Part 5 of the Retail Banking Market Investigation Order 2017 requires banks and building societies to send Payment Transaction Histories to any personal current account customer who closes their account (unless an exemption applies).



Barclays failed to provide around 700,000 former account holders with their Payment Transaction Histories across 4 separate breaches. The longest of these failures lasted 6 years and is still ongoing.



This letter sets out our concerns and what Barclays did to put things right.

CMA Raises Concerns Over Barclays' Breach of Retail Banking Regulations

The UK Competition and Markets Authority (CMA) has formally addressed Barclays regarding significant breaches of Part 5 of the Retail Banking Market Investigation Order 2017. This regulation mandates that banks and building societies must provide Payment Transaction Histories to personal current account customers who close their accounts, unless specific exemptions apply.

 Barclays has reportedly failed to deliver these transaction histories to approximately 700,000 former account holders across four distinct breaches. Alarmingly, the most prolonged failure has persisted for six years and remains unresolved.

 The CMA's letter outlines their concerns regarding these violations and details the steps Barclays has taken to rectify the situation. The authority emphasizes the importance of compliance with the regulations to ensure that customers receive their rightful transaction histories upon account closure.



CMA Raises Concerns Over Barclays' Breach of Retail Banking Regulations

The UK Competition and Markets Authority has issued a letter to Barclays for failing to provide Payment Transaction Histories to former account holders, violating the Retail Banking Market Investigation Order.