Kicked out by your bank...

schoie81

So, I've held a current account and credit card with Halifax for 6 years, and a savings account and second credit card for a slightly shorter period. I have a very good credit rating, don't go overdrawn on my current account (my salary is paid into the account each month and the balance rarely dips below £100), always pay my credit card on time and operate all the accounts within the terms and conditions. Then out of the blue, two days before I'm due to go on holiday, I get a letter from Halifax saying they've reviewed my accounts and have decided they're going to close all of them in 65 days time. No explanation why.



I rang them, and they said it's a decision made at branch level, so they couldn't tell me any more, other than I can appeal the decision if I want (not sure how I can appeal a decision when I don't know what the decision is based upon), so I'd have to contact the branch to find out why they're doing it.



I don't have a branch I can get to during their opening hours, so I wrote to the branch asking for an explanation. After 2 weeks I got a response saying that having received my complaint (it wasn't a complaint), they've reviewed the decision and aren't prepared to reverse it. Then go on to say that they will not disclose the reason why they've made this decision.



If they don't want me to bank with them, that's fine, I'll go elsewhere, although obviously it's a pain to shift my accounts, but I feel it's appalling that they wont tell me why they're doing it. Has anyone else had this and is there anything I can do to find out why they've done this?

molerat

Banks don't just close accounts for no reason, some information they have received or activity on your accounts has spooked them. You need to check all 3 credit agencies for anything untoward.
Gambling ?
Bitcoin ?
Money from / to abroad ?
Large sums going in and out ?

May be worth submitting a SAR to National Hunter https://www.nhunter.co.uk/faq/ and CIFAS https://www.cifas.org.uk/contact-us/subject-access-request

schoie81

Thanks molerat. That's my major concern really, that whatever is behind their reasons might cause me problems in the future. I am 100% certain I've done nothing untoward, so if it is based on something like this, then I think they've got their wires crossed!! That's why I want to know the reason. I have done a bit of Googling and it seems other people have had this, but reports seemed to suggest this was due to people's links to certain other countries which may scare off the banks, but that doesn't apply to me as I was born in the UK and have lived here all my life, in fact I've only left these shores a handful of times!!



Of the possible things you've listed - I do a bit of online gambling, but we're talking very small amounts, less than £10 a month. Never used Bitcoin and have never transferred money to or from abroad on any of my Halifax accounts, and not at all in the last 6 years. Large transfers are a possible, as in the last 12 months my ex has bought out my share in our house, and then I've bought a house myself, but these are transfers from and to my solicitors, there have only been those two over a 6 month period, and they were large sums to me, but I'm sure wouldn't be considered that large to a lot of people...



I'll have a look at the links you've sent. Thank you.

sully1311

schoie81 wrote: »

Thanks molerat. That's my major concern really, that whatever is behind their reasons might cause me problems in the future. I am 100% certain I've done nothing untoward, so if it is based on something like this, then I think they've got their wires crossed!! That's why I want to know the reason. I have done a bit of Googling and it seems other people have had this, but reports seemed to suggest this was due to people's links to certain other countries which may scare off the banks, but that doesn't apply to me as I was born in the UK and have lived here all my life, in fact I've only left these shores a handful of times!!



Of the possible things you've listed - I do a bit of online gambling, but we're talking very small amounts, less than £10 a month. Never used Bitcoin and have never transferred money to or from abroad on any of my Halifax accounts, and not at all in the last 6 years. Large transfers are a possible, as in the last 12 months my ex has bought out my share in our house, and then I've bought a house myself, but these are transfers from and to my solicitors, there have only been those two over a 6 month period, and they were large sums to me, but I'm sure wouldn't be considered that large to a lot of people...



I'll have a look at the links you've sent. Thank you.

Have you checked your credit reports as stated above?

schoie81

sully1311 - not recently, certainly not since I received the letter. Would have been April the last time I looked at them.. I will have a look...


...but what am I looking for?? Just checking that there's nothing on there that I can't explain?

colsten

schoie81 wrote: »

..... in the last 12 months my ex has bought out my share in our house

Are you financially linked (on your credit files) to the ex? If so, the reasons may lie with the ex.

worried_jim

colsten wrote: »

Are you financially linked (on your credit files) to the ex? If so, the reasons may lie with the ex.

I agree, may not be the account holder (op) but an account or person(s) they are linked to, may have had a transfer (legitimate and legal such as £25 towards a shared meal) from an account that was linked to crime. Either way the OP will never find out, Halifax have decided that the potential risk is too great and have said cheerio.

schoie81

Checked credit reports - can't see anything glaring. My score on one has dropped a bit since the start of the year (but only a bit), but all three are saying my score is above average, and Experian give me 999/999. The one on which my score has dropped states not being on the electoral roll as being a potential issue, but this is incorrect and the other two show that I am on the register (I have been for years).



They show historical financial links with my ex, but nothing current. We have children together so we're in regular contact and I'm not aware that she's in or has been in any financial difficulties, nor involved in any crime! lol. I think I would know if she had.



If it's a case that I am financially linked to everyone who has ever sent me any money then I guess it's highly possible that that has caused the problem, and equally as unlikely I'll be able to work out who it is. Still think it's bad that Halifax wont tell me what the reason is. :-\

born_again

>> I rang them, and they said it's a decision made at branch level <<

I would be very surprised if a decision to close a account was done at branch level. Anything like this will need to be run past head office.
Unless you have been abusive to branch staff and then they will pass that on to get you removed as a customer.

>> obviously it's a pain to shift my accounts, <<

Switching accounts is simple. Just pick your new bank and they do all the work.

18cc

I have written about this on another thread but in my opinion I do not think banks should be allowed to close or freeze someone's bank account unless that person has used the account illegally or broken the terms and conditions of that account

The law should be changed to mandate the banks to have proper discussions with a customer about the exact reasons for their displeasure before initiating any action such as closure or suspension, and if they go ahead and do it and the customer has done nothing wrong then serious levels of compensation should be paid by the bank to the customer.

It is getting almost impossible to live without a bank account and there are too many stories of Banks going round suspending or closing accounts and credit cards of customers who appear to have done norhing wrong.

schoie81

born_again wrote: »

>> I rang them, and they said it's a decision made at branch level <<

I would be very surprised if a decision to close a account was done at branch level. Anything like this will need to be run past head office.
Unless you have been abusive to branch staff and then they will pass that on to get you removed as a customer.

>> obviously it's a pain to shift my accounts, <<

Switching accounts is simple. Just pick your new bank and they do all the work.

When I explained why I was ringing, the guy on the phone initially said it sounded very odd, but he'd check. He took a minute or so, then confirmed there was notes on my accounts to say they were all being closed by them. I asked if he could tell me why, and said he'd have to put me through to a different department (can't remember what he called them). They were the ones who said I'd have to enquire at my local branch because they would have made the decision. I've certainly not been abusive to branch staff - I don't even know if I've ever been in the branch!!



I know it doesn't take up a lot of my time to switch, but for someone who suffers from anxiety, receiving the letter, especially just before a holiday, leaving me 10 days to worry about it, and having to go through the process of replacing several bank accounts is emotionally stressful. :sad: Not that I expect Halifax to care about that...