Bank closing my account with no explanation

ran123ran_2

I got a letter of bank this morning saying they are closing my accounts...there is no explanation given....no contact details....nothing.

I have several accounts incl cr cards, isas, websaver, etc andit doesn't list which ones will be closing.

I went to branch they couldn't help as it was a decision made at head office.

I called them and they could't help or provide any further explanation?

Can banks do that?

badger09

ran123ran wrote: »

I got a letter of bank this morning saying they are closing my accounts...there is no explanation given....no contact details....nothing.

I have several accounts incl cr cards, isas, websaver, etc andit doesn't list which ones will be closing.

I went to branch they couldn't help as it was a decision made at head office.

I called them and they could't help or provide any further explanation?

Can banks do that?

Yes, for current accounts, they can.

Which bank? There have been several similar threads recently.

Unless you already have accounts with other banks, I would get at least one opened immediately.

ran123ran_2

halifax.....can't believe they would do that in this day and age

ran123ran_2

its not just current account....its isas, saving accs, sharedealing accs, etc.....and I do use them so its not like they are redundant

Ed-1

ran123ran wrote: »

halifax.....can't believe they would do that in this day and age

Yet another account closure decision from LBG. Barstewards. Care to scan/type up the wording of the letter and which department the letter says it is from in the top right corner - e.g. Account Closure Unit/Credit Decisioning?

henm2

ran123ran wrote: »

halifax.....can't believe they would do that in this day and age

Banks do it all the time particularly in 'this day and age'. This is often as a result of concerns re AML or if they feel their terms and conditions have been broken. The banks compliance procedures for AML for instance have become more onerous in recent years.

joeblags

thinking I might close my Lloyds account as I don't want them shutting my TSB & HALIFAX ( main account )

Ed-1

joeblags wrote: »

thinking I might close my Lloyds account as I don't want them shutting my TSB & HALIFAX ( main account )

TSB can't be affected by Lloyds as it's outside Lloyds Banking Group (Lloyds, Halifax, BOS). TSB have been brilliant in my experience. I like Lloyds' systems (so TSB is the best of both worlds as they use the same systems) but their customer service is appalling and when they make decisions they refuse to liaise with their customers and take a 'we've made our decision' approach whereas other banks and building societies may discuss any problems first before making rash decisions such as closing accounts. LBG have a terrible approach to customer service in decisions made by their back office staff.

MARTYM8`

Not the first and sadly won't be the last.

They cut off your financial arrangements - and refuse to tell you why.

Always have at least two current accounts with different banking groups.

joeblags

Ed-1 wrote: »

TSB can't be affected by Lloyds as it's outside Lloyds Banking Group (Lloyds, Halifax, BOS). TSB have been brilliant in my experience. I like Lloyds' systems (so TSB is the best of both worlds as they use the same systems) but their customer service is appalling and when they make decisions they refuse to liaise with their customers and take a 'we've made our decision' approach whereas other banks and building societies may discuss any problems first before making rash decisions such as closing accounts. LBG have a terrible approach to customer service in decisions made by their back office staff.

didn't know that about tsb thanks, ill keep my Lloyds then as I have the tsb to fall back on if need be at any time, if they decide me " taking advantage " of the interest paid on £5k at Lloyds isn't worth me as a customer and decide to close my Lloyds and Halifax then ill hop right to tsb

Klopek

ran123ran wrote: »

halifax.....can't believe they would do that in this day and age

Are you able to share any information about how you've handled the account recently? Do you actually keep money in there or, assuming it's the reward account, just cycle cash through to meet the conditions?