Outrageous Santander closing account without notice or explanation

brassbound

I should like to bring to your notice what I think is a egregious example of mistreatment by a bank.

I have banked with Santander (in its various iterations and takeovers) firstly as GiroBank, then Midland, then Alliance Leicester, and finally as Santander, since about 1955.

During those nearly seventy years I would claim to have caused the bank no trouble, with accounts always in credit and my credit cards always paid off in full each month. I also used Santander for my business banking until about 2018.  At present there are credit balances, arising from sales of my business and property during recent years.

On 3rd May my wife and I received without warning four identical letters, one for each account. (Not unusually for this bank, they were dated no less than ten days earlier, 24th April!)

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"We regularly review our customers' accounts and need to let you know that unfortunately we can' offer you banking facilities anymore (sic).

....[then followed Notice of closing on 26th June]..... "Unfortunately we are not able to give you further information about how we made our decision"

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ForumUser7

brassbound said:

I should like to bring to your notice what I think is a egregious example of mistreatment by a bank.

I have banked with Santander (in its various iterations and takeovers) firstly as GiroBank, then Midland, then Alliance Leicester, and finally as Santander, since about 1955.

During those nearly seventy years I would claim to have caused the bank no trouble, with accounts always in credit and my credit cards always paid off in full each month. I also used Santander for my business banking until about 2018.  At present there are credit balances, arising from sales of my business and property during recent years.

On 3rd May my wife and I received without warning four identical letters, one for each account. (Not unusually for this bank, they were dated no less than ten days earlier, 24th April!)

---

"We regularly review our customers' accounts and need to let you know that unfortunately we can' offer you banking facilities anymore (sic).

....[then followed Notice of closing on 26th June]..... "Unfortunately we are not able to give you further information about how we made our decision"

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REDACTED NAME AND POSTCODE

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Robin9

I have asked MSE to delete the personal info -  as a new poster OP can't edit yet

TadleyBaggie

Misleading title, they have given you notice. 

Bottom line, find yourself a new bank.

eskbanker

It'll be in the Ts & Cs that they can terminate the relationship (just as you can) but they're not obliged to give an explanation, regardless of how many years you've banked with them, so you'll need to look for potential reasons yourself, e.g. unusual or suspicious transactions and so on....

brassbound said:

I also used Santander for my business banking until about 2018.  At present there are credit balances, arising from sales of my business and property during recent years.

For example, were these business-related transactions all processed via business accounts?

MattMattMattUK

brassbound said:

I should like to bring to your notice what I think is a egregious example of mistreatment by a bank.

I have banked with Santander (in its various iterations and takeovers) firstly as GiroBank, then Midland, then Alliance Leicester, and finally as Santander, since about 1955.

During those nearly seventy years I would claim to have caused the bank no trouble, with accounts always in credit and my credit cards always paid off in full each month. I also used Santander for my business banking until about 2018.  At present there are credit balances, arising from sales of my business and property during recent years.

On 3rd May my wife and I received without warning four identical letters, one for each account. (Not unusually for this bank, they were dated no less than ten days earlier, 24th April!)

---

"We regularly review our customers' accounts and need to let you know that unfortunately we can' offer you banking facilities anymore (sic).

....[then followed Notice of closing on 26th June]..... "Unfortunately we are not able to give you further information about how we made our decision"

I cannot see why it is mistreatment, they have a right to do business with who they wish. Your title is also incorrect, they have not given you notice, they have given you two months notice.

Something has happened that they do not like, it may well be that you have a CIFAS marker. It would be wise to check your reports with all the CRAs and also CIFAS and National Hunter. 

Robin9

Hopefully op already has a back up account or two.   He has till end of June to move all the DD's and SO's.

MikeJXE

Not another one

Have been a few of these closures lately and that why I decided to set up a secondary account 

My Santander of 10 years is my do everything account, my saving accounts are liked to Santander 

My plan tomorrow is to pull in some savings and transfer to my secondary account then transfer to a savings account so everything isn't linked to one account 

Fingers crossed 

daveyjp

Personal account used for business transactions?

Middle_of_the_Road

Seems everyone thinks this kind of treatment is ok. A sad reflection of the times we now live in.
We're just expected to not take it personally, and accept this is the way banks can behave, dismissing years of patronage, with a pathetic standard letter, and that's the end of it.

Unfortunately, this is how things are, and this can happen to anyone, anytime. If it were to happen to you, I wonder if you'll be so understanding and not feel the slightest aggravation. 

km1500

It is absolutely wrong that a bank can summarily close an account without any explanation whatsoever.

It may be in their T&C but that doesn't make it right.