Urgent advice please

MoneySaverLog

Something has got the bank concerned. It's the first place I would go looking if I was in his shoes. It may be fine, but also it may be worth checking to be sure someone else did not put one there.

It may also highlight other irregularities.

dung_a82

MoneySaverLog wrote: »

The only reason I can think of a bank closing an account like this is if they believe he's defrauding them, or someone else, in some way.

If it's because they believe that he is involved with fraud then the bank could put a CIFAS marker on at the CRA which will block him from getting the most basic bank account. Any bank accounts he may already have may be closed too if the banks hear about it (like what may be happenning here).

Could they suspect fraud elsewhere other than on his account or could there already be such a marker that he may not be aware about? I'm not saying he is defrauding them, but it's possible it could have been put on in error by someone unrelated to the bank and they have since discovered this.

Has he checked his credit file at the 3 CRA's?

With my case, I could confirm that definitely no CIFAS, nothing affects to my credits as well as other bank accounts (Barclays, Halifax, Santander). I could open Barclays business + personal account + commercial credit card (£10K limit) and Santander personal bank account in July. IN Agust, my HSBC personal credit card limit raised automatically £1500 more.

However, at the time when I came to argue, complaint at the branch, I do not have to speak to any fraud department or so. The best explanation the branch could give is inconsistency to what they expected in a personal bank account (some large cash deposits along with a large payment straight away to my off shore bank account - also with HSBC, which holds more than £100K and it was not closed lol). After I pointed out same transactions every month in my business bank account and explained that I intended to use the money for personal purpose (buying property abroad), then the manager said it maybe because I violate T&C by using personal bank account for business and repeat of "the inconsistency to what HSBC expects of a personal bank account". Hic, he is the one who signed my letter and he said "maybe"...

I understand that banks wish to avoid potential penalty from government if money laundering activities are found out. But then to not listen and treat customers as if they are criminals is unacceptable..