LBG closing all my accounts on 18th May

SupaSava2000

I know someone who had their LGB accounts closed but it didn’t affect their Intelligent Finance accounts. (Which I realise is a bit different as LGB can’t make enhancements to the IF service.)

Band7

I don't want to pour cold water onto this hot thread but account closure notices from Lloyds and Halifax appear to have happened for years if reports on this forum are anything to go by, without anyone having been able to suggest anything tangible on how to avoid those closures.

RG2015

Band7 said:

I don't want to pour cold water onto this hot thread but account closure notices from Lloyds and Halifax appear to have happened for years if reports on this forum are anything to go by, without anyone having been able to suggest anything tangible on how to avoid those closures.

Controversial I know but how about not bending the rules to get a bit more out of the banks' benefits or incentives?

eskbanker

SupaSava2000 said:

I know someone who had their LGB accounts closed....

Isn't that unlawful discrimination?

Money_Grabber13579

I appreciate that there will be no answer to this question at present but how likely is it that these bans for life are actually bans for life? They can only automatically shut future accounts if they remember that they had banned the OP at some time in the past and as time goes on, documentation gets destroyed or forgotten about (i.e. many companies don’t retain historical documents longer than 6-8 years) so perhaps there might come a time when that record drops off the system and the OP will be able to open new accounts with LBG?

ForumUser7

Money_Grabber13579 said:

I appreciate that there will be no answer to this question at present but how likely is it that these bans for life are actually bans for life? They can only automatically shut future accounts if they remember that they had banned the OP at some time in the past and as time goes on, documentation gets destroyed or forgotten about (i.e. many companies don’t retain historical documents longer than 6-8 years) so perhaps there might come a time when that record drops off the system and the OP will be able to open new accounts with LBG?

It seems probable that they have automated checks than run on openings.

There could well be a database, that contains banned customer information (DOB, name, address etc.)

When a sufficient match is found, it could then prompt a manual review, to confirm that the customer is banned - and then LBG could close the accounts.

Although based on things like the RS loophole, their IT may be so weak that this is too advanced for them.

alibean121

Money_Grabber13579 said:

I appreciate that there will be no answer to this question at present but how likely is it that these bans for life are actually bans for life? They can only automatically shut future accounts if they remember that they had banned the OP at some time in the past and as time goes on, documentation gets destroyed or forgotten about (i.e. many companies don’t retain historical documents longer than 6-8 years) so perhaps there might come a time when that record drops off the system and the OP will be able to open new accounts with LBG?

They have a long memory. When I was applying for my mortgage with Halifax, the advisor mentioned in passing an old current account I used to have with them and asked if I wanted to open another one - I had that account when I was 18 and closed it about 15 years prior to the mortgage appointment. 

wmb194

Money_Grabber13579 said:

I appreciate that there will be no answer to this question at present but how likely is it that these bans for life are actually bans for life? They can only automatically shut future accounts if they remember that they had banned the OP at some time in the past and as time goes on, documentation gets destroyed or forgotten about (i.e. many companies don’t retain historical documents longer than 6-8 years) so perhaps there might come a time when that record drops off the system and the OP will be able to open new accounts with LBG?

From other threads we know that First Direct has an exceptionally long memory so there's no reason to think that Lloyds' memory cannot be similarly long. Financial institutions are allowed to keep data they deem relevant for as long as they like.

granta

Does anyone know of LBG account closures affecting the closure of iweb/Lloyds Share-dealing accounts or would these be considered separate enough?

wmb194

granta said:

Does anyone know of LBG account closures affecting the closure of iweb/Lloyds Share-dealing accounts or would these be considered separate enough?

IIRC there was a thread where this happened to someone and they said they also had their iWeb account closed.