Fruit Machine Chat

I met with rather a bizarre surprise last week. A letter from my bank. It read 'Mr JG, we are terminating our banking relationship with you. We will be closing your accounts in 60 days.'

They are closing a current account and savings account.

Has anyone else ever had this happen? They don't give a reason but I suspect it's due to paying too much money in.

Yes I had this. From Lloyds. I complained, took it to ombudsman. No luck. They're private businesses and can serve who they like. I think being able to hold a basic bank account should be a fundamental human right. Especially as the government will now only pay benefits into one. However, the cowboys that run these institutions make their own rules.

Very true. It seems totally inconsistent that on one hand the FSA can regulate relative minutiae such as them having to reveal what fees their financial advisors receive for selling products BUT they can close your account on the merest unsubstantiated suspicion of it being used for criminal purposes.

Apparently they cannot tell me if this is the case as it would be akin to 'tipping me off' IF indeed the account was funded as a result of criminal activity. I appreciate they have the right to close the account, but I'd prefer they were closing it for me wearing black trousers as a pose to some sort of concession to becoming interim wishy washy money police.

Of course I'm assuming a bit here. May be some other reason. It's probably suspected fraud/money laundering though I'd say. In doubt it has spread to CIFAS, serious crime depts etc as I'd have heard about it from elsewhere by now. Just a flag from that banking group. Inconvenient and ridiculous like all the pertinent questions the cashiers are made to ask regarding if I have their horrendously pointless life assurance policies in place. They're all the same though. Reading through other people's experiences in the same boat, time to pick another bank and move on and not use it to deposit money. One c#nt is as good as another I guess.

Silly me, banks should be used to upgrade to pointless accounts, get oneself into debt and waste one's life going in for 'financial reviews' every spare moment of one's life.

Time to get method guessing on Hot Property once again.

financial regulation is about to get much , much stricter. the fsa is to be disbanded in 2013 and much of the control is being given to the bank of england and a new regulator called the fca in a bid to clean things up in the industry.... after all, it's one big mis-selling scam after another and the banks have been panicking lately(rbs actually pulled every single one of their mortgage sellers into retraining a few weeks ago and destroyed all their marketing material to do with mortgage selling).the recent hsbc fine for laundering and the fact that controls are gonna be tighter for the banks soon may have something to do with why they've pulled your plug JG.

forget lloyds now anyway the are the biggest sheisters on the high street, not even the biggest bank in the u.k yet they so far have accounted for more ppi mis-sells than the rest of the banks put together.

take your business somewhere ethical like the co-op and be upfront with them about what you do . maybe arm yourself with that article about that guy who made a fortune on TCOM to give yourself some plausibility.

conduct of your account, usually fraud suspected, especially if it's a relatively new account. be prepared to have the sniffers sniffing about.

You're right, the Lloyds current account is garbage, i used to get a few pence interest with them each month even when i had a few grand banked up, i'm with Halifax now, they give you £5 every month providing you bank a grand, its better than nothing, there are probably better offers out there somewhere?

Scott wrote:You're right, the Lloyds current account is garbage, i used to get a few pence interest with them each month even when i had a few grand banked up, i'm with Halifax now, they give you £5 every month providing you bank a grand, its better than nothing, there are probably better offers out there somewhere?

just in case you didn't know scott, halifax is part of lloyds

Oh, ok, shows how much i know lol.

If you think having your account closed is bad, wait till you try and move your money.

Which is why I went to the tax office years ago and told them exactly what I do.
I was told to let them know when my circumstances change and I will when they do.
Nationwide are ok as well in that respect.

Premium bonds may not be much in the way of investments but they keep you on the tax radar.

mr lugsy wrote:just in case you didn't know scott, halifax is part of lloyds

Halifax don't do buisness accounts, is that's were Lloyds step in?

The best thing to do is stuff all your money into a Peak Freans biscuit tin and hide it under your mattress.

titchno1 wrote:Halifax don't do buisness accounts, is that's were Lloyds step in?

don't know about that, they're just under the same umbrella as are cheltenham and gloucester.

Buy gold & silver

JG wrote: They don't give a reason but I suspect it's due to paying too much money in.

Why how much have you been paying in?