Santander are closing my business account

After 6 yrs Santander  are closing my business  account for no reason and they don't have to give me one as its in their  Ts and Cs. Only reason i can see is the reduced turnover in the last year. Its a bit strange as I have a bounce back loan with them which the repayment  comes out of the account!!
Any body have similar experience?

Comments

  • i've started another thread, similar topic:

    Santander asked me to "Update Sole Trader Details", they want, Tax Number & Last Years Turnover & Next Years Turnover.

    If I don't give Santander the info within 30days they will restrict usage of my bank account, so they say!!

    Fortunately, I have an alternative bank account I could use, but I could do without the hassle!!




  • sheramber
    sheramber Posts: 21,994 Forumite
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    After 6 yrs Santander  are closing my business  account for no reason and they don't have to give me one as its in their  Ts and Cs. Only reason i can see is the reduced turnover in the last year. Its a bit strange as I have a bounce back loan with them which the repayment  comes out of the account!!
    Any body have similar experience?
    Links on Google under 'Santander update details letter. from previous years.
  • Ergates
    Ergates Posts: 2,991 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Santander asked me to "Update Sole Trader Details", they want, Tax Number & Last Years Turnover & Next Years Turnover.

    If I don't give Santander the info within 30days they will restrict usage of my bank account, so they say!!


    Those sound like reasonable pieces of information for a bank to want to know about a business account - could you not supply them?
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