Teller could not close savings account

LittleVoice

This lunchtime (I know, bad time), I went into Abbey to close a matured 7% account which is now paying 3.5% (or 3.4% on balances below £2K). My intention was to take some cash and transfer the majority of the funds to my current account with Abbey.

Having queued for about 15 minutes to reach a teller (but I was prepared for that), I was told the teller could not close the account but that I would have to go "over there" (a desk nearer the entrance) to close the account! So I was directed to go there.

However, I didn't have the time to wait for someone at one of these desks to be free. So I took £500 cash and transferred all but £1 to my current account (from which I withdrew £300 and wrote a cheque to myself for another bank for the balance).

I wondered whether this was specific to Abbey (yet another reason not to bother with them) or whether other banks operate the same system. Are they worried that closing the account needs to be investigated for money-laundering but leaving a balance of £1 doesn't?

Lokolo

Its the same with all banks.

When I was younger my mother opened a Halifax account in my name, I didn't want it so I went to close it. They said they would have to withdraw all my money and then ask me security questions.

I took the money and they asked me when I opened the account, most stupid question ever considering I was 5 at the time my mother opened it (now 19!) so of course I had not a clue, I just said I didn't know and got told I couldn't close the account.

Its still alive with 1p in, I cut the cards etc. and it hasn't been used it approximately 3 years now. I still get statements every now and again.

Moral of the story - banks are stupid

ManAtHome

Many internet accounts can only be closed if you write to them - I have a few with a quid or two in. Interestingly, a couple of places closed and sent me a cheque as there was a minimum funding limit of more than I left in... go figure as they say.

dunstonh

A lot of banks operate the cashiers as cashiers only and have an enquiries desk to handle things like closing accounts.

LittleVoice

I understand the identity checking that goes on needs a separate desk for account opening and I see notices about arranging to see someone to open an account. I've never seen a notice at the entrance that says, in effect, "this is where you close a savings account". The cashier/teller checks my ID when I make a withdrawal, what's so different about adding the interest and closing the account?

Unless things changed in January, at least Skipton and Britannia Building Societies allow their cashiers to close accounts. Maybe its banks v building societies.

dunstonh

The traditional banks have had the cashiers doing cashier only work for as long as I member. Smaller and rural quiet branches maybe exceptions. Those with dedicated and manned enquiry desks do the work to keep the cashier queues down.

Building societies have never been ones for reducing their queues.

bristolleedsfan

LittleVoice wrote: »

I
Unless things changed in January, at least Skipton and Britannia Building Societies allow their cashiers to close accounts. Maybe its banks v building societies.

could be that a lot of banks are busier than a lot of building societies, at busy periods they want to keep the queues flowing with easy, quick transactions via the cashiers and direct more time consuming transactions away from the cashiers.

tgon

We had a terrible time with Abbey, first trying to open the savings account we wanted (they tried maximum pressure to sell us something else instead) and then trying to close the account ("the-computer-went-screwy-we'll-send-a-cheque-in-the-post" but then promptly forgot). And yes, take a packed lunch for the teller queue wait.

chesky369

Closing an account is a bit more time-consuming and complicated than simply either paying in cash/cheques or taking money out from an account. It would never occur to me to expect the normal cashiers to do it - they're trying to get through the queue of people. Also, if you go immediately to the enquiry desk, it's usually a bit quicker, since there are generally fewer people there.

Old_Slaphead

I managed to get a FR monthly saver account closed last week by Abbey cashier at lunchtime. As I was withdrawing all funds - I had to wait 15 minutes (they blamed their computer security system) before the interest accrued to date could be 'cleared' and added to cheque. Didn't bother me too much but hacked off the queue me behind seeing cashier having to twiddle her thumbs for last 5 or 6 mins!!

RayWolfe

Last year - July, August time - I closed expired term accounts at my small local branch at the teller counter. Could be that they prefer to "chat" to you in order to sell you something or could just be another example of Abbey falling apart.
... try not to deal with them, that's what I say ... ;-)