Bank Account cancelled and bank holding my funds

DavidCaballero

Hi everyone,

I am new to the forum. I came here looking for advice for my current situation. 

I have a Premier account at Barclays. Last week, Barclays froze my account. After a transfer was made they were considered suspicious. I have proof of the source of the funds and provided to them. Yesterday, after trying to obtain information by phone for several days I went to the branch and they told me the account is going to be cancelled. They declined to give me my money saying that might take up to 15 working dates. The 30th of January. I have been left with no bank account and no money. What could I do?

Thanks

David

Brie

Complain to them saying you have been financially inconvenienced by their actions.

eskbanker

What was the source of the funds and why do you think they'd be suspicious?

It would probably be worth checking whether Barclays have added a CIFAS marker, which would prevent you from obtaining an account at another bank, which is obviously something that you'll need to do now:

https://www.cifas.org.uk/dsar

grumbler

DavidCaballero said:

 The 30th of January. I have been left with no bank account and no money. 

When this is over, get accounts with at least two banks and have some money in both.

Brie said:

Complain to them saying you have been financially inconvenienced by their actions.

"Inconvenienced" is a far too mild word in this situation.

Hoenir

DavidCaballero said:

I have proof of the source of the funds and provided to them. 

What;s the nature of the "source" ?  Likely to be where the issue is. 

eskbanker

grumbler said:

Brie said:

Complain to them saying you have been financially inconvenienced by their actions.

"Inconvenienced" is a far too mild word in this situation.

And complaining to the bank about 'inconvenience' will just lead to shrugged shoulders anyway - my understanding is that it's only if the account holder demonstrably needs the money to buy food, etc, (i.e. hardship) that the bank is required to release some or all of the most recent salary/benefits payment.

dealyboy

Sorry to read this David.

I think the first priority must be to secure facilities with another bank or building society. When this has happened to others, people have recommended a new style bank such as Starling or Monzo rather than one of the traditional high street banks.

I hope you have a credit card you can use in an emergency such as this.

As others have said you are in the hands of Barclays until they conclude their fraud or anti money laundering investigations, but you should be able to access your pay for essentials.

Precautions for the future can be taken and the reasons for this action understood when you have secured your assets. You are new to our forum David but rest assured there are many people here qualified to make constructive comments through experience of many similar cases. 

penners324

Get a new bank account opened ASAP. A couple of options are above

GTR_King

Barclays didn't like the source of the money E.G fraudulent or business money etc! 

Prove to them that money is not dodgy or used for business purposes & you will be fine!

check for CIFAS to see if there any makers!

No point opening new bank account if CIFAS maker is on your File! If all clean open one ASAP

eskbanker

GTR_King said:

Barclays didn't like the source of the money E.G fraudulent or business money etc! 

Prove to them that money is not dodgy or used for business purposes & you will be fine!

Seemingly not, that ship has already sailed:

DavidCaballero said:

I have proof of the source of the funds and provided to them. Yesterday, after trying to obtain information by phone for several days I went to the branch and they told me the account is going to be cancelled.

GTR_King

if the ship has sailed then looks like Barclays didn't like the source of funds, nothing you can do, you could try complain and go to the FCA But not sure they will do much