Why did Barclays trigger this loan?

Why did Barclays trigger this loan?

A loan was triggered without my signature – how did this happen?

I called Barclays (LSE: BARC.L – news) to ask about when the option of a loan on a bedroom and
bathroom with a retailer would begin. The bank said it would be following a
“satisfaction” note from the store, which was dependent on my signature.

Despite this, out of the blue I received a “welcome” letter from Barclays (Swiss: BARC.SW – news)
stating that the loan had begun. When I queried this it offered compensation
for my having been misinformed. A further call was met with another vague
offer to delay the commencement date. I was then told that a loan date could
be triggered without the “satisfaction note”.

RC, Cornwall

How a loan is triggered will be shown in the terms and conditions. In this
case it was when delivery was confirmed to the retailer.

Initially the amount to be borrowed was £22,000 interest-free for 12 months.
When the products proved disappointing you went for a cheaper option
elsewhere for £5,000.

Then the original Barclays Partner Finance (BPF) loan was activated without
your final say-so, contrary to what the bank had told you. At that stage BPF
failed to respond to you.

Now (NYSE: DNOW – news) a spokesman says: “We apologise for the frustration Mr C experienced when
he inquired about his loan. We have already sent him a cheque for £150 as a
gesture of goodwill for the inconvenience caused when he first contacted us.
As his query still wasn’t settled adequately we have now offered him a
further £50 and waived the early settlement fee on his loan.” This latter is
£29.

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Why did Barclays trigger this loan?