LLOYDS BANK CLOSED ACCOUNT

Mihaela222

Hi! Out of the blue  Lloyds closed my account.
What will happen with my credit score since they deleted my account and banned me from open a new one even at Halifax.
I wanted to buy a car in leasing. Now i don't know what will happen because i don't know how to prove my credit score. Can someone tell please if all my credit score is gone or i still can make a credit loan? Thank you

grumbler

Your credit score is a myth. Your credit history remains and cannot disappear suddenly. You can check your credit files/report for free

Check your credit score & report for free - MSE

Why did they close your account and banned your? If it was for some wrongdoing, this can be reported to fraud prevention agencies and, indeed, affect your ability to open any account with any bank, not just LBG.

elsien

Why did they close it?
Breach of the terms and conditions, such as running a business from a personal account?
 Otherwise it may be because they suspect some sort of fraud. So you need to see if you’ve got a Cifas marker because that will have far more impact on your ability to get credit than any number.

ForumUser7

grumbler said:

You credit score is a myth. Your credit history remains and cannot disappear suddenly. You can check your credit files/report for free

Check your credit score & report for free - MSE

Why did they close your account and banned your? If it was for some wrongdoing, this can be reported to fraud prevention agencies and, indeed, affect your ability to open any account with any bank, not just LBG.

Do Lloyds/BoS/Halifax/RBS/NatWest not allow you to see the credit record in the app please? I thought they allowed viewing of the credit record, but it looks like it may just be the 'credit score'.

eskbanker

Mihaela222 said:

Hi! Out of the blue  Lloyds closed my account.
What will happen with my credit score since they deleted my account and banned me from open a new one even at Halifax.
I wanted to buy a car in leasing. Now i don't know what will happen because i don't know how to prove my credit score. Can someone tell please if all my credit score is gone or i still can make a credit loan? Thank you

The first thing to do is to differentiate between the types of closure - if it was closed by giving you 60 days notice then this is relatively good news and is likely to be at the lesser end of the scale, but if they did it with no notice at all then that'll be more serious and more likely to impact your options elsewhere....

dealyboy

Sorry to hear that Mihaela ... it must have been a shock.

The guys here will give you all the support you need ... the more you can tell us the better the support.

Mihaela222

eskbanker said:

Mihaela222 said:

Hi! Out of the blue  Lloyds closed my account.
What will happen with my credit score since they deleted my account and banned me from open a new one even at Halifax.
I wanted to buy a car in leasing. Now i don't know what will happen because i don't know how to prove my credit score. Can someone tell please if all my credit score is gone or i still can make a credit loan? Thank you

The first thing to do is to differentiate between the types of closure - if it was closed by giving you 60 days notice then this is relatively good news and is likely to be at the lesser end of the scale, but if they did it with no notice at all then that'll be more serious and more likely to impact your options elsewhere....

Well, they told me that they sent me a letter on 27 January on my address, but i didn't received it. So i'm gonna make an complain to know the reason. 

Mihaela222

elsien said:

Why did they close it?
Breach of the terms and conditions, such as running a business from a personal account?
 Otherwise it may be because they suspect some sort of fraud. So you need to see if you’ve got a Cifas marker because that will have far more impact on your ability to get credit than any number.

They didn't tell me yet. They told me that they will send a letter home.
I had debit account. I was paying council tax, tax,road, cars insurance, get my salary and student finance. Sometimes i send money to revolut but at least 300 pounds for savings

Mihaela222

grumbler said:

Your credit score is a myth. Your credit history remains and cannot disappear suddenly. You can check your credit files/report for free

Why did they close your account and banned your? If it was for some wrongdoing, this can be reported to fraud prevention agencies and, indeed, affect your ability to open any account with any bank, not just LBG.

I don't know. I didn't do anything wrong. Just making payments and get my student maintenance loan and salary

Middle_of_the_Road

Mihaela222 said:

grumbler said:

Your credit score is a myth. Your credit history remains and cannot disappear suddenly. You can check your credit files/report for free

Why did they close your account and banned your? If it was for some wrongdoing, this can be reported to fraud prevention agencies and, indeed, affect your ability to open any account with any bank, not just LBG.

I don't know. I didn't do anything wrong. Just making payments and get my student maintenance loan and salary

I've heard Lloyds are doing this recently, and they never explain the reason. It can be very inconvenient until you get a new account elsewhere.

You might be able to get them to give you access to your salary in the meantime. 
Open another account and set up your direct debits ready for the next payments.

Do you have a credit card you can use until things are sorted?

Bridlington1

I'm sorry to hear all this. If it's any consolation LBG have decided to get rid of me too. See:
https://forums.moneysavingexpert.com/discussion/6433933/lbg-closing-all-my-accounts-on-18th-may/p1

What was your typical account activity prior to 27th January? You will probably never find out the exact reasons why they decided to close your accounts though.

By the sounds of things given that they have sent you a letter in late January they will likely have closed your account on commercial grounds so you will likely be barred from all LBG banks for life. To be on the safe side I would do a DSAR on CIFAS to rule out the possibility that there are any adverse markers that have spooked Lloyds.

As already mentioned your priority now should be to open a new current account elsewhere (though not Lloyds, Halifax or Bank of Scotland) ASAP if you haven't already and arrange for any payments to be paid into it. I would recommend Metro or Virgin Money for this as I seem to recall I had online banking access plus my account details within 10-15 minutes of applying for my first account with these.

You should also contact Lloyds to get hold of any money that was in the account at the time of closure. They could have already sent all the funds to you by cheque at the time of closure but you may need to visit a branch with ID to get that one sorted out.