Returning to LBG

BankSurfer

Back in 2020 LBG carried out the 'forced closure' of my Bank of Scotland, Bank of Scotland t/a Halifax, and Lloyds Bank accounts. I had three text messages, one from each brand, stating "...after a review on your account(s) a decision to close the account(s) in 2 months has been made. Your account facilities have been withdrawn. You will also receive a letter to explain further." I could no longer log in to internet banking, use my cards, or access my money. I'd read about these types of closures before (on this forum) and knew that it was a fait accompli.

I suspect that the closure happened because of my frequent opening of additional current accounts and switching them out. I'd also opened a number of 'easy saver' (I think) accounts a few days before the closure messages. I'd also opened a business account too shortly before this.

I received three letters, again one from each brand, notifying me of the closures. The letters, identically worded, said that "...a recent risk assessment on your accounts has highlighted concerns and as a result we have taken the decision to close all the accounts you currently hold with us in two months time." It also said that a block had been put on all transactions. The letters contained advice on how to access my money but as I had only around £20 in each and was very irritated by the whole thing, I never bothered to follow it up and claim my funds.

I'm aware of the many threads here about such closures and the typical advice that follows in respect of subject access requests to the banks and to CIFAS. I did those at the time and there were no CIFAS markers registered. The data on the banks' systems unsurprisingly yielded little of interest.

Around a year after the closures I managed to open a savings account with Lloyds but I have never been able to access it because my internet banking is locked and attempting to register for internet banking fails with a prompt that they "need to speak to you before we can continue" (or something along those lines). 

Last year I applied for a Halifax credit card and was initially accepted and the card was sent out. However, a few days later I received a text message to say that "...we needed to complete some further checks. Based on some information you gave, or we've had from credit reference agencies...we've had to close the account....". 

Anyway, the purpose of my post is to ask if anyone here has had success in returning to LBG following the forced closure of their accounts? I'm planning to close my savings account and am resigned to the fact that I can't bank with LBG yet interested to know if others have managed to.

[sorry for the long post]

Hoenir

No great surprise that having had your facilities closed. That the Lloyds Banking Group isn't interested in doing business again. Elephants never forget as the saying goes. This is standad practice in the B2B world. 

BankSurfer

Not a surprise no. What does B2B mean in this context?

eskbanker

BankSurfer said:

Anyway, the purpose of my post is to ask if anyone here has had success in returning to LBG following the forced closure of their accounts? I'm planning to close my savings account and am resigned to the fact that I can't bank with LBG yet interested to know if others have managed to.

Happy to be proved wrong if you start getting responses from those you're hoping to find but I'd have thought it would be a vanishingly small pool of people!

There won't be particularly large numbers who are kicked out of LBG in the first place.

Of those, the number who'd try to return would be significantly smaller.

Of those, the number who'd succeed will be even smaller still!

retiredbanker1

It is normal for banks to keep information on file for at least 6 years - so your accounts were closed in 2020 do not apply until at least 2026. You did so and their back office systems kicked in and found you out.

Now I would leave it until at least 6 years until after the closure of the Halifax card.

x44

BankSurfer said:

Not a surprise no. What does B2B mean in this context?

B2B stands for business to business where there are no consumer protections in place.

In my days of corporate life we used to "sack" our customers with great regularity for any who played silly games with us.  Amusingly we often found that many other suppliers had done the same resulting in the customer being unable to get a quote from anyone!  

(We worked in the sector of very high value low volume bespoke design/manufacturing) 

Theleak250

I understood (based on posts here from others) that LBG never forgets. You are banned for life I believe.

boingy

The question is, why would you want to return?
There are plenty of other options.

Olenna

retiredbanker1 said:

It is normal for banks to keep information on file for at least 6 years - so your accounts were closed in 2020 do not apply until at least 2026. You did so and their back office systems kicked in and found you out.

Now I would leave it until at least 6 years until after the closure of the Halifax card.

They can retain internal information on people that they don't wish to 're-engage with' as long as have a legitimate reason to do so. Six years is the general civil limitation period in England/ Wales but this a business rather than legal decision anyway so wouldn't directly translate to that timeframe.   

Olenna

boingy said:

The question is, why would you want to return?
There are plenty of other options.

They said they don't want the OP as a customer; unfortunately not all relationships work out .
Generally best to move on for all parties IME.

Hoenir

Olenna said:

retiredbanker1 said:

It is normal for banks to keep information on file for at least 6 years - so your accounts were closed in 2020 do not apply until at least 2026. You did so and their back office systems kicked in and found you out.

Now I would leave it until at least 6 years until after the closure of the Halifax card.

They can retain internal information on people that they don't wish to 're-engage with' as long as have a legitimate reason to do so. Six years is the general civil limitation period in England/ Wales but this a business rather than legal decision anyway so wouldn't directly translate to that timeframe.   

There's no 6 year restriction. Data can be retained for as long it serves the purpose for which it is being held. Will be the bare minimum. What in the olden days was called a "Black List".