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Bank cancelling my account??

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  • 11-12-2009 10:09pm
    #1
    cc-offe
    Registered Users Posts: 455 ✭✭


    Really confused as I got a letter out today from bank stating that because of the "continued unsatisfactory operation of my account, the bank, is no longer prepared to offer you banking facilities"
    I basically have 21 days to close account.

    Now....I don't understand this at all...I've had a few missed payments on things over the last year but most things have been paid, I haven't heard of this happening to anyone else....

    21 days isn't a long time especially with the christmas bank holidays, bit of a shock as the bank know that although I haven't been working for most of this time 95% of direct debits etc have been honoured.


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    #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    cc-offe wrote: »
    Really confused as I got a letter out today from bank stating that because of the "continued unsatisfactory operation of my account, the bank, is no longer prepared to offer you banking facilities"
    I basically have 21 days to close account.

    Now....I don't understand this at all...I've had a few missed payments on things over the last year but most things have been paid, I haven't heard of this happening to anyone else....

    21 days isn't a long time especially with the christmas bank holidays, bit of a shock as the bank know that although I haven't been working for most of this time 95% of direct debits etc have been honoured.

    How many is a "few missed payments"?

    Truth be told, sending you out a 21 day letter is a decision that would not be taken lightly. I suspect that this has been an ongoing issue and that you have been warned in the part. In that case they are well in their rights.


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    #3
    cc-offe
    Registered Users Posts: 455 ✭✭cc-offe


    I appreciate your comments but a few missed payments is 3 small loan repayments out of 27 and 1 mortgage repayment missed in the last 12 months. trying my best and coping fairly well considering I wasn't employed


    It hasn't been an ongoing issue as far as I am concerned as the loan is with this particular bank so whenever it was going to be missed I contacted them and they understood and never said anything like this would happen.

    I didn't get any warning hence my confusion


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    #4
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    Has the account regularly been overdrawn, and is the loan still in arrears?


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    #5
    cc-offe
    Registered Users Posts: 455 ✭✭cc-offe


    i don't have an overdraft facility on account, the loan still is in arrears but the loan department haven't been pushy on that as they know i'm making that repayment most of the time.

    Now i'm aware that they are entitled to do this but half the people I know are not managing to repay any of their loan commitments at the mo and just trying to concentrate on mortgage and in arrears in the thousands and I haven't heard of this happening to them.


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    #6
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    Has the account ever gone overdrawn regardless of not having the facility? If I were you I'd make an appointment to see the branch manager and see what the story is, and if there's a chance to get an extension on the 21 days to see you over the Christmas period.


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    #7
    cc-offe
    Registered Users Posts: 455 ✭✭cc-offe


    No it hasn't been overdrawn, My question is why me? when there are thousands of other people in worse situations who haven't had their banking facilities withdrawn. That's what I don't understand.


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    #8
    bad2dabone
    Registered Users Posts: 6,333 ✭✭✭bad2dabone


    ring them up, it could just be an automated letter. about 6 months ago I got a letter stating my credit card was going to be cancelled, i nearly sh1t a brick. I rang them and guy said it was an error, an automated letter and I wasn't to worry about it and everything was ok. Morons.

    Thankfully it gave me the push to pay the balance off and cut the thing up.


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    #9
    cc-offe
    Registered Users Posts: 455 ✭✭cc-offe


    Thanks bad2dabone, planning on ringing them up, typical with these things you always receive the letter on a Friday evening and have to worry all weekend,
    I wouldn't really care except with the banks holidays over christmas Its not leaving me with much time to sort anything!


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    #10
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    I've never heard of an automated 21 day letter. They're usually sent after a decision is made by the branch to close the account, or they have been instructed by the bank's credit control unit to do so.


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    #11
    cc-offe
    Registered Users Posts: 455 ✭✭cc-offe


    I don't really mind to be honest...I'll change banks no problem, just as I said i'm confused as I have't heard of this happening to anyone else, people whose accounts are in much worse states than mine, just seems a bit random I guess,
    I'm annoyed about a couple of other things with the bank also...first one is my fault so i'll hold my hands up to it and its about the loan mentioned before, I had insurance on the loan and although uemployed I never received any advice from the bank to actually claim against my insurance to cover it so have been paying most of it even while not working........
    now like I said I know that it's up to me but to be honest I forgot I had the insurance and the bank or credit control dept never reminded me.
    the other thing i'm annoyed about is a security breach on my account and a family members account (same bank) which I can't go into detail about on this forum.


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    #12
    cc-offe
    Registered Users Posts: 455 ✭✭cc-offe


    mystery solved, rang bank this morning and aparently they sent letter out to me to get me to ring them as they couldn't contact me...they weren't planning on closing account.
    Never mind the fact my that I have been in contact with bank recently and always left my contact details! But at least I won't be running around like a headless chicken now before christmas trying to rearrange direcct debits etc.


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    #13
    liger
    Registered Users Posts: 756 ✭✭✭liger


    Did you ask them why they didnt send a letter just asking you to contact them???


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    #14
    namloc1980
    Registered Users Posts: 18,244 ✭✭✭✭namloc1980


    Sounds like the Bank exhausted all avenues in trying to make contact and had to resort to sending a nasty letter.


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    #15
    Gordon
    Registered Users Posts: 35,524 ✭✭✭✭Gordon


    cc-offe wrote: »
    I don't really mind to be honest...I'll change banks no problem
    Just be careful, because you may have problems opening new bank accounts if you have a bad credit rating, at least it's like that in the UK where I am.


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    #16
    cc-offe
    Registered Users Posts: 455 ✭✭cc-offe


    I did ask why they didn't ask me to contact them but got some stupid answer about "procedures",
    I don't know how they exhausted all avenues because they had my number recently enough, they rang me before on it, very unusual.

    Around 6 years ago, pre mortgage in the time of bank charges for atm usage etc, I had an account with a different bank,
    I moved address, informed them of this change of address and one time I checked my online banking and they had taken €90 in bank fees, I made an appointment with the bank who told me they hadn't been able to notify me of bank charges for 18 months or something as they didn't have my address (and apparently they had to notify you of the charges 14 days before they took it out) so they hadn't been charging me bank fees for the 18 months so they charged me for the whole lot altogether,

    So I said "but you're saying you had to legally notify me, couldn't find me so you couldn't charge me and yet you just withdrew €90 without informing me a few days ago", I demanded the money back which I got and that was the end of bank fees for me, the bank eventually after checking their records had my address on file but hadn't bothered to update my account.

    Sounds to me like all banks are too lazy to keep notes on accounts.


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    #17
    matt70iu
    Registered Users Posts: 415 ✭✭matt70iu


    Got the same letter from the bank a while after I lost my job. Expected such a letter as MABS had prewarned me! Already had a new account open with another bank and just changed all the direct debits and standing orders over. Made an arrangement with the Bank to pay back what I owe and haven't heard anyrthing since. Always best to talk to them, but when you get into trouble, you may find that you'll need to change banks. Just don't bury the head in the sand as many do;)


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    #18
    cc-offe
    Registered Users Posts: 455 ✭✭cc-offe


    Hi Matt70iu, I did talk to them already and they said they are not closing my account, they just wanted me to contact them as they said they didn't have my number (which I had in fact given them but anyway)


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    #19
    matt70iu
    Registered Users Posts: 415 ✭✭matt70iu


    cc-offe wrote: »
    Hi Matt70iu, I did talk to them already and they said they are not closing my account, they just wanted me to contact them as they said they didn't have my number (which I had in fact given them but anyway)

    That's great, really glad to hear you got it all sorted, not a nice position to be in as i'm sure you know. In my own case, I gave them what I could, they were not happy (they told me so) to say the least, but none of it went to court. Best of luck with BOI (recognize the way they talk);)


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