Barclays closed acc without explanation

David-T-Rex

I have been trying to move from Thinkmoney to Barclays
Had the account open for a few weeks and received notification that the card is suspended. Went into the branch today to be told the account is being closed immediately.

I am due to be paid in 2 days time and closed my old account (as I thought it was all going well)
I am now trying to get some sort of account for pay and to pay bills.

Is there any reason why this would happen? I have been with TM for years and moved as I have just pretty much cleared all my debt and I am really worried this is going to impact my credit file.

diamonds

A online TSB application gives a sort code and account number on application, it used to as part of Lloyds Banking Group.


Barclays ,maybe didnt like the TM usage, found old info of a negative nature etc etc you may never know...their loss, move on firstly with a new account and deal with a complaint about Barclays later.


Basic account may help http://www.moneysavingexpert.com/banking/basic-bank-accounts


Virgin Money if you have a branch near



TSB gave me a Plus account with no credit file. I had returned from abroad with no credit file & then claimed DWP benefits for a few years with a DWP Post Office Account Card. Accepted for a Plus account and I had no long term employment nor credit file.

David-T-Rex

Tried to open a basic account with the TSB and they said
"We're processing your application" - hopefully I hear back. Been on to work and asking them to hold the BACS payment. (all while trying to work as well)

grumbler

Remind Barclays about their T&C:

We can close an account (and stop providing services and end this agreement) by giving you at least two months’ notice in writing.

They failed on two counts: notice and in writing.
They can close account immediately, but only in exceptional circumstances:

• you put us in a position where we might break
a law, regulation, code or other duty that applies
to us if we maintain your account
• you give us any false information at any time
• you commit (or attempt) fraud against us
or someone else
• you use (or allow someone else to use) your
account illegally or for criminal activity (including
receiving proceeds of crime into your account)
• you inappropriately let someone else use
your account
• you behave in a threatening or abusive manner
to our staff.

Terms and conditions for Personal customers

David-T-Rex

I will be writing a letter - Once I get it all sorted.
The fact they wont give me any information is really frustrating.

System

I'd suggest opening a savings account (with an ATM card) to ensure you can get your salary/wages ASAP. This won't involve any credit check so should be easier to open.

TSB offer an Easy Saver that would do the job but similar accounts are available elsewhere.

David-T-Rex

Will see what the TSB say about the basic account - if not I will go back to thinkmoney or another like it and pay the monthly fee.

I am fuming that I thought I was getting myself sorted.

20aday

OP have you considered Nationwide's FlexBasic account at all?

Is a basic account and there's no monthly fee.

Ed-1

David-T-Rex wrote: »

I have been trying to move from Thinkmoney to Barclays
Had the account open for a few weeks and received notification that the card is suspended. Went into the branch today to be told the account is being closed immediately.

I am due to be paid in 2 days time and closed my old account (as I thought it was all going well)
I am now trying to get some sort of account for pay and to pay bills.

Is there any reason why this would happen? I have been with TM for years and moved as I have just pretty much cleared all my debt and I am really worried this is going to impact my credit file.

An immediate post-application closure (i.e. the closure occurs long after the application is completely approved) is invariably down to a fraud event either on or linked with the account (such as paying in a foreign cheque which the bank has suspicions about or giving false information etc.).

See the following:

http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/12039897/I-paid-a-US-cheque-into-my-Barclays-account-and-became-unbankable.html

https://forums.moneysavingexpert.com/discussion/3634897

An immediate post-app closure decision by a bank (as opposed to a 2 month notice closure) is a real cause for concern as your details may be loaded onto the CIFAS database which (depending on the category of fraud) could make it impossible to open an account anywhere else.

If you have any problems with subsequent applications, immediately send a subject access request (which costs £10) to CIFAS (and you could send one to Barclays too) to try and get to the bottom of why they've closed the account.

David-T-Rex

That's what is terrifying me. All I did was open an account plus a savings account.

If I get refused the TSB account can I go back to ThinkMoney style account or will this stop me from doing that?

What happens if they accept the bacs transfer from work on .Thursday How do I get my money.

David-T-Rex

Just to add to this. I have had a direct debit taken from the account today so it seems like they are still making payments. The savings account (an isa) is gone and it'sbeen transferred to my main account.