenient. When that and all branches are closed, how do I get future US$ cheques paid in? Recently I phoned the bank and asked this question, and they could not give me an answer!

Don't tell me to arrange everything by bank transfer...the US source will not agree to do this; I've tried several times.

R.

[leef44]

When I had to make a bank transfer for buying my new house I had to go to a branch to make the request, show ID and sign paperwork to make the transfer.

When my debit card was found to potentially have fraudulent activity on it, they cancelled the card and I had to go to the branch to answer a few questions, show ID and get a new card authorised.

When I wanted some change to pay for tips and small things like at a market stall (card transactions eat into quite a large % of margin when you are a small stall) then I have to make a withdrawal at my branch before I can go to the cash counter to change that to coins.

So until they can make these things all on line without having to visit a branch then it is quite useful to still have a branch for customer facing solution.

[Nickbrapp]

leef44 said:

When I had to make a bank transfer for buying my new house I had to go to a branch to make the request, show ID and sign paperwork to make the transfer.

When my debit card was found to potentially have fraudulent activity on it, they cancelled the card and I had to go to the branch to answer a few questions, show ID and get a new card authorised.

When I wanted some change to pay for tips and small things like at a market stall (card transactions eat into quite a large % of margin when you are a small stall) then I have to make a withdrawal at my branch before I can go to the cash counter to change that to coins.

So until they can make these things all on line without having to visit a branch then it is quite useful to still have a branch for customer facing solution.

I bet plenty of other banks out there let you do that without ever going near a branch, first direct, monzo, starling etc. it made me laugh that people still have to go to a TSB branch to sort out their apps.

[Mazinbrum]

That’s ridiculous, that branch should be closed as obviously no need for it in the 21st century.

[craigjm]

Mazinbrum said:

That’s ridiculous, that branch should be closed as obviously no need for it in the 21st century.

And it probably will be but it’s probably on a long lease where the penalty clauses are more costly than keeping it open minimal time, staffed with people from another branch until it can be waved off without such cost.

[MrBen986]

If you are looking for a business on Google Maps, there's an 'Open Now' function, so you will only get shown the branches currently open, and save visiting the ones only open on the ninth Thursday of a leap year, between 3:12 and 3:14 am.

To respond to the actual question, presumably Barclays know that the branch isn't profitable if staffed all the time, but decided there was a case to open it eight hours a week, and employ the staff in other locations the rest of the time. Thus that location gets some level of branch service. Seems a sensible solution to me, and would be good for those who still need branches, if that could be adopted elsewhere.

[Vasco]

MrBen986 said:

If you are looking for a business on Google Maps, there's an 'Open Now' function, so you will only get shown the branches currently open, and save visiting the ones only open on the ninth Thursday of a leap year, between 3:12 and 3:14 am.

To respond to the actual question, presumably Barclays know that the branch isn't profitable if staffed all the time, but decided there was a case to open it eight hours a week, and employ the staff in other locations the rest of the time. Thus that location gets some level of branch service. Seems a sensible solution to me, and would be good for those who still need branches, if that could be adopted elsewhere.

Yes, quite a few banks seem to now open branches on just 1-2 days a week and staff can then rotate around 2-3 other small branches.
Probably part related to some current difficulties with the future role, lease or whatever.
Inevitably, the branch will close asap.

[TwigtheWonderkid]

Nickbrapp said:

Because banks don’t want to offer a in branch service, they just do because old people still exist, they make no money from it.

So shut it then. But it's still open, 8 hrs a week!

[TwigtheWonderkid]

Vasco said:

What did you really need a bank for?

I couldn't resolve my issue online, and when I phoned them they told me I'd have to go into a branch!

[TwigtheWonderkid]

craigjm said:

Mazinbrum said:

That’s ridiculous, that branch should be closed as obviously no need for it in the 21st century.

And it probably will be but it’s probably on a long lease where the penalty clauses are more costly than keeping it open minimal time, staffed with people from another branch until it can be waved off without such cost.

Aaaah....an actual answer that makes financial sense.

[Mr Penguin]

The Leaper said:

I occasionally get a cheque in US$ to be paid into my UK bank account. The ONLY way that this can be done, so I am always told, is by going to a branch of my bank which is miles away and b.....y inconvenient. When that and all branches are closed, how do I get future US$ cheques paid in? Recently I phoned the bank and asked this question, and they could not give me an answer!

Don't tell me to arrange everything by bank transfer...the US source will not agree to do this; I've tried several times.

R.

Are you able to do it at a post office? They can take cheques and post them to the bank to process as though you were at a branch.

[Vasco]

Mr Penguin said:

The Leaper said:

I occasionally get a cheque in US$ to be paid into my UK bank account. The ONLY way that this can be done, so I am always told, is by going to a branch of my bank which is miles away and b.....y inconvenient. When that and all branches are closed, how do I get future US$ cheques paid in? Recently I phoned the bank and asked this question, and they could not give me an answer!

Don't tell me to arrange everything by bank transfer...the US source will not agree to do this; I've tried several times.

R.

Are you able to do it at a post office? They can take cheques and post them to the bank to process as though you were at a branch.

In very general terms, the Post Office can do many of the transactions still required by some on this thread. The problem tends to be that there aren't so many POs these days, and the delay to actually get served can be lengthy.

[Easternlight]

Nickbrapp said:

Because banks don’t want to offer a in branch service, they just do because old people still exist, they make no money from it.

I do work for Barclays and find when I’m in the branches people are doing stupid stuff like ordering a new debit card or moving money from one account to another. Just do it online ffs!

You do realise that there are people who aren't online ffs!!

[The Leaper]

Mr Penguin said:

The Leaper said:

I occasionally get a cheque in US$ to be paid into my UK bank account. The ONLY way that this can be done, so I am always told, is by going to a branch of my bank which is miles away and b.....y inconvenient. When that and all branches are closed, how do I get future US$ cheques paid in? Recently I phoned the bank and asked this question, and they could not give me an answer!

Don't tell me to arrange everything by bank transfer...the US source will not agree to do this; I've tried several times.

R.

Are you able to do it at a post office? They can take cheques and post them to the bank to process as though you were at a branch.

Thanks Mr. P.

I have used the Post Office cheque paying in service many times for regular UK cheques. However, I've not thought about whether the Post Office can also handle cheques denominated in a non UK currency. I'll check this out and report back.

R.

[Vasco]

Easternlight said:

Nickbrapp said:

Because banks don’t want to offer a in branch service, they just do because old people still exist, they make no money from it.

I do work for Barclays and find when I’m in the branches people are doing stupid stuff like ordering a new debit card or moving money from one account to another. Just do it online ffs!

You do realise that there are people who aren't online ffs!!

The problem is that the vast majority of the country, even 'oldies', is online, using computers or phones. It's hardly something that has crept up in recent years without people noticing.
People who don't want to be online don't have to be (albeit their life might be easier) but it's unrealistic to stop the rest of the world moving forward just because some people don't want to take part.

[Mr Penguin]

Vasco said:

In very general terms, the Post Office can do many of the transactions still required by some on this thread. The problem tends to be that there aren't so many POs these days, and the delay to actually get served can be lengthy.

The other problem is that nobody seems to want to advertise it or the services they offer or for which banks. It makes a lot of sense for post offices to replace bank branches because you only have to go to one place for all banks and the banks can save money while increasing their reach.