Yorkshire Bank closed my account

WYBantam

Hi All
I was hoping someone may be able to help with my query.

My parents set up a kids account with Yorkshire Bank for me back in the 80's. Over time my parents and I had used the account to put away any savings I had. I last used my account in the mid-late 90's.

I completely forgot about my account until this year. There was roughly over a thousand pounds in the account. Since I do not bank regularly with YB i thought I'd close the account and transfer to HSBC, which is my main bank.

I paid YB a visit with the little white book that you get with the account. YB, at first, informed me that they cannot find the account. Then they told me that they would have to search through the microfiche archive to see whether there was any further information.

After approximately six weeks they got in touch to say that the account was closed in 2003 and the money transferred. I asked who was it done by and where was it transferred to. They said they do not keep a record of that and they only keep a record of the date the account was closed and the final amount.

I asked them how it was possible that the account was closed when I have the book. YB said that they have closed accounts in the past without them. My parents and I have not touched the account.

I asked whether there was a possibility of a mistake and they said they would check whether the funds have been transferred to a dormant account pot (or something similar). They have now come back to me and said it was not transferred there. My next steps are to make a complaint. I was just wondering whether this had happened to anyone else out there? and whether anyone could advise of what I should include in my complaint.

Thanks guys

Norscbu

Complaint about what exactly?

WYBantam

Closing the account and taking my money without my (or my parents) permission/knowledge

[Deleted User]

WYBantam wrote: »

Closing the account and taking my money without my (or my parents) permission/knowledge

That's what you should put in your complaint, then.

Thrugelmir

WYBantam wrote: »

Closing the account and taking my money without my (or my parents) permission/knowledge

Seeing as a transfer has been effected many years ago. Somebody did something, and it wasn't the bank.

Placitasgirl

Have your parents moved house since the account was last used in the mid 90's? If so it's possible that because the account wasn't used for some time it became dormant and YB would have written to the account holder (your parents) at the address they held for them at that time, telling them what would happen to the account and the funds it held. If this is the case it would have been your parents responsibility to provide YB with their new address details so that the records could be updated and correspondence sent to their new address. This could explain why they didn't receive any notification of the change to the account and if they didn't respond it's possible the monies are sitting in a suspense account at YB.

GingerFurball_2

Ah, a good old 'I have the passbook, the account must still be open' complaint.

Quite possible to transact without the passbook.

Yorkshire_Pud

13 year amnesia?

Gather all the information you can and consider whether its worth making a 'complaint' vs being open to scrutiny from YB and related fraud prevention agencies.

Not casting aspersions, just considering plausibility.

WYBantam

I could understand that you could transact without the passbook but surely an account shouldn't be closed without it? Even if it was closed then a record of where the money was transferred to and who closed the account should be kept, as a minimum.

WYBantam

13 year amnesia? That's a bit harsh.
I had a clear out and found my passbook.
I don't mind the scrutiny. It would be nice to get some closure as to what happened to the account.

JuicyJesus

WYBantam wrote: »

I could understand that you could transact without the passbook but surely an account shouldn't be closed without it? Even if it was closed then a record of where the money was transferred to and who closed the account should be kept, as a minimum.

It's been 13 years, and it's unreasonable to expect them to both keep detailed information about closed accounts for that long or to expect them to inconvenience their customers by insisting on having a book to close the account. That's FOS' line too.

Most likely your parents have taken the money out and then forgotten about it.