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

joe134

badger09 wrote: »

I have always advocated this approach, though not necessarily each month.

When I applied via phone for all 3 lloyds A/cs, 3 TSB a/cs, and 3 BOS a/cs ETC,, I told them I don't require a debit card for all a/cs, only one, as I want them purely for saving as the rate is good,.
They said OK.No problem.I couldn't use a debit card if I wanted to, for all a/cs, plus it would be a right pain;;.
As I stated, I withdraw/and return monies/set up SO,s outside,, outside and within all A/cs, to show irregularity of A/cs, as I heard of this a while ago.
I looked at M&S a/c ,( current) this week, as I have just had their CC, and was going to switch one of my TSB Enhance A/cs,( empty) to get the £100 voucher and their RS. BUT, it stated, switch " my main A?C" which Tsb isn't, so I haven't.All banks use that term, but umpteen on here use other A/cs for the switching bonus, on a regular basis.Proving the money in all A/cs should be no problem, if it was electronically transferred from your other A/c, when opening.
One either waits, and takes their chance, or , jumps ship. There's no right answer. If you are a worrier, cash in, the small amount of gain isn't worth the worry. Me. I.m staying put, for a while.PS;; The thread OP was about Halifax/Bos, yet, all the letters seem from LBG, aren't they a different group??????

Herbalus

joe134 wrote: »

PS;; The thread OP was about Halifax/Bos, yet, all the letters seem from LBG, aren't they a different group??????

Halifax and BoS are part of the Lloyds banking group, which, funnily enough given the name, Lloyds are also part of!

Herbalus

Carnival789 wrote: »

So we are "potential risks" to their business eh?

This is a blanket phrase, which could refer to many reasons. If the closure is due to account 'abuse', it will simply mean their business model doesn't want such customers, and having them will put their business model at risk.

If you're talking about other risks, it could mean money laundering, it could mean they've just noticed the account holder is on the UK sanctions list or has been involved with transactions to North Korea, for example. Statistically unlikely, but I don't know the person involved so can't be 100% sure!

Or it could be a ruse to explain they simply don't want you for business reasons.

Yorkshire_Pud

What is the evidence for the account closures so far?

One person or rather his Dad so its a third hand report and we don't really know the circumstances!

On that basis many here are changing their banking regime to fit in with the supposed LBG crackdown reported by one person, or rather his Dad, in the whole UK!

Get a grip.

joe134

Yorkshire_Pud wrote: »

What is the evidence for the account closures so far?

One person or rather his Dad so its a third hand report and we don't really know the circumstances!

On that basis many here are changing their banking regime to fit in with the supposed LBG crackdown reported by one person, or rather his Dad, in the whole UK!

Get a grip.

these are just the few posted on here. who knows how many are actually affected.we will never know, BUT, the banks could not sustain paying these high rates forever, in a low rate economy, now they have enough customers.Why they just don't cut them like TSB/and lloyds from 3>1.5% instead.BOS cannot carry on forever paying 3%.on multiple a/cs that are not used.

joe134

Herbalus wrote: »

Halifax and BoS are part of the Lloyds banking group, which, funnily enough given the name, Lloyds are also part of!

Thanks H, I thought they had gone their separate ways.:beer:

Jsscmm

joe134 wrote: »

Thanks H, I thought they had gone their separate ways.:beer:

Lloyds banking group includes bos, Halifax and lloyds bank. Tsb was spun off as a separate company a while back, but using lbg it systems at this time and still has c40% owned by lbg, but is being sold to a Spanish bank.

dr_adidas01

joe134 wrote: »

Thanks H, I thought they had gone their separate ways.:beer:

Nope HBOS and Lloyds are still the same group, the only part Lloyds Bank Group has sold off is TSB.

BMN

Carnival789 wrote: »

Thanks for posting this letter. So we are "potential risks" to their business eh?

It's very intersting that they are willing to sever all ties with some of their customers. We may be costing them a few quid in interest each month but we are also potential mortgage customers etc.

Given that you need money in the bank (literally) to benefit from their high interest current account I would imagine that most people that take advantage of the account are pretty disciplined/savvy with their finances. In my eyes this makes them a lower risk for lending products, so in that respect they seem to be cutting their nose off to spite their face.

If the axe does fall on my head then so be it, I'll just make sure that I tell everyone that will listen about Lloyds' zero-tolerance outlook!

The letter that Ed-1 posted is unrelated to the letter that the OPs dad received.

starM wrote: »

ED-1 - Who received this letter? Was there any large sums paid in or withdrawn recently.

Just thinking about the wording "You will also need proof of where this credit balance has came from".

It would be interesting to see the circumstances behind this letter. The letter states that it is from APAF which stands for Application and Post Application Fraud so my guess would be that the account hasn't been opened long and there is already some evidence of first or third party fraudulent activity.

joe134

Jsscmm wrote: »

Lloyds banking group includes bos, Halifax and lloyds bank. Tsb was spun off as a separate company a while back, but using lbg it systems at this time and still has c40% owned by lbg, but is being sold to a Spanish bank.

In the paper yesterday, the Spanish deal has gone through.:beer:
That rather puts a different perspective on the £85k rule, I will have to have a further look at my A/cs, as between the LBG group, I'm well over.Been moving it around just recently, but wasn't aware they were still that linked
Maybe that's going to force me to close them now, and put it elsewhere.:(:beer: