My bank has just terminated my current account...
Discussion
...just had a letter from my bank saying that they are withdrawing all banking facilities, effective in seven days This happened a few days after my applying for a personal loan - so the two must be connected.
I've banked with them for 20 years and the only explanation they can give is that certain 'adverse information came to light'. I have NO idea what's going on and an shocked at how rapidly this has gone down. Didn't even get a warning, phone call from the bank or anything!
What are my options? Any advice? I need a bank a/c ASAP for salary/bills etc. Could use my wife's for now I suppose.
HELP!!
I've banked with them for 20 years and the only explanation they can give is that certain 'adverse information came to light'. I have NO idea what's going on and an shocked at how rapidly this has gone down. Didn't even get a warning, phone call from the bank or anything!
What are my options? Any advice? I need a bank a/c ASAP for salary/bills etc. Could use my wife's for now I suppose.
HELP!!
16610LV said:
My Bank have said that I have no grounds for an appeal and they will not enter into any discussions on the matter.
This sounds VERY suspicious - after 20 years custom as well - that Credit Check is Vital! Do you constantly have an overdraft and haven't cleared it down to £0 for a lot of years? Is your O/D rising and the bank, seeing your salary coming in, know that you are unlikely to ever be able to clear it?
Again, its all VERY puzzling!
garyhun said:
As has been said call them, get the data and get your credit file from Equifax and Experian
...they won't give me any more information, but you are all correct in that I need to get the info from the credit ref agencies ASAP.
Could well be ID theft - a few weeks ago I had hassles with a debt collection company chasing me for a credit card debt that I knew nothing about!
Found this which may help
"The Banking Code and the Business Banking Code both say that, in normal circumstances, firms should give customers at least 30 calendar days’ notice before closing their accounts. Examples of circumstances which are not ‘normal’ include suspected fraud, or cases where the customer was threatening or abusive to the firm’s staff."
at www.financial-ombudsman.org.uk/publications/ombudsman-news/48/banking-closing-accounts.htm
"The Banking Code and the Business Banking Code both say that, in normal circumstances, firms should give customers at least 30 calendar days’ notice before closing their accounts. Examples of circumstances which are not ‘normal’ include suspected fraud, or cases where the customer was threatening or abusive to the firm’s staff."
at www.financial-ombudsman.org.uk/publications/ombudsman-news/48/banking-closing-accounts.htm
Speaking on behalf of a bank (sorry!)....
I can't understand why they would close your account. Declining somebody for a loan is one thing, but actually closing somebody's account is quite another. There must be something pretty shocking on the credit search (which, incidentally, Banks are not allowed to divulge information about - as mentioned by others, you will need to apply for your file directly with Experian/Equifax).
If you have banked with them for 20 years, their behaviour does seem a little odd. The point made earlier about identity theft could be a possibility - have you noticed any other strange happenings recently??
My advice would be to pick up the phone to your bank, although you may have more success if you were able to visit the branch in person.
Hope this helps a bit. Can't believe my first post is work related....
I can't understand why they would close your account. Declining somebody for a loan is one thing, but actually closing somebody's account is quite another. There must be something pretty shocking on the credit search (which, incidentally, Banks are not allowed to divulge information about - as mentioned by others, you will need to apply for your file directly with Experian/Equifax).
If you have banked with them for 20 years, their behaviour does seem a little odd. The point made earlier about identity theft could be a possibility - have you noticed any other strange happenings recently??
My advice would be to pick up the phone to your bank, although you may have more success if you were able to visit the branch in person.
Hope this helps a bit. Can't believe my first post is work related....
I bet you are in Mobile phones or Chip trading. The banks have a briefing document from the exchequer trying stop money laundering and VAT fraud in the mobile / technology industry. HSBC are the most jumpy. They will terminate if you even think about trading a mobile.
Edited by phatgixer on Tuesday 9th January 18:08
phatgixer said:
I bet you are in Mobile phones or Chip trading. The banks have a briefing document from the exchequer trying stop money laundering and VAT fraud in the mobile / technology industry. HSBC are the most jumpy. They will terminate if you even think about trading a mobile.
Edited by phatgixer on Tuesday 9th January 18:08
...no neither, I'm afraid. Chartered Accountant. I own a mobile phone though! Maybe some jobs-worth at the branch saw me using it and misread the anti-money laundering instructions!
16610LV said:
But if there's dodgy/incorrect info on my credit file that made my Bank act in this manner, does that mean that it will be very difficult to open a new bank account?
My Bank have said that I have no grounds for an appeal and they will not enter into any discussions on the matter.
My Bank have said that I have no grounds for an appeal and they will not enter into any discussions on the matter.
The I dont care I'm not listening I dont care what you say la la la la la la wont work I'm afraid. I be causing all sorts of problems at my branch if I got a response like that.
Jason.
In this "big brother" world, with the UK being one of the most spied on countries in the World, we should all check what is recorded about us, and by whom. The Data Protection Act permits us from doing this for a small fee.
I do not want to scare you, but with about 60 seconds work, I have found a thread which is connected with political matters, written by someone with your name and city. If it is you, I would think that the fact that it is political statement, might have something to do with your Bank's eagerness to drop you.
Stranger things have happened.
Have a look here.
About half way down the article.
http://news.bbc.co.uk/1/hi/talking_po
In this "big brother" world, with the UK being one of the most spied on countries in the World, we should all check what is recorded about us, and by whom. The Data Protection Act permits us from doing this for a small fee.
I do not want to scare you, but with about 60 seconds work, I have found a thread which is connected with political matters, written by someone with your name and city. If it is you, I would think that the fact that it is political statement, might have something to do with your Bank's eagerness to drop you.
Stranger things have happened.
Have a look here.
About half way down the article.
http://news.bbc.co.uk/1/hi/talking_po
my missus got her new bank card stolen, full amount possible was withdrawn. she got this money back though
then the replacement card (that she'd asked not be sent out) was also stolen, a smaller sum was withdrawn. the bank didn't refund this money and closed the account. police were no help
that was 30 days notice though
(this is in germany)
then the replacement card (that she'd asked not be sent out) was also stolen, a smaller sum was withdrawn. the bank didn't refund this money and closed the account. police were no help
that was 30 days notice though
(this is in germany)
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