Has your bank closed your account?

Jessie_M

nelladonna wrote: »

Hi, this is my first post at this forum.

I have a few accounts at Nationwide, the most important being a joint account with my husband with all the direct debits to pay all the bills in our life. While I really want to claim charges, I am worried about losing the account. Also, NW does have good rates for overdrafts compared to other "banks".

So a few questions:

One, should I change all our direct debits before I start the process of claiming, or can I wait a while?

Is there another account at another bank with good OD interest rates that I would be advised to change to?


Is it important to get moving now, before the ruling about this happens?

Thanks for your feedback in advance. I think that I will have a significant amount to reclaim. NW have been charging OTT fees when cheques bounce for instance.

I need a bit of encouragement! It all seems a bit scary.

S.

You should claim back your bank charges, you should open an account elsewhere if you havn't already got one, you shouldn't need to shift your direct debits immediately you do have while and they may not even close your account down anyway. It is very quite easy to claim your charges back just follow Martins step by step guide, he has all the template letters there for you to use. Go for it Nelladonna, and good luck.

Jess

davey_cr0cket

Just had a letter today to say that Alliance and Leicester were closing my bank account!

Just an ordinary current account after I successfully reclaimed £1342.

esmerellda

Report them to the FOS and tell them you are doing so

loophole_2

Hi

I'm with RBS and currently claiming £4288 (inc interest). I have a loan with RBS for £15,000 and an overdraft of £1400 - will they make me pay this off immediately if they close my account? Can they take my refunded money and pay it straight off my loan? I'm not in arrears with my loan but am £1000 into my overdraft. Any advice really appreciated... thanks!

Twinkly

esmerellda wrote: »

Report them to the FOS and tell them you are doing so

Mention the £200 compensation other banks have had to pay for doing so as well. :rotfl:

Twinkly

loophole wrote: »

Hi

I'm with RBS and currently claiming £4288 (inc interest). I have a loan with RBS for £15,000 and an overdraft of £1400 - will they make me pay this off immediately if they close my account? Can they take my refunded money and pay it straight off my loan? I'm not in arrears with my loan but am £1000 into my overdraft. Any advice really appreciated... thanks!

The banks do have the right to set off monies on another account you hold with them BUT provided the loan isnt 'due and payable' and has not been recalled then I believe they shouldnt. Information on the Financial Ombudsman site points to this so please read here :

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/40/40_setoff.htm

For 'loan' also read 'overdraft'. if you have an arrangement to pay the overdraft off and havent broken it then I see no justification for them to try and force payment with the refund.

The outcome of such complaints depend on individual circumstances so please get a 2nd opinion and more advice. Hope that helps a bit and good luck with your claim

spookykid

I'm with barclays, and I'm claiming back from them £3240. As of yet they haven't closed my account, but they have stopped all my direct debts , and standing orders. Has this happened to anyone else

Orchidthegreat

I think you should be able to sue the bank for disabling your account. Especially if you have standing orders going out of the account and you should no longer be liable for any loans taken out with them.

I am about to start claim 2,100 pounds of bank charges from Llyods Tsb

krisskross

spookykid wrote: »

I'm with barclays, and I'm claiming back from them £3240. As of yet they haven't closed my account, but they have stopped all my direct debts , and standing orders. Has this happened to anyone else

Do you have enough money going into the account to service these payments? If you have can't understand their reasoning.

loophole_2

Twinkly wrote: »

The banks do have the right to set off monies on another account you hold with them BUT provided the loan isnt 'due and payable' and has not been recalled then I believe they shouldnt. Information on the Financial Ombudsman site points to this so please read here :

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/40/40_setoff.htm

For 'loan' also read 'overdraft'. if you have an arrangement to pay the overdraft off and havent broken it then I see no justification for them to try and force payment with the refund.

The outcome of such complaints depend on individual circumstances so please get a 2nd opinion and more advice. Hope that helps a bit and good luck with your claim

Thanks Twinkly... I'll read up and keep you posted!