Barclays closing bank accounts related to Bitcoin

[jonnybgood]

This has just happened to me my online account has been lock but its very annoying as I am merely a very small monthly buyer of about £200-300 of BTC and I always purchase from my personal account with all my debits and everything and I don't really want my account closed if I can avoid it. I was only trying to buy 0.3btc from localbitcoins but they locked the account, I have had an account with them for 25 years so I don't see how they can shut down my account for doing something that isn't illegal? They may say I can't buy more coins or something but I can get an RBS account as well if needs be, anyone recommend a better UK way/bank?

I have to contact the fraud department but I don't really know what to say I will have to ask them why my account was locked and presumably they will bring up BTC purchases, I buy them legally as far as I am aware and the purchase didn't break any laws so they have no reason to block the purchase for future coins presumably? Or are they now going to investigate me or something?

[CoinCidental]

unlikley to get a reason IMO
theyre just covering themselves and they will point to  their terms and conditions dictate they can withdraw anyones  banking priviledges at any time for any reason at their discretion or some such bullshit.........

lots of people have had banks closed for sending /recieving money to known btc exchnage  accounts like gox and the others

[ashatak]

Hi, I just wanted to ask what happened to the money that was in your account? Did they let you take out the money before closing your account?

I am having some issues with Natwest recently, they keep holding money when I'm making payments to other people and saying its a random fraud check, but the money is shown as left my account so creates problem with people as they think I've not sent a payment.

Regards

Hi,

Just want to share my Barclays experience with you guys here.

I opened an account in Barclays so that I can sell or buy coins at bitbargain.co.uk. They opened my account and after 3 days I received a letter that they will be closing my account soon. They haven't given me any specific reason.

Then I came across to this post.

http://www.reddit.com/r/Bitcoin/comments/1sgcm6/my_bank_has_frozen_my_account_because_i_sent/

I have another account with Natwest and I have been using that account for buying coins from localbitcoins. My guess is that they did some sort of history check and didn't like that I have been buying Bitcoins.