Current Account Suspended.

[gravytrain]

Re: Current Account Suspended.

The allusions of rights, It would be handy to know a way I could force the bank to provide a reason(s) for their actions and give me back access to my account on points of law or legislation?

What about BCOB
http://fshandbook.info/FS/html/handbook/COBS/2/1

[leclerc]

Re: Current Account Suspended.

What about BCOB
http://fshandbook.info/FS/html/handbook/COBS/2/1

GT, the BCOB quoted relates to specifically "designated investment business" and current accounts do not fall under that. Unfortunately, a bank can decide to close an account giving 28 days notice without giving a reason.
Can I ask if they have actually said that they are closing the account? I suspect the branch will know that the bank is closing the account and it may simply have a note saying letter sent out.....

[gravytrain]

Re: Current Account Suspended.

GT, the BCOB quoted relates to specifically "designated investment business" and current accounts do not fall under that. Unfortunately, a bank can decide to close an account giving 28 days notice without giving a reason.
Can I ask if they have actually said that they are closing the account? I suspect the branch will know that the bank is closing the account and it may simply have a note saying letter sent out.....

Is there not a regulation under BCOB that would apply ?

They haven't closed the account, by what has been reported they have just frozen it and denied the OP access.

[leclerc]

Re: Current Account Suspended.

Is there not a regulation under BCOB that would apply ?

They haven't closed the account, by what has been reported they have just frozen it and denied the OP access.

The lack of info suggests that closure may be imminent. I have searched through BCOBS for something without success but they can shut an account.

[gravytrain]

Re: Current Account Suspended.

How about this one

3.2.1 R PRIN applies with respect to the carrying on of:
(1) regulated activities;
(2) activities that constitute dealing in investments as principal,
disregarding the exclusion in article 15 of the Regulated Activities
Order (Absence of holding out etc); and
(3) ancillary activities in relation to designated investment business,
home finance activity, and insurance mediation activity and
accepting deposits.

[gravytrain]

Re: Current Account Suspended.

This is the correct entry applicable to banking customers

http://fshandbook.info/FS/html/handbook/BCOBS/2/1

[leclerc]

Re: Current Account Suspended.

This is the correct entry applicable to banking customers

http://fshandbook.info/FS/html/handbook/BCOBS/2/1

That might be true but currently the question is how long is reasonable to receive that information and that is going to be down to definitions. Personally, and I think Ruby might have mentioned this one on the last page, I would have written an email to the CEO of the bank explaining the situation and the fact that nobody has communicated with you why you have no access to the account, and why no reason has been fully been given to you apart from, there will be a letter yet no letter has been received.

[enquirer]

Re: Current Account Suspended.

Suggest to them that in the event of their continued silence, you will have no option other than to assume that the reason for the disappearance of the account is fraud by an employee, and that they are covering it up. In which case, it will be with the deepest regret that you will have to report the matter to the police.

This tends to focus their minds.

[kbrkbr]

Re: Current Account Suspended.

Update. The accounts have reappeared and access has been restored as of 14:23 this afternoon, there is no information on RBS's back office screen as to what has happened over the last 7 days or what action caused it. I still don't know what has happened. I will be swiftly changing banks, and trying to take my complaint as far as possible, I'm not even sure of the integrity of the balances at this point as when the accounts disappeared from online banking so did my ability to review my transaction history. Not to mention the several cheques and a DD which I know will have bounced. What is customer service to these people!

[leclerc]

Re: Current Account Suspended.

Update. The accounts have reappeared and access has been restored as of 14:23 this afternoon, there is no information on RBS's back office screen as to what has happened over the last 7 days or what action caused it. I still don't know what has happened. I will be swiftly changing banks, and trying to take my complaint as far as possible, I'm not even sure of the integrity of the balances at this point as when the accounts disappeared from online banking so did my ability to review my transaction history. Not to mention the several cheques and a DD which I know will have bounced. What is customer service to these people!

stephen.hester@rbs.co.uk

That will get you through to the executive office. I generally prefer dealing with them especially when you ask, you are told and then you hear nothing. Explain that their block on the account stopped Direct Debits to x y and z. Explain the inconvenience and any charges placed onto the recipient accounts for non payment plus credit markers placed against those providers as a result of late payments. Include costs of phone calls and parking if you had to pay to go into a branch of the bank. Effectively, state that they gave you NO information as to why the account was blocked, NO communication was ever explained to you and ultimately as a result of the lack of information you are taking your business and money somewhere else(make sure it's not NatWest cos they are part of the same group).

[Ruby]

Re: Current Account Suspended.

So pleased for you that at least you have access to your account again and long last. Still no letter then and explanation what happened? Yes, please change your bank. No bank is perfect these days but I can honestly tell you so many stories about RBS that at the end of the day would make your jaw drop.

There is a reason why they take so long to address complaints and that is because they get so many that they are snowed under. What does that tell you?

[kbrkbr]

Re: Current Account Suspended.

stephen.hester@rbs.co.uk

That will get you through to the executive office. I generally prefer dealing with them especially when you ask, you are told and then you hear nothing. Explain that their block on the account stopped Direct Debits to x y and z. Explain the inconvenience and any charges placed onto the recipient accounts for non payment plus credit markers placed against those providers as a result of late payments. Include costs of phone calls and parking if you had to pay to go into a branch of the bank. Effectively, state that they gave you NO information as to why the account was blocked, NO communication was ever explained to you and ultimately as a result of the lack of information you are taking your business and money somewhere else(make sure it's not NatWest cos they are part of the same group).

Done, I'll put up the response when/if it comes. already in the process of moving banks Ruby, what an utterly aweful week!

[Ruby]

Re: Current Account Suspended.

We all have had at least one utterly awful week in our lives otherwise we would not be human

[kbrkbr]

Re: Current Account Suspended.

That seems to have done the trick 4 calls from the bank this morning. Still to little to late.

[kbrkbr]

Re: Current Account Suspended.

~ GCR - Executive Support <GCRExecutiveSupport@rbs.com>	2:24 PM (7 hours ago)
to me

Dear Mr xxxxxxxxx

Thank you for your email which has been received by Stephen Hester's office.

We are sorry to hear of the problems you have encountered recently. Your complaint will be allocated to a case manager who will aim to be in touch in the next 48 hours. As you have contacted us by email, we will need to identify you for security purposes and your case manager will outline how we do this when they contact you.
If you do have any queries in the meantime, please feel free to contact us.
Yours sincerely

Group Executive Office




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