Barclays accounts closed with immediate effect, no reasons given

boingy

An immediate closure suggests they think something fraudulent or scammy or illegal is going on. Most other reasons for closure would give you a notice period of a month or two. Check CIFAS again in a couple of months.

grumpy_codger

Hoenir said:

grumpy_codger said:

wmb194 said:

prettyandfluffy said:

The only other thing that springs to mind is Bitcoin: banks really don't like that.

Plus payments/transfers to and receipts from some countries and deposits from third parties the bank doesn't like for some reason e.g., selling something on Facebook marketplace.

However, none of these actions justifies immediate closure without a notice.

There'll be sufficient non personal activity for the account to come to the attention of the algorithm's.  

A-a-h... attention... of algorithms!!

What about humans, homo sapiens, that are supposed to "find out that you ....use your account for business."?

Note - find out, not just "believe" like for most other reasons for immediate closure.

So far I haven't seen any real examples of business (as per the T&C) activity in this thread.

sheramber

As no information has been given by the bank as to what their decision is based on it is all guessing.

Remember you do not have access to the OP’s banking affairs so only have his version of them.

The bank have their reasons. 

Whether ant body on here agrees is irrelevant. 

GeoffTF

sheramber said:

Whether ant body on here agrees is irrelevant. 

Nobody cares whether ant body agrees.

Hoenir

grumpy_codger said:

Hoenir said:

grumpy_codger said:

wmb194 said:

prettyandfluffy said:

The only other thing that springs to mind is Bitcoin: banks really don't like that.

Plus payments/transfers to and receipts from some countries and deposits from third parties the bank doesn't like for some reason e.g., selling something on Facebook marketplace.

However, none of these actions justifies immediate closure without a notice.

There'll be sufficient non personal activity for the account to come to the attention of the algorithm's.  

A-a-h... attention... of algorithms!!

Patterns of behaviour are easily discernible. Added to which unprofitable customers simply aren't worth the bother of retaining. 

t1redmonkey

Hey all.  I've had a (mostly) positive update on this whole situation today from Barclays.  Apparently, they'd made a mistake with the immediate closure.  They do still standby closing my accounts, but they said it was just for 'commercial reasons' and I don't need to be worried about being labelled as a money launderer/fraudster etc.

They said that given the circumstances of their reason for deciding to close my accounts, they should have given me the full 60 day notice, and have offered me £150 compensation as a result.  I've accepted that because ultimately, I just wanted my mind put at ease over why there was such urgency around closing my accounts immediately, but now I know it was more just along the 'commercial' lines, I'm not so worried.

penners324

Probably one of the buyers of your computer games complained about you to their bank. Maybe accused you of the empty box scam. So Barclays believe you've been doing Fraudulent things.

Section62

penners324 said:

Probably one of the buyers of your computer games complained about you to their bank. Maybe accused you of the empty box scam. So Barclays believe you've been doing Fraudulent things.

That doesn't really fit with the OP's last post - 'doing fraudulent things' isn't 'commercial reasons'.  The latter possibly means they have spotted what they think might be business-like activity on a personal account and simply don't want the hassle of dealing with a customer doing that.

Olenna

t1redmonkey said:

Hey all.  I've had a (mostly) positive update on this whole situation today from Barclays.  Apparently, they'd made a mistake with the immediate closure.  They do still standby closing my accounts, but they said it was just for 'commercial reasons' and I don't need to be worried about being labelled as a money launderer/fraudster etc.

They said that given the circumstances of their reason for deciding to close my accounts, they should have given me the full 60 day notice, and have offered me £150 compensation as a result.  I've accepted that because ultimately, I just wanted my mind put at ease over why there was such urgency around closing my accounts immediately, but now I know it was more just along the 'commercial' lines, I'm not so worried.

It's more likely that they were unhappy with the conduct of your account and coupled with being non-profitable they simply wanted rid of you as a customer.

Once they realised that you were digging into the reasons, they knew their immediate closure wouldn't stand up to scrutiny (e.g. Financial Ombudsman) so they apologised and gave you £150 to go away.  

Shakin_Steve

Any other guesses on a postcard please.