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hypothetical Q - when a bank closes an account
Maestro.
Posts: 1,518 Forumite
I've been reading here the occasional thread that pops up about banks terminating accounts due to suspected fraudulent activity, etc.
Now, obviously I appreciate it's rare, but mistakes can and do happen... so, if a bank does close the account, do you get the money back, or do they just swallow it all?
I've had my account for years and I like my bank but I'd be devastated if for some reason the account was closed as I have some savings starting to build up.
I'm not a fraudster or anything like that and have good terms with the bank, I am just curious.
Now, obviously I appreciate it's rare, but mistakes can and do happen... so, if a bank does close the account, do you get the money back, or do they just swallow it all?
I've had my account for years and I like my bank but I'd be devastated if for some reason the account was closed as I have some savings starting to build up.
I'm not a fraudster or anything like that and have good terms with the bank, I am just curious.
Oh, you wee bazza!
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Comments
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If your account is in credit they'll close the account and move that money into a holding account until you claim it from them.
They can't just nick off with your money because they dont want you as a customer anymore.0 -
It depends very much on why the banks close your account.
For instance, if you are Mrs Asma Assad, or Mrs Safia Gaddafi, there's a good chance you won't ever see a penny of your money again. Same if you are M. Oney-Launderer. Some government or Court will have told the bank to freeze your assets.
If you are just an unfortunate Joe Bloggs who the bank want to get rid of for their business reasons, they must give you every penny of your money. I haven't seen too many reports, though, that accounts had been closed when they were in credit.0 -
Fair enough, thanks for the answers. I'll just re-iterate that I have NOTHING suspicious going on, no CIFAS markers or anything, I don't launder money and my bank account doesn't get near £0 at all... I was just wondering is all.Oh, you wee bazza!0
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I suspect with a lot of the "bank closed my account" threads on here the OP omits rather a lot of relevant detail.
Banks don't forcibly close accounts in credit without a very good reason.
There was one I saw where I spent a lot of time looking at the poster's previous posts going back several years - something I suppose the OP did not think other posters would bother to do. From the number of alleged peculiar happenings reported on the account I came to the conclusion that the bank was probably quite justified in closing the account.
There was another one where the problem seemed to be related to overseas dealings but despite other posters asking directly on several occasions with which country was the OP receiving money to/from the OP seemed unwilling to reply.
Then there are the trolls who invent such issues and post them on forums such as these.....0
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