Barclays closed my account days after opening

mclovin1991

Hi there,

I recently opened a bank account with Barclays (primarily to use to switch to take advantage of switching bonuses)

Barclays have closed my account 5 days after opening without notice citing Section 11, page 30 of the Retail Customer Agreement.

Whilst it is not a big loss, given I already have a current account, I am now concerned there is a reason for this.

I have checked my credit records (with all three agencies) and can't see any issues.

Has this happened to anyone else before and does anyone know of anything else I should be checking on? From reading the referenced section of the agreement I'm concerned they suspect me of fraud but can't think of any logical reason why.

Thanks,

jonesMUFCforever

Did you check if there is any CIFAS marker on your credit files?

jonnygee2

It sounds like you have been flagged for potential financial crime. Unfortunately for you it would be illegal for them or any other institution to give you any more information, and unsurprisingly the inner workings of a banks financial crime team are pretty secretive, so you will never find out. Your credit file and no other document accessible to you would hold information about this.

Examples of things that might get an account closed;

- Sending or recieving money to suspect accounts
- Using it as a business account
- Cryptocurrency trading
- Excessive gambling
- Using lots of fuel pumps
- Many more things tbh

agrinnall

mclovin1991 wrote: »

Barclays have closed my account 5 days after opening without notice citing Section 11, page 30 of the Retail Customer Agreement.

So what does this actually say? We're just guessing unless we take the trouble to look it up, and if you can't be bothered to post the wording I'm not sure why we should waste our time searching for it.

mclovin1991

It was more trying to keep the post concise but here we go:

"When we can close an account or end a service
9.4 We can close an account (and stop providing any services and end this agreement) by giving you at least two months’ notice. Any benefit or services linked to your account will stop at the same time.
9.5 However, we may end this agreement immediately or on less notice (and stop providing services and close your account) if we reasonably believe you have seriously or persistently broken any terms of the agreement, or any other agreement you have with us, or we have reasonable grounds for thinking you have done any of the following things, which you must not do:

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 put us in a position where we reasonably believe that
maintaining your account might expose us or another Barclays company to action or censure from any government, regulator or law enforcement agency, or damage our reputation
• 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
• If you are a company and all your directors have been or could be disqualified under UK law.
9.6 We may also end this agreement (or stop providing services or close your accounts) immediately if we reasonably believe that you are or someone connected to you is, or is likely to be, unable to pay debts when they become due. We can also do this if:
• you or a third party have taken any steps to wind up your
business, put it into administration or any other insolvency
process
• you enter into any voluntary arrangement with any of your
creditors
• you enter into any agreement with any of your creditors to defer
or reduce the amounts due and payable to them
• anyone tries to enforce security granted by you
• any of your creditors commences a legal process to enforce
sums owed by you
• any of your director(s) have been disqualified, or
• something has happened that means a court could decide to
disqualify them."

[Deleted User]

Looking at previous posts - were you using the account for betting transactions?

mclovin1991

I can see why you're asking but I actually hadn't even had chance to activate the card to log on to online banking. Closure letter came in almost simultaneously with the rest of the account opening letters.

In response to a previous post I also have no CIFAS (at least from what I can see on my credit report).

Ed-1

!!! wrote: »

Looking at previous posts - were you using the account for betting transactions?

mclovin1991 wrote: »

I can see why you're asking but I actually hadn't even had chance to activate the card to log on to online banking. Closure letter came in almost simultaneously with the rest of the account opening letters.

In response to a previous post I also have no CIFAS (at least from what I can see on my credit report).

Sounds like it was a late application decline rather than anything to do with account usage.

Check for any unrecorded enquiries from Barclays on Experian, subject access request National Hunter and CIFAS.

john1002

Just for info, fraud CIFAS won’t show up on your credit report you need to do a SAR as advised the above post.

John

mclovin1991

Ed-1 wrote: »

Sounds like it was a late application decline rather than anything to do with account usage.

Check for any unrecorded enquiries from Barclays on Experian, subject access request National Hunter and CIFAS.

Looking into National Hunter I suspect this may be the reason. Thanks for the help.