how long before bank can close your account?

Anthorn

juanmanuelmarquez wrote: »

what do you mean banks turn over money to gov?

http://www.guardian.co.uk/society/2012/apr/04/david-cameron-big-society-fund

meer53

Dormant accounts cost a bank money which is why they are monitored. Where i work, if a dormant account has a credit balance and we close the account, a cheque is issued to the customer. If the customer calls in response to our dormancy letters, we can action a transfer to another account if there is a credit balance and the customer asks to close it.

To say people are never refunded is a load of rubbish.

innovate

meer53 wrote: »

To say people are never refunded is a load of rubbish.

Absolutely. If you have proof that you are the rightful owner, you get your money.

Anthorn

dalesrider wrote: »

I would not expect any bank to do anything for at least 12 months.

3.29 If the Current Account has not been used in a one
month period, we will contact you to ask whether
the Current Account is to be closed or remain
open. If we do not receive a reply after one month
from this date we may close your account. The
funds in the Current Account remain your
property, or if you die, the funds will become part
of your estate, no matter how many years have
passed.

T&Cs, Secure Trust Bank

Something of an eye-brow raiser but looks fair enough to me. Always best to read the T&Cs whichever bank you use.

nicpicot

juanmanuelmarquez wrote: »

how long is it before the bank can close your account for inactivity?

is it 6 months? 1 year? 3 months? 2 years?

barclays terms state 12 weeks notice however they closed our account with no reasonable notivce less than 10 days! no reason as they maintain it iis a secret. EWe have a positive cash balance in current and deposit accounts.

nicpicot

just waiting for my credit reports to arrive. Then I will sue Barclays as we have no bank account at the moment. I will have to trade as another trader and loose gross profit. I hope the judge understands the problem and he can force the secret answer out of Barclays.

nicpicot

my little claim of a few hundred quid is a mere drop in comparison to their scandulous millions of pounds worth of mismanagement and bad activity.

nicpicot

finally the balance on our accounts was not sent to the account specified both in writing and confirmed verbally. Beware the Barclays manager who makes mistakes and does not have any fiduciary care.

juanmanuelmarquez

its funny how everyone has had issues with barclays and it is the bank that is bought up by everyone so far, well funny enough the reason why i asked in the first place was my dad had a barclays and he said he didnt use it, doesnt know exact time only knows a few months, so could be 3, or 6? hence the question and everyone else seems to have faced the same issue! they closed the account with absolute no warning!

what happened was after a few odd months, dad went to withdraw £30-£40, but the card wouldnt accept in the ATM, so they asked the cashier and she said it had been closed so speak to the banking advisor. had to arrange an appintment for a week later. spoke to the banking advisor and he said the account had been closed due to inactivity and we would have to re set a new one. so they had lost the £100 odd in the account. when it come to re-opening a new account it would not open! thats barclays for you...so wondering how do we get the money back? they havnt sent no statements for 6 months so no evidence other than a paying in book, but they said its not enough evidence as we could have withdrawn whatever was in the bank. we were thinking of contacting the financial ombudsmen to find out what to do but havnt had the time to investigate just yet so thought may as well just post a question up and find out roughly how long before they can shut the account, as they didnt give us any notice we had to find out the hard way!