Barclays Account Closed.

wmb194

cbrownln6 said:

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.

Barclays has millions of retail customers and its credit card business is one of its most profitable parts. Given the massive potential fines from the regulatory authorities you cannot blame it for being suspicious of what you've been doing. It's just not worth the risk.

Hoenir

cbrownln6 said:

 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;

Then it's a pure commercial decision. You are costing them money.  

grumpy_codger

Hoenir said:

cbrownln6 said:

 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;

Then it's a pure commercial decision. You are costing them money.  

It surprises me how eagerly you start justifying banks' arrogant actions without giving this a second thought. What about the T&C? Are they for customers only, not for banks? If this really was a "commercial", cost-related decision (that would be fair enough), do you not think that they must have given a 90-day notice?

cbrownln6 said:

I got a letter stating that they'd closed my account three days before the letter arrived.

GeoffTF

grumpy_codger said:

Hoenir said:

cbrownln6 said:

 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;

Then it's a pure commercial decision. You are costing them money.  

It surprises me how eagerly you start justifying banks' arrogant actions without giving this a second thought. What about the T&C? Are they for customers only, not for banks? If this really was a "commercial", cost-related decision (that would be fair enough), do you not think that they must have given a 90-day notice?

cbrownln6 said:

I got a letter stating that they'd closed my account three days before the letter arrived.

How large and frequent were the cash deposits? Where did the money come from? Perhaps cbrownln6 needs to file a DSAR with CFAS to make sure he has not been flagged up as a money launderer.

fuzzylogic82

cbrownln6 said:

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.

Thanks have you done a gdpr request and also checked to see if they have added markers?They told me yesterday it was a commercial decision.

fuzzylogic82

cbrownln6 said:

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.

Thanks for this, they dont take into account how much worry this causes everyone. I worry now they think im in a criminal when I havent dont anything. Only yesterday did they say it was a commercial decision, I assume that means it's non fraud related. But now I have to wait on cifas to confirm that I havent got a marker. Still havent had the letter in the post that my account has been closed, how can they treat people this way, no checks on vulnerability etc