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

phillw

A few banks really don't like you opening a bank account, dumping a load of cash in and then taking it out.

It costs them money, looks like money laundering, and where they are offering you money to open the account then they expect you to use it like an account where money goes in and then you make direct debit or debit card payments.

And yes, don't do anything like this on a new account, when you need the money instantly as you can trigger an account suspension.

Hooli

NewYorkNo1fan said:

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!

I absolutely get where you're coming from.  I have experienced exactly the same.  

https://forums.moneysavingexpert.com/discussion/comment/81726312#Comment_81726312

It would be prudent of them to notify any new account applicants that there will be a delay in accessing deposited funds and the reason why.  All this has done is discourage new applicants because all they're getting is bad press.  All we're asking is for transparency.

NewYorkNo1fan

Ergates said:

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If it was electronically deposited and electronically withdrawn within a few hours, the money may not have initially  cleared (and i would still be suspicions) 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

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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  🤣  🤣  🤣 

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?

I gave up with the account switch due to all the hassle. so in answer to your question, No, I did not give them any money back as I never received any. They’re now badgering me to complete my application. In your dreams Barclays .