Fellow Barclays Account Holders in the UK – Be sure to formally complain ASAP
If you received a text today from Barclays informing you that they have decided to stop you from spending your own money how you see fit – Then be sure to complain promptly and aggressively.
For those that need help forming a complaint I shall include mine below:
Today I received the following message from Barclays:
"As you've made a payment to Binance this year, we wanted to let you know that we're stopping payments made by credit/debit card to them until further notice. This is to help keep your money safe. For further info, please search FCA Binance online. We're sorry for any disruption this may cause you. Your Barclays Team"
I find this curious. Binance.com, the service I use and have previously sent money too, Is a Cryptocurrency exchange.
Trade and Purchase of Crypto Currencies are not currently regulated by the FCA.
Additionally, Binance.com has put out this statement:
"Binance has updated its website and app to provide a notice about Binance Markets Limited (“BML”) as requested by the Financial Conduct Authority (“FCA”) in the United Kingdom (“UK”).
The FCA issued a notice on 2021-06-26 (UTC) (“FCA Notice”) regarding Binance Markets Limited. BML is a company incorporated in the UK and regulated by the FCA. BML is a separate legal entity and does not offer any products or services via www.binance.com.
The FCA Notice applies only to BML, as the entity is regulated by the FCA. The FCA Notice requires BML to seek prior written consent of the FCA in order to undertake any regulated activities in the UK. The FCA Notice does not apply to the products and services provided through www.binance.com, nor does it change any arrangement with our users"
It would appear then, that by sending out this text en masse to everyone who has previously sent payment to Binance, you are trying to create a panic amongst Cryptocurrency investors and again attempting to manipulate markets, similar to between 2005 and 2009 when Barclays manipulated LIBOR to gain profits and/or limit losses from derivative trades. For which Barclays was made to pay $450 million in fines.
I would hope that you will retract this decision to take control of Barclays account users spending immediately.