LBG closing all my accounts on 18th May

WillPS

Highly suspect this check's timing was a coincidence, but lets see what is said.

Bridlington1

ForumUser7 said:

Speculator said:

If anyone has an Al Rayan account, it might be a good idea to close it asap, especially if you have accounts with Lloyds/BOS/Halifax.

@speculator ... It's unlikely all Al Rayan customers will be searched, and then all have their LBG accounts closed down. Let's wait to hear back from @bridlington1 first, they are being very open about this.

If anyone wants to close their Al Rayan accounts, it's your choice, but it feels unlikely this will have a blanket effect across their whole customer base. I disagree with it being 'a good idea' at this stage.

I'm keeping Al Rayan as it's often had a market leading interest rate.

Besides if they suspect me of fraud/been the victim of fraud they will likely close my account for me and return my 1p balance. so there seems little point closing it. 

I shall ring them tomorrow morning as I won't be home till after the lines close today so shall post in this thread with any updates then.

Bridlington1

Speculator said:

If anyone has an Al Rayan account, it might be a good idea to close it asap, especially if you have accounts with Lloyds/BOS/Halifax.

I suspect we may be in danger of crossing the line into hysteria here.

MikeJXE

Bridlington1 said:

Speculator said:

If anyone has an Al Rayan account, it might be a good idea to close it asap, especially if you have accounts with Lloyds/BOS/Halifax.

I suspect we may be in danger of crossing the line into hysteria here.

Lol I think that bridge was crossed some time ago 

Band7

Bridlington1 said:

Speculator said:

If anyone has an Al Rayan account, it might be a good idea to close it asap, especially if you have accounts with Lloyds/BOS/Halifax.

I suspect we may be in danger of crossing the line into hysteria here.

Like you, I will keep my Al Rayan accounts.

As to why they searched you: I would say a search is completely harmless. All banks can search CIFAS - it's the only way for them to find out whether you have a marker for fraud committed by yourself, as these don't show on the credit reference files. Did you apply for an Al Rayan account on March 13?

Ed-1

Band7 said:

Bridlington1 said:

Speculator said:

If anyone has an Al Rayan account, it might be a good idea to close it asap, especially if you have accounts with Lloyds/BOS/Halifax.

I suspect we may be in danger of crossing the line into hysteria here.

Like you, I will keep my Al Rayan accounts.

As to why they searched you: I would say a search is completely harmless. All banks can search CIFAS - it's the only way for them to find out whether you have a marker for fraud committed by yourself, as these don't show on the credit reference files. Did you apply for an Al Rayan account on March 13?

Just to be clear - all CIFAS markers show to lenders on CRAs, just not to consumers.

Bridlington1

Band7 said:

Bridlington1 said:

Speculator said:

If anyone has an Al Rayan account, it might be a good idea to close it asap, especially if you have accounts with Lloyds/BOS/Halifax.

I suspect we may be in danger of crossing the line into hysteria here.

Like you, I will keep my Al Rayan accounts.

As to why they searched you: I would say a search is completely harmless. All banks can search CIFAS - it's the only way for them to find out whether you have a marker for fraud committed by yourself, as these don't show on the credit reference files. Did you apply for an Al Rayan account on March 13?

I have only ever applied for one Al Rayan account in my entire life and that was their everyday saver that I opened in August 2022. I deposited £5k in it and then built the deposit up to around £13.5k in October, at which point I emptied it because Santander brought out their 2.75% saver. I then emptied Santander into it later that month once the rate hit 2.81% (around £20k) before withdrawing most of it a few weeks later when Virgin brought out the 3% EA cash ISA. The remaining funds barring 1p were emptied out later in November and barring withdrawing £24.66 profit on 1/12 I haven't used the account since.

As a result I am slightly baffled as to why Al Rayan chose to do a cifa search on me last week as it just seems quite random.

Bridlington1

For the sake of clarity here is the first page of the DSAR from Cifas, the rest just went on about what a Cifa is and how I can complain about my record etc.

Speculator

Bridlington1 said:

Band7 said:

Bridlington1 said:

Speculator said:

If anyone has an Al Rayan account, it might be a good idea to close it asap, especially if you have accounts with Lloyds/BOS/Halifax.

I suspect we may be in danger of crossing the line into hysteria here.

Like you, I will keep my Al Rayan accounts.

As to why they searched you: I would say a search is completely harmless. All banks can search CIFAS - it's the only way for them to find out whether you have a marker for fraud committed by yourself, as these don't show on the credit reference files. Did you apply for an Al Rayan account on March 13?

I have only ever applied for one Al Rayan account in my entire life and that was their everyday saver that I opened in August 2022. I deposited £5k in it and then built the deposit up to around £13.5k in October, at which point I emptied it because Santander brought out their 2.75% saver. I then emptied Santander into it later that month once the rate hit 2.81% (around £20k) before withdrawing most of it a few weeks later when Virgin brought out the 3% EA cash ISA. The remaining funds barring 1p were emptied out later in November and barring withdrawing £24.66 profit on 1/12 I haven't used the account since.

As a result I am slightly baffled as to why Al Rayan chose to do a cifa search on me last week as it just seems quite random.

Just normal transactions I do every month. Wouldn't trust any Bank or Building society who decide to do a cifas search based on those transactions.

pecunianonolet

Similar to @Bridlington1 I have also inquiered to CIFAS. I also have an account with Al Ryan, similar pattern as mentioned before re transactions. Let's see if I have a search by them too, when the documents arrive. Since saving accounts are not reported to CRA's there is no need to panic in my opinion.