Barclays have taken all of my money (80,000) and put my account in -500,000 - Glasgow ADV 'to Reconcile'

[barclaysaretryingtokillme]

Hi All, 

 

A couple of days ago I woke up in the morning to find my savings and my current account in Barclays to vanish with a balance of 0.00. I had 80k in the account which is a combination of live savings, gifts and cash deposits. I have always made cash deposits into my current account (one week in 2019 I put 15k in a week) and nothing ever EVER flagged. I used this account as my main savings account, as I am saving aggressively given how the economy is turning out to by a first home. 

 

Yet last week I woke up in the morning and to my horror, my balance was 0.00 in savings and my current account. A few hours later both were overdrawn to -500,000. Customer support could not tell me anything nor could the branch. I filed a complaint but nothing has seemed to happen. 

 

I read around, mostly this amazing forum, and it appears there is nothing I can do but wait. I sent an email to all the execs, and a senior complaints exec reached out to me saying they will get back to me. This was 7 days ago and still no response. 

 

How long will I need to wait? I really needed the money as I was supposed to put my offer for a home literally next week. 

 

Also could there be any complications? The last thing I need is my mortgage to be declined because they see this in the statements. I read they can put a mark on CIFSA - this would kill me economically and this is crazy as I a doing nothing illegal and none of it is my fault. 

 

I am pulling my hair out over this. No news nothing. I am not a criminal, so why am I being treated like one?

 

Will most likely switch this account/close the account and move somewhere else. I am aghast at what is happening. 

 

Please advise, any forums or advice on what to do please will help so much. 

 

Many Thanks,

[BankFodder]

I would begin by sending them an SAR.

Separately I would begin a formal complaint and tell them that you want it escalated to the ombudsman.

Let us know what happens

[barclaysaretryingtokillme]

I don't think they would allow me to know anything from a SAR due to Anti-Money Laundering regulations which it appears I am a victim off. 

 

I started a formal complaint last week, which I will know tell them I want escalated to the ombudsman

 

I just don't want my credit score to be ruined and need the money back ASAP. What can I do to achieve these? 

 

Of course, I have seen some people here fortunately get their money back, but for some it was quite difficult. I am thinking of transferring the money out to my other account and closing the account - will this be easy?

[honeybee13]

Hi.

 

From what I've seen here, sadly it seems to be a matter of waiting until Barclays have gone through their money laundering checks.

 

It may help to contact the executive complaints team and it's certainly worth a try because they're probably the closest you'll get to the CEO.

 

For what it's worth, everyone except the latest couple of threads that aren't at the end of their journey yet, has got their money back.

 

HB

[dx100uk]

it wont ruin your rating nor cifas etc.

 

sadly as you rightly say there nowt you can do, sar wont tell you anything.

 

you've just gotta await 10 day to about a month for a human to review why their AI system autoflagged you.

 

dx

 

[barclaysaretryingtokillme]

Thanks Honeybee, I sent the email to the executive complaints team but since the initial email, they have been unresponsive. I think I have sent emails to near enough 15 execs. 

 

What will the money laundering check actually do? I saw they refer to the NCA - but isn't this to check terrorism? I am so confused why I would get flagged. Yes I make large cash deposits, but I have been doing this since I opened the account in 2018. 

 

dx100uk - thank you for your reply too. I saw some people get their account closed by Barclays - won't they flag this on CIFAS and maybe put a mark? 

 

Many Thanks

 

 

[barclaysaretryingtokillme]

Also honeybee could you share the most recent threads? The latest I saw was March 2022 - which was a year ago and I really hope he got his money back! 

[honeybee13]

Hopefully this links to similar threads. It seems to me although I can't say the exact numbers that on average we see a problem like yours a couple of times a month. As I said, everyone we've seen here who's been honest has had their money back.

 

https://www.consumeractiongroup.co.uk/forum/6-barclays-bank/

 

HB

[barclaysaretryingtokillme]

Thank you Honeybee - I can see it is hit or miss, with some needing to prove the funds, and others do not.

I just hope if they close my account it does not ruin my credit file - has there been a history of this for other people? 

 

No one seems to mention if they were marked on CIFAS - even the people who have had their accounts closed by Barclays.

 

And of course, I desperately need the 80k back, but I imagine there is nothing I can do until I hear from them?

Proving the funds is mainly wages paid in cash from when I was 16 (I have payslips which say cash on them) and also my family refinanced our home and gifted me the money - I have the completion letter for this. 

 

If they ask for proof of funds how will I know?

Is there anything I can do to speed up communication between me or the bank? 

Also golly - has anyone on here been dishonest? 

[slick132]

Hi B's,

 

No point in speculating what may happen - wait until you hear back from the bank.

 

Meanwhile, do you have facilities with another bank, in case Barclays decide they must close your accounts. If not, make this a priority in case you need it.

[BlueNoseBear1987]

Always have a backup account just incase.

[dx100uk]

yep never ever have all your eggs in one basket nor income going to one banking group....

 

always open a parachute account!

 

 

[dx100uk]

I just hope if they close my account it does not ruin my credit file - has there been a history of this for other people? - nope it doesn't

 

No one seems to mention if they were marked on CIFAS - even the people who have had their accounts closed by Barclays. - nope no effect

 

And of course, I desperately need the 80k back, but I imagine there is nothing I can do until I hear from them? - as already stated

 

Proving the funds is mainly wages paid in cash from when I was 16 (I have payslips which say cash on them) and also my family refinanced our home and gifted me the money - I have the completion letter for this. - probably no need.

 

If they ask for proof of funds how will I know? - rarely do...but they will write if they need anything

 

Is there anything I can do to speed up communication between me or the bank? - nope best way is sit on your hands dont kick pram wheels. if 30 days ticks by pop back here.

 

Also golly - has anyone on here been dishonest? - not sure what you mean but those that bothered to result their thread have all got their full moneyback with no issues at all.

dx

[barclaysaretryingtokillme]

Yes I have a couple of accounts but this had all of my life savings in, and I was due to make an offer on a home this week. It couldn't have been worse timing as I need the funds to make a holding deposit. 

 

If Barclays decide to close the account, as above CIFAS is unlikely to be placed (thankfully) - will other banks reject me? 

 

I am thinking as soon as I get access to the account (hopefully I do, and soon) to draw the funds out over 48 hours, and then use the switch guarantee service to move the banking for this account over to somewhere like Nationwide. Or should I close the account and open a new one? 

 

DX100uk

 

Thank you for your bullet pointed and straightforward replies, I will take your word for it and this has helped reduce some of the stress I am going through, 

 

I hope I don't have to show proof of funds, I imagine this would delay things as this bank takes a minimum of a full working week to get back on anything - would there be any way I could speed it up if they do ask for proof of funds? What have other people done? 

 

Again, thank you all for your help. 

In these stressful and helpless times

[dx100uk]

nothing you can do to speed it up.

calm down wait.

all will be sorted.

 

dx

 

[barclaysaretryingtokillme]

Funny, they have added interest of on my life savings, so no my savings account reads "-£499,964.13" as opposed to -£500,000.00

 

Called the bank yesterday just to see if I could hurry it along, they could give me no answers but the fact that complaints will get back to me soon. 

 

Absolutely aghast. 

[dx100uk]

thats a bogus figure , ignore it.

 

dx

 

[barclaysaretryingtokillme]

It has been over 3 weeks now, still waiting (15 working days). The complaints called me and said they could not tell me anything until the investigation has completed. 

 

Is there anything I can do in the meantime? I am so stressed about this, should I try writing to the NCA? 

 

Barclays have not sent any letters to my residential address, and I confirmed this with the complaints team. 

 

The financial ombudsman will take far too long to get any action from. 

[dx100uk]

On 25/04/2023 at 00:28, dx100uk said:

Is there anything I can do to speed up communication between me or the bank? - nope best way is sit on your hands dont kick pram wheels. if 30 days ticks by pop back here.

 

 

[ziake]

hi how was it? did you get your money back?

[barclaysaretryingtokillme]

Hi everyone, 

 

It has now been over 30 days and still no sign of the money being returned to me.

 

I called the complaints team again and again they said they don't know when a decision will be reached and when they will be able to return the money to me. 

 

As it has now been over 30 days, what do I do now? I am going insane. 

 

I got a letter saying I can get the financial ombudsman involved, but from what I have seen that takes at least four months to come to any conclusion and even then a token £200 is awarded, I don't need this I just want my life savings returned to me ASAP. 

[barclaysaretryingtokillme]

Can anyone help? I was told to come back to this forum with next steps if I have not got my money back after 30 days, it has now been 30 days and counting, what could be taking them so long? I understand it is a large amount, but it is my life savings. 

 

Still no news from them and I am honestly dying from all this stress it has put me under. 

 

[dx100uk]

have you email the CEO asking whats going on.

stop stressing doesnt help you.

 

you have got a parachute account?

 

dx

 

[barclaysaretryingtokillme]

Hi Dx, 

 

Thank you for your reply, yes I have emailed the CEO last week to ask for an update - did not hear from any of them (also emailed the exec team). Last time I got an email about my complaint being acknowledged, but I guess this time no email as I already have had a complaint raised which has been over 30 days. I thought the money would be back after 10 working days. 

 

I have a parachute account, but the deadline to pay for my house deposit is coming up, and no news from Barclays despite them knowing this. All my savings were in Barclays. 

[dx100uk]

silly idea to have your money all in one place, but you've learned now so...

 

not sure where you got 10 days from.

typically we see most reconcile issues here resolved in about 10 - 30 days but thats not saying it might not take a wee bit longer.

 

they are always resolved but its just how quickly a human gets involved as the initial freezing would have been done by their AI bot. 

 

dx