Barclays have just frozen my account

charlybarly

Just spent 30 minutes trying to get some sense from Barclays helpline - I tried to log in to my current account on my iPad this afternoon and it wouldn't let me.
Eventually after two long phone calls they told me my account was "under review" and I would get a letter in 3/4 days! He said he couldn't discuss it on the phone.
I was made to feel like a criminal.
I am shaking, scared witless, I have a lot of money in my account and run a business, if access to my account and my funds lasts more than a couple of days it could lead to problems.
How can they do this? Anyone else had this?

Jim_Rockford

Is it a personal or a business account?
If it's a personal account, have you been using it for business transactions?

Have you been buying and selling bitcoins?

charlybarly

It's a personal account, I have been self employed for eight years, had the account since 1999. I have never touched bitcoins.

masonic

Are you using your personal account for business? Do your banking T&Cs permit this?

Without knowing any more, I'd suggest you open another bank account elsewhere ASAP if you don't already have another. Nobody should have just one account in my view.

charlybarly

Well, I use it for business in the sense that I am self employed and my income comes into that account from a variety of sources, mainly from Paypal. They have had no problem with this arrangement for eight years. I will certainly ditch Barclays after this no matter how quickly it is resolved as I have lost faith in them.

masonic

Similar story: http://www.telegraph.co.uk/money/consumer-affairs/barclays-shut-my-accounts-and-told-me-to-go---no-explanation/

charlybarly

Yeah, thanks for the suggestions/links, appreciated.
I am googling the heck out of this, I am not alone it appears.
Have bookmarked the Financial Ombudsman but it appears they will only step in further down the line.
Next step for me is to visit my local B&M branch on Monday morning, the aim at the very least is to withdraw some cash as I need to fill the car etc.

Jim_Rockford

It's possible Barclays may think you're using a personal account for business reasons (breaching their terms and conditions) and they may close your account. Choose a different bank and open a business account for your self employed business transactions. Open a personal account for your personal spending (rent/mortgage, energy, food etc.).

charlybarly

That's fair enough, if that's the reason, why can't they TELL me? It's not knowing that's freaking me out.
One thing that I find odd is when I was hanging on earlier, pressing buttons on the phone for various options, an automated voice gave me an account balance, and the total they gave me was about £2000 more than I had in the account.

jonesMUFCforever

charlybarly wrote: »

Yeah, thanks for the suggestions/links, appreciated.
I am googling the heck out of this, I am not alone it appears.
Have bookmarked the Financial Ombudsman but it appears they will only step in further down the line.
Next step for me is to visit my local B&M branch on Monday morning, the aim at the very least is to withdraw some cash as I need to fill the car etc.

Why would B&M give you cash? Thought the bank was Barclays?

If the account is frozen then it is frozen - the branch won't be able to overrule this and give you cash.

What is/has the turnover of the account been for the last 6 months?

I would be opening anew bank account on Monday and hoping that the worst case scenario with Barclays is that they just close your account without adding any CIFAS markers.
(Only you know if there has been any suspicious entries on the account)

charlybarly

B&M = bricks and Mortar, shorthand for a real branch.

Turnover for the last six months about £50k