Barclay's withdrawn all my money and left me £3,500 in debit

[callumhburgess]

Hello All,

 

As of last Wednesday my two barclays personal accounts, one savings account and business account are collectively showing to be £3,500,000 in debit and the funds 'To Reconcile' (their teminology) to Coventry OPS 05 ADV.

 

A formal complaint was logged last Thursday and I am yet to recieve any formal reponse. Collectively I must of spent a total of 16 hours on the phone, being passed around to one department after another given a range of excuses from technical error, account review and fraud.

 

I have done quite a bit of research and understand it may be linked with anti money laundering checks as I had a payment of £50,000 paid into my account roughly four weeks ago, since then I have had to make two large payments of £15,000 and £9,000 all of which are justified business expences which have invoices and receipts.

 

The situation is now seriously effecting my livelyhood and the people who are dependant on me and my business. Barclays have left me with no access to any funds and are fully aware that I have no other banks accounts where I can access funds, effectively leaving me without food, and basic essentials for over a week.

 

If anyone has been through this before and could some indication of the best steps moving forward it would be greatly apprecated.

 

p.s. I know there are similar threads on here of Barclays withdrawing funds for investigation but from what I can tell none have had there account showing as being as overdrawn as mine.

 

Thank you.

[BankFodder]

You are going to find this very difficult to deal with. This kind of thing is governed by the CIFAS rules which seem to give the banks the right to make it up as they go along. Start reading it up and also look around on the forum for threads containing CIFAS.

 

Is that right that you are £3.5 millions in debt? I think that you will need to explain fully.

 

Also you will need to put everything in writing to them and say that you want to make an FOS complaint - but don#t expect a lot of help from anyone and expect to be stonewalled all the way

[callumhburgess]

Are you saying Barclays are accusing me of fruad or that I am a victim of it? Surely if they was accusing me then I would have a chance to defend myself?

 

Regarding the £3,500,000 I have no idea where that was come from each account was in significant credit and now all are showing to be in debit. Barclays are saying its because of a technical error.

[BankFodder]

Put a detailed file together. Very important that it be comprehensive and that it is supported by as much evidence as possible. It would be a very good idea if you were able to get it all signed off as a chartered accountant so that everything was fully explained.

Then submit the file to the bank with an explanatory summary of it contents and of it conclusion. On that basis make your complaint to the FOS.

You had better understand that this could go on for a couple of years or more.

Once the banks invoke CIFAS, they seem to interpret the rules very strongly in their own favour - which is mainly that they tell you nothing and have zero communication - including that they don't even tell you of their suspicions or that it is CIFAS related.

Frankly the banks are out of control. There is no natural justice and rules relating to fair communication seem to go out of the window.

It really needs someone to sue them under BCOBS - but no one has stepped forward so far.

[callumhburgess]

Out of interest how can you be so sure that it is because of CIFAS? I don't mean to sound condersending but I'm just completely stumped! I run a small company funded by the governement start up loan organistation NWES. It just very hard to take in that this may take years to resolve when we havn't done anything wrong.

 

Thank you

[rebel11]

Hi callum

 

Write a Formal Letter of Complaint, mark it as such. Explain what's happened, how they have let you down and what you want them to do.

Tell them you want to be compensated for their error as this has began to severely damage your business.

 

Send it to:-

 

Antony.jenkins

Group Chief Executive

Barclays Bank

[email protected]

 

 

Thread moved to correct forum.

[BankFodder]

Out of interest how can you be so sure that it is because of CIFAS? I don't mean to sound condersending but I'm just completely stumped! I run a small company funded by the governement start up loan organistation NWES. It just very hard to take in that this may take years to resolve when we havn't done anything wrong.

 

Thank you

Because it has all the hallmarks of CIFAS and you had better assume the worst. Of course, it is up to you what action you want to take - but you can search for CIFAS stories on this forum and you may start to see a pattern

[citizenB]

You might also want to send a Subject Access Request - this is a request for all information they have in respect of your relationship with them. It will cost you £10.00 and they have 40 calendar days in which to comply. You might find something within the data provided that might help you.

[BankFodder]

http://www.google.co.uk/cse?cx=partner-pub-0964707606882478:652l7hswbgv&ie=UTF-8&q=cifas&sa=Search+CAG#gsc.tab=0&gsc.q=cifas&gsc.page=1

[callumhburgess]

Thank you for your help, i've just got back from the police station and they have reffered me to speak with action fraud who have advised me that CIFAS wouldn't have the power to freeze my funds but only but a marker on my account/ credit raiting. Of course they may wrong but they have never heard of a case where the account has gone from being over £20,000 in credit to £3,500,00 in debit because of CIFAS.

 

The stupid thing is I can't even obtain a credit history search because they all require funding which thanks to my bank I have no access to.

[callumhburgess]

If it is a case that this inveestigation is because of CIFAS then what happens to the orginal £20,000 in my account?

[BankFodder]

OK - good luck - but be warned, despite what the police say the banks do freeze funds and they also become very uncommunicative. Frankly - I think that the police are wrong about the bank's powers when they decide they will rely upon CIFAS.

 

Follow the threads from the search link I have posted above. I'm afraid that there will be some uncomfortable reading - but you will soon see how it happens and how frustrating it can be.

It is trying to lock horns with a little police state.

[BankFodder]

You have now said £3.5 k in the red - not £3.5 millions.

Which is it?

[callumhburgess]

Sorry that was a typo, its 3.5 Million in the black. Prior to all of this happening my business account was 20,000 in the red.

 

Thank you for the threads I will try find some guidance.

[rebel11]

Hi callum

 

You could consider seeking assistance from your MP to look into this for you.

 

http://findyourmp.parliament.uk/

[Klandestine]

p.s. I know there are similar threads on here of Barclays withdrawing funds for investigation but from what I can tell none have had there account showing as being as overdrawn as mine.

 

Sorry that was a typo, its 3.5 Million in the black. Prior to all of this happening my business account was 20,000 in the red.

 

I'm confused. Is each account overdrawn or not?

Also what does the exact description on your statement for each of the affected accounts read?

 

(Also just to clarify to some of the posters in this thread: As Action Fraud has correctly explained to the OP, essentially CIFAS only maintains a database of fraudsters/suspected fraud)

[callumhburgess]

My two personal accounts and savings account are £500,000 overdrawn. Not relating to any specific transaction. My business £1,500,000 overdrawn not relating to any transaction, the only transaction on each accounts is my business where £20,000 has been marked to reconcile to Coventry ops

[slick132]

Hi Callum,

 

If the total debt shown as owed to Barclays is now £3.5M, can you say roughly how much in total has been removed from your a/c's.

 

To me, this sounds like Anti Money Laundering checks which the bank carry out but they tell you nothing !! When they're satisfied, the money reappears with no explanation.

 

I assume fraud against you is not the likely explanation as they'd not have allowed such sums to be removed without checks being carried out (one would hope).

[callumhburgess]

Thank you for the messages. After reading the other forums I did think it was most likely something to do with Anti Money Laudering it just concerned me as the accounts were showing as being so much in debit.

 

It seems ludicrous that they are able to do this to my business account which people other than myself are dependant on. It is most definitely a case of guilty until proven innocent.

 

The stress has caused anxiety attacks, loss of sleep and weight loss all of which Barclays are aware of but have yet to share any information.

 

At this point it probably won't make eny difference but last Wednesday when the incident occured I was put through to a department which notified me that a random review was being taken out on my account with no particular agenda and that the account would be fully fuctioning on Monday. Due to this being one of the first time I had phoned Barclays I was not in the practice of writing down names and departments and coincidentally and discussion was never logged.

 

Thank you

[citizenB]

At this point it probably won't make eny difference but last Wednesday when the incident occured I was put through to a department which notified me that a random review was being taken out on my account with no particular agenda and that the account would be fully fuctioning on Monday. Due to this being one of the first time I had phoned Barclays I was not in the practice of writing down names and departments and coincidentally and discussion was never logged.

 

 

 

You could write a letter which details what you can recall of the conversation - and ask them to confirm your understanding of the call.. something along the lines of..

 

Dear Sir/Madam

 

Account references

Re : Call to B/Shark on Date - Time

Formal Complaint

 

The following is a summary of my understanding of a conversation between me and an unnamed representative of B/shark Bank. It is also a formal complaint

 

1:

2:

3:

 

 

If your understanding is different from mine, please provide a transcript or copy recording of the call.

 

Send it their Head/Registered office by a tracked mail service.

[king12345]

Go to a large branch and command to see a manager.

Do not go away until they speak to you in person and sort the account out.

Tell them that you have to pay your staff and suppliers otherwise they will have to eat at barclays expenses.

If you're lucky and the manager takes ownership, it will be sorted.

This is a clear error, so should be rectified immediately.

[BankFodder]

d?

 

(Also just to clarify to some of the posters in this thread: As Action Fraud has correctly explained to the OP, essentially CIFAS only maintains a database of fraudsters/suspected fraud)

The bank will disregard all rules and will be supported by the FOS - and frankly I think that Action Fraud are probably wrong. Sorry.

 

Go to a large branch and command to see a manager.

Do not go away until they speak to you in person and sort the account out.

Tell them that you have to pay your staff and suppliers otherwise they will have to eat at barclays expenses.

If you're lucky and the manager takes ownership, it will be sorted.

This is a clear error, so should be rectified immediately.

... and don't hold your breath.

[slick132]

Regarding King's post above, the reality is that Bank "Managers" are no longer able to make decisions with any degree of autonomy. I doubt the branch will be of any help at all and will say it's out of their hands.

 

However, if you have a contact at the branch who knows you well enough, it may be worth having a quiet word, to see if they can offer any info.

 

[callumhburgess]

Thank you informative responces,

 

Regarding the 3.5 million I'm almost confident it is a technical error, the banks supposidely with draw £200 whilst a review is being taken out and then credit the amount back, in some instacnes the whole money from the account is withdrawn and in very very rare cases the account looks to be excessively overdrawn.

 

The main concern is how long the checks are taking, now 10 days after making a complaint I am yet to recieve so much as a letter or phone call from Barclays giving me an indication of whats happened.

[Klandestine]

The Barclays office at Westwood Business Park in Coventry is home to their Financial Crime Operations.

 

It is important to understand that the money is most likely being held because anti-money laundering & terrorism financing checks by the National Crime Agency (NCA) and NOT Barclays.

 

Under Part 7 of the Proceeds of Crime Act (POCA), any transactions on the account/accounts in question cannot take place without the consent of the NCA.

The NCA has 7 working days to reach a decision or if the bank hears nothing after 7 working days everything can continue as normal.

 

Of course, the bank is also not allowed to communicate any of this to you.

 

You're going to have to stick it out I'm afraid.

 

The bank will disregard all rules and will be supported by the FOS - and frankly I think that Action Fraud are probably wrong. Sorry.

 

The bank are actually complying with the law and rules here.

 

I'm confused, earlier on you were the one suggesting to the OP to report this to the FOS?

Also - just so that you are aware - you need to wait for a response from the bank before you can ask the FOS to look at a complaint. Just for your reference, I think their website clearly explains this: http://www.financial-ombudsman.org.uk/consumer/complaints.htm

 

Action Fraud are DEFINITELY correct. On what basis do you disagree? Can I suggest that you perform a simple Google search about CIFAS first of all.