I noted a very concerning issue relating to dormant accounts aka unclaimed assets where barclays bank has decided to charge levies on a savings account.

If your relative passes away and leaves behind a savings account with cash the bank will charge a maintenance fee of 450/- per month for up to 18 months, yet on average it takes 2 to 5 years to get letters of administration.

This amounts to 8,100/- for the period, to many of us that might not seem like a lot of money but to a bereaved family that could be the difference between a child completing school or not.

Assume there are 1000 such accounts which means BBK will make 8.1 million in maintenance fees yet over the same period they have been lending the same funds at 13.5% pa.

Is there a law that allows a bank to charge fees on a savings account that has cash in it?

@Stocksguru

There is no law governing bank charges on savings accounts. BBK and SCBK have been milking Kenyans for years before we discovered ledger free banking.

You need to remember BBK was founded on Slave trade money and that malevolence runs in the family. Every-time you look at a BBK building, look keenly above the main door and you will see blood dripping down the woodwork.

Encourage all your relatives to be using local banks to avoid the BBK experience. British banks are the last frontier of stealing from former colonies by the dirty pigs.

Never deposit your hard earned cash in a savings account at Barclays Bank.They were charging me shs 300 per month for the said account.I closed the account and my 2 Zim cents in it I bought shares for Barclays Bank.Guess what,now they pay me a few Zim cents as my dividends after they ROB savings account holders.Not bad,right??

@VituVingiSana
I so agree - BBK,total rip off and the bank charges are over the roof inasmuch they boast of this and that...blah blah blah!There're better banks out there e.g CO-OP where you get value for your money.

LOL... chief, it is the 21st century! History is long gone... In the same vein, we should never buy from the warabus! They are/were slavers...

As East Africans, we suffered not from British slavery but arab slavery!!![/quote

@VVS

But the Arabs did not take our land, did not colonize us, did not look on us as second hand citizens, did not introduce systems of sucking our blood like Mzungu Banks, did not burn brewing of changaa in order for mzungu diagio to sell mzungu beer and whisky, do I continue...? Vitu mob, that's on a soft note.

Better question, if Arabs traded in slaves, did they keep some to serve them in their countries? If so, why don't we have Arab niggers today?