Trying to close Abbey current account

habssmith

Hi there,
I don't know if anyone can help.
We have been trying to switch current account from Abbey to The Co-operative Bank. We started this process in August and it has been tortuous. Abbey never responded to requests from The Co-op to provide DD listings - in the end I had to call repeatedly to get a list sent to me which I hand-delivered to my new bank. This process took 2 months.
Then Abbey received the instruction from the Co-op to close our account and transfer funds to our new account. On 9th November they closed our account. I kept checking new account but no transfer... called on 19th November to be told that the previous Friday a cheque had been raised and send to us. Waited all week for cheque which did not appear. Called *again* on Friday 23rd November and was then told that no cheque had been raised, that our account balance was £0 and that the funds were now in a 'holding account' - not accessible to us. The only thing he could suggest was to go into the branch (in town - a huge hassle - but I will go on Monday morning) who should be dealing with this - to sort it out.
So I will go and do not intend to leave without the cash (it is a considerable amount) - however I am not convinced that this will work.
I am wondering if I can ask for the interest they must have accrued since our account was closed on 9th November. Also if I can make any claim for all the phone calls and 2 trips into town I will have had to make to sort this out. What can or should I ask for?

To say I am furious at this point is an understatement. They have been obstructive from the start of the account transfer process (we have banked with them for year with no issues or charges etc) and have now effectively stolen our money

Anyhow - if anyone could provide any advice I would be really grateful.

Many thanks
habs

LittleVoice

I didn't know that one bank could tell another to close an account: I thought the account holder had to do that directly.

I'm not sure whether one bank could ask the other for the balance (rather than a specific amount) to be remitted to them. If that is the case, the original account would remain open with a zero balance.

Did the Co-op bank have an "offer" which meant they had to do the transfers? If not, with that wonderful thing known as hindsight, it would have been easier for you to transfer the funds from Abbey - to push it from Abbey rather than have the Co-op pull it out.

If Abbey drew a cheque for the balance on 9 November and posted it to you, it may have been caught up in Royal Mail's industrial actions. That is not Abbey's fault and no compensation would be due.

On Monday, ask Abbey to put a stop on the original cheque and transfer the funds electronically to your Co-op account. As the cheque appears to have been lost in the post, there would be no charge for the cancellation.

johnmoney05

LittleVoice wrote: »

I didn't know that one bank could tell another to close an account: I thought the account holder had to do that directly.

I can confirm that "yes". You can instruct your new bank to close your old bank account using account transfer service. And you will sign the authorisation.

LittleVoice wrote: »

I'm not sure whether one bank could ask the other for the balance (rather than a specific amount) to be remitted to them. If that is the case, the original account would remain open with a zero balance.

Yes again, at the end of the account swtich, your new bank can ask your old bank to close the account and transfer the balance to the new bank.

LittleVoice wrote: »

Did the Co-op bank have an "offer" which meant they had to do the transfers? If not, with that wonderful thing known as hindsight, it would have been easier for you to transfer the funds from Abbey - to push it from Abbey rather than have the Co-op pull it out.

Yes again and again. Some new accounts offer better deal only if you use their swtiching service.

LittleVoice wrote: »

If Abbey drew a cheque for the balance on 9 November and posted it to you, it may have been caught up in Royal Mail's industrial actions. That is not Abbey's fault and no compensation would be due.

The cheque should not be posted to the account holder, but the new bank if using the swtiching service. Let's not to blame Royal Mail for everything. I have had lots of problem with Abbey since this September.

LittleVoice wrote: »

On Monday, ask Abbey to put a stop on the original cheque and transfer the funds electronically to your Co-op account. As the cheque appears to have been lost in the post, there would be no charge for the cancellation.

At last, sensible advice.

Lodge a complaint with the branch, well, nothing lost to you. If you are not satisfied with their response. Make them know that you will take it further with Financial Ombudsman.

By the way, sorry for your problem.