Financial Compensation Scheme Worth Anything On Paper?

[OldChestNuts]

Barclays bank had closed on my account without my knowledge and they have kept my money.
I needed my savings for health treatment and they have not given any reason to keep my money when I tried to ask for my money.

Had anyone used the FCS protection to claim from banks? How is this claim in practice?

[OldChestNuts]

Thanks for all the advise above. I forgot to mention that Barclays security policy is questionable. When I phoned up the customer service they asked for security questions. I told them I have not provided any security details when I opened the account. I don't do online banking either. They kept on asking for my mother's maiden surname then my her first name (seems to try and build a profile of my personal details - bear in mind I am speaking to someone in other country). But I told them what it was then failed the checks. It wasn't surprised to fail the check because they shouldn't have known the details, apart from my name, DoB, and phone number. So they asked me to go to the branch. This was when I discovered they have used my surname as my mum's maiden name. It's look like the bank doesn't know the basic security requirements.

[bednobs]

how long since you used the account? I get a yearly (at least) statement from all my accounts, and I r=presumed everyone did for tax purposes.

[Apc2604]

https://www.theanswerbank.co.uk/Business-and-Finance/Question1718892.html

[Apc2604]

I thought it sounded similar!

[TonyV]

If my bank Santander, see any unusual activity on my account they close the account until I contact them. Happened to me yesterday, I didn't know my security number, but after a few security questions, just about me, I was sent a 3 digit code to my mobile to reactivate the account, was sorted in minutes.

[Buenchico]

>>> The website they referred to is infact a third party website and got nothing to do with Barclays. So they are asking me to apply through a third party loss and trace account/money

Assuming that it was http://www.mylostaccount.org.uk it's an official site supported by the Building Societies Association, National Savings and Investments and UK Finance (which is the banking trade association). So there would be absolutely no risk involved in using it.
https://www.barclays.co.uk/current-accounts/dormant-lost-accounts

However, as you've said, you know the account details, so you shouldn't need to go through that service. Last year Santander marked one of my accounts as dormant and were about to do the same with another. I managed to get everything sorted out fairly easily though, simply by visiting a branch and getting so sit down with one of their managerial staff. That was down during one of the 'lockdown' periods, so I can't see why you can't do the same.

Contact Barlclays for a face-to-face (or should that be 'mask-to-mask'?) appointment!

[OldChestNuts]

I just wanted to report back on the outcomes of this thread.

I think it took more than 7 weeks to get my money back. The bank still haven't issue any apology letter or explanation when took up the formal complaint. They were hoping that they could quiet keep my money! But now I have got my money back.

So just be warned that if your account has been inactive/dormant, it is not that straight forward with Barclays. Unlike other banks, you can reactive the same day and the money becomes available on the same day.

[Buenchico]

Thanks for the feedback but I can't help thinking along the lines of "Don't just tell us, tell these people!"
https://www.financial-ombudsman.org.uk/consumers/complaints-can-help/banking-and-payments