Both my Barclays and Santander Accounts Are Under Review

MABLE

fuming14 wrote: »

Not received anything from friend or family. I did a credit application for a loan but I didn’t follow through with it. I’m racking my brain about what could have triggered both accounts to be blocked

Perhaps the answer is with the recent credit application. You say that you did not follow through with it. Could it be the application was queried by the proposed lender and by not following up they have drawn their own conclusions and as such resulted in a CIFAS warning.

Also if the application had got that far in the processing stage is it possible you did not tell the full truth on some of the questions.

Bearing in mind both banks have suspended your accounts the only thing I can think of its due to a CIFAS marker.

fuming14

MABLE wrote: »

Perhaps the answer is with the recent credit application. You say that you did not follow through with it. Could it be the application was queried by the proposed lender and by not following up they have drawn their own conclusions and as such resulted in a CIFAS warning.

Also if the application had got that far in the processing stage is it possible you did not tell the full truth on some of the questions.

Bearing in mind both banks have suspended your accounts the only thing I can think of its due to a CIFAS marker.

I told the truth on the credit application. Amigo loans require a guarantor which I don't have and the other company has a local branch. They haven't taken any info from me except to tell me to come down to the office with my paperwork. I didn't go because of time. By the time I finish work, the office is closed. So I lt it go.

MABLE

fuming14 wrote: »

I told the truth on the credit application. Amigo loans require a guarantor which I don't have and the other company has a local branch. They haven't taken any info from me except to tell me to come down to the office with my paperwork. I didn't go because of time. By the time I finish work, the office is closed. So I lt it go.

So if that is the case then the application cannot be the issue. Surely the bank could tell you if you have a CIFAS marker. I know you have already requested the information from CIFAS but in the meantime I would press both banks again.

fuming14

Hello all. I went to both Santander and Barclays banks today. I managed to withdraw my tax credits. There was an extra amount of £35 which I transferred last Sunday from my Barclays. The rep couldn't give me more information but she asked me where did the £35 come from? I told her it's from my Barclays account. It looks like because I sent the money from Barclays Santander flagged my account and put it under review.

Then i went to barclays and the rep over there asked me if i sold anything to anyone? I told him no which is true. My current account is blocked but not my savings. He said there's not much information on the system because apparently, Barclays' higher-up people don't want bank people to really know what's going on until they complete their review. The rep said something about beneficiary fraud. I didn't realise it because I was so worried. It's only when I came back home, while going through the conversation, it hit me. What the hell is beneficiary fraud? Anyone care to enlighten me?

I feel like I've been hit by a bus.

alphabravocharli

When you transfer money, what you wrote in reference? Also did you add your other account as Payee for the first time and immediately did the transfer?

fuming14 wrote: »

Hello all. I went to both Santander and Barclays banks today. I managed to withdraw my tax credits. There was an extra amount of £35 which I transferred last Sunday from my Barclays. The rep couldn't give me more information but she asked me where did the £35 come from? I told her it's from my Barclays account. It looks like because I sent the money from Barclays Santander flagged my account and put it under review.

Then i went to barclays and the rep over there asked me if i sold anything to anyone? I told him no which is true. My current account is blocked but not my savings. He said there's not much information on the system because apparently, Barclays' higher-up people don't want bank people to really know what's going on until they complete their review. The rep said something about beneficiary fraud. I didn't realise it because I was so worried. It's only when I came back home, while going through the conversation, it hit me. What the hell is beneficiary fraud? Anyone care to enlighten me?

I feel like I've been hit by a bus.

enthusiasticsaver

Sounds pretty vague and yes I would be fuming too. Beneficiary fraud would indicate a problem with either a payment in or out of your account. I cannot see why a relatively small transfer between two high street banks should cause you this much inconvenience. When the review is finished and they give you an answer as to why both banks blocked your account I would be pushing for an apology and full explanation. I understand they will not always give reasons why fraud is flagged up and my understanding is the parameters can change but an incomplete credit application seems too vague unless the banks were under the impression someone was trying to apply for credit in your name.

NewToTheUkAgain

Are the benefits in your name? Or a partners name going to your account?

fuming14

alphabravocharli wrote: »

When you transfer money, what you wrote in reference? Also did you add your other account as Payee for the first time and immediately did the transfer?

It's not the first time I'm transferring money from my Barclays to my Santander. The reference is my initials followed by red (for santander). I'm thinking Santander blocked me because the money is from barclays who has maybe flagged my account by that time.

fuming14

enthusiasticsaver wrote: »

Sounds pretty vague and yes I would be fuming too. Beneficiary fraud would indicate a problem with either a payment in or out of your account. I cannot see why a relatively small transfer between two high street banks should cause you this much inconvenience. When the review is finished and they give you an answer as to why both banks blocked your account I would be pushing for an apology and full explanation. I understand they will not always give reasons why fraud is flagged up and my understanding is the parameters can change but an incomplete credit application seems too vague unless the banks were under the impression someone was trying to apply for credit in your name.

Vague is the right word. I don't understand why they don't tell you the issue since it's my freaking accounts. It's very frustrating. I've lost all my trust in banks.

NewToTheUkAgain

You should try to open a new temporary account, maybe with Monzo or Starling. If they won’t open the accounts that would be concerning.

Best of luck getting the money, they really shouldn’t be doing this to you based on what you have said.