Halifax and BOS closing my accounts

tg99

Ed-1 wrote: »

The wording of the letter is crucial. Just because they are giving 2 months notice to close your accounts with LBG doesn't mean you will not be eligible in future to open further accounts with them unless the letter says so. For example, some letters say 'following a review of your accounts we can no longer run a bank account for you'. That letter makes you ineligible for any further bank accounts with the group.

My Halifax one says: "we often review accounts to make sure that we can continue to support our customers with their banking needs. Following a review of your account(s), we have decided that we cannot continue to offer you banking facilities and we will be closing your account(s) on 4 April 2016.

Goes on to say: "if you open other accounts during the notice period, they will also be closed on 4 April 2016. Please note if you open any other accounts in future, we reserve the right to close them without further notice".

BOS one: "we often review accounts to make sure that we can continue to support our customers with their banking needs and following a review of your account, we are writing to let you know that unfortunately, we are unable to maintain a banking relationship with you. As such, we will be closing your account(s) on 4 April 2016."

Goes on to say: "In the event that you open other accounts during the notice period, those accounts will also be closed on 4 April 2016. Please note that this also applies to any other accounts you may open with the bank at any future point in time, where the bank reserves the right to close these accounts without further notice".

Rest of both letters just telling me what will happen with direct debits, payment of funds when closed etc (so more operational in nature) and that cannot switch to BOS, Halifax or Lloyds.

Ed-1

tg99 wrote: »

My Halifax one says: "we often review accounts to make sure that we can continue to support our customers with their banking needs. Following a review of your account(s), we have decided that we cannot continue to offer you banking facilities and we will be closing your account(s) on 4 April 2016.

Goes on to say: "if you open other accounts during the notice period, they will also be closed on 4 April 2016. Please note if you open any other accounts in future, we reserve the right to close them without further notice".

BOS one: "we often review accounts to make sure that we can continue to support our customers with their banking needs and following a review of your account, we are writing to let you know that unfortunately, we are unable to maintain a banking relationship with you. As such, we will be closing your account(s) on 4 April 2016."

Goes on to say: "In the event that you open other accounts during the notice period, those accounts will also be closed on 4 April 2016. Please note that this also applies to any other accounts you may open with the bank at any future point in time, where the bank reserves the right to close these accounts without further notice".

Rest of both letters just telling me what will happen with direct debits, payment of funds when closed etc (so more operational in nature) and that cannot switch to BOS, Halifax or Lloyds.

Sounds like this case:

https://forums.moneysavingexpert.com/discussion/5202564

It does seem that LBG are far more proactive at reviewing and closing accounts than other providers.

Nationwide8

NWasn't there a thread a while back where the OP had a similar situation ?.....think the advice then was to make sure you run a few transactions through the account/accounts every month or so, so it's not picked up as a "stagnant" account just sitting there gaining the reward or interest.

No way of knowing if that stops these letters ?? Also think that was a Lloyds acc in the previous thread.

Sorry Ed-1 ...
Just realised you linked to the thread as I was typing..

Ballard

This is a wake up call to me and I shall make sure that I put a few transactions through both my LBG accounts each month. BOS turned me down for an account last September because I'd fairly recently opened accounts with Lloyds & Halifax but they told me that I would be free to reapply at a later stage. Perhaps it's best that I don't try again this year.

tg99

Ed-1 wrote: »

Sounds like this case:

https://forums.moneysavingexpert.com/discussion/5202564

It does seem that LBG are far more proactive at reviewing and closing accounts than other providers.

Thanks, yes that does look a similar case. For added info, the only ever payees and payers linked to my BOS and Halifax accounts have all been my own accounts: money cycled through with Santander and DD with Tesco. As from reading a few other threads some were talking about cycling money through between members of LBG as a possible reason. My accounts are all still operational so no blocks or anything though that ties in with letters which imply I am fine for 60 days to use them (I assume existing DD and SO will still go through but will check with them when I call them again).

When I call the ACU next week I am inclined to approach it from the perspective that I simply believe they have made an error by closing all my accounts rather than just my Halifax one I am switching to M&S given the date. I guess I could also ask M&S to investigate but think unlikely they'll be able to do much plus I don't want to flag up any possible LBG concerns in case that triggers HSBC to do something with my accounts under their Group.

Will report back with updates when I find out more though whether I will find out anything meaningful is open to question! In the meantime I would say that if anyone is considering switching for a second time out of a Halifax/BOS account but wishes to maintain others then it might be worth using a different donor account given the possible scenario that it is my second switch that has triggered them to review my accounts.

jonesMUFCforever

Don't bother going to any branch to discuss - they won't have any more idea why your accounts are being closed than you do.
If you are 100% sure that there have been no iffy transactions on your accounts then you must assume they do not want you to open accounts just for the rewards - they must have T&C 's which will cover this.
Move on to your next bank - hope there is no CIFAS marker on your files because of this.

GingerBob_3

jonesMUFCforever wrote: »

Don't bother going to any branch to discuss - they won't have any more idea why your accounts are being closed than you do.
If you are 100% sure that there have been no iffy transactions on your accounts then you must assume they do not want you to open accounts just for the rewards - they must have T&C 's which will cover this.
Move on to your next bank - hope there is no CIFAS marker on your files because of this.

If there was, then some serious questions would need to be asked. Malicious notification to CIFAS; criminal, I wonder?

Nationwide8

tg99 wrote: »

I would say that if anyone is considering switching for a second time out of a Halifax/BOS account but wishes to maintain others then it might be worth using a different donor account given the possible scenario that it is my second switch that has triggered them to review my accounts.

Maybe hit the nail on the head there...good point..

tg99

Hmmm, am actually slightly concerned about my iWeb share dealing account having read T&C and sharing of info with other members of the LBG. Can't see how I would be an unprofitable customer with them though given the money they make from me each time I buy and sell and have big slug of assets with them. Then again if it is just a blanket closure of anything LBG-related then doesn't look promising! Can live with closure of Halifax/BOS/Lloyds accounts as just for interest/rewards but will be a big hassle if iWeb close my account.

jonesMUFCforever

GingerBob wrote: »

If there was, then some serious questions would need to be asked. Malicious notification to CIFAS; criminal, I wonder?

We don't know - I don't know - You don't know - malicious - I don't think so - for this to happen they must think fraud has happened in one way or another.