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View Full Version : Are Barclays Lying???


Weston Super Saint
22-08-2008, 01:11 PM
On my online account service, my 'current cleared funds' are consistently declared by Barclays as being £1 less than my actual a/c balance.

Now, I know that I have nothing outstanding and no payments due for £1, and frankly the money isn't technically missing from my account, but could Barclays be doing this to 'overstate' their 'health' in these credit crunch non recession ;) times??

For example, if they understate 10 million accounts by £1, they can surely say that they have £10million more working capital can't they??
TopGun
22-08-2008, 01:20 PM
I expect your £1 is helping prop up Saints' overdraft.
benjii
22-08-2008, 01:23 PM
No.

Deposits are good. Banks like deposits. Especially when LIBOR is high.

Can't see any reason why they would want to understate their deposit balance. Deposits are their working capital.
Johnny Shearer
22-08-2008, 01:57 PM
No.

Deposits are good. Banks like deposits. Especially when LIBOR is high.

Can't see any reason why they would want to understate their deposit balance. Deposits are their working capital.

Argh! Not LIBOR. I shall be back at college tomorrow and will no doubt come across it at some point!
benjii
22-08-2008, 02:04 PM
Argh! Not LIBOR. I shall be back at college tomorrow and will no doubt come across it at some point!

Just make sure it's a laminated book then.
simo
22-08-2008, 02:40 PM
Maybe you need to always keep £1 in to keep the account open?