I think First Direct suspect me of fraud!

finance-boy

Hi everybody.

I opened up a First Direct account about 6 months ago with the intention of switching everything over to them.

But I just never got around to it. I've got that many incomings and outgoings, I was convinced that something would go wrong. It's not only Direct Debits I'd have to worry about but also things like PayPal and Amazon and Quidco and god knows what else.

So I've been transferring £1500 back and forth between that account and my actual account (LloydsTSB) just to keep the account active and avoid any fees.

Stupidly:wall:, I rang them a few days ago to ask for a credit card, and... they went to check my account... and the man stopped for a minute and asked what the deal was. He said "clearly, this isn't your main account" and then he asked me what exactly I used the account for (with a clear tremble in his voice)

I think I picked up on the tremble and just panicked a bit and said "erm... just for... moving... money around, really" :wall:

Doh! I'm really no good at thinking on the spot.

Obviously, I was declined for the credit card, and the next day I closed my account (reasoning that I'm never actually going to get around to switching everything over and these constant transfers probably look quite dodgy)

But now Yodlee Money Manager tells me that there was a technical error while trying to log into my HSBC credit card account. And I know they're the same company, so...

Am I worrying over nothing here? I certainly hope so.

finance-boy

Come on guys, put my mind at rest

BigCraigJohn

Are you self employed? If so they may just be looking at why you don't have a business account, but surely it's none of there business how many accounts you have and whether there's is your main one.
It does look suspect but if you have lloyds statements to back up your story don't worryabout it.
Guess the only way is to ring them and ask.

I made the same move last year and it all went smooth. Just ring and check.

jd87

You haven't committed any "fraud", all you've done is maybe broken the terms and conditions, which really isn't a big deal. You're panicking over nothing and there was probably no need to close the account.

knightfox

I agree you have done no wrong.

FD, as some other banks like to look at what you are doing financially to see if you can afford a credit card or not. Thats why he asked what was going through the account.

Many, I mean many years ago. I had a savings account with an insurance company. Well they were well known for insurance but also had savings. I cant remember the name. I asked for a gold card, this is when it was first coming out. The guy in lending grilled me about what I was paying this money out for. It was just savings, I dont think he believed me.

Actually I dont think any lending department believes me when they 'discuss' my finances. A bit like my dentist, what have been eating again. The same food as them.

finance-boy

Oooooh, I hope so. What about that error message from Yodlee, though? I've never had that before. It just seems like a really big coincidence...

izools

finance-boy wrote: »

Oooooh, I hope so. What about that error message from Yodlee, though? I've never had that before. It just seems like a really big coincidence...

Are you able to log in and check the balance OK from HSBC's website?

If so, it's a Yodlee error

finance-boy

Phew! It's letting me log on okay. I hope that's the end of it.

finance-boy

I am actually self-employed as well. Doesn't that make it look more suspicious?

I'm imagining all sorts right now. What if the Inland Revenue want to investigate me? I know someone who's been investigated before and they said it was the worst period of their life. And I'm of a pretty anxious disposition as it is. Wouldn't they have to wait until after I'd filed my tax return to investigate me anyway?

finance-boy

In hindsight, I should have just opened one of their savings accounts.

knightfox

I was under the impression that the Inland Revenue can 'audit' you at any time. I am not sure why it is difficult if all your books are up to date.