26 replies to this topic

[mrgspot]

I have been following a similar topic to this on another website. All i will say is be careful doing this if you have a mega overdraft. The amount of posts I have read about people claiming back ooodles of money , only to be told later on that the bank will be closing there account.

My father in law is a solicitor and has heard so many stories of people loosing there bank accounts, effectively paying back there OD on what they earned.

[CountDuckula1973]

It is illegal for banks to close your account. Even if you have claimed back your Charges. If this happens you then report it to the FSA or the Ombudsmen(i think thats the correct spelling)

They have to notify you 7 days in advance and give a good reason why they are closing it. Claiming back charges is not a reason for them to close your account.

Say this to them when you claim. Make a point that if they close your account you will be speaking to the above people

[mrgspot]

I disagree, as i said I have run this through a solicitor and had confirm that banks can withdraw a bank account at any point giving a 30 day notice period.

Where did your info come from

[CountDuckula1973]

yes they can close them within 30 days. But most of the accounts closed have come with the money that you receive from claiming back your charges.

IE you send letter claiming, bank send the money to you in a cheque and a letter saying your account is closed with immediate effect. This is the process that is illegal.

I havent heard of any bank giving 30 days notice to anyone as yet. My info comes from various websites and news reports on this matter.

[Mess1]

Does this apply to accounts that are now closed?

[stuart4000]

I have been following a similar topic to this on another website. All i will say is be careful doing this if you have a mega overdraft. The amount of posts I have read about people claiming back ooodles of money , only to be told later on that the bank will be closing there account.

This in essence could be construed as a good thing - it means that those who do have an overdraft (myself included), and recieve money that could effectively clear the overdraft will be forced to do so. Why should someone that has £3k say of an overdraft, and receives £2.5k in charges back be allowed to fritter the money away? Set their overdraft limit to £500 i'd say. It's typical of the attitude of today people have regarding money... i could launch into a huge rant, but i won't.