Barclays balance to Reconcile can't access Money.

[CardSrong212]

Barclays have frozen all of my funds and put my accounts to negative 500,000. The funds I did have were sent ‘to reconcile’ with the description as rtb cust rel adv. Anyone had anything happen to them or any idea? I have made a complaint which they suggested but they've told me to wait. How long will it take to get my funds back?

 

[dx100uk]

you must be moving large sums of money in/out of your A/C p'haps in or out of the country too?

 

and you've alerted the money laundering flag.

 

nothing you can do really bar wait a week or two sadly

 

there are numerous threads here of barclays doing this:

 

 

 

 

 

 

 

[CardSrong212]

Ive been transferring around 3k ish to my account and to a payees account thats been a payee for 5 years+. The exact same amount of money gets sent back. All inside the UK. Will i get the money back? is it just a waiting game?

[honeybee13]

If you look at previous threads here about Barclays freezing accounts in the links dx posted, people have got the money back.

 

Barclays are particularly sensitive to money movements that raise suspicion and I think the same amount of money moving backwards and forwards regularly would do that. Is there a reason for this?

 

HB

[CardSrong212]

I understand it does probably look a bit weird to Barclays transferring this amount back and forth.

 

Barclays have said it can take up to 40 days for the investigation. I’m hoping I don’t have to wait this long due the the vast majority of my funds being in my Barclays account.

 

After this investigation I am moving away from Barclays. 

 

Do we know if the one from March 2022 got their money back?

[dx100uk]

in all the threads here resolved or otherwise (just got help then ran away not telling us) no-one has ever comeback to say they are still awaiting the unblocking of their access.

 

it just takes a few weeks to resolve itself. 

dx

 

[CardSrong212]

The one from March 1st didn’t update - they could still not have the money. 
 

im hoping I actually get the money back at the end of this. Is it possible that they don’t give it back?

[honeybee13]

Just now, CardSrong212 said:

The one from March 1st didn’t update - they could still not have the money. 
 

im hoping I actually get the money back at the end of this. Is it possible that they don’t give it back?

 

Generally if people don't get a resolution, they come back here to ask more questions.

 

HB

[CardSrong212]

Is it possible they don’t give my money back? Is what they’re doing a standard procedure and they just give the money back after a few weeks every time?

[honeybee13]

Yes it's a standard procedure if you read previous threads/topics.

 

Did you have £500k in your account at one time or is that what you were transferring around during the relevant period?

 

HB

[CardSrong212]

It was a debit account. They did -8000 to reconcile. Which would take the balance to 0. They then just defaulted the accounts to -500,000 both the current and savings. 

I was transferring a few thousand probably around 20-30 times

 

At the time I had the money that they deducted. I’m not sure why they also did -500,000

[dx100uk]

reconcile simply means you at present have zero access to any of your accounts under their wing until they have finished their investigation

 

as long as you can validate this £2-3K continual bouncing around on your accounts or externally to others, if they ask you to do so, you should see it resolved in a few weeks. the quickest i've seen here is 10days.

 

not a good idea to have all your money with one financial institution .then it can't hurt you so much if it happens.

use differing providers in the future then the whole lot won't get locked up.

 

PS when did this happen?

 

dx

[CardSrong212]

Yeah the transaction says to reconcile as a debit transaction.

 

It shouldn’t raise much suspicion as the same amount of money gets sent back so there is not much different in the in/out.

 

On those other threads they didn’t ask.

 

The only other issue could be that my friend sells things on eBay for me as I don’t have an eBay account and then transfers me the money - the same payee that I’ve had for 5 years so shouldn’t be a shock

 

This happened on Thursday 

[dx100uk]

its just the luck of the draw that the automated system that flags such issues kicked in for you, esp if its something you've regularly done over a long period. not much you can do sadly but wait

 

 

[CardSrong212]

So the system is automated and I just need to wait for someone to review the account?

Should I definitely get my money back?

What are the chances I don’t get it back

[dx100uk]

your questions have already been answered here and i see you've asked the same on other forums too.

 

 

 

 

[Badtimes123]

Hi Card, sorry you are having this issue, I can imagine it is quite scary, but listen to the advice you're being given.

 

Have a read through other threads posted by dx in post #2. You've been advised you need to be patient and wait it out, use this time to browse the forum.

 

Only you know best as to whether you will get your money back, if these are all genuine transactions and you could, if required, evidence it to be so, then you will absolutely get your money back

 

Good luck, please return to the forum regardless of outcome so that we can build upon our knowledgebase

 

BT

[CardSrong212]

They are all genuine transactions I’ve made myself 

[CardSrong212]

did you ever get your money back?

[CardSrong212]

how long did it take to get the money back?

did they give it to you in cash?

[CardSrong212]

I’ve raised a complaint on the phone. Do you think I should send a letter? 

[Boogz123]

Over the phone complaint is useless I did the same they couldn’t even tell me what the issue was.

 

defo send the letter I’d say 

[comebackjimmy]

Defo send a letter recorded delivery.

 

Then you have a record which you can reproduce to regulators and the court etc.

 

Hard to produce a recording in court even if you have one.

[CardSrong212]

What sort of thing did you put on your letter?

I know you briefly mentioned earlier.

Did you send the letter to here? E14 5HP

[CardSrong212]

What are the chances that it goes to court