Debt Reserves For Barclays Customers

Debt Reserves For Barclays’ Customers

Barclays Bank has been praised by for introducing a personal reserve which allows customers to dip into an agreed amount for a fee of £22.  Barclays has created a new facility for customers wishing to exceed their agreed overdraft limit.  

As of 18 August, Barclays’ customers will be able to access the “personal reserve” facility, an agreed amount of cash that they can dip into for five days for just over £22.  Payments which go beyond the agreed amount will be bounded or, if guaranteed transactions, subject to an £8 charge for each returned or guaranteed transaction.

Our view

Straight and clean avoiding huge penalty charges if you breech your credit limit with the bank.  This should help reduce excess overdraft penalty charges for those times when you miscalculate or when cash flow is tight before ‘pay day’.  

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