I need your help, my bank account was closed

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a.liverpool
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#1
Report Thread starter 4 years ago
#1
Dear all

I am an international student who have been in UK for two years studying a postgraduate research degree.

I am self-funded

I had an account with a particular bank here in UK since I arrived here, everything was going smoothly with my payments and account until 2 weeks ago when I suddenly found that the bank closed my account , without previous notifications, without any previous letter.
I was trying to log on my internet banking and it show "YOU DON'T HAVE ANY ACCOUNT WITH US"
I rashed to the branch but no one helped me, nobody explain the cause or advise me what to do as a next step. They just mention a letter has been sent to you with a cheque of money and review on closing account.
I got the cheque but without the review, nobody told me what is the cause of this mess, I can't use my money till a new bank accept me , I can't pay my tuition fee to university nor accomodation fee, I can't draw any money from cheque till l open new bank account with another bank.
l am writing here begging for your advice, I don't know the rules in this country , I don't know what to do or whom to ask, I went to international student advice at my university and they just advise me to try to open a new bank account if any one will accept me.
please help me.
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3121
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I highly suggest going to nationwide, your first priority is getting that cheque into a new account with stability and assurance you won't be put through the same hassle, once you've sorted that I'd contact the bank and get it dealt with just to prevent it happening in the future and cleaning any black marks they've put on your records. I'm afraid banks withhold the right to terminate business with anyone on their own discretion so there's not much you can do in terms of legal action or complaints to financial authorities since they'll say the banks were acting within their rights. Your best bet is going to a new bank with a good reputation, getting reassurance and moving on.

Although this is an unusual case due to the sudden and unjustified closure, so you may be entitled to compensation as your bank did not allow you sufficient time to make new arrangements, I also believe it was closed due to your foreign status (it's the only reason I can think of from the info you provided) which could be discriminatory. So on grounds of discrimation (hard to prove) and distress caused by lack of notice (easy to prove) you could be entitled to compensation, file a complaint with the bank and demand you be compensated or you'll take it up with the Financial Ombudsman Service
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Reue
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Banks have the right to close accounts without giving a reason. Indeed if they suspect money laundering then it is actually illegal for them to tell you the reason.
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a.liverpool
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(Original post by zayn008)
I highly suggest going to nationwide, your first priority is getting that cheque into a new account with stability and assurance you won't be put through the same hassle, once you've sorted that I'd contact the bank and get it dealt with just to prevent it happening in the future and cleaning any black marks they've put on your records. I'm afraid banks withhold the right to terminate business with anyone on their own discretion so there's not much you can do in terms of legal action or complaints to financial authorities since they'll say the banks were acting within their rights. Your best bet is going to a new bank with a good reputation, getting reassurance and moving on.

Although this is an unusual case due to the sudden and unjustified closure, so you may be entitled to compensation as your bank did not allow you sufficient time to make new arrangements, I also believe it was closed due to your foreign status (it's the only reason I can think of from the info you provided) which could be discriminatory. So on grounds of discrimation (hard to prove) and distress caused by lack of notice (easy to prove) you could be entitled to compensation, file a complaint with the bank and demand you be compensated or you'll take it up with the Financial Ombudsman Service

Thank you very much for your advice, I'll follow all these steps.
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(Original post by Reue)
Banks have the right to close accounts without giving a reason. Indeed if they suspect money laundering then it is actually illegal for them to tell you the reason.
Usually they would freeze it and have it investigated rather than close it
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Reue
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(Original post by zayn008)
Usually they would freeze it and have it investigated rather than close it
That would alert the person that they are under investigation which, as i said, is illegal.

For money laundering they will just close the account without any further information.
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