Lloyds Account closure - no reason given

Zanderman

18cc wrote: »

I recently had £50k (from a matured 1 yr savings account) arrive in my Lloyds account and promptly over a few days sent it out again £15k at a time to a new Tesco Internet Saver with no problems so I don't think £16k would necessarily cause a problem...

But the OP's 16k was transferred in, out and then in again. Which might well seem odd. That much cash passing through is one thing. passing through and back again is another.

bengal-stripe

Zanderman wrote: »

But the OP's 16k was transferred in, out and then in again. Which might well seem odd. That much cash passing through is one thing. passing through and back again is another.

Not forgetting that the account must have been virtually dormant, with nothing coming in or going out but those 16k jojo-ing all over the place.

Caroline19 wrote: »

i had no direct debits on the account......I get paid almost 3 thousand a month after tax but not to lloyds. Lloyds know nothing about my second account, my loan, my wage nothing at all......Inevitably i was planning on closing it anyway.

Shakin_Steve

If you were planning on closing the account anyway, it has not really caused you any problems. But, hopefully, it has made you aware of the algorithms that banks have in place these days to spot what may be fraudulent activity. You do/did not use this account as your main account, no dd’s, no wages going in (so they are unaware of your source of funding) and then £16000 appears, disappears and appears again.
I think you can see why that would be considered out of the ordinary and, following the massive sanctions that can now be imposed, banks are ultra careful.
Don’t take it personally and move on.

Caroline19

I closed the account myself 2 months before the date given to me by them.

The issue i have is have they left a marker on my cifas file? Do they even have reasonable grounds to do that? They have not even asked me anything. Nothing was said other what was on the letter. I honestly dont need to bank with lloyds or their partners as stated above i was barely using their account except for large sums going in from one acc to another as a way of keeping it active which in my view is nothing out of ordinary. Granted it might seem fishy but would it hurt them to ask the person in questi9n to explain the transactions? I have a paper trail for everything that goes in and out of my account.

Question is has my cifas been affected? Or do i have to wait 20 days to find out? Has anyone that recieved similar letters have issues with opening an account elsewhere?

PeacefulWaters

I honestly dont need to bank with lloyds or their partners

And they've made a reasonable risk based decision that they don't need the expense of operating your unprofitable account.

I'd be amazed if CIFAS have been advised of anything.

Shakin_Steve

The only marker I could see it being would be a category 6, and I can’t see them having enough evidence to use that.

https://www.uk.equifax.com/publicsectorgateway/webapp/online-help/CIFAS.htm

takman

Caroline19 wrote: »

I have a paid subscription for both experian and equifax. Theres nothing on their. Sent in the SAR for Cifas today so now i have to wait 20 days.

There's no point in paying for Experian and Equifax when you can access the data on these two plus Callcredit for free.

bigadaj

Whilst banks do have large numbers of accounts and huge numbers of transactions to deal with its surprising how some suspicious activities don't get picked up.

Television programme a couple of weeks ago focused on fraudulent operation of council and ha tenancies. Range of activities and they obviously focused in those they'd actually prosecuted, on balance seemed like a lucrative business, tens of thousands to be made and when caught punishment was at worst community service or a suspended sentence.

Anyway, I'll stop digressing. One example was a group of young lads who'd arrived as minors in the uk, subsequently grown up and all had now applied for the right to buy their flats. The fact that all applied at teh same time raised suspicion, and they reviewed their bank accounts from the applications. All applicants were in benefits or minimum wage jobs, but in the previous couple of months had credited tens of thousands to purchase the properties. Nothing at all was flagged at the banks from these transactions.

lauraandsam007

Have you been making a lot of complaints?

Caroline19

I have made 2 complaints via email, i should be expecting a letter from them. Also contacted FOS, submitted a SAR request to Cifas and National Hunter. Its criminal that banks are allowed to destroy legit peoples life whilst the criminal live it large scot free. Government needs to wake up and put a stop to these practises where banks can mess up your credit based on assumptions that are not disclosed to customers. How can i defend myself if the reason is not even disclosed out to me? Even though i voluntarily closed my account i wont rest until i get an apology in writing from the bank.