Bank account being close

dunstonh

thewinelake66 said:

dunstonh said:

would the financial ombudsman be able to help me?

No business is required to offer their services to you.  So, as long as its not discrimination, they can choose to withdraw their services and the FOS cannot and will not intervene.

What does "discrimination" mean here, please?

The usual legal definition.  Race, gender, sexuality, disabilities etc.

colsten

thewinelake66 said:

dunstonh said:

would the financial ombudsman be able to help me?

No business is required to offer their services to you.  So, as long as its not discrimination, they can choose to withdraw their services and the FOS cannot and will not intervene.

What does "discrimination" mean here, please?

Discrimination can come in various forms. search this FOS document for examples: https://www.financial-ombudsman.org.uk/files/2862/issue123.pdf

eskbanker

thewinelake66 said:

dunstonh said:

would the financial ombudsman be able to help me?

No business is required to offer their services to you.  So, as long as its not discrimination, they can choose to withdraw their services and the FOS cannot and will not intervene.

What does "discrimination" mean here, please?

As you suggested, it's an unhelpfully ambiguous word that effectively has two uses, i.e. in its broad sense it just means distinguishing or differentiating, but it's often used as shorthand for unlawful discrimination.  Clearly the latter is actionable, but the former is usually legitimate - FOS does judge cases on the basis of what's fair and reasonable rather than being constrained only by the laws and regulations, but I don't know if anyone has ever convinced FOS that account closure was unfair or unreasonable to the extent that they had the decision reversed or compensation awarded.  The fact that banks aren't obliged to give reasons obviously hinders such a complaint....

redpete

danjackson2021 said:

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?

Many banks offer, for example, linked regular savings accounts paying decent interest and these are linked to current accounts.  (You original post implies you might be benefiting from one of these linked savings accounts.)  They don't do this as a social service, they do it to attract customers who will make them money.  They would like the current account to be your main current account and have conditions to try to ensure this, such as a minimum amount paid in each month and a minimum number of direct debits.   Many people play the game and cycle money round many accounts - I do myself.  I couldn't really complain if one of them decides they are fed up with me obviously playing the game and close the account.  I am complying with the Ts & Cs but I'm not the type of customer they would like me to be.