Hi, can my bank just close my account without explanation!

bengal-stripe

jhinox wrote: »

.........i transfer funds every month into my overseas account..........

What sums and what destination country are we talking about? The bank might suspect money laundering.

http://www.hmrc.gov.uk/mlr/getstarted/intro.htm

jhinox wrote: »

.............would not give me an explanation!

If money laundering is suspected, the bank is not allowed (by law) to give you any information about their suspicion.

jules6810

jhinox wrote: »

thanks jules, can i ask if they gave you your money out of the account

I had a letter to tell me, so I have moved my money out of it before the 60 day notice, I received my letter Saturday, had the money moved within an hour!! I have now managed to move all my direct debits, so its been a pain but have sorted it quickly.

iereboy

Don't even bother to ring. No amount of screaming or I want to speak to a manager will give you an answer.

You will not be given any information. Closing an account is not taken lightly and they want to be rid of you ASAP.

Appeal if you want. A letter should have come to you.

As harsh as this sounds, they don't want your business. You have been flagged as a possible launderer, fraudster etc.

Which country do you do your "business" in?

So the answer to your question is Yes.

xylophone

https://forums.moneysavingexpert.com/discussion/3758633

twinkle10

Bank might have intimated you by email, or by post, courier and you didn't get that notice. It is not possible, bank would directly do so such thing.

jhinox

hi, thanks for all your help. It would appear I need to find a new account and write a letter to see why they have cancelled it and fight my innocence! just miss average with average job, average life and average amount of money - no drama here! making me paranoid but will just get back to uk and see how it goes x

crazycat188

There has been quite a number of similar complaints over the last three months. I have a blog that explains about what is going on but I am not allowed to post links on here as a new user. Basically, your case is not peculiar to you as there are more complaints by the day. As soon as you return, I would advise you check the CIFAS website and download a copy of the Subject Access form. Fill it and post it to them (they normally charge a fee of £10). They should be able to send you a report of what institution has you flagged down for fraud and then you can take it up with them. Also, it is worth reporting it to your local MP aswell so that they can raise this growing concern in Parliament. Also, I can tell you right nowfrom personal experience and with absolute certainty that Lloyds wont be of any help to you, infact, they will frustrate you with their technical answers that solve nothing. Also, the CIFAS will not agree to remove any information (even if it is found to be incorrect) they have about you from their database and will continously tell you to go to the institution that put it there in the first place. In addition, no other high street bank will agree to open an account for you as they all share information. You will be met with a dead, 'we are sorry but you do not meet our criteria...bla, bla,bla.' Its very frustrating I know but let me know how you get on with your fight. If you need more information about what you will be up against, just let me know. Goodluck

Ps If you find out that you cant get an account anywhere else (90% chance of that happening), dont panic, try cardonebanking.com (they operate under natwest so your money should be safe), they offer bank accounts to almost everyone as they dont carry out stringent checks although you have to pay a monthly fee of £12.50. I would advise not to jump from one bank to the other in trying to open an account though as this could affect your credit history in a negative way.