Lloyds, Halifax and MBNA account closure
Comments
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Thrugelmir wrote: »With what aim? i.e. to save monthly account fees by meeting minimum paying in requirements or receive account incentives.
If you have the relevant account already set up as an existing payee, it's tempting to just send the money in a chain rather than set it up as a new payment on the account you want to send it to directly (and risk the payment being blocked etc.). I've learnt not to send money through more accounts than necessary.0 -
So tell the customer that they do not wish to see the accounts operated in such a manner. That way they are not risking throwing away 500 pounds.Thrugelmir wrote: »I'm sure the customers themselves are fully aware of what they are doing. Why should a bank waste valuable resource on such an activity. If you were a shareholder of said bank (i.e. through your pension). You'd expect the bank to operate in an efficient manner.
As a shareholder I find the way that some banks appear to deal with customers is ridiculous. It is not illegal to ask a customer to explain how they are using an account.0 -
brianposter wrote: »So tell the customer that they do not wish to see the accounts operated in such a manner. That way they are not risking throwing away 500 pounds.
As a shareholder I find the way that some banks appear to deal with customers is ridiculous. It is not illegal to ask a customer to explain how they are using an account.
Neither is it illegal to look at the way accounts are used and conclude the customer is creating work but no income from the bank's perspective, therefore please take your custom elsewhere.The questions that get the best answers are the questions that give most detail....0 -
brianposter wrote: »It is not illegal to ask a customer to explain how they are using an account.
As far as personal banking goes the question shouldn't be neccessary. Everyday basic transactions have no complexity.
There's nothing wrong in taking advantage of something. Bit much when the free lunch gets taken away and there's a wave of indignation. That's the trouble with the internet, good ideas soon get broadcasted. Better to keep to ones-self. As might last for longer.0 -
SAR for CIFAS came back and nothing on it.0
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Thrugelmir wrote: »As far as personal banking goes the question shouldn't be neccessary. Everyday basic transactions have no complexity.
There's nothing wrong in taking advantage of something. Bit much when the free lunch gets taken away and there's a wave of indignation. That's the trouble with the internet, good ideas soon get broadcasted. Better to keep to ones-self. As might last for longer.
Please can we show respect to each other on these forums. What is the indignation in wanting to know why my account was blocked. And nobody even know why this happen.0 -
What is the indignation in wanting to know why my account was blocked.
I think that being annoyed is very understandable.
As they have given you notice of closure, it seems very unlikely that there is any question of suspected fraud.
Clearly they don't like something about the way the accounts are operated - but - they have shown good practice as far as the ombudsman is concerned by giving reasonable notice.
https://www.financial-ombudsman.org.uk/publications/ombudsman-news/48/banking-closing-accounts.htm
Like most other commercial organisations, banks and building societies are under no obligation to continue doing business with someone if they do not consider it appropriate to do so. But they should not decide to close an account for an improper reason – for instance, because of unfair bias or unlawful discrimination. And it is an implied term of the contract between the firm and its customer that the firm will not normally close the customer’s account without giving reasonable notice.
You've received some compensation - look to the future and open new accounts?0 -
I think that being annoyed is very understandable.
As they have given you notice of closure, it seems very unlikely that there is any question of suspected fraud.
Clearly they don't like something about the way the accounts are operated - but - they have shown good practice as far as the ombudsman is concerned by giving reasonable notice.
https://www.financial-ombudsman.org.uk/publications/ombudsman-news/48/banking-closing-accounts.htm
Like most other commercial organisations, banks and building societies are under no obligation to continue doing business with someone if they do not consider it appropriate to do so. But they should not decide to close an account for an improper reason – for instance, because of unfair bias or unlawful discrimination. And it is an implied term of the contract between the firm and its customer that the firm will not normally close the customer’s account without giving reasonable notice.
You've received some compensation - look to the future and open new accounts?
Yes, but it's important to know what the banks are on with here. Only by the likes of the OP taking them to task about it might we get some light shed on the matter.
Personally, I would not allow banks to operate in this way. Utility companies cannot suddenly - or ever - disown you like the banks can. Like utility companies, banks provide a service that these days you can't really do without, so in my book they should be subject to the same type of regulation.0 -
I think I agree with you to a point although it is difficult
obviously in this day and age it is pretty much impossible to live your life without access to a bank account and so like utilities and fresh air everybody should be able to access a bank account
on the other hand of course banks are businesses should be free to accept or reject customers depending on whatever criteria they set
not sure what the answer is but banks closing accounts seem to be on the increase these days and it makes me slightly uneasy0
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