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BBC Watchdod: Banks freezing out innocent customers and blacklisting them
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Thrugelmir wrote: »Amazes me the number of active current accounts that some people deem it necessary to have. So the suspicion will be that individuals are out to deceive. Closure of accounts which aren't operated in a "normal" manner will more than likely come under increasing scrutiny.
How can banks be suspicious of something they actively encourage? By offering reward bonuses for joining them, and interest rates / rewards if you deposit £X per month or maintain a balance over £Y, they're encouraging people to move their money between lots of different accounts.
Throw cashback websites into the mix and you can get joining rewards for opening accounts you normally wouldn't be rewarded for.
It's not a crime to take advantage of the various rewards offered by bank accounts.What will your verse be?
R.I.P Robin Williams.0 -
Thrugelmir wrote: »Amazes me the number of active current accounts that some people deem it necessary to have. So the suspicion will be that individuals are out to deceive. Closure of accounts which aren't operated in a "normal" manner will more than likely come under increasing scrutiny.
This is complete and utter tosh. You don't get accounts closed/locked because of the number of accounts you have. You get accounts closed/locked because of suspicious transactions that happen on your account(s). As you will find, the people who report their accounts locked find themselves suddenly without access to money because it was their only account that got locked.
Could you explain what you mean by operating an account in a "normal" manner? Who defines what "normal" operation is? Who polices that "normal" operation?
Who is it who is to be deceived?
It is preposterous, and potentially libellous, to suggest that people with many active current accounts are "out to deceive".0 -
Could you explain what you mean by operating an account in a "normal" manner? Who defines what "normal" operation is? Who polices that "normal" operation?
The sort of account conduct you'd expect to see on a personal account, based on what the bank know of the customer's circumstances = normal.
It's rather a "know it when you see it" type judgment.urs sinserly,
~~joosy jeezus~~0 -
B******s. Complete and utter such.
As long as I comply with the T&Cs for the account in question, I can have unfettered use of as many accounts as I want, and so can anyone else.
There is no judgement call to be made on the way the account is used by anyone in any bank. Even if there are some little Hitlers who would love to decide what is "normal" and what is not. And thank god, the times of the all powerful Bank Branch Manager are long behind us (sorry to those who can't remember what a ludicrous situation that was).
Banks are perfectly entitled to stipulate in their T&Cs that you can only have x number of a certain account from their portfolio of offerings - plenty of examples of that about (Nationwide, Halifax, Lloyds, BoS etc). They would be treading on extremely thin legal ice if they took it upon themselves to dictate that you are not allowed to have an account with them if you also hold an account with one of their competitors. In fact, they would become an international laughing stock if they did that, and that, if nothing else, will ensure it will never happen.0 -
JuicyJesus wrote: »The sort of account conduct you'd expect to see on a personal account, based on what the bank know of the customer's circumstances = normal.
It's rather a "know it when you see it" type judgment.
This is correctB******s. Complete and utter such.
As long as I comply with the T&Cs for the account in question, I can have unfettered use of as many accounts as I want, and so can anyone else.
This is incorrectThere is no judgement call to be made on the way the account is used by anyone in any bank. Even if there are some little Hitlers who would love to decide what is "normal" and what is not. And thank god, the times of the all powerful Bank Branch Manager are long behind us (sorry to those who can't remember what a ludicrous situation that was).
This is incorrect , and ofcourse some of the non mainstream banks still have the "all powerful Bank Branch Manager" eg Handelsbanken and Norn Iron Banks (except Ulster Bank)Banks are perfectly entitled to stipulate in their T&Cs that you can only have x number of a certain account from their portfolio of offerings - plenty of examples of that about (Nationwide, Halifax, Lloyds, BoS etc). They would be treading on extremely thin legal ice if they took it upon themselves to dictate that you are not allowed to have an account with them if you also hold an account with one of their competitors. In fact, they would become an international laughing stock if they did that, and that, if nothing else, will ensure it will never happen.
This is incorrect , although I understand that your experience is with the major English Banks (who have a "pile them high" approach)Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
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Dr_Cuckoo3 wrote: »This is incorrect , and ofcourse some of the non mainstream banks still have the "all powerful Bank Branch Manager" eg Handelsbanken and Norn Iron Banks (except Ulster Bank)
Luckily those are a tiny minority, and nobody can force anyone to have an account with them. [Out pop the Handelsbanken support two customers]0 -
Luckily those are a tiny minority, and nobody can force anyone to have an account with them. [Out pop the Handelsbanken support two customers]
yes they are a tiny majority customer wise , although banks like Handelsbanken are in the majority in terms of the number of individual banks , but with a minority of the UK population banking with them (and they do not approve of accounts being held with other banks) nor do Norn Iron banks
For the "pile them high" English banks catering for mass produced sheep , I suppose it is useful to know how the software worksHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
We've heard recently on this board from customers who have had their accounts frozen for no justified reason, and then closed. Whilst I accept that all banks have the right to close an account in their terms and conditions, I'm beginning to wonder if they're suspending accounts as a punitive measure in the secure knowledge that they don't have to justify this action.0
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We've heard recently on this board from customers who have had their accounts frozen for no justified reason, and then closed.
This is true but when you get to the nub of the problem with those OPs we often find that they HAVE been operating the account outside the Ts&Cs or what would appear to be the case. A flurry of Ebay deposits can look like business use and its hard to tell the difference between an innocent closet clearing exercise and a dealer.Whilst I accept that all banks have the right to close an account in their terms and conditions, I'm beginning to wonder if they're suspending accounts as a punitive measure in the secure knowledge that they don't have to justify this action.
That may of course be true, but it wouldnt seem to be in their interests to just randomly close accounts for no reason at all.Debt Free! Long road, but we did it
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