Joint account - forcing closure by one signatory

irnbru_2

Hi, hope someone can advise esp. a banking employee .....

I have a joint account opened when I was a student with my flatmate for paying our rent. Flatmate and I have since lost contact several years ago.

Having opened and closed various accounts with my bank, at different branches, I've enquired about getting this joint account closed. Each time I got different advice - can't be done without 2 signatures; if it was dormant for 6 months it would be done automatically ....

I finally managed to convince my local branch to send off the forms to the last known address of my flatmate[1]. They advised that if this failed, I would need to close all my accounts and then after 2 years the joint account would be closed :mad:

So what can I do to close this account by myself?

Oh, I bank with Barclays ......

[1] Payment in error by flatmate's current employer confirmed they were still a customer.

Al_Mac

If you know the persons full name and date of birth I'm sure Barclays could track them down.

Could you ask to be removed as party to the account?

:beer:

jen_jen_2

a joint bank account means you are jointly and severally liable, (i am sure you know this) therefore does it not make sense that one of you can close the account, one of you could take a huge overdraft and leave the other liable so why cant they either close it or remove you off it. it is madness.

ask them in writing if you can be removed and that you are not longer going to be held liable for the account because you have told them to close it.

alternatively arrange to bump into your friend and get them to sign the letter :rolleyes: (like banks ever check the signitures)

jonesMUFCforever

First of all what are/were the signing rules on the account? If you could sign alone on the account you could cash whatever monies are in the account (not forgetting to cancel all direct debits and standing orders) and tell the bank there is a dispute and that the account should be blocked (ie frozen).
If the account requires both to sign then again tell the bank there is a dispute and that they should block the account but any balance on the account would have to stay on the account until such time as you both decide what to do with it, or you could prove the other person's demise(death certificate!)
Are we talking about a lot of money here? or is it just a nuisance you want to clear up?
Eric

AndyR_3

irnbru wrote:

... They advised that if this failed, I would need to close all my accounts and then after 2 years the joint account would be closed :mad:

That's nonsence.

Both parties do have to sign to authorise closure - that is correct. Both parties also have to sign to authorise removal of a name from the account, too. Therefore my advice is to withdraw any balance and advise the bank, in writing, that there is a mandade dispute. This will prevent any further activity, but unless your flatmate authorises it, the account could remain open for ever...

irnbru_2

ejones999 wrote:

Are we talking about a lot of money here? or is it just a nuisance you want to clear up?

Its the nuisance factor.

A sum of about 24 pence accrued on the account, from the payments made in error, and was transfered to me when I last spoke to them so the balance is back to 0.00!

My thanks to all who've replied.

I shall take up the cudgels and pursue them in writing this time through the account holding branch (400 miles away) ..... onwards to the obudsman if that fails.

jonesMUFCforever

irnbru wrote:

Its the nuisance factor.

A sum of about 24 pence accrued on the account, from the payments made in error, and was transfered to me when I last spoke to them so the balance is back to 0.00!

My thanks to all who've replied.

I shall take up the cudgels and pursue them in writing this time through the account holding branch (400 miles away) ..... onwards to the obudsman if that fails.

I'm sorry but the ombudsman will laugh his socks off if you ever get that far( very unlikely)just tell the bank that the account is no longer required that you can't find the other person signing on it and that it should be blocked and then just FORGET about it.
Eric

AndyR_3

irnbru wrote:

onwards to the obudsman if that fails.

Don't be silly.

The customer agreement you signed says the account needs both parties to authorise closure. The fact that you have lost touch with the other party is not the bank's fault.

What do you think the ombudsman will do?

Oracus

I'd pop into a local branch, advise them you have lost contact with the other party, and that the account should be inhibited. With a zero balance the account will fall dormant and will be closed off around 2 years later witout advice to yourself or the other party. The inhibit will notbe removed unless both parties give authorisation, so once that is done, I'd just forget about it.

HTH

Os`

(a bank employee - though not Barclays)

AndyR_3

The only problem with that, Oracus, is that it may not be closed as dormant if it's connected to a "live" account.

irnbru_2

AndyR wrote:

The only problem with that, Oracus, is that it may not be closed as dormant if it's connected to a "live" account.

Which is why I was told I need to close all my accounts for it to take affect :mad: