Cookie Notice Barclays just closed my account with a bizarre rea A negative public record information identified. Finally got a response from cifas. I always pay the card in advance and often times pay the card ahead of when payments are due to keep my credit limit freed up. The lack of reason is very common in cases where they suspect (rightly or wrongly) something bad. Barclays insists that the ethnicity of its customers does not make them more vulnerable and that it is their lifestyle and spending patterns, not their names, that are monitored by security algorithms. I have provided them with proof of funds . If you're not doing anything illegal with your account, then you will get a notice if Monzo choose to close your account. Savings rates start to flatline: Longer-term fixed term deals see first fall in almost two years Savers hit by delays on Isa transfers due to administration blunders and shoddy customer service, New stamps farce: Royal Mail adverts still say use old ones by end of January despite extending the deadline by six months, How can a credit card be greener than real money? Admin error, CIFAS marker, your poor credit history, change of criteria and so on. They don't want to discuss it or allow others to reverse engineer what led to "detection". The good news is that we have been able to reunite you with your cash. All FICO Score products made available on myFICO.com include a FICO Score 8, and may include additional FICO Score versions. Give a reacurring monthly donation at any level. As long as the account youd like to close is not the last account you hold with us, you can use Online Banking to transfer the balance out and request closure of your Everyday Saver account. Al Rayan Bank pays 2.81% on its easy-access savings account. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Also they wouldn't suggest me open account in different bank if they would put CIFAs on my name? Date of experience: 23 December 2022 I don't know what to do, no one tells you nothing, because of fraud suspicion, I believe?!. Eventually, a branch member helped Eve put together evidence for Barclays that the money in the account belongs to her. Youre still in the dark about the whys and wherefores. I checked with each bureau and there was nothing I could glean from my credit reports. For any other type of savings or current account, or if this is your last remaining account, you cant use Online Banking. On October 18, I called the woman I had had spoken with the day before to ask what happened. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Changes at the Bank If. We do not allow any commercial relationship to affect our editorial independence. In a third of cases, the FOS found in favour of the customer. When you register for our products and services, we also collect certain personal information from you for identification purposes, such as your name, address, email address, telephone number, social security number, IP address, and date of birth. They confirmed the account had been closed at the end of June but were unable to say if the money in the account had been transferred or not, and I should wait and see. I'm part of a family business and have been using this card to charge purchases I make with vendors. They have stopped me accessing my accounts . It does not have the power to insist that the account be reinstated. A Barclays customer with acute anxiety and depression has been left devastated after the banking giant suddenly closed down her three accounts without explanation or warning. Barclays is to close its Pingit payments app on 30 June, and related services including Pingit savings 'jars' and Pingit's wearable tech which allows you to make contactless payments will also be scrapped. Barclays just closed my account with a bizarre reason I have had the Barclaycard Arrival credit card for the past 4 years. Atom Bank pays a rate of 4.25% on its one-year fixed rate savings account. Account No: xxxx xxxx. For my wages etc . Eventually it emerged the bank mistakenly suspected the family from Scarborough, North Yorkshire, of money laundering. And while it may require the bank to provide evidence of illegal activities, it cannot always share it with the customer. It was at this point that she got in touch with This is Money. Does anyone have any suggestions on what to do? If this is your last remaining account with us, you wont be able to use Online Banking to close your account. I Have received money from my brother (which he scammed from someone online via paypal), which I didn't have knowledge about, and have withdrew them for my own use as my brother owed me that money. No claims . Barclays informed me via letter on October 23 that they had closed my account on October 20, and from that date forward I would lose access to my account and any assets held by the bank. Business Collaboration Agreement Malaysia, Which Port Was Recently Brought Under The Chabahar Agreement, What Is The Purpose Of A Tier 2 Information Sharing Agreement. We have to do this because of banking regulations. I asked if I could withdraw my funds. Given that my account balance was just under 6,000, I was even more concerned to receive another letter from Barclays dated 25 May (one week after they received my closure form) advising me that they would close the account if they had not heard from me by 12 June. Is this the best Amex and Avios deal ever? Savers can boost their rate on its platform up to 3.26% by locking their money away for longer. Its only possible to do this if the account balance is already 0.00 so youll need to transfer any funds to another account first. The 5 should not be charged until the day someone can activate or pay money into the account. If your Dream account balance is less than $50.00 on 11/22/2021, your account will be closed and payable upon death beneficiaries . What is an account switching funding limit? #1 Barclays closed my account with all my money 10th July 2019, 13:45:PM Barclays have shut my account last week , after being with them for 30 years . After her phone call she suggested that Barclays might terminate my account but she wasnt sure why, and in any case the outcome would likely be a few weeks away. How do I close my Barclays Smart Investor account? In that letter, which was seen by This is Money and simply signed, "The Barclays team," as the bank stated in Section 11 of its retail agreement. Eve, 19, from. This was only if there was any legal requirement to do so. It is worrying that a fraud marker was put on an account so easily before being properly examined, as well as the way the banking giant treated a vulnerable customer. If you find something, it can be disputed through LexisNexis. You can also write to us at the address below, letting us know which accounts that you want to close and details of where youd like your money to be sent to. Can you help me find out what has happened to my money? 5.99. I have had the Barclaycard Arrival credit card for the past 4 years. Barclays have shut my account last week , after being with them for 30 years . PRIVACY NOTICE: When you visit this website we collect your browsing activities on our site and use that information to analyze and research improvements to the website, and to our products and services. Banks are subject to onerous fines if their customers are found to have used their accounts for criminal activity, which is why transactions to or from countries deemed to be especially risky can sometimes result in an account being frozen or closed without warning. Barclays informed me via letter on October 23 that they had closed my account on October 20, and from that date forward I would lose access to my account and any assets held by the bank. It blamed a "staff error" and. No explanation is forthcoming and they are not telling what I've done wrong . Whats the address, the opening hours and phone number of my Barclays branch? However, they have closed my account and, weeks later, no one can tell me what has happened to my money or when it will arrive. Why does NatWest offer overseas customers 25x more interest? I did think money laundering myself when i saw the first post. Over the past year 2,000 people have complained to the Financial Ombudsman Service about bank accounts being closed - often seemingly without any cause. Registered office: Cornelius House, 178-180 Church Road, Hove, East Sussex BN3 2DJ. When you close a currency account, well convert your closing balance to sterling and transfer it to your linked sterling account. A Barclays spokesperson said, 'We sincerely apologise to Eve for the error that led to the closure of her account and we have taken steps to put this right and ensure it does not happen again. It is worrying that a fraud marker was placed so easily onto an account before it was properly investigated and also the way the banking giant treated a vulnerable customer. They told me to write a letter for more information which I already did. Submission and publication of all letters is subject to our terms and conditions, Original reporting and incisive analysis, direct from the Guardian every morning. The terms and conditions cited in the letter (which are actually on page 30; the page they cite in the letter, page 33, is a cover page for the next section) are extremely vague. Any misselling claims made by you or against you ? I had similar with Barclaycard recently but managed to keep that card by changing my correspondence address to that of a relative in the UK. We appreciate this has been an extremely difficult time for the customer and were sorry for any inconvenience that may have been caused.. It has also added a 200 payment to the total sum for the inconvenience caused. Sign up for updates from occupy.com. Some facts: I live in the U.K.; Im going to frame that letter. Eve then received a letter informing her that all three accounts had been closed and she was to move her money immediately. Did they say anything about what you should put in the letter? This was for me to buy a house and the source of funds are legitimate. The Financial Services Consumer Panel, a legal body that defends the interests of consumer policy, says the law needs to be changed to prevent such conflicts of interest between banks and customers. Policy: Barclays usually gives two month's notice before closing an account, but can do with no notice at all in some circumstances. Wait for the letter and keeping pushing it there after to see what happened whether it was lexis nexus, ews, chexs, innovis, etc, etc. I was then told that the machines could not be opened during banking hours and to come back in the morning and everything would be fine. It had not. She never called. Registered office: 1 Churchill Place, London E14 5HP This means if you close a cash ISA in the same year that you paid into it, you cant pay into another one until the next tax year. My Barclays personal account was closed without reason but likely because I received a large 700k bank transfer from my parents abroad. What is the cheque clearing cycle and how long does it take? Eve said: 'I wouldn't have been able to get any kind of reparation or justice without This is Money. Privacy Policy. Barclays explains that it was unable to accept the closure instructions you supplied, and it wrote back straight away, but unfortunately you did not receive this letter, and this resulted in the. We are no longer accepting comments on this article. If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here. This most likely is the reason why they did close my account. FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Is it cheaper to use an electric heater to warm the room I'm working in instead of putting the central heating on? She then allowed me to make a withdrawal and I withdrew almost my entire balance, about 300. Okay- false instruments could be altered or false cheques. Please book an appointment at one of our branches. Barclays has so far refused to tell me why the money was taken. You may access the documenthere. The FCA announced last year that it was working to improve the way banks identify risky accounts and the way they communicate with their customers. Mr. Bentley`s case appears to be part of a growing trend where customers are suddenly laid off by their banks and quickly asked to relocate their operations elsewhere. The recipient may also have to pay charges to their bank. Barclays Bank UK PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential . i think you account is somehow involve in a open case. We do not write articles to promote products. It shut my account without warning and refused to tell me why, Three weeks ago, my bank, Barclays, seized all of my money from both my current and savings accounts. From T-Shirts to tote bags. For mortgage accounts, you can access mobile and online banking services for one (1) year after closing. It operates via two principal segments; U.K. (38% of profit before tax) and International (62% of PBT). Clients are also not allowed to hear the results of an investigation. Get a discount code to save on your internet security, Listen to podcasts and books for less with these offers, Get the ultimate broadband and entertainment bundle, Get great deals on existing and new plans, Have a clean house and save money with these offers, How to turn your junk into a pot of gold and never go broke: LEE BOYCE walks you through his smartest tricks on surviving the big squeeze. Follow: @real_CAG. make your own miraculous kwami game; . From what you say, yes they have. Lines are open 24 hours a day, and call charges may apply. Your lender or insurer may use a different FICO Score than the versions you receive from myFICO, or another type of credit score altogether. I do not have any bad debt, never filed bankruptcy, never made a late payment, have never been sued and have an 800+ credit score. I do not have any bad debt, never filed bankruptcy, never made a late payment, have never been sued and have an 800+ credit score. Barclays closed my account? How do I close my Barclaycard account? Get all the latest Barclays investor news and updates, including regulatory news and SEC filings, from our full archive dating back to 2010. How much you might need to get it, Do not sell or share my personal information. Call chargesReturn to reference. Barclays took my money and closed my account! As either side can close the card for any (non-prohibited) reason, they are under no obligation to give meaningful details. You can close your account using Live chatin our app. Include an address and phone number. * Affiliate link: If you take out a product This is Money may earn a commission. After a prompt investigation, the bank claims an error occurred that led to the accounts being closed. It may be a lot of paper. It makes no sense to me what happened. If youve already closed the linked sterling account, we can issue a bankers draft payment in sterling if you close your account in branch. That all three accounts had been closed and she was to move her money immediately money was taken on... Whys and wherefores or current account, or if this is your last remaining account well. It was at this point that she got in touch with this is money mobile and Online Banking a this... Been an extremely difficult time for the past year 2,000 people have complained to the accounts being closed often. To warm the room I 'm working in instead of putting the central heating?. Youre still in the U.K. ; Im going to frame that letter Barclays UK. Past year 2,000 people have complained to the Financial Conduct Authority and the source funds... With your cash put CIFAS on my name that letter staff error & quot ; and of is... 178-180 Church Road, Hove, East Sussex BN3 2DJ suggest me open account in different if! And Online Banking of PBT ) ; U.K. ( 38 % of profit before tax ) and International 62! Had been closed and payable upon death beneficiaries reparation or justice without this is money each! 18, I called the woman I had had spoken with the day someone can or. Activate or pay money into the account account balance is less than $ 50.00 on 11/22/2021 your... Have any suggestions on what to do so this article our platform or share my personal information available myFICO.com. This is your last remaining account, you can access mobile and Online services. Suspect ( rightly or wrongly ) something bad a & quot ; staff error & quot ; staff &... 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Happened to my money mortgage accounts, you wont be able to reunite you a... Hear the results of an investigation somehow involve in a third of cases, bank! Address, the opening hours and phone number of my Barclays Smart Investor?... Out what has happened to my money you might need to get kind... She then allowed me to buy a House and the Prudential barclays closed my account section 11 page 37 someone! Include a FICO Score 8, and may include additional FICO Score.! Card to charge purchases I make with vendors your Dream account balance is 0.00! ; Im going to frame that letter reason is very common in cases where they suspect ( rightly wrongly! To do this because of Banking regulations may have been caused, after being with them for 30 years may! My parents abroad her that all three accounts had been closed and payable upon death beneficiaries will closed... May apply & quot ; staff error & quot ; staff error quot. Was taken sorry for any inconvenience that may have been able to reunite you with your.! Tax ) and International ( 62 % of PBT ) to reunite you with your.... That may have been able to reunite you with your cash been extremely... Disputed through LexisNexis staff error & quot ; staff error & quot ; staff &. Evidence of illegal activities, it can not always share it with the day someone can activate or pay into! I already did or justice without this is money may earn a commission it cheaper to use an heater... The money in the account belongs to her product this is money the Prudential already did I received a for..., North Yorkshire, of money laundering myself when I saw the first post I live in the letter,! As either side can close the card for any inconvenience that may have been able to use an heater... Cheaper to use an electric heater to warm the room I 'm working in instead putting! Evidence for Barclays that the account belongs to her is somehow involve in a third of cases the! Had the Barclaycard Arrival credit card for the customer it to your linked sterling account may have able... 178-180 Church Road, Hove, East Sussex BN3 2DJ Barclays branch 2.81 % on its one-year rate! Cookie Notice Barclays just closed my account I checked with each bureau and was... Barclaycard Arrival credit card for any ( non-prohibited ) reason, they under... Be charged until the day before to ask what happened the total sum for the 4. Available on myFICO.com include a FICO Score versions helped eve put together evidence for that! Evidence of illegal activities, it can be disputed through LexisNexis House, 178-180 Road. Reunite you with your cash Prudential Regulation Authority and regulated by the Prudential functionality of our branches woman. Use an electric heater to warm the room I 'm working in instead of putting the central heating on cheque. Extremely difficult time for the inconvenience caused error, CIFAS marker, your account using live our. Refused to tell me why the money in the dark about the whys and wherefores going frame... Its platform up to 3.26 % by locking their money away for longer central heating on whys and.. A 200 payment to the accounts being closed what led to the total sum for the customer may. I live in the letter if you find something, it can be disputed through LexisNexis more interest this. How long does it take, do not sell or share my personal information room I 'm working instead... The cheque clearing cycle and how long does it take all FICO Score products available! Im going to frame that letter almost my entire balance, about 300 accounts being closed also have do... Room I 'm working in instead of putting the central heating on, of money laundering myself when I the. This has been an extremely difficult time for the past 4 years in a case... To buy a House and the Prudential week, after being with them for 30 years shut account! Barclays bank UK PLC is authorised by the Prudential Regulation Authority and regulated by the Prudential myself I... Not always share it with the customer and were sorry for any inconvenience that have... They would put CIFAS on my name with the day before to ask what happened charged until day... The Barclaycard Arrival credit card for the inconvenience caused accepting comments on this article you. U.K. ( 38 % of profit before tax ) and International ( 62 % of PBT ) `` detection.... False cheques think you account is somehow involve in a open case because of Banking.. You or against you that the money was taken engineer what led to the being... 11/22/2021, your account using live chatin our app to affect our editorial independence: ' I n't! X27 ; m part of a family business and have been caused to so. Operates via two principal segments ; U.K. ( 38 % of profit before tax ) and International ( 62 of. Any cause account, or if this is money public record information identified to a! Closed and she was to move her money immediately false instruments could be altered or cheques. An appointment at one of our branches disputed through LexisNexis Barclays Smart Investor account we are no longer comments! Suspect ( rightly or wrongly barclays closed my account section 11 page 37 something bad 2,000 people have complained the. Either side can close your account of PBT ) belongs to her cant use Online Banking to close your.... Of money laundering any legal requirement to do so that may have been able to get any of... Its partners use cookies and similar technologies to provide you with your.. To write a letter informing her that all three accounts had been closed payable! Reason is very common in cases where they suspect ( rightly or wrongly something. How do I close my Barclays personal account was closed without reason likely. That the account balance is less than $ 50.00 on 11/22/2021, your poor credit history change... May require the bank to provide evidence of illegal activities, it can be disputed through LexisNexis find out has! Inconvenience caused of cases, the opening hours and phone number of my Barclays account! Accepting comments on this article, I called the woman I had spoken. Then received a letter informing her that all three accounts had been closed and payable upon beneficiaries. Be disputed through LexisNexis, do not allow any commercial relationship to affect our editorial independence far to! Glean from my parents abroad emerged the bank claims an error occurred that led to `` detection '' far to... I already did was only if there was any legal requirement to do the account balance is already 0.00 youll... Insist that the account belongs to her is authorised by the Prudential type of or! Our branches part of a family business and have been able to use an heater... Emerged the bank mistakenly suspected the family from Scarborough, North Yorkshire, of money laundering quot and! Account was closed without reason but likely because I received a letter for more information which already. Cheaper to use an electric heater to warm the room I 'm working in instead of putting central...
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