Rant: Barclays' fraud protection

[Deleted User]

I'm probably alone in this rant, but I don't see why Barclays take such over-the-top measures to protect against fraud when I'm transferring money between my bank accounts.

I need to pay off one of my loans in full, but first I had to transfer some money between my Barclays, Abbey and First Direct accounts. The sums involved were significant: several thousand pounds, but the transfers between Abbey and First Direct were processed immediately, and went through fine.

But when I transfer the money 'immediately' from Barclays I get the message saying that they want to conduct some checks against fraud and so my transfer isn't going to go through for another 3 days.

It's fine to be cautious and I'd rather they err on the side of waryness, but now I can't pay off my loan for a further three days. All of the other banks' transfers went through fine, but this seems to be a repeated occurrence from Barclays.

I phoned up the fraud team to say that this is a genuine transaction and can they allow it, but was told I still need to wait. Why are Barclays so sensitive to customers making transfers?

Proc

Because when they don't run checks, and they just transfer cash willy-nilly, a fraud victim will be posting here saying "omg Barlcays transfered £10,000 out off my account without even running fraud checks!"

You should have transfered it sooner and not waited until the last minute.

[Deleted User]

I didn't wait until the last minute. I transferred it as soon as it cleared.

Everyone else transfers cash willy-nilly. All my other transfers from other banks went through immediately. Why does it take Barclays 3 days to conduct their checks? Why not 1 day?

RadoJo

My guess would be that although the money is showing as coming out of your account instantly, the transfers to the other banks have not actually been completed 'instantly' and the money won't have been cleared into the other accounts any quicker than the money moving between your Barclays accounts.
If you want an instant transfer, you can do it, but it costs around £20 (from what I recall). If you need money transferred quickly, it's probably worth investigating the methods available beforehand.

Storck

Different banks have different limits on what can be transferred using the Faster Payment Scheme, ie immediate transfers, once you pass that level it returns back to the old system which takes 3 days. They will not be doing any checks it is just their systems will not allow the amount you want to transfer to be done via the new system.

[Deleted User]

I can assure you that this is a fraud measure - I've just spoken to them. A transfer between Barclays and First Direct is instantaneous under the Faster Payment Scheme, but Barclays blocked it because it was a 'suspiciously large amount' (says a lot about how low my usual income is!) and because I was transferring out to a different bank.

In the end it was all sorted as I cancelled the transfer, so no harm done. Rant over.

Mr_Lahey

Ill join this rant actually.

I have a Barclaycard and i travel abroad quite a lot. Every time i travel i advise Barclaycard where i am going and for how long. Every single time my card still gets blocked.
I know its only a quick phone call to get it sorted but it is really a pain.

Stephb1986_2

Be glad they do it I was away for a few days in december when I returned there was an answerphone message from barclaycard fraud team so I called them back and someone had only tried to buy a £500 Louis Vuitton handbag and they stopped it my credit card had been cloned. I had only ever used it 3 times!

So be glad in a way that they are so cautious with your money.

Steph xx

jamming

Lucky for you Barclays done checks. £6000 over the counter, £9,800 in a store and 3x£300 ATm, which Barclays did not check. I have been held responsible even though the police are still investigating. Now received letter all my accounts will be closed within 14 days, even accounts where I am just next of kin. This is going on since October 09, so please count yourselves LUCKY

Butterfly_Brain

I had problems after being scammed and I can't praise Barclays high enough for their help - I am glad that they make such checks

jamming

Called Barclays today who claims final response sent 10th May 2010 which I have not received, they are still holding ,e rsponsible for the transactions. What can i DO?