URGENT HELP needed Halifax close my accounts won't say WHY??

WestonDave

Mike - technically correct, but he/she hasn't actually got a letter yet, just the account frozen. This is the paradox with the regs - you shouldn't inform the "suspect" anything, but it becomes pretty obvious that at some stage if they come asking for money and you can't hand it over you have to say something!

Nidge30

Money Laundering?? Good grief, my salary is regularly paid in nothing at all UNUSUAL in that... they're stealing surely?

Nidge30

All they would say when I rang was a letter had been sent out explaining situ, and that a 'risk assessment' meant they were closing the account. My salary was deposited by BACS this morning which they accepted, didn't reject? I will lose my job, no cash = no petrol = can't drive the 30 miles to work. I'm an electrician....in my 50's.

System

WestonDave wrote: »

Mike - technically correct, but he/she hasn't actually got a letter yet, just the account frozen. This is the paradox with the regs - you shouldn't inform the "suspect" anything, but it becomes pretty obvious that at some stage if they come asking for money and you can't hand it over you have to say something!

I assume these money laundering regulations also stipulate what compensation a falsely accused individual is entitled to once it has been proved that the financial organisation has made a serious mistake.

And if they never admit to the individual that their account was frozen due to these regs. then how can the individual take action to recover their losses and clear their record.

P.S.
OP - It is worth reading this FOS article : http://www.financial-ombudsman.org.uk/publications/ombudsman-news/48/banking-closing-accounts.htm

Nidge30

WELL - An outcome!

Went into HALIFAX Branch. A couple of weeks ago an online offer had appeared for an Ultimate Reward Account, which I'd gone for. Had a letter a week ago saying they were processing application.

Apparently what happened was they 'opened the account' and then for some reason they declined it, they froze that 'declined account' and froze it. But in doing so they closed all of my accounts - no warning.

They have admitted it was their error, and that someone should have closed the declined 'Ultimate Reward Account' and left my usual account alone.

Still feel like withdrawing ALL cash and moving away!

Horrible horrible experience. Thanks for all your advice here.

Andystriker

Might be worth starting an official complaint. They might give you £50? Opinions4u would be better to give you advice on whether this would be worth your while.

opinions4u

Andystriker wrote: »

Might be worth starting an official complaint. They might give you £50? Opinions4u would be better to give you advice on whether this would be worth your while.

They've messed up. Ask, and I would expect the OP to get compensation.

£50-£100 sounds about right.

chanz4

go for £250 as its a serious complaint, which could have major impact

System

I suggest you open up another current/basic or even card based savings account elsewhere (not Halifax/ Lloyds) incase something similar happens again or their systems are down etc

The above applies to anyone, but especially since you say the lack of an account might cause the loss of your job :eek:

Nidge30 wrote: »

WELL - An outcome!

Went into HALIFAX Branch. A couple of weeks ago an online offer had appeared for an Ultimate Reward Account, which I'd gone for. Had a letter a week ago saying they were processing application.

Apparently what happened was they 'opened the account' and then for some reason they declined it, they froze that 'declined account' and froze it. But in doing so they closed all of my accounts - no warning.

They have admitted it was their error, and that someone should have closed the declined 'Ultimate Reward Account' and left my usual account alone.

Still feel like withdrawing ALL cash and moving away!

Horrible horrible experience. Thanks for all your advice here.

callum9999

chequeout wrote: »

Hi there,

I had a similar thing a few years ago with Natwest, they decided to close my account even though I had a balance of several hundred pounds. They wouldn't say why and also said a letter was in the post.

When the letter arrived it gave no information away - in fact it said they are under no obligation to give a reason and are not willing to give details.

Therefore, I'd do the following ASAP:

- CLOSE your account and withdraw your balance in cash. Yes, a lot of cash to carry around / keep at home, but at least you know you have your hands on it which may ease the worry.

- OPEN another account asap so you can pay this cash into it.

And, when all is set up, go into your ex-bank and ask how you can pay half a million into your account (say you have had an inheritance...) Give them your old account number etc. Then, when they see the problem, say "whoops, I forgot - sorry, it will have to go to my new bank account..... Yes, a bit pathetic, but to see the look on the Natwest customer service agent's face when I did that when I had a few mins to kill one day was well worth it!!

Pretty sure they were just shocked at the amount and couldn't care less that you left and banked with someone else - why would they? It's got nothing to do with them and will have zero affect on their wages etc.