New Barclays customer cannot access my money in app BE WARNED.

NewYorkNo1fan

Having opened a new account earlier this week to get the switch incentive, I paid £2000 into the account . When I later went into the app to withdraw some of that money I was met with the message,”it takes up to 4 days to add a new payee in the app”.

on contacting Barclays to express my annoyance, they have told me it can take 10 working days to receive my passcode to be able to withdraw my money as they have to run other security checks. What??? Well we only get post once a week so that’s going to be another week again of waiting for that!

how can I be permitted to open and pay money into my account yet not be allowed to withdraw it without any prior warning that I won’t have immediate access to it. 
I’ve been told I could access money in branch which is not an option as my local branch closed!

I raised a complaint but have no faith in this institution already.

anyone else had this issue? I am livid!

PRAISETHESUN

It's more a "feature" with the security on their app. Any change of device (including first device set up) takes 4 days to process, presumably to stop fraudsters setting up a new device and fleecing you 5 mins later. Separately is the usual delay of getting cards/PINs/internet banking passcodes sent out for new accounts.

Typically it's good practice to ensure you have full control over an account before depositing large sums. Doesn't help OP in this instance, but good for others to know in future. As OP has stated, branch withdrawals are not restricted, but I appreciate that might not be an option given the distances involved.

NewYorkNo1fan

Nothing in the Ts&Cs that I could find however I’ve eventually managed to get around it.
 By complaining on the phone they were able to pay back a nominal £100 which luckily created a new payee in the app. Something I was not permitted to do myself.

I used this new payee to return the remaining £1900 via the app and although it did say that it might take 4 hrs due to security checks….the app subsequently blocked my further access and I had to ring the fraud team.
They unblocked the app , released the pending payment so I got my £2000 out of their mucky paws. Result!

Chief_of_Staffy

It's actually one of the more reasonable restrictions (from the bank's perspective, of course, none of these security 'features' actually benefits the sensible customer). Money launderers would otherwise be able to set up a new account, squirt money through it, and close it again in short order.

NewYorkNo1fan

Chief_of_Staffy said:

It's actually one of the more reasonable restrictions (from the bank's perspective, of course, none of these security 'features' actually benefits the sensible customer). Money launderers would otherwise be able to set up a new account, squirt money through it, and close it again in short order.

Would have been helpful if they’d at least had the decency to tell customers they won’t immediately have access to withdraw funds from their accounts and it may take up to 10 days and additional security checks. Would have saved a lot of heartache.
lesson learnt, never fund account before all security passcodes/pins etc have been received.

Chief_of_Staffy

NewYorkNo1fan said:

Chief_of_Staffy said:

It's actually one of the more reasonable restrictions (from the bank's perspective, of course, none of these security 'features' actually benefits the sensible customer). Money launderers would otherwise be able to set up a new account, squirt money through it, and close it again in short order.

Would have been helpful if they’d at least had the decency to tell customers they won’t immediately have access to withdraw funds from their accounts and it may take up to 10 days and additional security checks. Would have saved a lot of heartache.
lesson learnt, never fund account before all security passcodes/pins etc have been received.

They absolutely should make it clear. No excuse for that.

singhini

"on contacting Barclays to express my annoyance"
"I raised a complaint but have no faith in this institution already"
"By complaining on the phone"
"I got my £2000 out of their mucky paws"
Sounds like their not the bank for you

Sounds like you managed to get the money out electronically, but you didn't say how you paid it in. If it was cash and then you tried to take it out within hours, i would be suspicious. 

If it was electronically deposited and electronically withdrawn within a few hours, the money may not have initially  cleared (and i would still be suspicions) 

Personally, if money is deposited and withdrawn fairly quickly i would be suspicious (i would be thinking your being coerced to open an account and start to move money about like a financial mule). Quick movement of funds would be a red flag to me. 

I’m pleased to hear everything has been resolved

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If i was a bank i would zero everyone account balance at 5pm and tell them ive taken the money and put it in the safe. i will stick it back into your account in the morning so please log in tomorrow and check its been put back  🤣  🤣  🤣 

NewYorkNo1fan

singhini said:

"on contacting Barclays to express my annoyance"
"I raised a complaint but have no faith in this institution already"
"By complaining on the phone"
"I got my £2000 out of their mucky paws"
Sounds like their not the bank for you

Sounds like you managed to get the money out electronically, but you didn't say how you paid it in. If it was cash and then you tried to take it out within hours, i would be suspicious. 

If it was electronically deposited and electronically withdrawn within a few hours, the money may not have initially  cleared (and i would still be suspicions) 

Personally, if money is deposited and withdrawn fairly quickly i would be suspicious (i would be thinking your being coerced to open an account and start to move money about like a financial mule). Quick movement of funds would be a red flag to me. 

I’m pleased to hear everything has been resolved

-----------------------------------------------------------------------------------------------------

If i was a bank i would zero everyone account balance at 5pm and tell them ive taken the money and put it in the safe. i will stick it back into your account in the morning so please log in tomorrow and check its been put back  🤣  🤣  🤣 

Money was paid in by transfer from another account, in my name, held elsewhere, not cash. 4 days later I tried to withdraw as a transfer from the app to another account in my name. I can’t see that this would be suspicious

singhini

So why didn't you say that in your opening post? (You were clear that the bank told you "it takes upto 4 days to add a new payee"), but there was no mention it had already been 4 days.
As I said, it doesn't sound like their the bank for you (but I'm sure your happy to take their money).

[Deleted User]

I think a lot of posters will have experienced this when mass switching. You often can’t login to online banking for a week or so until you get the details.

if it’s a brand new account trying to withdraw deposited cash this may trigger alerts at the bank, because that is what money laundering involves from what I understand.

Ergates

NewYorkNo1fan said:

singhini said:

"on contacting Barclays to express my annoyance"
"I raised a complaint but have no faith in this institution already"
"By complaining on the phone"
"I got my £2000 out of their mucky paws"
Sounds like their not the bank for you

Sounds like you managed to get the money out electronically, but you didn't say how you paid it in. If it was cash and then you tried to take it out within hours, i would be suspicious. 

If it was electronically deposited and electronically withdrawn within a few hours, the money may not have initially  cleared (and i would still be suspicions) 

Personally, if money is deposited and withdrawn fairly quickly i would be suspicious (i would be thinking your being coerced to open an account and start to move money about like a financial mule). Quick movement of funds would be a red flag to me. 

I’m pleased to hear everything has been resolved

-----------------------------------------------------------------------------------------------------

If i was a bank i would zero everyone account balance at 5pm and tell them ive taken the money and put it in the safe. i will stick it back into your account in the morning so please log in tomorrow and check its been put back  🤣  🤣  🤣 

Money was paid in by transfer from another account, in my name, held elsewhere, not cash. 4 days later I tried to withdraw as a transfer from the app to another account in my name. I can’t see that this would be suspicious

That's how the "layering" part of money laundering works.

NewYorkNo1fan said:

 I got my £2000 out of their mucky paws. Result!

Presumably these are the same "mucky paws" who gave you free money for doing nothing more then opening an account?  Will you be returning it?