Account closed to 'internal review'

silentswift

Hi there,

I just wanted to know what I should do, this is long and complex issue where name-of-bank has decided to close down my account. I did not receive any letter in the post and this came to a surprise when I tried to use my card for my Christmas shopping and filling the car up with petrol and it was declined.

I tried to then make a deposit at the bank's own atm (thinking it might had had no money) and it retained my card. I knew something wasn't right so I had look at my online banking (no suspicious activity that I have seen from the statement) to order a new card and was told to call the bank up, a woman told me their department doesn't open on weekeneds and only week days from 9am to 6pm. The next Monday, I called them in the morning, and found out that they closed my account due to internal review, they didn't want to explain or give a justified reason as to why they did this though. Apparently they sent a letter a week ago but I did not receive it (tbh, I haven't received any letters from anyone for the past two weeks) :mad:

So I guess my steps are to print a statement online (online banking still works?) and then withdraw this money (using id) at a branch and that's the end for this bank. I guess I should also complain to the bank, I have noticed no fraudulent transactions and I have never been on overdraft (even though I was offered overdraft) and have used this card for genuine reasons such as retail shopping from high streets and Amazon including filling up the car with petrol.

I have been banking with them for about 4 years and I guess they do not need me then. I want to know if those steps are correct and if anybody else had their accounts closed with no explanation. If there was fraudulent activity the terms and conditions state they must close the account immediately, but in my case I have been given 30 days, so I simply think the bank just doesn't want to bank any-more with me.

So yeah I guess these steps should work. I just like to know that when a bank closes your account does this effect my profile at all?.

dggar

silentswift wrote: »

Hi there,

I just wanted to know what I should do, this is long and complex issue where name-of-bank has decided to close down my account. I did not receive any letter in the post and this came to a surprise when I tried to use my card for my Christmas shopping and filling the car up with petrol and it was declined.

I tried to then make a deposit at the bank's own atm (thinking it might had had no money) and it retained my card. I knew something wasn't right so I had look at my online banking (no suspicious activity that I have seen from the statement) to order a new card and was told to call the bank up, a woman told me their department doesn't open on weekeneds and only week days from 9am to 6pm. The next Monday, I called them in the morning, and found out that they closed my account due to internal review, they didn't want to explain or give a justified reason as to why they did this though. Apparently they sent a letter a week ago but I did not receive it (tbh, I haven't received any letters from anyone for the past two weeks) :mad:

So I guess my steps are to print a statement online (online banking still works?) and then withdraw this money (using id) at a branch and that's the end for this bank. I guess I should also complain to the bank, I have noticed no fraudulent transactions and I have never been on overdraft (even though I was offered overdraft) and have used this card for genuine reasons such as retail shopping from high streets and Amazon including filling up the car with petrol.

I have been banking with them for about 4 years and I guess they do not need me then. I want to know if those steps are correct and if anybody else had their accounts closed with no explanation. If there was fraudulent activity the terms and conditions state they must close the account immediately, but in my case I have been given 30 days, so I simply think the bank just doesn't want to bank any-more with me.

So yeah I guess these steps should work. I just like to know that when a bank closes your account does this effect my profile at all?.

It would help if you named the bank and state what type of account you have.

muhandis

From these forums, the bank that most regularly jumps the gun and closes bank accounts with no/little notice is HSBC.

Unfortunately these happen due to some banks overcompensating for past compliance failures (HSBC got paranoid after it got hit with huge fines for alleged money laundering in the states) and with it all sense of proportionality goes out of the window. Unfortunately there isn't much we can do about it.

The good news is that I myself have not heard of anyone have continuing banking problems from that happening.