Lloyds closed my accounts hard getting new one

colsten

themadhouse wrote: »

Yes - I did clarify this in a previous post

So you are still on the Lloyds bank's mandate for the company......why are you then surprised they, and others, won't give you another account?

#shrugshoulders #facepalm

jonesMUFCforever

themadhouse wrote: »

Yes - I did clarify this in a previous post

Then you are responsible for any bank overdraft to Lloyds bank whether now or in the future due to a Paypal chargeback.
Get the account blocked now and tell the directors to open a brand new bank account for the company.

colsten

jonesMUFCforever wrote: »

Get the account blocked now and tell the directors to open a brand new bank account for the company.

How would that erase Lloyds' memory about the association with the fraudulent account?

jonesMUFCforever

colsten wrote: »

How would that erase Lloyds' memory about the association with the fraudulent account?

It wouldn't in any shape or form - I have already advised the OP that he has utterly no chance whatsover of Lloyds opening an account for him.
This is to protect him from any future liability on this account.

Alex_Fan

Ed-1 wrote: »

Typical that the big banks leave their customers high and dry and it takes a supermarket to be open with their customers.

The crucial thing now is to determine through your Subject Access Requests exactly what CIFAS loading is on the database.

It will be Synectics Solutions as the other company mentioned. Their database which holds application data is called National SIRA; Co-op don't use the other (National Hunter). [Anyone in the know - Do Synectics have any other databases as I can't see how a post-application event could really be logged on SIRA. They could load an entry relating to the account and set the status to 'refer' but would that really make any difference?] I had multiple applications with LBG set to 'refer' which never seemed to hinder any other applications. On SIRA they can't register a reason for the status but the corresponding applications on National Hunter (LBG use both) stated the reason for the 'inconsistency' status with them was 'unrealistic level of apps from same address'.

Had you applied for any accounts with Lloyds/Halifax/BOS recently before the closure notice?

I received the same letter from Natwest today, to close my personal and business together in 60 days. Natwest frozen both my accounts 2 weeks ago and back to normal for 1 week. But I still received the closing letter today.

During this period, in the past 2 weeks, I opened a new business account and personal account with different Banks, and both success. Meantime, I hold 2 more different personal account with different banks.

Regarding the letter I received this morning, will all the banks close my current accounts?

Appreciate the any suggestion and help.

Ed-1

Alex_Fan wrote: »

I received the same letter from Natwest today, to close my personal and business together in 60 days. Natwest frozen both my accounts 2 weeks ago and back to normal for 1 week. But I still received the closing letter today.

During this period, in the past 2 weeks, I opened a new business account and personal account with different Banks, and both success. Meantime, I hold 2 more different personal account with different banks.

Regarding the letter I received this morning, will all the banks close my current accounts?

Appreciate the any suggestion and help.

Other banks will only close your account if your details have been loaded onto the CIFAS database and only then if they have been loaded under e.g. category 6 (first party fraud: misuse of facility) and they see the marker.

Any idea why Natwest might have decided to close your accounts?

Is the letter one of those that says "We, Natwest, have recently undertaken a review of the banking arrangements you currently hold with us and with regret have decided that we will no longer offer you these facilities ... we won't provide a banking reference for you ... make alternative banking arrangements within 60 days etc. etc.?"

The chances are that you aren't on CIFAS - banks send these 60 day notice closure letters out all the time without giving a reason. But you can send a subject access request to CIFAS if you want to know for sure that they haven't registered fraud against your details and to put your mind at rest. It might be nothing to do with fraud but the fact that your accounts were frozen previously suggests they investigated something and from that may have had suspicions about something but not had enough evidence to warrant immediate closure (or simply after reviewing your accounts found nothing untoward and so unfroze them but didn't want you as a customer anymore so sent the closure notice).

Banks nowadays are pretty much deciding the easiest option (closing accounts in the case of suspected fraud) or the best business option after reviewing accounts. Both lead to 60 day closure letters and the sad thing is they don't have to give you a reason and nomatter how loyal you've been, couldn't care less about their decision.

Alex_Fan

Ed-1 wrote: »

Other banks will only close your account if your details have been loaded onto the CIFAS database and only then if they have been loaded under e.g. category 6 (first party fraud: misuse of facility) and they see the marker.

Any idea why Natwest might have decided to close your accounts?

Is the letter one of those that says "We, Natwest, have recently undertaken a review of the banking arrangements you currently hold with us and with regret have decided that we will no longer offer you these facilities ... we won't provide a banking reference for you ... make alternative banking arrangements within 60 days etc. etc.?"

The chances are that you aren't on CIFAS - banks send these 60 day notice closure letters out all the time without giving a reason. But you can send a subject access request to CIFAS if you want to know for sure that they haven't registered fraud against your details and to put your mind at rest. It might be nothing to do with fraud but the fact that your accounts were frozen previously suggests they investigated something and from that may have had suspicions about something but not had enough evidence to warrant immediate closure (or simply after reviewing your accounts found nothing untoward and so unfroze them but didn't want you as a customer anymore so sent the closure notice).

Banks nowadays are pretty much deciding the easiest option (closing accounts in the case of suspected fraud) or the best business option after reviewing accounts. Both lead to 60 day closure letters and the sad thing is they don't have to give you a reason and nomatter how loyal you've been, couldn't care less about their decision.

Yes, the letter is exactly what you writes.

Since I got the license for money transfer and currency exchange in May, there are a lot of cash in and out of my accounts. I think this is the reason they frozen my accounts and then decide to close in 60 days. Because the free banking period finished in June 2015, I already made the plan to change the business bank before everything happened. The natwest has decided to close my account and should have inform the CIFAS already, is it right?

I will send the SAR tomorrow and hopefully nothing is there. What I am concerned is Natwest treats me like your friend's situation, which will be a nightmare. is there any news from you friend?

Thanks

Ed-1

Alex_Fan wrote: »

Yes, the letter is exactly what you writes.

Since I got the license for money transfer and currency exchange in May, there are a lot of cash in and out of my accounts. I think this is the reason they frozen my accounts and then decide to close in 60 days. Because the free banking period finished in June 2015, I already made the plan to change the business bank before everything happened. The natwest has decided to close my account and should have inform the CIFAS already, is it right?

I will send the SAR tomorrow and hopefully nothing is there. What I am concerned is Natwest treats me like your friend's situation, which will be a nightmare. is there any news from you friend?

Thanks

Put plainly, if there's no fraud on any of your accounts there shouldn't be anything on CIFAS.

If there's no blocks on your accounts, then does it matter how Natwest treat you? As long as there's nothing against your details that is available for other banks to see then there's no reason for you to have anything to do with Natwest again.

Banks are hiding behind the regulations and closing accounts in situations such as these where activity on accounts might even have a hint of resembling money laundering (which in the days of internet banking and the ability to transfer freely anytime between your accounts is a lot more commonplace).

colsten

Alex_Fan wrote: »

Since I got the license for money transfer and currency exchange in May

If that is your line of business, you need to sit down with your bank and with your business plan, and agree the terms for your account(s). If you just open accounts over the internet, they will all be closed sooner rather than later.

Alex_Fan

colsten wrote: »

If that is your line of business, you need to sit down with your bank and with your business plan, and agree the terms for your account(s). If you just open accounts over the internet, they will all be closed sooner rather than later.

Does it mean if I do not negotiate well with my new business bank, my business account is going to be closed again soon? Is the reason for a lot of cash transaction ? or for my previous experience with Natwest, if they list me on CIFAS?

Thanks