Lloyds bank account closure

grumbler

Deleted_User said:

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).

https://www.lloydsbank.com/assets/media/pdfs/current-accounts/personal_banking_terms_and_conditions.pdf

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

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

Well, if this is the real reason, they MUST have given a two-month notice.

wmb194

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

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

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

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

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

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

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?