jkg kjh khkh lhl lh lkh

makeyourdaddyproud

Sadly, there's this:

http://m.bbc.co.uk/news/business-18540832

grumbler

BMN wrote: »

I'm being absolutely serious.

You can close your bank account without any reason.
They can close your bank account without any reason.
It does work both ways?

Yes, but with 60 days notice from the bank as per the T&C, not 30 days.

DCFC79

Just move the account elsewhere.

innovate

Might not be so easy if there is a CIFAS marker.

DCFC79

innovate wrote: »

Might not be so easy if there is a CIFAS marker.

To get another account you mean ?

No I guess not.

makeyourdaddyproud

DCFC79 wrote: »

To get another account you mean ?

No I guess not.

This is why it's paramount to go for CIFAS Protected Registration, even for the £20 charge.

simax

makeyourdaddyproud wrote: »

Sadly, there's this:

http://m.bbc.co.uk/news/business-18540832

Jesus.

I hope he took the £1000 them told them to shove their facilities up their ar5e.

JuicyJesus

grumbler wrote: »

Yes, but with 60 days notice from the bank as per the T&C, not 30 days.

In case of suspected fraud or such the bank has the right to close immediately or with shorter notice than 60 days, and there are numerous FOS ombudsman's decisions confirming that this is acceptable so long as it is done for valid reasons (which the Ombudsman Service can and will be privy to should a complaint be escalated to them, but they will not be obliged to share these with the complainant as they are also subject to tipping-off regulations).

Unfortunately the Ombudsman Decisions website is being slow at the moment so I can't link to any cases, as soon as it's up I'll link some.

grumbler

I thought that 'tipping-off regulations" were for ML only, not for suspected fraud. And only for the time of investigation (that does make some sense), not for the resulting account closure.

JuicyJesus

grumbler wrote: »

I thought that 'tipping-off regulations" were for ML only, not for suspected fraud. And only for the time of investigation (that does make some sense), not for the resulting account closure.

You are not allowed to tip off that someone is, was or ever has been suspected of money laundering or subject to a disclosure to SOCA. Ever. Not while the account is open, not after it's closed.

As for it being for fraud, you are right that there are no specific regulations regarding tipping off for it, but the banks and the FOS have agreed that there are good reasons not to disclose information about such things. The FOS will for instance withhold certain information or entire decisions (which they now publish publicly) where it could be useful to fraudsters.