Kicked out by your bank...

18cc

I think it was Halifax who have been going around closing people's credit cards as well there was a thread about it on the credit card board

DCFC79

Disregard your score as only you can see it.
Lenders etc see your credit history.

Something has obviously spooked them to close the accounts.

Only involvement with bitcoin or been used as a money mule ?

I'd advise you go to the 2 websites mentioned earlier.

haras_nosirrah

if there is any hint of money laundering being the reason they legally cannot tell you the reason.

I would say check national hunter and cifas

MovingForwards

The fact they are giving you 65 days to bank somewhere else is a clue that it's probably nothing you have done, they just don't want you as a customer. It might be because you are not making them money ie in overdraft payments, packaged fee accounts, interest on credit cards etc.

From reading other threads about people who have dabbled with bitcoin, heavier gambling, strange accounting eg numerous random transfers, they normally get frozen or 7 days to bank elsewhere.

Use this time to find a better place for your money and go enjoy your holiday!

schoie81

Thanks all,



I have checked all three credit agencies. I don't think they'd see anything that looks like money laundering on my accounts, but then I've no idea what they'd be looking for!! I am certainly not "loaded" so there's not a high volume of money going through my account - my monthly salary being by far the highest figure paid in or out.



MovingForward - I did wonder if it might just be that there isn't really anything in it for them having me as a customer as I pay off my credit card each month, so never pay interest, and don't go into my overdraft, so they don't get any interest payments off me.



I will check the links people have posted and see if they shed any light on it, but it looks as though I will just never know...

soulsaver

Just curious: If you're 'kicked out' by Haliax will that suggest you aren't going to be able to open an account at LBG (HBoS/Lloyds/Scottish Widows) at all?

Sea_Shell

schoie81 wrote: »

MovingForward - I did wonder if it might just be that there isn't really anything in it for them having me as a customer as I pay off my credit card each month, so never pay interest, and don't go into my overdraft, so they don't get any interest payments off me.
...

Blimey, if that's their reason, then I'm due to have all my accounts and cards closed. Many of us on here make our banking work for us...not the other way round. It's not unusual.

18cc

Definately not unusual I also have rarely paid my bank or credit card anything.

Alex9384

molerat wrote: »

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 ?

What is considered a large sum? And is it usually a problem?

I send £2500 between my multiple current accounts every month. It comes from one account (in my name) and few days later goes out to my other account, and so on.
The only thing I have noticed is that NatWest is now offering me £5200 overdraft and I've been pre-approved for all Halifax credit cards, and their £2500 overdraft (increased from £1000 they offered me earlier).

Btw, you can't send money from crypto exchange to your bank account, or what?

born_again

18cc wrote: »

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.

These posts we see here, never tell the whole story, or actually include the full facts of what the customer has been doing with their accounts.
Only they have got a letter saying they are having their accounts closed down..
I have sent accounts to be reviewed due to customers simply not telling the truth on situations we deal with on several occasions. Or claiming fraud when it clearly is not.
It's called breech of trust.
Every employee at the bank has a duty of care to report anything they feel is not right. Failure to do so can lead to the sack and a massive fine for not doing so. Al la HSBC.
AML is something that gets mooted here, as to why accounts are being closed. Does not happen very often.
It is the law that says why a bank can't tell a customer why. Which is how it should be. Or banks would be telling customers how to avoid getting caught...