Housing transactions crashed too
What about the knock-on effect on consumers? Barclays kept schtumm about that. Problems with Barclays started the Friday before the bank holiday and caused nightmare problems for friends who were moving house that day. Their house had just been emptied and was ready to move in to, so several truckloads of furniture duly rolled up at midday. Trouble was, the vendor’s payment had not arrived, so they weren’t given the keys nor allowed to unload.
Finally turns out (at 4 o’clock - still no money had arrived) that the problem as with Barclays Bank not being able to transfer the cash. Everyone in the chain had to get a solicitor’s undertaking to enable their respective moves to go through. The elderly vendor was deeply distraught as, in theory, she could have been rendered homeless for the duration. Meantime my friends move out on the strength of just a bit of paper worth six figures in cash. The whole episode was shambolic. Nothing works in this country any more. Well done to Barclays though for dodging a bullet and escaping the wrath of Sky News or the Daily Mail.