Lloyds Bank gave me 60 days notice to switch to an other bank

Kernel_Sanders

SurfKing wrote: »

It seems rather short-sighted of Lloyds to cut off their relationship with a customer just because they ran a small business using a personal account. I'd have thought that a more productive way forward would be to get in touch with the customer and tell them to transfer to a business account.

Indeed it would, but I wonder if what the OP has done is any worse than landlords receiving rent into their personal accounts. I've done it myself for a garage I used to rent out, and it never occurred to me that I might be doing anything untoward.

MABLE wrote: »

So the nice Bank manager thinks their HQ suspects you of money laundering. Certainly not the wisest thing to say.

From what I've read on these boards, it seems that all bank staff are instructed not to inform customers that fraud is suspected.

SurfKing

Kernel_Sanders wrote: »

Indeed it would, but I wonder if what the OP has done is any worse than landlords receiving rent into their personal accounts. I've done it myself for a garage I used to rent out, and it never occurred to me that I might be doing anything untoward.

Landlords aren't supposed to receive rent into their personal accounts?

Placitasgirl

I am extremely surprised that any member of bank staff would tell you that you were suspected of money laundering it that your account should remain open. The former is an offence called "tipping off" and the Manager could and should be reported and disciplined for this. It's not a trivial matter and he/she could be dismissed if they told you this.

GingerFurball_2

The manager telling you you're suspected of money laundering sounds like jackanory. I just don't believe anyone in that sort of position would be that stupid.

Don't pin your hopes on an appeal. By the sounds of it you fall outwith Lloyds' risk appetite with how you operate the account.

Placitasgirl

I too find it hard to believe a Branch Manager would have told you that the bank suspected, or was looking into a possibility of money laundering and would by doing so risk his/her job. Since 9/11 all Bank Staff are required to complete money laundering training on a regular basis and are fully informed of the crime of tipping off and it's repercussions:

http://www.icpa.org.uk/portal/money_laundering/tipping_off

I believe it's more likely your running of a small business through a personal account will be stated as the reason for you being asked to relocate your banking arrangements as it would be foolish for any employee to mention money laundering suspicions.

Wheres_My_Cashback

GingerFurball wrote: »

The manager telling you you're suspected of money laundering sounds like jackanory. I just don't believe anyone in that sort of position would be that stupid.

Don't pin your hopes on an appeal. By the sounds of it you fall outwith Lloyds' risk appetite with how you operate the account.

The whole thing is clearly Jackanory :whistle::whistle

GingerBob_3

Write to them telling them what a bunch of bast**rds they are and then brief against them at every opportunity. Scum banks are money laundering paranoid big time. CIFAS is out of control and unregulated, so you better look into it. You never know what the blighters have been doing, although as others have said, giving 60 days notice implies they haven't maliciously blacklisted you (others have not been so lucky).

GingerFurball_2

Yeah, that's a productive use of his time.

JuicyJesus

GingerBob wrote: »

Write to them telling them what a bunch of bast**rds they are and then brief against them at every opportunity. Scum banks are money laundering paranoid big time. CIFAS is out of control and unregulated, so you better look into it. You never know what the blighters have been doing, although as others have said, giving 60 days notice implies they haven't maliciously blacklisted you (others have not been so lucky).

Or they could just switch to another bank because they're not welcome at their old one, as is entirely the right of the bank who can decide who or what they want to supply banking facilities to at any time and for any reason not expressly prohibited by law.

GingerFurball_2

JuicyJesus, meet GingerBob.