Lloyds close my account without any reason, can I reopen the account after few years?

bradders1983

You want people to share ideas about how to launder money? 🤔🤔

elsien

Trying to work out what falls foul of the banks procedures here to avoid the same thing happening again for perfectly valid transactions does not mean OP is looking for money laundering ideas. 

Dr_Crypto

Most people in the UK have one or two accounts. 
They have one they use for day-to-day use which means their salary/ student finance is paid into this. They pay most things out of this account. If people give them cash they will deposit it into this account. However, most people will not regularly deposit large sums of cash into their accounts. 
People also tend not to move money between accounts for no reason. So, for example, you may move money to and from a savings account. 

eskbanker

xlnc99 said:

Too many people on this forum who have no idea what they are talking about and think they are experts talking about 'money laundering' when depositing 1k in cash or 'moving money' around to other accounts. 

Seriously? Why .... just why?

Gold help us

Obviously nobody on here knows why Lloyds are closing OP's account, so the only place OP could get that information would be Lloyds themselves, and they're unlikely to divulge anything in meaningful detail.

So, in the absence of knowing the definitive reason, people are offering suggestions as to what may have triggered this - inevitably this entails a certain degree of speculation (some informed, some less so) but the only realistic alternative would be to say to OP 'nobody on here knows, ask the bank'.  Granted, OP didn't actually ask why their account was closed but the subject of the (un)likelihood of future business is clearly entwined with the root cause, and there's obviously little point in OP moving to another bank and repeating the same pattern of activity, only to encounter the same response.

However, the words 'money laundering' are often emotive, in that many, perhaps including yourself, don't seem to appreciate the difference between acting in such a way as to trigger checks put in place to satisfy anti money laundering legislation versus actually being accused of money-laundering....

Why do you believe OP is having their account closed?

Tragen

Banks can be prejudiced, they dont like your banking behaviour, presumably because of your origin country.

Forget Lloyds, just choose another bank and carry on. You have time to take advantage of a switch deal, so why not do that?

dunstonh

Banks will also periodically look at unprofitable accounts.   Salary in and almost immediately paid out to another bank is one of the types they target.   Its not always about activity in a suspicious way but in a commercial way.

xlnc99

eskbanker said:

xlnc99 said:

Too many people on this forum who have no idea what they are talking about and think they are experts talking about 'money laundering' when depositing 1k in cash or 'moving money' around to other accounts. 

Seriously? Why .... just why?

Gold help us

Obviously nobody on here knows why Lloyds are closing OP's account, so the only place OP could get that information would be Lloyds themselves, and they're unlikely to divulge anything in meaningful detail.

So, in the absence of knowing the definitive reason, people are offering suggestions as to what may have triggered this - inevitably this entails a certain degree of speculation (some informed, some less so) but the only realistic alternative would be to say to OP 'nobody on here knows, ask the bank'.  Granted, OP didn't actually ask why their account was closed but the subject of the (un)likelihood of future business is clearly entwined with the root cause, and there's obviously little point in OP moving to another bank and repeating the same pattern of activity, only to encounter the same response.

However, the words 'money laundering' are often emotive, in that many, perhaps including yourself, don't seem to appreciate the difference between acting in such a way as to trigger checks put in place to satisfy anti money laundering legislation versus actually being accused of money-laundering....

Why do you believe OP is having their account closed?

Whenever one of these famous threads come on the forum (i am talking about the 'bank has closed down account thread' and as sure as night and day these threads will forever come on here until the end of time) - the first responses people give us 'money laundering'. Its just laughable really. Most (not all) dont have a clue what it is, but seem to be experts on money laundering.

I have no idea why the bank have shut his account but my based on the OP points money laundering would not be on the top list. 1k cash deposits wont trigger anything. Moving money from accounts to accounts - everyone does it. Furthermore, the bank gave 65 days to close the account which is over 2 months. If it was something serious or something illegal then he would not be given 65 days - u should know this, you come across quite smart.

We should also bear in the mind the OP most likely hasnt told us the full details (no blame on him), maybe due to shame or personal reasons. Rarely you see people come on here and admit everything to a tee. 

My only guess is, it could be something to do with him being an international student and quite possibly brexit. The date of closure 2 months is exactly Jan 1 2021 - (i maybe wrong but isnt there some new rules from Jan 2021)???? Again this is pure speculation. For the bank to give 65 days notice and also say to the customer 'we will not accept your applications in the future' leads me to believe that he did not get 65 days notice, and more like 7 days notice but hasnt told us the full story. Most likely did something wrong, fraud, scam etc. He just told us 65 days to paint a picture of himself not looking dodgy. 

It does not make sense for the OP to do something very wrong for the bank to say will not accept you in the future then give them a further 2 months of access to the bank account. 7 days would be most.

eskbanker

xlnc99 said:

eskbanker said:
However, the words 'money laundering' are often emotive, in that many, perhaps including yourself, don't seem to appreciate the difference between acting in such a way as to trigger checks put in place to satisfy anti money laundering legislation versus actually being accused of money-laundering....

Whenever one of these famous threads come on the forum (i am talking about the 'bank has closed down account thread' and as sure as night and day these threads will forever come on here until the end of time) - the first responses people give us 'money laundering'. Its just laughable really. Most (not all) dont have a clue what it is, but seem to be experts on money laundering.

Congratulations on making my point for me by missing the point again....

Ed-1

xlnc99 said:

eskbanker said:

xlnc99 said:

Too many people on this forum who have no idea what they are talking about and think they are experts talking about 'money laundering' when depositing 1k in cash or 'moving money' around to other accounts. 

Seriously? Why .... just why?

Gold help us

Obviously nobody on here knows why Lloyds are closing OP's account, so the only place OP could get that information would be Lloyds themselves, and they're unlikely to divulge anything in meaningful detail.

So, in the absence of knowing the definitive reason, people are offering suggestions as to what may have triggered this - inevitably this entails a certain degree of speculation (some informed, some less so) but the only realistic alternative would be to say to OP 'nobody on here knows, ask the bank'.  Granted, OP didn't actually ask why their account was closed but the subject of the (un)likelihood of future business is clearly entwined with the root cause, and there's obviously little point in OP moving to another bank and repeating the same pattern of activity, only to encounter the same response.

However, the words 'money laundering' are often emotive, in that many, perhaps including yourself, don't seem to appreciate the difference between acting in such a way as to trigger checks put in place to satisfy anti money laundering legislation versus actually being accused of money-laundering....

Why do you believe OP is having their account closed?

Whenever one of these famous threads come on the forum (i am talking about the 'bank has closed down account thread' and as sure as night and day these threads will forever come on here until the end of time) - the first responses people give us 'money laundering'. Its just laughable really. Most (not all) dont have a clue what it is, but seem to be experts on money laundering.

I have no idea why the bank have shut his account but my based on the OP points money laundering would not be on the top list. 1k cash deposits wont trigger anything. Moving money from accounts to accounts - everyone does it. Furthermore, the bank gave 65 days to close the account which is over 2 months. If it was something serious or something illegal then he would not be given 65 days - u should know this, you come across quite smart.

We should also bear in the mind the OP most likely hasnt told us the full details (no blame on him), maybe due to shame or personal reasons. Rarely you see people come on here and admit everything to a tee. 

My only guess is, it could be something to do with him being an international student and quite possibly brexit. The date of closure 2 months is exactly Jan 1 2021 - (i maybe wrong but isnt there some new rules from Jan 2021)???? Again this is pure speculation. For the bank to give 65 days notice and also say to the customer 'we will not accept your applications in the future' leads me to believe that he did not get 65 days notice, and more like 7 days notice but hasnt told us the full story. Most likely did something wrong, fraud, scam etc. He just told us 65 days to paint a picture of himself not looking dodgy. 

It does not make sense for the OP to do something very wrong for the bank to say will not accept you in the future then give them a further 2 months of access to the bank account. 7 days would be most.

Thus will be the letter OP got:

Natwest also ban you from future applications even if they give 60 days notice of closure.

This does have logic: If they're making a commercial decision to reject your business based on your history with them, why would they accept it in future?

jonesMUFCforever

dunstonh said:

Banks will also periodically look at unprofitable accounts.   Salary in and almost immediately paid out to another bank is one of the types they target.   Its not always about activity in a suspicious way but in a commercial way.

I have to admit it is very rare for me to disagree with you - your posts are always spot on - but in this case I have to.
Accounts as you suggest above may not be profitable per se but give the bank marketing leverage that they would not have if they were not a customer for such things as mortgages, Home insurance, Life insurance, Pensions, Loans , Credit cards etc etc.
If you believe HSBC from their figures last week when they were suggesting that they MAY charge for current accounts in the future - then most current accounts are unprofitable for a bank.