Yorkshire Bank closed my account

PeacefulWaters

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.

"Dear bank.

I've lost my passbook, have ID and wish to close my account"

It would be unreasonable of them to insist on your passbook.

DCFC79

You just to write a simple letter asking for said account to be closed, include the relevant details and include a phone number if they wish to ring you about it.

GingerFurball_2

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.

How long do you think such information should be kept for?

jonesMUFCforever

WYBantam wrote: »

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.

So if you lost the passbook then you can never close the account is that what you are saying?
If your parents set the account up there is a possibility it was in their name and the Bank took instruction to transfer the funds either to themselves or a new account in your name.
Do you remember having any other account with them?

Lost passbooks are an everyday occurrence - less common nowadays as less institutions use them (preferring statements) presumably because of problems like yours.

AnotherJoe

Since the bank have said the money was not transferred to a dormant account that means there's a chance they know where it was transferred to. I'd put that in your complaint also, that they won't say.

JuicyJesus

AnotherJoe wrote: »

Since the bank have said the money was not transferred to a dormant account that means there's a chance they know where it was transferred to. I'd put that in your complaint also, that they won't say.

Not really. All the money has to be is not in their holding account for dormant funds for them to know it wasn't transferred to a dormant account. Banks are required to look in to such things and maintain records of accounts that were closed due to dormancy, and they clearly did so here.

They genuinely don't know. They don't have the money, so they know the account wasn't closed due to dormancy, and they can't give any more information because it's more than double the de facto standard time for holding on to information about closed accounts since the account closed.

I'd lay money the parents took the money out and forgot about it.

AnotherJoe

JuicyJesus wrote: »

Not really. All the money has to be is not in their holding account for dormant funds for them to know it wasn't transferred to a dormant account. Banks are required to look in to such things and maintain records of accounts that were closed due to dormancy, and they clearly did so here.

Ah, thanks JJ, i thought it meant they looked and saw it didn't go to a holding account but to another one, but i can see it works the other way, eg the holding account has for each record an entry that says "this came from account XYZ"