Santander closed my Business account!?!?

Timigecaj

I opened a Business account with Santander more that 3 years ago. I have never been overdrawn and generated more that £50.000 last year only. A few months ago I informed the Bank that my address(A) has changed temporarily to (B): there were a lot of building works going on the building and I had to move out to a temporary address. Last week I applied online for the Bounce Back Loan government scheme through Santander. I gave all my details but also gave the old address(A) not the temporary (B)one which I`m still at. Immediately I could not use the online banking. Got a message to ring the bank. I did, they told me They have closed my account and I can not use the card anymore but free to go to a branch to collect my £500. They gave no explanation, only to contact CIFAS which I have but have to wait 10 days for a reply....Meanwhile I received an email saying they are"sorry" that the loan request has not been aproved. they also wrote to me at address (B) to say that unfortunately they have decided to close my businesses account! 
How is this possible; the government is trying to help businesses but the bank not only DID not approve the loan they ALSO close my account!!!!!!!
  

[Deleted User]

Timigecaj said:

I opened a Business account with Santander more that 3 years ago. I have never been overdrawn and generated more that £50.000 last year only. A few months ago I informed the Bank that my address(A) has changed temporarily to (B): there were a lot of building works going on the building and I had to move out to a temporary address. Last week I applied online for the Bounce Back Loan government scheme through Santander. I gave all my details but also gave the old address(A) not the temporary (B)one which I`m still at. Immediately I could not use the online banking. Got a message to ring the bank. I did, they told me They have closed my account and I can not use the card anymore but free to go to a branch to collect my £500. They gave no explanation, only to contact CIFAS which I have but have to wait 10 days for a reply....Meanwhile I received an email saying they are"sorry" that the loan request has not been aproved. they also wrote to me at address (B) to say that unfortunately they have decided to close my businesses account! 
How is this possible; the government is trying to help businesses but the bank not only DID not approve the loan they ALSO close my account!!!!!!!
  

 Why lie about your address on your loan application? 

Grumpy_chap

I think you can only wait until you find about about the CIFAS marker - it may not be related to the two addresses.

jonesMUFCforever

What type of business are you in? Was the £50k you mention your turnover or gross/net profit? If it was profit and you only have £500 in the account now - where has the rest gone?
You might be right in that the application for the bounce back loan made Santander look carefully at your account and it might have triggered something that they did not like - or it might just be coincidence.