Lloyds Group Closing My Bank Accounts

Ed-1

notveryeducated said:

Ed-1 said:

DPrentice2020 said:

Yes that's the text. Thanks for posting the letter. Do you know any more about why you received it?

I didn't receive the text but I did receive the letter. It's when something about either your account activity or information held about you on credit files and fraud prevention agencies has highlighted concerns. Note that it doesn't prevent you from banking with Lloyds Group in future (that's a separate decision and letter).

How do you know he can bank with LBG in the future judging from the letter?

Personal experience. But also note that the letter says nothing about a future relationship. It says based on a CURRENT assessment (that takes into account everything), they don't CURRENTLY want a relationship

Contrast that letter with another letter that you can get:


"Please note that this also applies to any other accounts you may open with the bank at any future point in time..."

notveryeducated

Ed-1 said:

notveryeducated said:

Ed-1 said:

DPrentice2020 said:

Yes that's the text. Thanks for posting the letter. Do you know any more about why you received it?

I didn't receive the text but I did receive the letter. It's when something about either your account activity or information held about you on credit files and fraud prevention agencies has highlighted concerns. Note that it doesn't prevent you from banking with Lloyds Group in future (that's a separate decision and letter).

How do you know he can bank with LBG in the future judging from the letter?

Personal experience. But also note that the letter says nothing about a future relationship. It says based on a CURRENT assessment (that takes into account everything), they don't CURRENTLY want a relationship

Contrast that letter with another letter that you can get:
"Please note that this also applies to any other accounts you may open with the bank at any future point in time..."

Sounds good. Thanks for clearing that up. 

DPrentice2020

Ed-1 just to say thank you. Letters arrived today and are exactly as you predicted.

A_Lert

DPrentice2020 said:

I guess the business application combined with me shifting money between my accounts every month to meet interest criteria, etc. means they have seen a pattern which means they don't want my business any longer, which is of course their prerogative. I had current accounts with all 3 brands.

I think you're right. Sounds like you're basically making transfers just to take advantage of the banks' "best" accounts (in terms of perks, interest, and so on). It's understandable that the banks have caught on and decided no.

Be grateful if it is only that. If they suspect money laundering things get far worse for the customer.

notveryeducated

Ed-1 said:

notveryeducated said:

"Please note that this also applies to any other accounts you may open with the bank at any future point in time..."

What kind of things would a customer have to do / be suspected of doing to get this letter?

Ed-1

notveryeducated said:

Ed-1 said:

notveryeducated said:

"Please note that this also applies to any other accounts you may open with the bank at any future point in time..."

What kind of things would a customer have to do / be suspected of doing to get this letter?

Beats me 🤷‍♂️

But one thing I've noticed is that the letter you've got is all about current risk (both credit and fraud), whereas the other letter is about them not wanting you as a customer at all.

paulelcock

I have a letter from a debt collecting company called Wescott who are chasing money from me from an old Santander bank account. It was a business account from my sole trader business that I used till retiring due to ill health in 2012.The account wa left empty but I forgot to close it. Santander did not forward me to my home address any statements or letters concerning this account.All correspondence had gone to my old business address. So Unbeknown  to me There was a standing order coming out once every 12 months of £100 and Santander didn’t freeze the account till 2014 by which time £554 including bank charges had been debited from it. 

It was obviously my fault that I didn’t cancel the standing order or the close the account but Santander said they did not have my home details. I find that hard to believe as I couldn’t have open the account without that information and the debt collecting agency have no problem finding my home address. I would be happy to pay for the standing  orders but not the accrued bank Charges as I feel Santander could of tried harder to contact me so I could have rectified it much sooner.

. What does anyone else think?

eskbanker

paulelcock said:

What does anyone else think?

I think you should start your own thread instead of hijacking this unrelated one....

DPrentice2020

I'll probably do another SAR to CIFAS at the end of the 60 day closure period just for reassurance. The one I got back yesterday was a full week after my text notifications about closure and I think there's an obligation for CIFAS markers to be uploaded ASAP so hoping I'm in the clear CIFAS-wise. Still waiting for my National Hunter file.