Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
Yesterday my husband received a letter from the Co-operative Bank saying, "we no longer wish to retain your banking business"!. The reason they state is he has been conducting the account in an "unsatisfactory manner".
Now, he's had this account for about 4 years and in all that time, in fact only in the last couple of months, has the account ever been overdrawn at the most on about three occasions. We are not talking about hundreds of pounds here, £30 at the most and the account was put back in credit a day or two later. We have checked back over all the statements and don't understand why they have done this. The account was certainly not run in an "unsatisfactory manner".
He was always really careful not to go overdrawn and was obsessive about checking the account every day. To make matters worse on checking the account online last night the bank have already taken off all the DD and standing orders on the account. This basically means that any DD that are due to come out from now on will obviously not be paid.
He is absolutely furious. I told him the reason they've probably done this is because they are not making any money out of him because the account was run in a way they don't like and more often than not was always in credit.
I'm really annoyed about this as well as I've also got an account with the Co-op. Can they actually do this and cite a ridiculous reason as "unsatisfactory manner" even when it's not?
So be warned, if you have a Co-op account I would keep a very close eye on it.
If they have already cancelled all his DD and whatnot, they are in breach of the Banking Code, as they're supposed to give them ... 30 days, I think, notice.
You need to write to them asking for an explanation. Then complain to the fos, there's a chance you could get compensation if the decision goes in your favour, and it costs you nothing. ;-)
Apologies to people who I was in the process of helping, I may be gone some time.
Well, the letter dated 8 July, states that the account will be closed in 30 days, but they have still cancelled all the DD's on the account.
They will be getting a very strong letter indeed. However, I have just discovered on another consumer forum that the Co-op operate a "three strikes and you're out" policy. So basically if the account goes overdrawn three times, no matter how long you've had the account, that's it. Closure. So even if the account has been in credit for the majority of the time, just three slip ups, no matter how small, account closed.
And the bank's wonder why customers are fuming. If I had my way, I wouldn't even have a bank account, I don't like DD's anyway as I believe it gives too much control to a third party over your money.
Can't disagree with you there, I don't do DD myself.
You could still complain to the fos, not because of the closure (even though it does seem OTT, it is their right) but because of the cancelling the DDs, which could have cause you serious trouble and money (the company drawing the DD could be levying their own charges!).
Apologies to people who I was in the process of helping, I may be gone some time.
ihad the same problem with the Co - op nevert had any problem for month (i have only once overdrawn) then suddenly tryied to paid a bill couldn't. rang them tup to be told they have frozen b my account until it is closed as it was managed in an unsastifactory way.. they didn;t care about 30 days notice etc... .
DONT Touch the thinkbanking account - whilst you have the money 'taken' from your salary they take a fee as well - and after three months they try and get you to change to a current account with extortionate fees - been there and been stung. It used to be called a 'managed account' with RBOS (and look how much they have lost - and will need to 'recoup' from somewhere - ie their customers).
The Halifax do a basic account where you can have direct debits and don't need any ID to set up - it's also got online facilities.
Hi everyone, i had this happen to me too, today. I check my account daily, and today i found all my standing orders and direct debits gone! I called the co-op to be told my account was being closed, as i had gone overdrawn by £7.00 for 2 days. I had no warning or no letter from them at all, and now i am furious. I have my dd's going out in a few days, and no bank account. Does anyone know of an account i could open, that has no overdraft but just does dd? I have tried several times to open a bank account to no avail. I have no ccj or defaults on my account now, as i had them removed, by the court.But still i cannot open an account!This is going to cause me lots of problems now, as i will get charges for dd not going out, and i am a single parent of 2, and i am really struggling to pay my mortgage at the moment, as my business folded because of the credit crunch. Any advice will be greatfully recieved.
Oh dear I didn't enjoy reading this - I've just opened a co-op account as I'm going to send first direct a reclaim charges letter and wanted a safety net account in case they got funny. But we're always going overdrawn - maybe I'd better have another think.
Unbelieveable that a bank can act like this - why don't they just not pay any amount which would take you overdrawn if they hate it that much??
coop have just sent me a letter for same...best of its 3 strikes and your out, the first two were a mistake from paypal, so i complained and asked for the 2 x 19.50 charges to be dropped, next day the first 19.50 charge was applied and made another payment i had put funds in to cover,bounce which gave me three stikes...they are a joke...i have run the account perfectly for nearly three years....dont use them is my advice!!!
learn only from my mistakes and what the courts find in my favour
"ALWAYS QUOTE ME AS BEING MISQUOTED"
if this has helped i would love you to click my scales..
The curlywurly is called a "cedille", and I don't bother with them either, lol. (although it does chane the sound from "kk" to "ss", but anyway...)
literal tranlation is of course "Beach Boys", a rather well-known band, lol.
However, unless you are heavily into homo-erotism, I wouln't google the French translation, as you might get a very different meaning to the word "bande"...
Apologies to people who I was in the process of helping, I may be gone some time.
Closed account - unbelievable
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Re: Closed account - unbelievable
