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

Ed-1

Jsscmm wrote: »

AIUI this is true. What is also true is that the status of each account is updated monthly. So if someone had say 5 CA's closed by a banking group, this would show up as five closures, even if it doesn't say who initiated the closing. It would be up to other organisations to decide how to interpret that data.

Also, the other organisations can't actually see the names of the providers of the current accounts held/closed.

planteria

Sorry to read about these accounts being closed..
I've just opened a TSB account for the incentive, and plan to use it for a couple of k Savings. But TSB will soon be entirely separate, so hopefully it'll be a short-lived problem.
I've been taking advantage of Halifax Rewards fairly blatantly..
But it's my Lloyds account that I would be most keen to retain.

planteria

And that seems right norm. Perhaps it is HBOS that are analysing use of their accounts, checking out those that are taking advantage?

gunsandbanjos

I'm really not sure that TSB and Lloyds share data internally, I think whoever told you that may have been mistaken.

scoot65

norm_ wrote: »

Haven't 3x BOS Vantage accounts been the linking factor in all the closures we've seen on here?

Is this true? Looks like I could be in trouble!
Only last week I opened my third BOS current account and maxed it out with £5k

The other two accounts were opened quite a while ago……..

Should I close the latest, third BOS account??????

ceredigion

scoot65 wrote: »

Is this true? Looks like I could be in trouble!
Only last week I opened my third BOS current account and maxed it out with £5k

The other two accounts were opened quite a while ago……..

Should I close the latest, third BOS account??????

No body knows
The observation is that every body who has written on these boards with this problem has had three BOS accounts, make of that what you will.

saintalan

What I dont understand is why do they offer these accounts if they are going to close them.

In reality how many people are going to open 3 current a/cs and use them as regular current a/cs? I guess if there are such customers this is an excellent deal.

So if this isn't the case, why offer 3, just offer 1 and maybe also make it switching deal. It doesn't make sense to me, there isnt even a DD need!.

Also if they regret doing it then just stop the deal or place a limit on it.

Herbalus

saintalan wrote: »

What I dont understand is why do they offer these accounts if they are going to close them.

In reality how many people are going to open 3 current a/cs and use them as regular current a/cs? I guess if there are such customers this is an excellent deal.

They are loss-leaders, to get you into the bank to sell you other products. They don't intend for people to have 3 accounts full to the interest allowance and funding requirements cycled between them.

They offer more than one as some people like to separate money out for bills and different purposes, but here they would expect a normal customer to have a main account plus up to two ancillary accounts. It isn't that abnormal.

xylophone

They offer more than one as some people like to separate money out for bills and different purposes, but here they would expect a normal customer to have a main account plus up to two ancillary accounts. It isn't that abnormal.

Then they could offer Vantage on just one of them?

And as for cross selling, many (most?) people open all accounts on line and never go near a branch?

Cweb

Looks like its best to start rotating my Tube contactless cards to avoid it being see as an inactive current account with regards to purchases. I've got over 10+ accounts so really would be prime to be picked off, so prevention is the best cure.

Have any of these been closed been a used account (transactions other than SO's/FP's?)? Bar that by the OP which could have been caused due to not using a secondary account within the same banking group?