Bank account being close

GeordieGeorge

Frequentlyhere said:

Thrugelmir said:

Only you know the activity that is going through your account , and whether it contravenes the terms and conditions you agreed to, or are of a more questionable nature. Banks don't arbitrarily close accounts for no reason. 

Not the case here perhaps, but I had an issue once (which I raised here) where Halifax bank did exactly this. In April 2020 (great timing) they told me they were closing all of my HBOS accounts including sharedealing - no reason whatsoever.

I learned from others that they don't 'like' perfectly legitimate P2P lending. I had been lending small amounts through LendingCrowd, an FCA regulated firm.  

I wrote them an appeal letter saying that i'd be happy to furnish any detail they needed to assure themselves about my account, and they overturned the decision purely on that basis. 

I mention it because I'd say that's pretty darn close to 'arbitrarily for no reason'

No reason other than the actual, real, specific one which they told you about...

Steve182

Posting such a question here in these circumstances and providing no detail of your situation shows either complete naivety, or a desire to seek attention.

The_Fat_Controller

If you read the OP's bankruptcy post, they seem to be evasive and unwilling to engage with officialdom, so I doubt very much they will tell us the whole story of what's going on.

GeordieGeorge

Steve182 said:

Posting such a question here in these circumstances and providing no detail of your situation shows either complete naivety, or a desire to seek attention.

I think, given the OP’s other threads, that I know which option my money’s on.

Thrugelmir

danjackson2021 said:

Thrugelmir said:

Only you know the activity that is going through your account , and whether it contravenes the terms and conditions you agreed to, or are of a more questionable nature. Banks don't arbitrarily close accounts for no reason. 

What would be an example of something questionable?

I didn’t think you could do something questionable in your bank account?

Easiest way to answer the question is that most peoples banking activity is very straightforward. With majority of transactions being salary/wages in , bill payments and cash withdrawn out. Not difficult to detect high levels of other activity. Business relationships are two way. Either party can give notice to terminate the relationship. 

bizdustry

I've had my bank account closed before. I struggle to understand why providers are allowed not to give a reason to the customer for closing the account. Giving a reason will clear up a lot of misunderstanding and false cases.

danjackson2021

bizdustry said:

I've had my bank account closed before. I struggle to understand why providers are allowed not to give a reason to the customer for closing the account. Giving a reason will clear up a lot of misunderstanding and false cases.

how could someone do something wrong ?

indidnt know there were rules for a bank account 

is there some kind of rule you have to stick to?

The_Fat_Controller

@danjackson2021, do you ever read the Terms and Conditions that come with a financial product such as a bank account ?

Frequentlyhere

The_Fat_Controller said:

If you read the OP's bankruptcy post, they seem to be evasive and unwilling to engage with officialdom, so I doubt very much they will tell us the whole story of what's going on.

Sure, just pointing out that banks do do this sometimes for little reason.

Also, to all those replying to me, if you re-read my post I did say " It may not be the case here but....." . In my case, it really was for a very crappy reason, that they never even explicitly acknowledged.

Frequentlyhere

GeordieGeorge said:

Frequentlyhere said:

Thrugelmir said:

Only you know the activity that is going through your account , and whether it contravenes the terms and conditions you agreed to, or are of a more questionable nature. Banks don't arbitrarily close accounts for no reason. 

Not the case here perhaps, but I had an issue once (which I raised here) where Halifax bank did exactly this. In April 2020 (great timing) they told me they were closing all of my HBOS accounts including sharedealing - no reason whatsoever.

I learned from others that they don't 'like' perfectly legitimate P2P lending. I had been lending small amounts through LendingCrowd, an FCA regulated firm.  

I wrote them an appeal letter saying that i'd be happy to furnish any detail they needed to assure themselves about my account, and they overturned the decision purely on that basis. 

I mention it because I'd say that's pretty darn close to 'arbitrarily for no reason'

No reason other than the actual, real, specific one which they told you about...

If you care to re-read my post, they never told me any reason, I second-guessed it from a forum post from someone else.
 
Frankly, even if they had have spelled it out then me choosing to invest small amounts in P2P is hardly a good reason is it?