Lloyds banking group closing accounts - cifas?

kaMelo

Or maybe due to the number of new cards you keep asking for they're worried that at some point they will get a call °someone intercepted my card in the post and spent megabucks with it° and been proactive in preventing it.

eskbanker

Lauren01342 said:

I hadn’t reported a card lost for years, then since changing my work environment I have lost like 5 in 2 months

Just to pick up on this point, losing five cards in two months (five separate incidents or multiple cards in one or more?) is an extraordinary number, so it's unsurprising that it's spooked them - you can obviously change banks but if your work environment stays the same then won't you potentially hit the same issue again?

emmajones1976

I dont understand what is meant by "work environment". Is someone stealing them from work?

Maybe dont take your card to work - put it on your phone on Google/Apple Pay if you must.

mab3000

While Lloyds are the only party to know exactly why they are closing your accounts and what they have done, I would say that if something has been done that by you that justifies a CIFAS fraud marker, they are more likely to close the account straight away rather than give you 60 days notice. 

As regards to them telling you they are closing it as you’ve had to many cards. Whilst that could be a reason or one of the reasons, I would take a guess that the person you have spoken to may have just looked at that as a reason to tell you to fob you off, as front line staff don’t get to see the reason why the decision has been taken. If it is to do with ordering too many cards, that wouldn’t justify A CIFAS marker on its own. 

Ergates

Given the increasing amount of legislation that makes banks responsible for refunding customers who are victimes of fraud, I can see why a bank might be wary of a customer who has lost 5 cards in 2 months.  Only a matter of time before one of them ends up in the wrong hands and the bank has to refund you a load of fraudulent transactions.

born_again

How many of these 5 cards have been used fraudulently? 

[Deleted User]

CIFAS sounds unlikely but a Subject Access Request to whichever Lloyds Banks(s) might provide some insight. I would apply elsewhere (if you haven't already got another account) and move on.

Thrugelmir

Deleted User said:

CIFAS sounds unlikely but a Subject Access Request to whichever Lloyds Banks(s) might provide some insight. I would apply elsewhere (if you haven't already got another account) and move on.

SAR will never reveal a decision made on commercial grounds. T&C's allows the bank to terminate the business relationship. 

[Deleted User]

Thrugelmir said:

Deleted User said:

CIFAS sounds unlikely but a Subject Access Request to whichever Lloyds Banks(s) might provide some insight. I would apply elsewhere (if you haven't already got another account) and move on.

SAR will never reveal a decision made on commercial grounds. T&C's allows the bank to terminate the business relationship. 

A SAR will provide whatever info they have bar any that they are legally able to withhold/redact - which is fairly limited.

Hence the phase 'some insight'...

Lauren01342

Hi everyone thank you. I have spoken to them and they said commercial decision. Now to tackle paying my credit card off in 60 days, part of my balance is where I have done a balance transfer from another card. Do you think they will refund me the ‘fee’ as obviously I am not getting the 24 months interest free?