My Dads Halifax and Bank of Scotland accounts closed for the free £5 ?

Ed-1

anoncol wrote: »

London has over 10 branches, and manchester even has over 5!

Are you sure that's not RBS?

Carnival789

i cant see how discussing this here is likely to affect the policy of a huge corporate entity like a bank. if it did, it would have happened years ago as there are countless threads on here dedicated to people maxing out high interest current accounts.

yes, they may well be reading what is posted here but we are probably flattering ourselves if we think that anything that has been said here was not already thought of by the banks themselves ages and ages ago!

an official word from the Lloyds spokesman would be very useful, but i suspect its highly unlikely that they will give us a helping hand in that respect!

colsten

Carnival789 wrote: »

i cant see how discussing this here is likely to affect the policy of a huge corporate entity like a bank

You have to think a bit, or a lot, deeper.

Countless, absolutely countless great deals have been killed over the years by what is known as the "MSE massive". Businesses can only afford so many customers taking up their special offers / loss-leaders.

A concentrated 'assault' by tens or even hundreds of thousands of MSEers will of course affect the policy of huge corporate entities. Naturally, none of them will say "I have just read x on MSE...therefore we need to do y" but they will very quickly notice by other means whether their offer etc. remains affordable and/or profitable.

eskbanker

colsten wrote: »

You have to think a bit, or a lot, deeper.

Countless, absolutely countless great deals have been killed over the years by what is known as the "MSE massive". Businesses can only afford so many customers taking up their special offers / loss-leaders.

A concentrated 'assault' by tens or even hundreds of thousands of MSEers will of course affect the policy of huge corporate entities. Naturally, none of them will say "I have just read x on MSE...therefore we need to do y" but they will very quickly notice by other means whether their offer etc. remains affordable and/or profitable.

"Killed" seems a bit strong - given the lack of any clear evidence of direct causality, surely all that can be said is that the withdrawal of some great deals over the years may have been influenced to a greater or lesser extent by what is known as the "MSE massive"? Even then, chances are it's the weekly email that has the greatest influence with its claimed 10 million circulation rather than the forum with somewhat more modest membership....

anoncol

IanManc wrote: »

There are no Bank of Scotland branches in London or Manchester.

The only two Bank of Scotland retail branches in England are in Wooler and Berwick-upon-Tweed.

There used to be a Bank of Scotland branch in Manchester, in Spring Gardens, but it closed down a few years ago. It was the only one - there were never five Bank of Scotland branches in Manchester.

Royal Bank of Scotland and Bank of Scotland are not the same thing .......

I didn't realise we weren't talking RBS.

colsten

eskbanker wrote: »

"Killed" seems a bit strong

I mean killed because that's exactly what has happened over the years and it's still happening. I'll not go into detail but those affected will know the sorts of offers and deals I am referring to. I agree, a lot will be due to the weekly email but don't underestimate the power of the forum lurkers (which includes non-MSE journalists who graze on ideas from here).

anotheruser

I never understand why people moan about this.

Many of us cycle the required amount of money in and out of accounts to earn some sort of bonus, usually a "free" £5.
Let's face it, you can lie to yourself all you want with the "meeting the requirements of the account" line but it is abuse of the banking facilities. They are giving away free £5 to people to use their services.

I will expect mine to be closed at some point in the future. Until then, I try to keep my head down and hope they don't notice how neat my statement is when auditing accounts.

anoncol

anotheruser wrote: »

I never understand why people moan about this.

Many of us cycle the required amount of money in and out of accounts to earn some sort of bonus, usually a "free" £5.
Let's face it, you can lie to yourself all you want with the "meeting the requirements of the account" line but it is abuse of the banking facilities. They are giving away free £5 to people to use their services.

I will expect mine to be closed at some point in the future. Until then, I try to keep my head down and hope they don't notice how neat my statement is when auditing accounts.

I like your "neat" description of your account .

dr_adidas01

I think you must be confused there are no Bank Of Scotland Branches in Manchester when I opened my accounts nearly 5 years ago I had to go into a Halifax branch to sort it all out.

There are at least 5 RBS branches in manchester maybe this is what you are confused about?!?

7sefton

As this issue is obviously causing some concern (and also is a potential argument against the 'use current account as savings accounts/interest income boosters' argument advocated by MSE and elsewhere), is there any way for Martin Lewis to ask Lloyds Banking Group if they are auditing all accounts and closing those that are used mainly to benefit from interest/rewards?