Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.
RSS Feed Print
Beware of Barclays in the Seychelles
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5779

Posted: 8/4/2009 1:13:48 AM


This is the newest and funniest of all offshore bank scams that I have ever seen. Barclays Bank in the Seychelles is actually charging a 10.5% fee for all excess of currency as they claim that having capital is very expensive. They're claiming that many of the clients are actually going to unauthorized access on their accounts which is exacerbating the capital consumption. Pretty much what these people trying to say is is that if you do too much business and send more money than with the bank would like out of your account and they're going to charge you 10.5% on international currencies and a whopping 32% on local currency in the Seychelles. Now, I am not a banker but I conducted to you that this sounds like a scam brewing up and who knows how long this bank is actually going to be afloat because they're definitely deter people from opening accounts there as well as many people will actually leave the bank. It is my opinion, that the bank is probably in very dire financial need and because many people are actually leaving the bank because of the very poor customer service offered by the institution, they want to make some money on the way out before the ship sinks and burns before their very own eyes. So this 10.5% on international currencies will most likely going to the pocket of somebody or someone in order to continue their rich lifestyle after the bank goes bust. So if your banking at Barclays in the Seychelles right now you might want to look for another bank real soon but be prepared to be hit exactly where it hurts and that's in the pocketbook. They're going to drag you over the coals and make you pay dearly for what is rightfully yours. If you want to be legally robbed and keep on banking with Barclays Bank and the Seychelles as it seems like they have a permit to do so because as of the moment no one has stood up to them to stop the shenanigans. I have included the e-mail that I received from them as a client and when I received my jaw dropped and hit the floor as I was astonished by a more than idiotic regulation added by these folks.

Burned by Barclays

Sent: Wednesday, July 29, 2009 2:29 PM
Subject: RE: unauthorized excess

Dear Esteemed customers,

Since the onset of the current credit crunch capital has become
extremely expensive. We have noticed that many customers frequently go
into unauthorised excess on their accounts and exacerbate capital
consumption given the very high weight they carry under BASLE II. This
of course is a practice that as a responsible bank we wish to

Consequently, we have introduced penalty a rate of 10.5% for all
unauthorised unsecured foreign currency excesses. The rate of 32%
continues to apply to all unauthorised excesses in local currency. In
order to avoid this penalty rate, please ensure that you contact your
respective relationship manager who can provide you with appropriate

Should you have any further query do not hesitate to contact Ms Pamela
Charlette on ?????? or myself on ??????.

We thank you for your continued support and loyalty.

Guyliane J??????
Business Development Manager
Offshore Banking Unit
Barclays Bank (Seychelles) Limited
-----END QUOTE-----

Posted: Saturday, August 13, 2011

Posted: 8/4/2009 9:35:09 AM

By: knightmare3000

to check out what they are doing,these folks in that region are reliable from what I hear. ask them or transfer your account to them in Mauritius. it is close by. it is the old Banque Privee Edmond de Rothschild ( Ocean Indien). they are an Austalian holding company with offices throughout Asia and Africa/Indian area. seems to be a good outfit. ask them


Jump to different Forum... 

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

View Recent Digests

Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.