CMA Letter to Barclays about one breach of the Retail Banking Order
Letter to Barclays about one breach of Part 3 of the Retail Banking Market Investigation Order 2017.
Documents
Details
Part 3 of the Order requires banks and building societies that offer Personal Current Accounts (PCAs) to publish Service Quality Indicators (SQIs). These indicators show whether surveyed account holders would recommend certain aspects of the quality of service offered by a bank or building society to friends or family. The information must be updated twice a year.
Barclays did not update an SQI relating to Overall Service Quality (OSQ) for PCAs in Great Britain. This is one of 4 SQIs Barclays is required to display under the Order. It should have displayed the OSQ for August 2021 but between 16 August and 13 October 2021 inclusive it mistakenly continued to display the OSQ for the previous period.