Lloyds & Halifax closing my account and credit cards

kingkhan9

Hello

Recently I received letters from Lloyds and Halifax that they are closing my current accounts and credit cards after some account review. They are not really giving me any reasons.

I really don't mind them closing, but they have to tell me the reasons.I am very disappointed with this. On top of it, I recently applied for Halifax credit card and they issued me and I have done a balance transfer, so I still got about 22 months 0% offer left. If they ask me to repay that now I will be in real trouble.

Can you guys help me to fight with this.

What are my rights?
Can I ask for the same 0% offer period to repay?
Are there an ways to stop closing this accounts?
Please kindly give me some advise.

By the way I don't have any history of illegal use etc. All I am doing is using both the accounts as my personal accounts and not for business at all
Thanks

jonesMUFCforever

You have no rights and they do not have to tell you why they made this decision.

As for the credit card if there is a debt on it they cannot close it.

Do you have any non Lloyds banking group accounts - any kind of transactions on any bank account that could be construed as suspicious?
Check your credit reports especially to see if there is a CIFAS marker on there.

Everynamestaken

kingkhan9 wrote: »

Hello

Recently I received letters from Lloyds and Halifax that they are closing my current accounts and credit cards after some account review. They are not really giving me any reasons.

I really don't mind them closing, but they have to tell me the reasons.

Sorry I cannot be much help on this matter, but with regards to what I have placed in bold font, do they actually have to tell you the reasons?

Do you have a slight idea at all to what the reason relating to there review could have been?

Gromitt

jonesMUFCforever wrote: »

As for the credit card if there is a debt on it they cannot close it.

Under certain extreme circumstances they can close the account and demand full payment, but they will obviously follow legal requirements if they do this.

Alternatively they may prevent further spending, and request you to return any issued cards to them. In this case you are still required to make at least the minimum payments.

If they have closed your current accounts, I'd expect them to do the later in regard to your credit card.

They don't have to give you any reasons as to why they have decided to close your accounts.

grumbler

jonesMUFCforever wrote: »

You have no rights and they do not have to tell you why they made this decision.

Gromitt wrote: »

They don't have to give you any reasons as to why they have decided to close your accounts.

For an immediate closure this is arguable. If this were the case, there would be no point in listing in the T&C a separate set of reasons for the immediate closure as against a closure with, say, a month notice that isn't stipulated by any reasons.

FireWyrm

Hmm...any payments to or from India, especially large amounts of cash recently?

If they 'cant tell you', it's money laundering regulations or, you are doing business on a personal account. Either way, it sounds like they smell fraud.

There is nothing you can do about it. The problem now is that other banks are likely to follow suit and pretty soon, you wont be able to get more than a post office basic account.

grumbler

FireWyrm wrote: »

Hmm...any payments to or from India,

What's wrong with *any* payments?

especially large amounts of cash recently?

How can they know that cash is from India?

it sounds like they smell fraud.

Yes, but pretty often paranoiacs/schizophrenics see/hear/smell something that doesn't exist in the real world.

There is nothing you can do about it. The problem now is that other banks are likely to follow suit and pretty soon, you wont be able to get more than a post office basic account.

Doing nothing is the worst an innocent one can do in these circumstances. At least it's worth complaining wherever possible and trying to find the reason behind this - if this reason really exists.

Hominu

I'd expect an instant closure (rather than writing a letter saying they'll be closing your account within 30 days) is either suspected money laundering or fraud, in which case they can't tell you the reason.

grumbler

Hominu wrote: »

I'd expect an instant closure (rather than writing a letter saying they'll be closing your account within 30 days) is either suspected money laundering or fraud, in which case they can't tell you the reason.

And this was my point in my first post. If they can't tell the reason then it makes no sense to list the reasons in the T&C. It would make much more sense just to say that they can close the account with or without notice whenever they want.

kingkhan9

jonesMUFCforever wrote: »

You have no rights and they do not have to tell you why they made this decision.

As for the credit card if there is a debt on it they cannot close it.

Do you have any non Lloyds banking group accounts - any kind of transactions on any bank account that could be construed as suspicious?
Check your credit reports especially to see if there is a CIFAS marker on there.

I do have other non Lloyds banking group account, but to be honest, there was nothing suspicious. All it is normal pay every month I receive.

Also checked my credit report on CallCreditCheck and there are no CIFAS either

kingkhan9

FireWyrm wrote: »

Hmm...any payments to or from India, especially large amounts of cash recently?

If they 'cant tell you', it's money laundering regulations or, you are doing business on a personal account. Either way, it sounds like they smell fraud.

There is nothing you can do about it. The problem now is that other banks are likely to follow suit and pretty soon, you wont be able to get more than a post office basic account.

There was no payments made to India or any other country from this account. Also cannot really understand why you picked India in specific. I can understand that there will be a problem if you are receiving money from India, but what is wrong in sending it to India. Bit surprised here.