I heard from Barclays this morning, in my ongoing argument with them (in a nutshell, I think they’re rubbish and greedy, and they’re looking into it) and it wasn’t long before the red mist started to descend.
I told the lady on the phone that she and those among her colleagues who I’ve spoken to regarding the matter have all been very pleasant, but collectively and institutionally their processes and case management are awful (and the root cause of my complaint).
The one to suffer ultimately in all this, I told her, isn’t going to me, it’ll be Barclays, when other smaller, challenger banks emerge and are able to clean up where cumbersome institutions such as hers have messed up (ie, charging people too much for too little then taking months to fix it).
As I’ve written already and the lady told me, we (consumers) are able to switch providers much more easily now compared to just a few years ago, which is precisely why it’s in Barclays’ interests to get it right, if they’re paying enough attention before their profits take a hit.
The trouble is, fixing so many failing processes in such a large institution is like trying to turn an ocean liner so that it’s pointing the other way: it’s doable but painfully slow. The difference is that there are smaller boats waiting to help those who want to get off mid-process.
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