NATWEST closed my account without any notice and consent

zppp

Flyboy152 wrote: »

I think the ombudsman would disagree.

Which is documented where exactly?

stclair

Flyboy152 wrote: »

I think the ombudsman would disagree.

I dont think they would have any envolvement its up the bank who they choose to have as customers.

Its not if the bank are going to turn round and say sorrry we are closing your account because of XYZ.

Former_MSE_Andrea

Hi everyone

We've removed several posts on here. If you don't have suggestions for the OP please don't post.

Thank you!

Flyboy152

stclair wrote: »

I dont think they would have any envolvement its up the bank who they choose to have as customers.

Of course they can decide who they have as customers (as long as the reason is not discriminatory), no one is suggesting that shouldn't be able to.

Its not if the bank are going to turn round and say sorrry we are closing your account because of XYZ.

But, from what I understand about the code of conduct, they have customers give thirty days notice and an explanation.

zppp

Flyboy152 wrote: »

Of course they can decide who they have as customers (as long as the reason is not discriminatory), no one is suggesting that shouldn't be able to.

But, from what I understand about the code of conduct, they have customers give thirty days notice and an explanation.

Many banks place in their terms and conditions clauses along the lines of;

Where possible we will inform you of our intention to close your account. In exceptional circumstances, we can close your account immediately.

Further guidance can be found from FOS here;
http://www.financial-ombudsman.org.uk/publications/ombudsman-news/48/banking-closing-accounts.htm

Flyboy152

zppp wrote: »

Many banks place in their terms and conditions clauses along the lines of;

Where possible we will inform you of our intention to close your account. In exceptional circumstances, we can close your account immediately.

Further guidance can be found from FOS here;
http://www.financial-ombudsman.org.uk/publications/ombudsman-news/48/banking-closing-accounts.htm

I think this is the operative term.

Gary1963

Nationwide did that to me. The first i knew about it was that the account just disappeared from Internet Banking. When I phoned I was informed that they had data sugesting that I had 'GONE AWAY' When I pointed out that I was most definately still here they just fobbed me off!! LOL

zppp

Flyboy152 wrote: »

I think this is the operative term.

Hence why I posted it. The thing is nothing says that they have to disclose the reason for making this decision. This is likely to happen where there is a fraud suspicion or risk identified. In such cases, organisations have a legal obligation not to tip off the customer in any way.

If someome wants to know the reason for a bank closing their account, if they go to FOS, by the cases I read on the link I posted, if it is as a result of discrimination, compensation may be offered. Whereas for fraud/money laundering suspicions they are not allowed to disclose this under SOCA rules.

Almost certainly the OP has had their account access withdrawn due to suspicions of fraud or money laundering. It may not be on their part - it might be that they recieved a deposit from someone confirmed as committing fraud, as banks do talk to each other re fraud.

usalim

I have read all the comments posted in reply to my situation and thank you to all those who helped.

There were only small routine transactions on this account and I can explain every single one of them if the bank had any doubts about any one of them even though i still am struggling really hard to find something which the bank may have found even slightly suspicious.

I am following it up through complaints procedure to see if they will give me a clue why did they do it as this has never happened to me before and I am getting very concerened.

Does this affect my credit report in shape or form?