Bank of Scotland, Halifax and now TSB have closed my Accounts

Doctor_Duke

Sab are busy planning to install their system for TSB but the latest I heard was not until the end of 2017 at the very earliest although they will be launching more "individual" products this year. The report indicated that Sab are going to have to find many more millions to sort it over its original planned budget. I suspect in the meantime their lending criteria, credit scoring and risk profiling is very much LBG!

theone999

wow. i do this with my halifax account to get £5 a month. i guess it's lucky my other accounts are not with the group. i also don't have the money coming back, always one way transaction, or paid back in cash. i thought it might help one day with something like this.

jesus, i was right.

colsten

diamonds wrote: »

Interesting because 7 months ago I could not get a basic savings a/c with Halifax, just over a week ago I got the £5 Reward Account from Halifax after my TSB 5% £1500 balance tripled in 6 months.

There is no credit check as part of a savings account application, just an ID check. If you were declined a savings account, you were most likely barred either on the LBG systems, or on a national fraud database.

Halifax will not know what the positive current account balance at TSB is as this information is not on your credit files and TSB are not permitted to share your account data with Halifax, or another bank.

colsten

gunsandbanjos wrote: »

Yes TSB has taken a mini me version of all lloyds systems but they can't see each other's accounts.

Of course none of this will prevent forumites from developing wild theories about clandestine data exchanges between TSB and the LBG banks

tempus_fugit

colsten wrote: »

Halifax will not know what the positive current account balance at TSB is as this information is not on your credit files and TSB are not permitted to share your account data with Halifax, or another bank.

And yet they expect my wife to know who Jemima Smithers is when she has never heard of the person. It's a bit one-sided that.

Ed-1

colsten wrote: »

There is no credit check as part of a savings account application, just an ID check. If you were declined a savings account, you were most likely barred either on the LBG systems, or on a national fraud database.

Halifax will not know what the positive current account balance at TSB is as this information is not on your credit files and TSB are not permitted to share your account data with Halifax, or another bank.

It seems if you apply for a savings account with LBG as a new customer or from outside of online banking as an existing customer, the system runs a check (not a hard credit search), which is when it comes up with 'we are checking your application' screen. That check would then highlight any issues with either your credit file or fraud flags which may then cause a decline of your application (whether or not the account was approved and opened at stage 1 auto checks). That's what happened when I applied for a savings account with Halifax which was withdrawn at stage 2 checks. I'm currently investigating whether there are any National Hunter flags causing this (last time I checked there were multiple 'inconsistency' statuses from LBG with a very dubious reason given as ' unrealistic level of apps' flagging my name! Surely they should only be able to register inconsistency as the status if there is an actual inconsistency - not just to flag up an applicant for further scrutiny?). CIFAS has come back clear.

tg99

Ed-1 wrote: »

It seems if you apply for a savings account with LBG as a new customer or from outside of online banking as an existing customer, the system runs a check (not a hard credit search), which is when it comes up with 'we are checking your application' screen. That check would then highlight any issues with either your credit file or fraud flags which may then cause a decline of your application (whether or not the account was approved and opened at stage 1 auto checks). That's what happened when I applied for a savings account with Halifax which was withdrawn at stage 2 checks. I'm currently investigating whether there are any National Hunter flags causing this (last time I checked there were multiple 'inconsistency' statuses from LBG with a very dubious reason given as ' unrealistic level of apps' flagging my name! Surely they should only be able to register inconsistency as the status if there is an actual inconsistency - not just to flag up an applicant for further scrutiny?). CIFAS has come back clear.

Would the previous receipt of account closure letters for LBG imply that you wouldn't be able to open a Halifax savings account though given it would fall under the 'banking relationship' which could no longer be offered?

silentswift

I believe what has been said here is very true.

I got an unexpected letter that my TSB account is going to close a week ago, even though its been managed the same way for past three/four years.

I guess it's because I tried to send money from another bank from LBG, I usually do this with my HSBC instead.

So yeah, somehow sending money from LBG triggers this or at-least it did to me.

Well my HSBC card has been active for 15 years, so that won't be closing down anytime soon :beer: