What can I expect now? CIFAS marker....will all my accounts be shut down, even savings?

GreenClementine

As I posted previously, a tenant referencing company named Homelet have put a CIFAS market on my name and address after I applied to move to a new flat.  During the referencing process asked repeatedly to go into my bank account using Open Banking.  I declined as I didn’t feel comfortable with it and they asked for three months most recent bank statements instead which I sent over to them.  They then claimed they couldn’t  “verify” my bank statements and I failed referencing.  Fortunately I received my Holding Deposit back from the letting agent.  I have now discovered that Homelet put a CIFAS marker on me, accusing me of submitting  altered bank statements even though the bank statements were real.  I notice that there is another person here on these forums who has experiences the exact same thing.

I have bank accounts with two different banks.  One of them wrote to me last week, one month after the failed tenancy referencing, to advise they are closing my account in 60 days.

I had also applied to open an additional savings account with Tesco Bank (I already have one savings account with them).  It got referred for “additional checks” and they’ve just emailed me now to say they can’t open the account as I don’t meet their criteria.  They then listed CIFAS, Experian and National Hunter as companies they contacted when evaluating my savings account application.

Can I expect all my bank accounts to be closed down?

And all my savings accounts?

What about my mobile phone account?

Who could I then bank with?

To make matters worse I am in a very vulnerable state and under the care of the Mental Health Team and Social Services.  I have a history of serious suicide attempts.  I have been stabilised lately and receiving intensive therapy and medication.  But I’m back to wanting to end things now as this is a massive hurdle.

I am also in a precarious living situation.  The flat I’ve resided in for several years (private rent) will no longer be available to me from 2024.  To obtain a new home I would need to pass tenant referencing.  I’ve researched this today and most of them do fraud checks, so this CIFAS thing would come up.

I don’t know what to do.

marcia_

 Would have been better to continue this in your other thread 

eskbanker

GreenClementine said:

I have now discovered that Homelet put a CIFAS marker on me, accusing me of submitting  altered bank statements even though the bank statements were real

[...]

I don’t know what to do.

Better to focus on prevention rather than cure IMHO, i.e. the priority should be getting the CIFAS marker removed if it was placed in error, so complain vigorously and urgently to Homelet.

Probably worth ascertaining what's held against you by Experian and National Hunter too, and ensuring that any negative markers are reversed there too, if applicable.

TojoRalph

The very first thing to do is contact Homelet ASAP and submit a clear and concise written complaint in an effort to get the CIFAS marker removed.

I assume you have a copy of your CIFAS report, what is the marker actually for, what does the CIFAS report state?

Whether other banks will close your account or not, that depends if the banks are linked to the one/s that have closed your account. Banks may also pick up on the CIFAS marker during periodic account reviews.

Whether savings accounts will be closed or not I do not know, but a relative who had an erroneous CIFAS marker placed on them by Starling Bank (removed 10 days later), had two bank accounts closed at banks they also have sizeable fixed rate savings accounts. Neither banks closed the savings accounts. That may of course close them at the end of the fixed term.

grumbler

https://www.cifas.org.uk/contact-us/i-want-to-make-a-complaint

Step 2

If you are not satisfied with the organisation's response, ask them for a Final Response (if you haven’t received one), which confirms that they have investigated and that they are rejecting your complaint. A Final Response can be in the format of a letter or email. 
 

Step 3

Share the final response with us and we will conduct an independent review on your behalf.