#31
Why are you keeping £50,000 in this Natwest account which you say you are using 'to save' when Natwest no longer pay interest on current accounts.

You claim to earn a six figure salary and yet you have a 'wages' account with HSBC. Do you know the difference between a salary and a wage?

Despite being busy earning your 6 figure salary/wage you have time to play on online casinos.

I find it unlikely that they have decided to close this account because of your 'spending and risk'. What risk? The account is substantially in credit. There is therefore no risk. I can well imagine though that they might not be too happy about their debit card being used for large gambling transactions, although I believe the most probable reason for closing the account is that for some reason they are not satisfied as to the origins of this money.

#32
Banks have to abide by laws, rules, regulations, codes, best practice etc etc. But also act out of common courtesy.



Banks need to give proper reasons for closing an account. It cannot be arbitrary. e.g.. we don't like the way you wear your sweater/jumper inside-out when you visit the branch.



Here is an extract from a newspaper article:






....innocent people are falling foul of ever-increasing regulation aimed at stamping out money-laundering and other financial crimes.



Critics say these rules are being “overzealously” enforced by banks.

......

Caroline Barr, a member of the Financial Services Consumer Panel, said of Mr Bentley’s case: “The bank is behaving as though suspicion is falling on the account holder. It can behave as though it has no duty of care towards this customer because it has none.”



Ms Barr said that Mr Bentley’s case “highlights the disastrous consequences of a lack of a duty of care in banking, and why we need to legislate for one urgently”.


#33



You think wrong. No business has to provide you with any service it doesn't want to for any reason, barring things like race or sex discrimination.



It's also not in breach of the T&Cs because the T&Cs say that the bank can close the account for any reason given proper notice (or no notice at all in certain limited circumstances).
Originally posted by JuicyJesus


From the National Westminster Bank current account terms and conditions;



7.1 Closure by us



7.1.1 We can close your account immediately if:



(a) we reasonably suspect that you have given us false information;

(b) we reasonably suspect that your account is being used for an illegal purpose;

(c) you behave in a threatening or violent manner towards our staff; or

(d) you were not entitled to open your account.



7.1.2 We can also close your account by giving you not less than 60 daysÂ’ notice before we close your account.



http://personal.natwest.com/personal/current-accounts/terms-and-conditions.html

#34



Can your electricity provider decide to stop doing business with you? No. So why should the banks be allowed to do so? Banking, like energy supply, is a primary service on which we all depend, and without which, life gets very difficult, very quickly. Why then, should the banks be in the privileged position of being able to disown a customer?
Originally posted by GingerBob


The only utility provider who cant refuse to supply you is water. If you dont pay your bills, your electricity can be cut off.

https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/who-contact-if-its-difficult-paying-energy-bills/energy-supply-disconnection-and-prepayment-meter-rules

#35
The difference is of course that you can have many bank accounts but not utility suppliers.



So the golden rule is to have at least two current accounts, if one closes your account then you can operate with the other.

#36



Can your electricity provider decide to stop doing business with you? No. So why should the banks be allowed to do so? Banking, like energy supply, is a primary service on which we all depend, and without which, life gets very difficult, very quickly. Why then, should the banks be in the privileged position of being able to disown a customer?
Originally posted by GingerBob


How much do you pay your bank for them to pay your bills and manage your payments? (not including overdraft/packaged account fees where you have chosen for that service)



A bank is a business, there is choice out there as to who you bank with and if you want to. You don't like their attitude or T&C you go elsewhere. But apart from the product offers you will find they are all in principle the same and adhere to strict guidelines enforced on them.

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