Cifas

tiredoflife

I had my Natwest credit card, current account and joint account closed down in June. I received a 60 day letter of closure.

I already had a Nationwide account and managed to add all direct debits etc. I also, on the advice of forum members, opened another account, with HCBC (in May and approved and open, although just a basic account, I was asked to take ID to branch)

I check my credit report on a regular basis and have seen that Natwest have only closed my current account on the 30.7 (other accounts closed 30.6).
On the 30.6 I opened a joint Nationwide account with my husband which has been up and running since then.

I am now a complete wreck and am unable to sleep at night convinced I have a CIFAS against me which will ruin our future. I was fine for a while, but what has freaked me out is the fact that the Natwest current account was only closed on the 30.7.

I have sent of a SAR to CIFAS and awaiting reply. Anyone know the time frame for this to be returned?

I have a few questions I hope some experts can help with?

If a CIFAS has been added to my file, when would it have been added? At the notice period or when the account was closed?

I have just renewed my car insurance paying direct debit monthly (first payment due 28.8) and have convinced myself that my car insurance will be cancelled because of a potential CIFAS.

Myself and my husband are looking to get a mortgage next year, I know if I have any marker on myself there is no chance of a mortgage, but would he be able to apply for a sole mortgage?

Just for info - i used to gave a gambling problem (haven't done so for a year) and had large sums going in and out of account. I also maxed out money transfer CC to my account and used the money to basically live on and pay bills etc. Stupid to say the least, but I was in a bad place. I'm guessing my gambling transactions have caught up with me and they have put a marker on me.
My lovely mother in law bailed me out by lending me £45k to get me out of my debt which I am paying back.

If I do get my accounts closed now, I have been looking at thinkmoney prepaid card, but they are associated with Natwest (feel free to correct me) and I am guessing i wont be able to use them? I need a card which allows my wages to be paid into and DD to be taken out. Also, will I be able to set up any sort of savings account anywhere?

Also, one final thing. Is it 6 years for CIFAS to come off? Will I ever get a bank account again if I have had this marker in the past?

Any help appreciated.

Candyapple

Wow, a lot of questions!

There was a poster on here recently who did one and received a response back within a week, which ties in with what's on their website:

You are entitled to receive a response to your Subject Access Request within 40 days of sending Cifas:

The completed Subject Access Request Form
The details requested on the form to enable Cifas to receive payment of the £10 fee
Proof of your identity and address as outlined in the form

Incomplete requests will be returned to the sender explaining what is missing. Once a complete Subject Access Request is received, the request will be processed within 40 days.

Although the law requires us to respond to your written request within 40 days, we will usually reply within a week.

I've no idea about if/when the CIFAS marker would have been applied, sorry.

Re car insurance - no point worrying about this until you know for certain whether you have marker or not.

If your husband applied for a mortgage solely, it would cause you issues as you would be classed as a dependent and this would affect how much money the bank would be able to lend.

I don't think thinkmoney are associated/affiliated with Natwest, at least I can't see anything that says otherwise:

Registered office: Think Park, Mosley Road, Trafford Park, Manchester M17 1FQ. Company registration No. 5530040. Registered in England and Wales. Four star accreditation from the Fairbanking Foundation for the thinkmoney Personal Account.Calls may be recorded for training and monitoring. Calls to 0161 numbers are typically charged up to 9p per minute for landlines, plus any call set-up fee, and between 3p and 40p per minute for mobiles. But you should check with your network provider for full details of your service.

Think Money Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, register reference 900033, for the issuing of electronic money and the provision of payment services. Think Money Limited is authorised and regulated by the Financial Conduct Authority for its consumer credit and insurance and mortgage mediation activities (Firm Ref No 685963 register.fca.org.uk/)

The thinkmoney Prepaid Debit MasterCard® is issued by R. Raphael and Sons plc, pursuant to a license from MasterCard International Incorporated. MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated. R. Raphael & Sons plc is a UK bank authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority (registration number 161302) and is permitted to issue e-money. Head office and registered office at 19-21 Shaftesbury Ave, London W1D 7ED, company registration number 01288938.

Yes it is 6 years for CIFAS markers to be removed and once removed, you should be ok.

Stop worrying yourself sick until you know for certain that you have a CIFAS marker.

tiredoflife

Thanks candyapple (great name!)

It's just that I need a car for work, I cant not have insurance.
I can just about get my head around the idea that I might not have a bank account for 6 long years, but no car would make life pretty bloody hard and to be honest I would probably lose my job.

My husband is the only name on the deeds of our current home, we wouldn't need a large mortgage, but still, its interesting to know I would be classed as a dependent.

I'm sorry for worrying, this year has been awful and I cant stop thinking that something is going to go wrong and bite me in the a-r-s-e.

I plan to appeal it if there is a marker, but from research it appears they are rarely retracted.

Id love to hear from other people who have a CIFAS against them ( non-protective) as there seems to be a lack of follow ups from posters on many threads.

Thanks for the info.

I'll keep this post updated too.

andyfromotley

Hi,

in my experience as a compusive gambker and talking over years to many other compulsive gamblers i have never heard of banks closing down the accounts simply because of gambling. So in my opinion this is unlikely to be the case. However i know that compulsive gamblers can also be dishonest and deceptive. If this affected your ban account then it is more than possible.

Just try to relax and await the Cifas info.

tiredoflife

Thanks Andy.
I thought gambling would trigger a whole money laundering situation. I did at one point have a lot of money coming in, and then going straight out the same day because I was so addicted. I feel sick writing this, but one day I won 6k and spent 7k! It was pathetic.

I did spend on credit cards, everyday items like petrol and food and then got the amount balance transferred to however had an offer on that particur month. I do wonder if that might have !!!!ed them off?

I'm sorry for worrying, I'm a born worrier and suffer terrible anxiety.

My main concern at the moment is not being able to keep my car insurance.

Candyapple

When did you send off the SAR?

The good news is if you managed to open (and keep open?) the HSBC account as well as the Nationwide one, chances are you don't have a CIFAS marker and it's just Natwest being Natwest. It might have been the large amounts coming in/out, who knows. Either way, there's a great quote that you should remember: "Worry is like a rocking chair: it gives you something to do but never gets you anywhere".

Ed-1

tiredoflife wrote: »

Thanks Andy.
I thought gambling would trigger a whole money laundering situation. I did at one point have a lot of money coming in, and then going straight out the same day because I was so addicted. I feel sick writing this, but one day I won 6k and spent 7k! It was pathetic.

I did spend on credit cards, everyday items like petrol and food and then got the amount balance transferred to however had an offer on that particur month. I do wonder if that might have !!!!ed them off?

I'm sorry for worrying, I'm a born worrier and suffer terrible anxiety.

My main concern at the moment is not being able to keep my car insurance.

Stop worrying! From what you've said you've done nothing wrong but banks are entitled to withdraw facilities where they don't like your activity as it may pose a higher risk for them in terms of things like complying with money laundering regulations. Basically they're only bothered about activity it it means them having to monitor it and if they could be hit with a big fine if they don't stop it just in case it is against the law, whether in reality it is or isn't.

CIFAS should be clear as you haven't committed fraud or had it committed against you. Therefore they've got no proof of fraud on the balance of probability which they need to put anything on CIFAS.

tiredoflife

Great quote candy, I'll use this when I'm having a mini meltdown at 2am most mornings! SAR was sent yesterday.
Thanks ed. I know I haven't done anything wrong, been a terrible gambler at a low time in my life (pnd) and maxed out credit cards etc yes, but I'm not a criminal. I'm just a normal person. I know this, but do Natwest thing I'm some kind of money launderer?! That's my worry. I'd love to stop worrying, but I find it so hard. My husband is the polar opposite to me and worrys about nothing. He has said the same as you guys, worry when there is something to worry about!

Thanks, I will keep this thread updated for future reference for others.

For now, I will go and pick up my beautiful 2 year old daughter from nursery and let her craziness take my mind off things.

Thanks guys, this is like a therapy session!

Marcio45

As others have said, your other accounts are still up and running, so it might be just natwest that simply dont want your custom anymore. Dont stress. If it was a fraud mark the other banks could well be withdrawing their services as well by now. You mention this started in june... a few months have passed, But nothing else has happened. Wait patiently for the CIFAS Sar... and dont worry too much.

tiredoflife

Well the money has come out for the CIFAS so hoping it wont be too long. Annoying we have a bank holiday as it will delay it even more.
Still going through panic and worry. I have even started googling how to get to work using public transport.

JimmyTheWig

OP, I've just got two things to say on this...

1. I hope that you're getting the support you need for your PND and anxieties. If not, it is worth trying to get some support.

2. If the car insurance is the biggest worry, presumably if you pay it in a lump sum then the credit file issues won't matter? I understand that you might not have the cash to pay it all in one go and don't have access to credit right now, but does your husband have a credit card that he could use to pay your car insurance?