Bank ended my relationship

Snagglepus456

Newbie looking for some help

I was called up today by my main bankers to say "we are ending your banking relationship and my accounts are being closed immediately".

So I asked, "Can I transfer out my balance using the banks app and was told I will give you 20 minutes".

That was it. I transferred my entire current account and saving account balance to a different bank. Just as well I had another account and an outgoing payment to it set-up.

I don't want to mention the bank in case the sue me.

Can they legally do this just out of the blue?

Angela

eskbanker

Banks do have the right to terminate relationships (as customers do of course) but the normal scenario is either they write giving 60 days notice, or (if suspecting something serious) they freeze accounts immediately without any sort of grace period to withdraw the funds.

Of course they won't just do this for the fun of it so there will be an underlying reason, what do you think it's likely to be?

Nobody can sue anybody for stating true facts by the way!

BoGoF

Yes they can.

There is a lot more to this story than that.

18cc

I don't think banks call you up out of the blue and give you 20 minutes to move everything out are you sure it was your bank

Snagglepus456

Good question.

I will check my internet banking.

System

Snagglepus456 wrote: »

Good question.

I will check my internet banking.

I'd be calling your bank ASAP.

[Deleted User]

Early finishes for the schools this week?

Highland76

It wasn't Barclays by any chance was it? I say this because a couple of years ago I opened a current account with them and a week or two later when my monthly salary (a few £1000) hit the account, they decided to block my account pending further investigations (I suspect d/t AML regs). Nothing wrong with that but whilst my desktop banking had stopped working, I was bizarrely still able to access my account via their smartphone app. Luckily on the same day i managed to transfer every single penny out of the Barclays account and never heard a peep from them again. Dozy tw@ts :rotfl: (not that I was complaining)

Thrugelmir

Snagglepus456 wrote: »

I don't want to mention the bank in case the sue me.

I'm sure that they've better things to do with their time.

Snagglepus456

No not Barclays Bank but TSB.

Just spoken to them and account to be closed in 7 days and I will receive a letter but they were not clear if it would state why they are closing the account and I can complain to the Financial Ombudsman Service if I think I was treated unfairly.

Thanks for listening.

Angela

Ed-1

Snagglepus456 wrote: »

No not Barclays Bank but TSB.

Just spoken to them and account to be closed in 7 days and I will receive a letter but they were not clear if it would state why they are closing the account and I can complain to the Financial Ombudsman Service if I think I was treated unfairly.

Thanks for listening.

Angela

Post a copy of the letter when you get it.