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Lloyds bank account closure

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24

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  • grumbler
    grumbler Posts: 58,629 Forumite
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    edited 8 May 2022 at 3:15PM
    Olinda99 said:
    "Sounds like from what you posted you broke Lloyds T&C's of your personal ..."

    It shouldn't have to 'sound like' - the customer should be told why the account was closed.
      they wish to simply dissolve the relationship. 
    25.1 This agreement continues until you or we cancel or end it. The table below shows how this agreement (or any account, benefits package or service) can be ended. If we end it, we will act in a manner we think is reasonable in the circumstances and will try to reduce the inconvenience to you.
    If we reasonably think that:
    there is illegal or fraudulent activity on or connected to the account;
    you are or may be behaving improperly (for example, in a threatening or abusive way);
    by continuing the agreement we (or another company in the Lloyds Banking Group) may be exposed to action from any government, regulator or other authority or may break a regulatory requirement; or
    you have seriously or repeatedly broken this agreement in any
    other way
    - Notice - None
    Any other reason. - Two months (in writing).


    IMHO, "to simply dissolve" falls under "any other reason"
    Immediate closure implicitly accuses the customer of breaking the agreement or illegal/fraudulent activity.
    If it's the former, then there is no reason to keep the reason secret. Even if it's the latter, general "illegal/fraudulent activity" can't be seen as "tipping".
    So, IMHO, the bank's behaviour is nowhere close to declared "reasonable".
  • wmb194
    wmb194 Posts: 4,905 Forumite
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    edited 8 May 2022 at 5:30PM
    Judging by the OP's posts in other threads about debt problems and overdrafts with other banks and the mention of an overdraft in this case I'd guess that it is to do with how it's been managed and Lloyds has decided to draw a line under it.
  • grumbler
    grumbler Posts: 58,629 Forumite
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    Well, if this is the real reason, they MUST have given a two-month notice.
  • wmb194
    wmb194 Posts: 4,905 Forumite
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    grumbler said:
    Well, if this is the real reason, they MUST have given a two-month notice.
    The OP states they have been given two months to repay the overdraft so that's what it sounds like.
  • GTR_King
    GTR_King Posts: 1,980 Forumite
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    edited 8 May 2022 at 8:54PM
    Sounds like OP Has miss managed his Business O.D and savings & Broke T&C's that's why Lloyds closing his account and demanding O.D Being paid back ASAP/within 2 months
  • grumbler
    grumbler Posts: 58,629 Forumite
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    wmb194 said:
    grumbler said:
    Well, if this is the real reason, they MUST have given a two-month notice.
    The OP states they have been given two months to repay the overdraft so that's what it sounds like.

    wmb194 said:
    Judging by the OP's posts in other threads about debt problems and overdrafts with other banks and the mention of an overdraft in this case I'd guess that it is to do with how it's been managed and Lloyds has decided to draw a line under it.
    I disagree. The OP states "all of the sudden, everything gets closed. My cards no longer work, online banking has been taken away."
    Overdraft can be withdrawn and some time can be given to pay it off. Closing "everything" requires a two-month notice.
  • sheramber
    sheramber Posts: 22,451 Forumite
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    grumbler said:
    wmb194 said:
    grumbler said:
    Well, if this is the real reason, they MUST have given a two-month notice.
    The OP states they have been given two months to repay the overdraft so that's what it sounds like.

    wmb194 said:
    Judging by the OP's posts in other threads about debt problems and overdrafts with other banks and the mention of an overdraft in this case I'd guess that it is to do with how it's been managed and Lloyds has decided to draw a line under it.
    I disagree. The OP states "all of the sudden, everything gets closed. My cards no longer work, online banking has been taken away."
    Overdraft can be withdrawn and some time can be given to pay it off. Closing "everything" requires a two-month notice.
    Since nobody knows the reason  for the closure it is all speculation and not worth arguing about.
  • grumbler
    grumbler Posts: 58,629 Forumite
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    That was my original point - we don't know only because of Lloyds' arrogant and caddish behaviour. I absolutely agree with other posters that mass media attention needs to be drawn to this sort of behaviour.
  • kaMelo
    kaMelo Posts: 2,856 Forumite
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    grumbler said:
    That was my original point - we don't know only because of Lloyds' arrogant and caddish behaviour. I absolutely agree with other posters that mass media attention needs to be drawn to this sort of behaviour.
    We don't know because the OP hasn't told us exactly what Lloyds have said/done, they have told us what they think Lloyds have done.
    The one thing that caught my eye and hasn't been explored is why they applied for a protective CIFAS registration. People don't just do that for no reason, is the reason they felt the need to apply for it, the reason that Lloyds have closed the accounts. 
    Without the information as to why they applied for a protective CIFAS or knowing exactly what Lloyds have said (rather than a summary interpretation) it is not possible to give any meaningful help
  • missile
    missile Posts: 11,769 Forumite
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    I had never heard of "protective CIFAS" and had to google it.
    That might well be cause for concern and a red flag to any bank?
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
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