Kicked out by your bank...

born_again

schoie81 wrote: »

Well I don't really know what "facts" I missed out of my OP... I certainly didn't intentionally leave any details out to try to hide anything or mislead anyone..

1st off glad you are sorted and set up at your new bank. I wouold just reinstall the app and check that all accounts are closed. As you can not switch savings and credit cards.

It is things like what you do with your account, Dispute a lot of payments, claim fraud, paying a lot of cash and moving to 3rd parties?

There are so many things that can prompt a bank to say "We do not want you" This is easy for me to say, but not something that someone not working at a bank realises.

Eco_Miser

phillw wrote: »

So the criminals can figure out a way through the system?

That is the problem, if they give the exact reason and let you off because you didn't realize, then you're likely to evade detection a second time.

There's no need for an exact reason, but something generic such as 'You have been abusive to staff' or 'We don't consider your account to be commercially viable for us' or 'your pattern of use has raised concerns' would allow the customer to understand the decision better.

bobblebob

The problem when they dont tell you is how can you appeal something you dont know what you're appealing?


If its some mistake, you could appeal, but you dont know if it is a mistake. Yes you can go to another bank, but what if there is some mark against your name that has been placed there in error, meaning no bank will touch you. Again you wont know because Halifax wont tell you anything

bobblebob

MovingForwards wrote: »

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.

Do banks make money when you pay for stuff on debit/credit cards? I assumed they got a small transaction fee everytime you did

System

Eco_Miser wrote: »

There's no need for an exact reason, but something generic such as 'You have been abusive to staff' or 'We don't consider your account to be commercially viable for us' or 'your pattern of use has raised concerns' would allow the customer to understand the decision better.

You might be okay with that but I can imagine that some former customers could be litigious or post negative info on social media.

Easier to just say that the relationship is being terminated - factual and not particularly easy to challenge.

bobblebob

As much as we see threads like this popping up fairly regularly, im guessing its still very rare going on the millions of customers they have, to close accounts for little obvious reasons?

jonesMUFCforever

I will put in my 2p worth.

There is no way that any bank would close your account because in your opinion you are not profitable for them.

Even if you pay no interest on overdrafts or credit card they make money by lending your money on the money markets - they get a cut of debit card and credit card transactions.

So for the OP here - there must have been a trigger here to make them want to close the account - OP says he is basically squeaky clean but Halifax disagree.
We will never know why BUT there has to be a reason, a transaction or series of transactions which has alerted them to something.

schoie81

As bobblebob says, my grievance is that they've not told me why they are doing it, but say that I can appeal their decision - how can I appeal a decision when I don't know what that decision is based on? What could I possibly base my appeal on? Their reasons for closing my accounts might be 100% fully justified, but could be completely false - I have no idea. I understand people's points about giving too much detail could help people carry out fraud without being detected in future, but I feel that, as Eco Miser says, a general explanation of the reason would have been helpful and courteous.



From what people have said, it seems there are two likely reasons... I do switch money from my current account to other accounts with two other banks quite a bit - they're savings accounts in my name, but with another bank, so maybe they're dubious about that, but as I've said, I'm fairly certain it is not illegal to switch my money to another of my accounts with another bank if I wish. The other possibility is as I've mentioned before, my ex bought out my share of our marital home last year, and then I bought a house of my own at the start of this summer, so I've had two large sums of money go in and out of the account around 6 months apart. Again, nothing illegal, and I'm pretty sure people must do this kind of thing all the time when buying and selling property, but maybe that's spooked them.



Anyway, I've moved my accounts, and got a switching incentive whilst doing so, so all good for me in the end.

born_again

schoie81 wrote: »

, my grievance is that they've not told me why they are doing it, but say that I can appeal their decision - how can I appeal a decision when I don't know what that decision is based on? What could I possibly base my appeal on?

The appeal will be dealt with by the complaints team, who look at things in a different light. I have had decisions I have made overturned by our complaints team. Despite not doing anything wrong. It is the way we & they look at each case.
So you do not need the reason why they want to close you down. You just need to say you want to appeal the decision.
But as you said you are shot of Halifax. So it's not worth the trouble.

Eco_Miser

jonesMUFCforever wrote: »

There is no way that any bank would close your account because in your opinion you are not profitable for them.

Even if you pay no interest on overdrafts or credit card they make money by lending your money on the money markets - they get a cut of debit card and credit card transactions.

I'm pleased about that, because I can't see Halifax making any money out of me, not only don't I pay interest, I don't use their cards, and my typical balance is less than £50 , and they pay me £2 a month as a reward.