Barclays have closed my account

[nice1234]

Hi Experts, Please advise on the matter.

 

Barclays have closed my current account without giving any reason.

 

I was holding the account since 2008 and it was in satisfactory condition,

never used any overdraft, always in credit.

Also have barclay credit card.

I was not using current account on regular basis as it wasn't my main account.

 

 

2 weeks ago I sold my cars due to investing money somewhere and given my barclay account to the car dealer to transfer money in to my barclays account.

 

 

Money got transferred and barclays fraud team have restricted my account as well as funds,

then they have verified from the dealer and confirmed that money was legitimate and released all funds and account was back as normal.

 

 

After few days I have received a text message that my card is temporarily deactivated to prevent any fraudulent activity.

I called as well as visited the branch and they told me that account is under review and it should be fine in few days.

After few days I called the bank and they told me my account is closed with immediate effect due to section 15 in terms and conditions.

 

I have got few questions that I need some advice on.

 

1. I am thinking about writing a letter/formal complain to CEO and ask for an explanation for the closure and mentioning BCOBS in it. Is it going to be of any help?

 

2. Would this account closure effect my barclay credit card (seems fine at this moment of time).

 

3. Would this account closure effect my other than barclays bank accounts, mortgage accounts, loan/credit accounts and other bank's business accounts, etc.

 

4. Would this account closure effect my credit score (which is excellent at this moment of time).

 

5. All closed bank account marked as settled in credit file, Would this be marked as settled or something else/negative due to bank closing my account.

 

Any advice will be much appreciated.

 

Thanks

[dx100uk]

we quite often see this with Barclays

 

 

you need to contact the fraud/money laundering team and ask what isgoing on

 

 

sadly Barclays are very quick to act on these things.

 

 

if they suspect the above.

 

 

dx

[dx100uk]

https://cse.google.co.uk/cse?cx=partner-pub-8889411648654839:6449422593&ie=UTF-8&q=Barclays+have+closed+my+account&sa=Search+CAG#gsc.tab=0&gsc.q=Barclays%20have%20closed%20my%20account&gsc.page=1

[nice1234]

we quite often see this with Barclays

 

 

you need to contact the fraud/money laundering team and ask what isgoing on

 

 

sadly Barclays are very quick to act on these things.

 

 

if they suspect the above.

 

 

dx

 

Thanks for your reply.

 

I have spoken to fraud team and they are not ready to give any reason. And If they suspect anything then should ask me to provide them with documents to prove it legitimate. They have verified the funds themselves that is why they have released them.

 

Anyways

 

What do you think about the questions I have asked. Would you suggest anything on them?

Edited October 5, 2016 by nice1234

[fkofilee]

Complain to them, while 95% of the time they wont tell you or do anything, They will prevent 5% of the time.

 

Complain to [email protected] & [email protected]

 

If there is genuinely nothing wrong and it was all verified then Id complain because they maybe able to step in and stop the closure.

Also check your CRA for a Fraud Flag

[nice1234]

Complain to them, while 95% of the time they wont tell you or do anything, They will prevent 5% of the time.

 

 

If there is genuinely nothing wrong and it was all verified then Id complain because they maybe able to step in and stop the closure.

Also check your CRA for a Fraud Flag

 

Thanks for ur reply

 

Shall I send the complaint via post or email would be enough?

[fkofilee]

Email

[nice1234]

Email

 

Thanks again

Do you by any chance have any complaint templete which would move things at their end?

[nice1234]

I have spoken to CRA and they say as long as you dont have any late payments or defaults or frauds on the account It wont leave any negetive mark on your file if account gets closed regardless of you are closing it or bank.

 

Can anybody comment on the above please?

 

I hope barclays has just closed the account without marking anything negative on it as there is nothing negative anyways and I know that for a fact. Please comment if I am wrong anywhere or there is anything I am missing.

 

All replies will be much appreciated. Thanks

[slick132]

Hi Nice,

 

You need to monitor your CRA record over the next few months and watch out for any CIFAS marker.

 

There's no template - just make a brief and factual complaint about their treatment of you. Post a draft here first if you want it checked.

 

1. How often were you using the B's a/c roughly.

 

2. Approx what balance would there be on the a/c from month to month.

[nice1234]

Yes I will keep an eye on my credit file.

 

I have spoken FOS and they said it is in bank's terms and conditions that they can close the account

but if they leave any negative markers on your credit file or on CIFAS unfairly,

then we can investigate and if its unfair then we ask them to remove it.

 

I was not using the Barclays account very often as it was not my main account.

 

In last 1 year or more balance was more than £400 and in last over 4 months balance was over £5k aprox.

[slick132]

Hi Nice,

 

The FOS have told you correctly.

 

If there was only a small balance for a year or more and then larger amounts start going in or out of the a/c, this may have triggered Money Laundering flags that obligate the bank to report and investigate.

 

In your first post you said, "2 weeks ago I sold my cars due to investing money somewhere and given my barclay account to the car dealer to transfer money in to my barclays account."

 

In your post above, you refer to over £5K being in the a/c over the last 4 months after just £400 being in it for the previous 8 months.

 

If large amounts of money were being moved, maybe cash, maybe money from abroad, this may be a "trigger". Also when you refer to "investing money somewhere", if that was not with a recognised bank, building society, investment broker, etc, this may also trigger investigation.

 

If you think you've been treated unfairly, complain in writing as suggested.

 

[nice1234]

More than 5k was sitting in the account for more than 4 months

2 weeks ago more payment went in due cars sale and car dealer was having a barclays account so i thought (I came to know later that its not the case) that it would be a quick transfer if I take money into my barclays account.

 

Then barclays fraud team have confirmed from the dealer as well that if money came from his barclays account is authorised and ligit and he confirmed it, and then they released my money after satisfying their procedures.

 

 

I was happy with it that they are making sure everything is ligit, they asked me to pop into the branch with IDs and all went fine afterwards.

 

I have proof of every single penny going into/out of my account since I started the account that it is ligit and had nothing got to do with any laundring or fraud etc.

 

 

I never received or sent any money from/to abroad. All transactions are from and to main high street banks. And main payments are even from within barclays.

 

They should have asked me to prove it with documentation etc and if I am unable to do so then they have every right to suspect.

But how come they can take one sided decision only on assumptions and treat me like a criminal and (GOD FORBID) leaving a negative mark on my credit and CIFAS (I hope they wont do it) to ruin my credit history/life.

 

Would a complaint to CEO be of any help or would be a waste of time, if yes then email would be enough or written letter would be good??

Edited October 6, 2016 by nice1234

[Guest]

........leaving a negative mark on my credit and CIFAS (I hope they wont do it) to ruin my credit history/life.

as per yr post #11 re yr disco with the fos re negative markers. if you get any negative markers then go back to the fos re.

cld make a general complaint anyway to them, and then the fos, if you think that wld be appropriate.

[slick132]

Hi Nice,

 

Unfortunately, the banks do not work in the way we'd expect, or like. Worse still, they are able to make unilateral decisions as per their T&C's and also due to the Anti Money Laundering Regs.

 

Can you confirm how long you've been a Barclays customer as this may have a bearing on how you challenge their decision to close your a/c.

 

[nice1234]

Hi Nice,

 

Unfortunately, the banks do not work in the way we'd expect, or like. Worse still, they are able to make unilateral decisions as per their T&C's and also due to the Anti Money Laundering Regs.

 

Can you confirm how long you've been a Barclays customer as this may have a bearing on how you challenge their decision to close your a/c.

 

 

I have been a customer for good 8 years.

 

I dont mind them closing my account as i was not using it frequently and was thinking to close it anyways but didn't bother.

 

My concern is Barclays leaving a negative impact on my credit file which will may impact on my existing accounts as well as any future dealings with lenders.

 

As long as they close my account without leaving a negative mark, I am fine with it.

[slick132]

Ok, you just need to keep an eye on your CRA for a CIFAS marker.

 

Keep us posted as necessary.

 

Edited October 8, 2016 by slick132
2nd CRA changed to CIFAS as intended

[fkofilee]

Following on from Slick... Have a look at Noddle Mainly & Clearscore and keep an eye under the CIFAS headings.

If you see anything, come straight back here.

[slick132]

Thanks FKO,

 

My post above corrected - 2nd "CRA" changed to CIFAS which is what I meant.

 

[nice1234]

Thanks FKO,

 

My post above corrected - 2nd "CRA" changed to CIFAS which is what I meant.

 

 

Is equifax any good?

 

Are CIFAS markers getting updated on equifax or do I need to get CIFAS membership to keep an eye?

[slick132]

I can only comment on what I use which is the free Noddle service. This includes a check for any CIFAS that show against your address.

 

But I'm sure all the CRA's, including Equifax, will show CIFAS markers that show up.

 

Edited October 8, 2016 by slick132

[martin2006]

Clearscore also show CIFAS markers, experian as far as im aware dont have a free online system to sign up to, they just have a credit score service for free

[fkofilee]

Why not sign up for Experian and check?

 

https://www.creditexpert.co.uk/

 

But remember to cancel before 30 days. Will give you a snapshot of all 3 CRAs if all 3 signed up to.

Keep Noddle And Clearscore for what they offer... Or Request a Statutory Report for £2 from Experian

[nice1234]

I am on equifax and nothing negative is been reported as of yet by CIFAS or barclays. Its takes 4-6 weeks any ways for CRAs to get update from lenders. So I think if there is anything then it will show up by next month sometime.

[nice1234]

Hi everybody

 

Are BCOBS regulations still in place?

 

Thanks