TSB Bank Account Closure

EPL

Hi all,

I've just received today's post and was absolutely astounded to find a letter there from TSB who I hold my current account with, stating that after a review they would be closing my account.

The exact wording of the letter is:

We're writing to let you know that following a review of your account we can no longer run a bank account for you. We will be closing your account on 03/052016

Please make alternative banking arrangements immediately. We will stop making regular payments from your account on 03/05/2016 so if you don't make other arrangements you'll need to contact the people you want to pay.

We will issue you a cheque with the closing credit balance on 03/05/2016

---

I called them straight away and they have told me that it is in their T&C's they can close my account at anytime without reason - I will need to cheque the T&C's - so they just wont give me a reason as to why.

I've had the account since 2013 and a little under £500 a week is paid in. No overdraft facility and the account is showing a positive balance. I am just totally confused ? as the letter says and the person I on the phone told me, I can continue to use the account as normal until 3rd May - This confuses me even more as that is just under 2 months away. Surely if they didn't want me as a customer they would just close it now ?

Does anyone have any suggestions or similar experiences to this and any reasons why it might of happened ? is there anyone higher at TSB I can get to speak with to find out even just an indication as to why they are closing it ?

Any help would be appreciated.

savingwannabe

Is this account linked to any others?

I think someone else had letters like this closing for several of their bank accounts at once earlier this week. They all appeared to be linked and it looked like the banks didn't like it.

https://forums.moneysavingexpert.com/discussion/5262915

Hopefully someone clever will pop up with advice soon.

Good luck.

badger09

There have been several threads recently about Lloyds HBOS closing accounts with 60 days notice. Have a read around for various opinions on why this might be happening.

As it is not an instant closure, you should be ok to open accounts elsewhere.

badger09

Here is one of them


https://forums.moneysavingexpert.com/discussion/5421153

also has a link to another thread

Ed-1

EPL wrote: »

Hi all,

I've just received today's post and was absolutely astounded to find a letter there from TSB who I hold my current account with, stating that after a review they would be closing my account.

The exact wording of the letter is:

We're writing to let you know that following a review of your account we can no longer run a bank account for you. We will be closing your account on 03/052016

Please make alternative banking arrangements immediately. We will stop making regular payments from your account on 03/05/2016 so if you don't make other arrangements you'll need to contact the people you want to pay.

We will issue you a cheque with the closing credit balance on 03/05/2016

---

I called them straight away and they have told me that it is in their T&C's they can close my account at anytime without reason - I will need to cheque the T&C's - so they just wont give me a reason as to why.

I've had the account since 2013 and a little under £500 a week is paid in. No overdraft facility and the account is showing a positive balance. I am just totally confused ? as the letter says and the person I on the phone told me, I can continue to use the account as normal until 3rd May - This confuses me even more as that is just under 2 months away. Surely if they didn't want me as a customer they would just close it now ?

Does anyone have any suggestions or similar experiences to this and any reasons why it might of happened ? is there anyone higher at TSB I can get to speak with to find out even just an indication as to why they are closing it ?

Any help would be appreciated.

Nice to see TSB using a carbon copy of the old Lloyds closure letter:

http://imgur.com/MviNHBV

Does the TSB letter have a 'Our ref:' and address on it?

The T&Cs of any bank say they can decide to end the agreement given around 60 days notice. Nothing you can do. A generic review letter like this doesn't generally indicate fraud although it can be a risk-based review after looking at your activity (e.g. people dealing with Bitcoins have reported these types of letters), although it may be they're simply not making enough money out of you. Can be anything really. Check your Experian credit report and see if they've looked at it recently (that would be indicative if there is an unrecorded enquiry search on there from TSB).

EPL

Thanks for your help guys.

The account is linked to a savings account with TSB but the letter has not mention of closing the savings.

I am just extremely confused by it all.

Ed-1

EPL wrote: »

Thanks for your help guys.

The account is linked to a savings account with TSB but the letter has not mention of closing the savings.

I am just extremely confused by it all.

Who does it say it is from? e.g. TSB Account Closure Unit?

If it has an 'Our ref:' number on it, I may be able to help locate a generic reason for the letter as it may match with one the Lloyds letter codes that I've been sent.

EPL

Ed-1 wrote: »

Nice to see TSB using a carbon copy of the old Lloyds closure letter:

http://imgur.com/MviNHBV

Does the TSB letter have a 'Our ref:' and address on it?

The T&Cs of any bank say they can decide to end the agreement given around 60 days notice. Nothing you can do. A generic review letter like this doesn't generally indicate fraud although it can be a risk-based review after looking at your activity (e.g. people dealing with Bitcoins have reported these types of letters), although it may be they're simply not making enough money out of you. Can be anything really. Check your Experian credit report and see if they've looked at it recently (that would be indicative if there is an unrecorded enquiry search on there from TSB).

It has 'Our Ref' in the top right and then 'Account Closure Team, BX4 7SB' just above that. No full address though and it is signed off with just simply 'Yours Sincerely, Manager'

When I spoke to them they said if it was any thought of fraud or money laundering it would be instant closure of the account. Thats what has got me confused the fact they are letting me use for a further 7 weeks.

Checked my report and no recent searches by them and nothing registered in the CIFAS part which is the first part I looked at.

Just really confusing and and extremely annoying.

Ed-1

EPL wrote: »

It has 'Our Ref' in the top right and then 'Account Closure Team, BX4 7SB' just above that. No full address though and it is signed off with just simply 'Yours Sincerely, Manager'

When I spoke to them they said if it was any thought of fraud or money laundering it would be instant closure of the account. Thats what has got me confused the fact they are letting me use for a further 7 weeks.

Checked my report and no recent searches by them and nothing registered in the CIFAS part which is the first part I looked at.

Just really confusing and and extremely annoying.

What does the 'Our ref' say? It should consist of letters and numbers that give a code for that bank letter.

EPL

Ed-1 wrote: »

What does the 'Our ref' say? It should consist of letters and numbers that give a code for that bank letter.

Its HRCML/RC 04/03/2016

Ed-1

EPL wrote: »

Its HRCML/RC 04/03/2016

Similar to the HRCFOHRC_MW that was sent by LBG here: http://forums.moneysavingexpert.com/showpost.php?p=70075282&postcount=4

Although still no closer to finding out what the letters mean if anything as it's not on my list of standard bank letters.