Lloyds and Halifax Closing my Accounts?

JackLadder

I currently have a Club Lloyds current account, and Regular Saver, I also have a Reward account with Halifax. All accounts have been run well, never overdrawn, always in credit. The Club Lloyds account is used as my main current account.

EDIT: Club Lloyds Monthly Saver, not Regular Saver, although I don't think that will matter.

Today, I received two letters, both from Lloyds Banking Group, telling me that they are closing all of my accounts, on a given date, and if I apply for any accounts with them before that date, they will be closed on that date, and any applied for after it will be closed at short notice. Both letters were the same information, just slightly different wording, one from Lloyds, the other from Halifax.

I have no debts on my credit record, nor have I ever, and I've not applied for any products with anyone recently.

I phoned Lloyds' customer services, was told there's nothing on their system that they can see that would cause Lloyds to decide to close all my accounts with them. They said the account closures department may be able to help, but are not currently in. I will visit the branch and call them on Monday.

Please could anyone offer any help or advice?

Thanks,
Jack.

anotheruser

My advice: wait until Monday.

Graham1

If you have been shuffling money backwards and forwards between Lloyds and Halifax to meet the minimum pay in requirements of each I could understand them objecting since Lloyds, BOS and Halifax are all the same bank.

SevenOfNine

Graham1 wrote: »

If you have been shuffling money backwards and forwards between Lloyds and Halifax to meet the minimum pay in requirements of each I could understand them objecting since Lloyds, BOS and Halifax are all the same bank.

Unlikely surely. We've been shuffling between 2 x Lloyds, 1 x Lloyds Monthly Saver & 1 x BoS for AGES without being booted out!

Archi_Bald

JackLadder wrote: »

Please could anyone offer any help or advice?

We don't know what kind of transactions went through the accounts. One common reason for banks closing current accounts seems to be that people breach the T&Cs by using personal accounts for business purposes. But it could be anything, including a mistake. You need to talk to them.

MABLE

JackLadder wrote: »

I currently have a Club Lloyds current account, and Regular Saver, I also have a Reward account with Halifax. All accounts have been run well, never overdrawn, always in credit. The Club Lloyds account is used as my main current account.

EDIT: Club Lloyds Monthly Saver, not Regular Saver, although I don't think that will matter.

Today, I received two letters, both from Lloyds Banking Group, telling me that they are closing all of my accounts, on a given date, and if I apply for any accounts with them before that date, they will be closed on that date, and any applied for after it will be closed at short notice. Both letters were the same information, just slightly different wording, one from Lloyds, the other from Halifax.

I have no debts on my credit record, nor have I ever, and I've not applied for any products with anyone recently.

I phoned Lloyds' customer services, was told there's nothing on their system that they can see that would cause Lloyds to decide to close all my accounts with them. They said the account closures department may be able to help, but are not currently in. I will visit the branch and call them on Monday.

Please could anyone offer any help or advice?

Thanks,
Jack.

One crumb of comfort is they have given you notice of closure. Based on that I assume they do not suspect any kind of fraud.

Uxb

I'd go with @archibald's suggestion - breach of T&C's somewhere.
or lots of cash transactions or receiving/sending money to/from accounts in countries where the bank has suspicions and would rather not do business with.

YorkshireBoy

Could be another bank has registered a CIFAS marker on your FPA/CRA files?


Or maybe you've been 'doubling up' (your interest) by taking advantage of banks' differing cut-off times?

JackLadder

Thank you for you replies everyone.

I've been shuffling money between the accounts to meet the deposit requirements, yes. Lloyds and Halifax have never directly interacted with each other, which was intentional in case they objected to that.

I haven't used any accounts anywhere for business transactions, I don't know what they might think looks like a business transaction, so it could be a mistake there.

The last time I deposited cash was months ago, and I don't think I have ever deposited a cheque with Lloyds or Halifax.

I've read through the terms and conditions briefly, and can't find anything I've broken.

I've never done any foreign transactions in any account, so it won't be that.

I know about "doubling up" interest with different cut off times, but I didn't do it because I suspected the banks would object to it.

Last time I checked Noddle, there were no CIFAS / fraud markers. Depending what happens Monday, I may start a free trial of Equifax (already done Experian trial) and see if there's anything not on Noddle.

Thank you for your replies.

Jack.

Ed-1

JackLadder wrote: »

Thank you for you replies everyone.

I've been shuffling money between the accounts to meet the deposit requirements, yes. Lloyds and Halifax have never directly interacted with each other, which was intentional in case they objected to that.

I haven't used any accounts anywhere for business transactions, I don't know what they might think looks like a business transaction, so it could be a mistake there.

The last time I deposited cash was months ago, and I don't think I have ever deposited a cheque with Lloyds or Halifax.

I've read through the terms and conditions briefly, and can't find anything I've broken.

I've never done any foreign transactions in any account, so it won't be that.

I know about "doubling up" interest with different cut off times, but I didn't do it because I suspected the banks would object to it.

Last time I checked Noddle, there were no CIFAS / fraud markers. Depending what happens Monday, I may start a free trial of Equifax (already done Experian trial) and see if there's anything not on Noddle.

Thank you for your replies.

Jack.

What was the exact wording of the letters? Was there anything about a 'risk assessment'?

JackLadder

Ed-1 wrote: »

What was the exact wording of the letters? Was there anything about a 'risk assessment'?

Lloyds

"We often review accounts to ensure that we can continue to support our customers with their banking needs and following a review of your account, we are writing to let you know that unfortunately, we're unable to maintain a banking relationship with you"

The Halifax one is almost identical, but "banking facilities" as opposed to "banking relationship" nothing about risk or risk assessment on either.

Thanks,

Jack.