Lloyds and Halifax Closing my Accounts?

colsten

JackLadder, there is still a possibility that it was just a mistake (mistaken link to someone of same name etc). If I were you (which I am not, obviously, lol), I would insist on them telling me why they are closing my account. I would take it as far as the CEO, and if I wasn't given a satisfactory answer by Lloyds Group, I would take it to the FOS, and/or the Press.

JackLadder

colsten wrote: »

JackLadder, there is still a possibility that it was just a mistake (mistaken link to someone of same name etc). If I were you (which I am not, obviously, lol), I would insist on them telling me why they are closing my account. I would take it as far as the CEO, and if I wasn't given a satisfactory answer by Lloyds Group, I would take it to the FOS, and/or the Press.

I'm hoping that when I have a chance to contact them, hopefully tomorrow or Thursday, they'll say it was a mistake, or ask me to clarify something. Otherwise yes, I'll escalate everything as far as I can.

Thanks,
Jack.

grumbler

colsten wrote: »

.... I haven't even read past that first sentence in your last response.

I guess this applies not to the last post only - and explains everything.

I just hope people will not take your unfounded statements on what is "often" the reason for (rare) account closures as gospel, as you have just about zero evidence for your statements on this matter.

Yet again I can only repeat that it was a possible result, not a reason.
Later this result can become a reason for being unable to open new accounts.

Ed-1

colsten wrote: »

I am never wasting my time on anything pointless.

Which is why I haven't even read past that first sentence in your last response.

I just hope people will not take your unfounded statements on what is "often" the reason for (rare) account closures as gospel, as you have just about zero evidence for your statements on this matter.

In the context of nationally, account closures enforced by banks will be rare simply because most people don't have that many of them (most will have just 1 account) and will use their account for very normal things such as paying bills and spending.

People on MSE are in a very small percentage of the national population that like to 'play banks at their own game' and banks don't like it (if they notice it). The problem with this is that it's not an even playing field: banks have the power to essentially do what they like and it's the customer that is always going to be playing catch up or in the worst case scenario be blacklisted from banking facilities (and it can and does happen a lot more often than it should). One way of getting rid of unprofitable customers is to close their accounts which all banks reserve the right to do under their terms and conditions.

All banks have monitoring teams to monitor and review accounts and if such an unprofitable customer draws attention to themselves in some way, they are risking their accounts being closed. For example, I've known Lloyds group decline an application (which funnily enough was only being opened as a donor account for switching) and then decide to close existing accounts as well due to credit risk (i.e. if you don't meet our criteria for a new account, you also no longer meet our criteria for your existing accounts).

Obviously account closures can also be a result of suspected fraud and often, when a bank decides to close a customer's accounts for any such suspicions they will leave a marker somewhere as they see it as their duty to warn other lenders. CIFAS is a very easy way out and there are many stories (it has even been debated in parliament) where completely innocent customers have been blacklisted as a result of a CIFAS warning.

The sad thing is that banks will invariably not give a reason for their decision and customers will be left in the dark until, in the case of the latter, they find that other banks close their accounts or decline applications as a result of some hidden marker that the customer was not made aware of.

Ed-1

colsten wrote: »

JackLadder, there is still a possibility that it was just a mistake (mistaken link to someone of same name etc). If I were you (which I am not, obviously, lol), I would insist on them telling me why they are closing my account. I would take it as far as the CEO, and if I wasn't given a satisfactory answer by Lloyds Group, I would take it to the FOS, and/or the Press.

The problem is if after a review, Lloyds determine that it isn't a mistake the FOS or anyone else for that matter are powerless to do anything about it as it is part of Lloyds' terms and conditions. The only thing you could (and should) argue your case about is if Lloyds has placed any unjust fraud markers against you or if the notice period is unreasonable.

MABLE

JackLadder wrote: »

Hi everyone, sorry the lack of updates.

I haven't had a chance to do anything yet - been unwell, but I *should* be able to visit Lloyds and / or phone them tomorrow or Thursday. Will keep you updated. No CIFAS marker on Noddle (do they update in real time on Noddle? Or with the monthly update?)

Thanks,
Jack.

Thanks for update Jack.

Noddle are always a month behind.

colsten

Ed-1 wrote: »

The problem is if after a review, Lloyds determine that it isn't a mistake the FOS or anyone else for that matter are powerless to do anything about it as it is part of Lloyds' terms and conditions. The only thing you could (and should) argue your case about is if Lloyds has placed any unjust fraud markers against you or if the notice period is unreasonable.

That's absolutely fine, any company can tell people that they do not want to do business with them. What isn't fine is if the companies p-u-s-s-y-futs (*) about it by saying they can't tell you why they don't want your business and leave you - not least with the added courtesy of some posts on some internet forum (not that I would want to mention grumbler) - with the terrible feeling that you might be a suspected fraudster or criminal, even though you know you are not.

(*) sorry, MSE forum software doesn't allow this term without dashes

SevenOfNine

Apologies if you've already said this JackLadder, do you have your D/D's set up? You are complying with the T&Cs of the accounts fully?

JackLadder

SevenOfNine wrote: »

Apologies if you've already said this JackLadder, do you have your D/D's set up? You are complying with the T&Cs of the accounts fully?

I didn't specify, but yes. I have had (at least) two Direct Debits for both from the start.

Jack.

MABLE

SevenOfNine wrote: »

Apologies if you've already said this JackLadder, do you have your D/D's set up? You are complying with the T&Cs of the accounts fully?

Even if Jack didn't that would have no bearing on closure of the accounts. He will never know until he contacts them.