Barclays Account Closed.

fuzzylogic82

I have found out today Barclays have closed my account. All it states in the letter I have recieved from them is that it is was as a result of a review and in line with my terms and conditions. I am not worried that my other accounts with other banks will close when I have done nothing wrong. What could have lead to the bank closing my account, will I ever find out? I have done a GDPR to them and to CIFA. What have I done wrong? 

fuzzylogic82

Apologies for poor english, i am stressed and worried. I only used the account for wages and direct debits and for everyday spend I transferred the remaining money to the chase. I have used my barclays account to credit trading 212 to buy shares is this against terms and conditions?

SiliconChip

fuzzylogic82 said:

Apologies for poor english, i am stressed and worried. I only used the account for wages and direct debits and for everyday spend I transferred the remaining money to the chase. I have used my barclays account to credit trading 212 to buy shares is this against terms and conditions?

Without knowing which account you have it's difficult to be sure that everything you're doing is within the T&Cs, but I wouldn't have thought the things you mention are unusual, so it's probably something else that has led them to decide to close it. You may well never know why.

Hoenir

Was this the first letter you've received ? 

fuzzylogic82

It is my current account they have closed. I attempted to access the app on Friday and it wouldnt let me in. I then phoned them and they said I needed to wait for a letter. I went into my branch today so I didnt have to wait and the letter just said we have closed your account as a result of a recent review and in line with your terms and conditions. Yes the letter is the only letter I have had. Yet my credit card with them is still accessible, due to different terms and conditions I suspect?

fuzzylogic82

SiliconChip said:

fuzzylogic82 said:

Apologies for poor english, i am stressed and worried. I only used the account for wages and direct debits and for everyday spend I transferred the remaining money to the chase. I have used my barclays account to credit trading 212 to buy shares is this against terms and conditions?

Without knowing which account you have it's difficult to be sure that everything you're doing is within the T&Cs, but I wouldn't have thought the things you mention are unusual, so it's probably something else that has led them to decide to close it. You may well never know why.

It is a personal account

grumpy_codger

fuzzylogic82 said:

I have found out today Barclays have closed my account. All it states in the letter I have recieved from them is that it is was as a result of a review and in line with my terms and conditions. I am not worried that my other accounts with other banks will close when I have done nothing wrong.

In the country we live in you should. The fact that the account was closed without "giving you at least 90 days’ notice" means that they think that "you have done any of the following things, all of which this agreement prohibits.
• 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, or keeping your account open exposes us to action or censure from any government, regulator, or law enforcement agency.
• You give us any false information.

• You commit (or attempt) fraud against us or someone else. 

• You use or try to use your account illegally or for criminal activity, including receiving proceeds of crime into your account – or you let someone else do this."

So, they suspect that you either lied to them or were involved in some illegal/criminal activities or fraud. And as the principle "innocent until proven guilty" doesn't exist in financial industries, they can easily add their suspicions to CIFAS et.al. that all other financial institutions check on a regular basis.

https://www.barclays.co.uk/content/dam/documents/personal/site-hygiene/BAR_9910542_UK 10.18.pdf

Bridlington1

fuzzylogic82 said:

It is my current account they have closed. I attempted to access the app on Friday and it wouldn't let me in. I then phoned them and they said I needed to wait for a letter. I went into my branch today so I didn't have to wait and the letter just said we have closed your account as a result of a recent review and in line with your terms and conditions. Yes the letter is the only letter I have had. Yet my credit card with them is still accessible, due to different terms and conditions I suspect?

Firstly sorry to hear about your accounts being closed. I know from experience it's not the most pleasant thing to happen to you.

How long have you had your accounts for? What exactly was your account activity in the run up to the closures and have you interacted with Barclays at all recently (i.e. phoning them, visiting branch etc)? The more info you can provide the easier it'll be for us to advise.

If it's any use to you I too had my Barclays accounts closed without notice back in 2022 within a month of opening the accounts, I never found out precisely why in the end. In my case they incorrectly marked my account as having been defaulted. After complaining and then going to the FOS I got them to remove the default and received £100 as an apology for the ``abrupt closure of my accounts". See thread below for full details:

https://forums.moneysavingexpert.com/discussion/6448593/how-to-remove-an-incorrect-default-from-credit-reports/p1

fuzzylogic82

grumpy_codger said:

fuzzylogic82 said:

I have found out today Barclays have closed my account. All it states in the letter I have recieved from them is that it is was as a result of a review and in line with my terms and conditions. I am not worried that my other accounts with other banks will close when I have done nothing wrong.

In the country we live in you should. The fact that the account was closed without "giving you at least 90 days’ notice" means that they think that "you have done any of the following things, all of which this agreement prohibits.
• 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, or keeping your account open exposes us to action or censure from any government, regulator, or law enforcement agency.
• You give us any false information.

• You commit (or attempt) fraud against us or someone else. 

• You use or try to use your account illegally or for criminal activity, including receiving proceeds of crime into your account – or you let someone else do this."

So, they suspect that you either lied to them or were involved in some illegal/criminal activities or fraud. And as the principle "innocent until proven guilty" doesn't exist in financial industries, they can easily add their suspicions to CIFAS et.al. that all other financial institutions check on a regular basis.

https://www.barclays.co.uk/content/dam/documents/personal/site-hygiene/BAR_9910542_UK 10.18.pdf

Hello my comment should read I am worried for the reasons you mentioned above. I have requested a gdpr from them to try to find out why. I have done the same with cifa to see if I have one however I am not sure it will declare to me all the markers, just the ones against me eg identify fraud not ones they wrongly believe I have done?

fuzzylogic82

Bridlington1 said:

fuzzylogic82 said:

It is my current account they have closed. I attempted to access the app on Friday and it wouldn't let me in. I then phoned them and they said I needed to wait for a letter. I went into my branch today so I didn't have to wait and the letter just said we have closed your account as a result of a recent review and in line with your terms and conditions. Yes the letter is the only letter I have had. Yet my credit card with them is still accessible, due to different terms and conditions I suspect?

Firstly sorry to hear about your accounts being closed. I know from experience it's not the most pleasant thing to happen to you.

How long have you had your accounts for? What exactly was your account activity in the run up to the closures and have you interacted with Barclays at all recently (i.e. phoning them, visiting branch etc)? The more info you can provide the easier it'll be for us to advise.

If it's any use to you I too had my Barclays accounts closed without notice back in 2022 within a month of opening the accounts, I never found out precisely why in the end. In my case they incorrectly marked my account as having been defaulted. After complaining and then going to the FOS I got them to remove the default and received £100 as an apology for the ``abrupt closure of my accounts". See thread below for full details:

https://forums.moneysavingexpert.com/discussion/6448593/how-to-remove-an-incorrect-default-from-credit-reports/p1

Hello thanks for message, I have had a personal account with them since Dec 23. I used it for wages and all my direct debits and then what remained I transferred elsewhere for day to day spending. The interaction I have had with them recently was to complain about being unable to use their services a few weeks ago.

cbrownln6

This happened to me last month as well. I got a letter stating that they'd closed my account three days before the letter arrived.
It also states that they won't discuss with me as to why they closed it. The only thing that I can think of is that it is because I only kept the Barclays account for paying in cash to avoid the post office fee for paying into Monzo and then transferring it out straight away; they think I'm money laundering. I don't have a savings account with them or a mortgage; so I'm not exactly a valuable customer.
I've said all along that Barclays aren't bothered about small retail customers; they only want big bucks corporate customer.
I've always had little to no trust in the legacy banks and this is why I have more than one account with other banks.