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Barclays is closing all my accounts

Last post Sun, May 03 2009, 8:07 PM by Jalexa. 16 replies.
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  •  Sun, May 03 2009, 8:07 PM

    Re: Barclays is closing all my accounts

    WillWales:

    What (and all) they can do is to apply the account Terms & Conditions. You need to scrutinise the T&Cs and determine which clause they have applied. For an immediate suspension Barclays must have invoked Clause 14.4 otherwise you should have been given at least 30 days of active banking (Clause 14.3). I won't quote Clause 14.4 here but you should refer to the T&Cs and consider whether you agree or disgree it applies in your case. For Data Protection reasons I believe you are legally entitled to be informed of the reason so that you can ensure Barclays have accurately processed your personal data.

    If I'm treated badly by a bank I take my "revenge" as follows. Firstly you could make a DSAR request (costs £10) but the bank much more in admin costs. This may or may not reveal the reason, if it does not reveal any applicable reason for an "immediate" closure or whatever T&C clause the bank applied, complain formally. If you are not satisfied after 8 weeks you are entitled to ask the Financial Ombudsman Service (FOS) to investigate the bank's (alledged) breach of their Terms & Conditions. This won't get your account open again but the bank will be hit with a hefty case fee regardless of the outcome. Costs you nothing. Poetic justice of sorts. In addition if you find any Data Protection errors you can demand they are corrected and if they refuse tie them up with another complaint.

    I had a very minor issue with Barclays and it took well over 8 weeks for Barclays to address the substantive issue so I doubt they will get to yours within 8 weeks which is a good outcome as you are then free to refer the issue to the FOS (who BTW may take up to a year!)

    • Post Points: 5
  •  Sun, May 03 2009, 5:14 PM

    Re: Barclays is closing all my accounts

    Almost exactly the same thing has just happened to me!

    I went to open a Barclays Additions Active account because of the included travel and mobile phone insurance. I was previously with the Nationwide, and in the branch last Monday was offered the account no problem. Everything started to arrive through the post; cheque book, welcome packs etc. so I advised my employer to pay my salary into the new account, started changing payments and direct debits over and cancelled my mobile phone insurance.

    Then on Saturday I received a letter dated from Wednesday telling me that in 14 days time my account would be closed. I called telephone banking and was told the account had been suspended and that I should go to the branch on Monday morning to sort it out.

    When I got there, the "Personal Banker" had never seen a letter like it before and thought it must be a mistake, so they made a phone call and the person on the end of the line asked to speak to me. They said they couldn't tell me exactly why my account was going to be closed, just that the bank has confidential criteria that they review people on on a regular basis and I was no longer eligible to hold a Barclays account.

    Basically there was nothing I could do, the woman on the phone wouldn't give me any more information and I was just told that when my salary was paid in I should go directly to the branch to withdraw it all and return cheque books and debit cards.

    Went back on Wednesday, the lady at the teller was most apologetic but all that was left to do was pay over my salary in cash and that was that. Luckily I hadn't closed my Nationwide account or I would have been well and truly ****ed!

    I still have no idea why they would choose to do this, as my credit rating is fine, and I have never dealt with Barclays before - I certainly wouldn't in the future (even if I could which the curt letter advised would not be possible!).

    Thoroughly disgusted with all the time wasting, and had the timing been slightly different it would have left me abroad with no access to my cash!

    • Post Points: 20
  •  Sat, Mar 28 2009, 11:40 PM

    Re: Barclays is closing all my accounts

    Barclays has done the same thing to me. I was locked out of internet banking on friday, so i phoned telephone banking, and they told me I was locked out of telephone banking as well. I went to the branch, but got fed up of waiting, and tried to use the ATM to check my balance, and it swallowed my card !

    I was shell shocked, and walked home, and I could not work out what had happened. I work for the Bank, and yet no on in the bank could tell me why my account was blocked. Eventually, I phoned an old manager I knew, who told me that I hd ben sent a letter Friday, telling my account was to be terminated within 7 days ! Whats worse, I have joint accounts at Barclays with my partner, my borther and neice, and all these accounts have been frozen. Surely Barclays cant hold on to the monies of other joint account holders?

    Disgusting behaviour from Barclays. I have read the terms and conditions, and they can pretty much close the account as they please, the wording is so vague. My advice is to have bank accounts with at least three banks, as I had all mine with Barclays and have spent the past two days in limbo.

    • Post Points: 20
  •  Sat, Mar 21 2009, 7:22 PM

    Re: Barclays is closing all my accounts

    Barclays is one of the worst banks going and always have been, I had no end of trouble with them. I have a basic bank account with a solo card from natwest and it does everything except overdraft and cheque book. it comes with a solo card and does everything I ever need inc dds etc.
    • Post Points: 20
  •  Sat, Mar 21 2009, 3:48 PM

    Basic bank accounts

    Hello there,

    Could suggest maybe a "basic bank account" which most if not all banks offer to some a=degree (just that they dont advertise it so much as it's not the most profitable type for them - but they do exist.

    If you can, have a look at the Barlcays and Bank of Scotland (and other major banks etc) websites, they'll have list the accounts they offer and there are defo some basic ones around (no chequebook, no overdraft limit and probs no interest).

    Ive just opened one with Barclays for example.

    Or can go into a bank and ask for a "Basic bank account" I think it maybe the overdraft (no matter how small) that seem sto be the sticking point nowadays with many cirrent account applications - with the banks trying to hoard capital and in paranoia mode as theyre "Sub prime bets didnt quite pay off for them".

    Take care ^

    K

    • Post Points: 5
  •  Sat, Mar 21 2009, 3:46 PM

    Re: Barclays is closing all my accounts

    Hi there!



    It's been nearly a year since that happened for me. I've never found out the real reason why I didn't meet "bank's criteria", despite my credit file being almost perfect. Anyway, I got all my money including all the interested earned and have been banking with another institution. The whole process of transfering the money and seting up new saving accounts caused some hassle, but I've been happy with all the services available from Lloyds and Nationwide. It's better not to waste any time trying to find out why that happened.

    There was one letter sent to me with the first line starting "Thanks for your request to close the above account"... :) Had never asked for that.

    ellz - try Aliance and Leicester, I've heard that they are pretty easy going with the ones having not the best credit file.

    Aidas
    • Post Points: 5
  •  Sat, Mar 21 2009, 1:17 PM

    Re: Barclays is closing all my accounts

    Yes... the same thing has recently happened to me... oh was i *** off.

    It first started with internet banking... I could not log on, then I tried my card. My card got sucked by the machine... I then spoke to them, they said my account is getting closed in 7 days from now, didnt I not receive a letter for this? I said no... They printed me out a letter. I said to them why is it getting closed, they said I need to call this number, 0870 etc...

    I call the number they say its because I do not meet the criteria... WTF IS THE CRITERIA!!!!??

    Now all I have is just a savings account. I have tried applying for other student accounts, I just get declined... My credit isnt the greatest so now im stuck... I NEED A CURRENT ACCOUNT WITH A CHIP & PIN CARD

    Does anyone know of a bank that doesn;t credit check you? JUST A NORMAL CURRENT ACCOUNT WITH NO OVERDRAFT & THAT GIVES YOU A CHIP & PIN CARD?

    Thanks for your help
    • Post Points: 35
  •  Fri, Jul 18 2008, 3:38 PM

    Re: Barclays is closing all my accounts

    Anymore news Aidas? Where are yooooooooooooooou?
    • Post Points: 5
  •  Fri, Jul 18 2008, 2:31 PM

    Re: Barclays is closing all my accounts

    The kind of segmentation ITV were talking about doesn't normally lead banks to close accounts in the way described.

    I can only guess that the actions described arose from a concern at the bank about the bona fides of the customer.

    • Post Points: 5
  •  Tue, Jun 03 2008, 11:20 AM

    Re: Barclays is closing all my accounts

    Hi,

    There was a Tonight with Trevor McDonald report about 1-2 years ago on ITV: It was entitled Oranges, Lemons and plums (or somethjing along those lines).


    Basically, the theme of the show was about the banks regarding each of us (their clientelle) as a particular type of fruit...each type of Fruit signified a "type" of customer in their eyes.

    (this was during the era before so many of us started following Martins advice on claiming back bank charges) .

    Essentially, what they were doing was: IF say they felt you were for example a "Plum" customer - i.e. one who has a small family and say also works in a minimum wage type job and doesnt leave much money in your accounst typically (according to whatever profiling system they use) then they would potentially consider people "unprofitable sorts".

    Whereas if you were a say a "Lemon" quality customer in their eyes,e.g. a Successful business lady/gent and had lots of cash flow into their accounts then they would offer you lots of offers and the likes and consider you a worthwile (profitable) client to keep.

    ***

    On the show from what I could recall, the banks including the likes of Abbey, Banks of Scotland etc had all been classifying each of us in such terms and some had even began "ditching" what they felt were unprofitable customers by closing their accounts and the like.

    This could be one of the reasons your accounts have been closed with little/no explanation - some financial desk staff on the Barclays team mayve reviewed a whole list of client accounts on tehir list sometiem and decided that cleint X, y and Z were "Plums" and decided to ditch them etc.

    But I hope you find the answer as to the causes.


    I've got an Barclays account but have maybe on a few pounds in it fo rover 10 years and theyve left it alone and write to me with a statement about once a year, so that would be abit starnge if like as the ladies and gents above have mentioned that you have substantially more than a few pounds in the accounts with them.

    *****

    ISA's:

    One gent above mentioned that they had an ISA with the bank and that they were closing it - you can request an immediate transfer to another ISA provider: Anything from Virgin money, Abbey or other banks (there are many who dont charge to hold them.

    Dont give them the rightto just "close" your existing ISa, as I think that may cause you to lose the previous tax year ISas (say 05-06, 07 to 08 etc) worth of Tax free benefits...whereas if you transferred- you would be able to keep them all and continue your subscriptions to your ISa for the current tax years (upto the max for teh cash /Stoscks n shares limit).

    Hope it works out in a good way for each of you,

    Kind regards,

    • Post Points: 50
  •  Tue, May 27 2008, 6:08 PM

    Re: Barclays is closing all my accounts

    Hi Aidas,

    Have you managed to find out why Barclays have closed your account as the same thing has happened to me last Wednesday. First they cancelled my card without any explanation then they have closed my account. I received a letter today dated 21st May stating that my account will be closed within 7 days (tomorrow), no explanation. I do not owe them any money. I have tried speaking to various people in the bank but they will not tell me why it has been closed. If you have any more information please let me know.

    • Post Points: 20
  •  Tue, May 27 2008, 10:37 AM

    Re: Barclays is closing all my accounts

    Hi drumster

    Yes, I thought about that. On the other hand bank is closing not only ISA but current account as well.

    The other question is – can I open a new ISA somewhere else once this one has been closed? I opened it last tax year.

    • Post Points: 5
  •  Mon, May 26 2008, 5:39 PM

    Re: Barclays is closing all my accounts

    Hi, Aidas

    You say "In terms & conditions is clearly said that the bank can close this type of account with giving 3 months (!) notice, unless the bank is directed to do so by HM Revenue & Customs."

    As you haven't been given 3 months notice I assume it is an HMRC instruction. Why not call up HMRC - contact details on website - and ask for information anonymously or by name?

    • Post Points: 20
  •  Mon, May 26 2008, 4:17 PM

    Re: Barclays is closing all my accounts

    Didn't have any debts at all. I had a barclaycard a long time ago, but later closed it as balance was paid in full. ISA account was opened just at the end of March.

    Specially for that I checked my credit report on Experian yesterday, all is fine.

    Strange. They said the senior banker will have a look at that, so I'm waiting for any respond.

    • Post Points: 5
  •  Mon, May 26 2008, 3:55 PM

    Re: Barclays is closing all my accounts

    Goto agree, not saying for certain, maybe false information, previous debts owed to them from the past, in the red much?
    • Post Points: 20
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