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Student... Banks closing accounts, demanding repayment, won't even tell me why!
I hope this is the right forum to put this thread in.
New poster, first of all hi I found this forum after receiving a little postcard stating I was going to be called on by P Brown from NCO & googling the company.
Not sure where to start, so I hope this makes sense & I'll try to keep it succinct.
About a month ago (end of July), my mum attempted to transfer some money to my student bank account. After a few days, nothing appeared in my online banking, so I gave the bank a call. Apparently someone attempted to deposit a fraudulent amount in to my account & I needed to go in to the branch to sort it.
A few weeks later, I had the opportunity to go in to the branch & after a few phone calls etc by the agent he told me that it was a fraudulent deposit & the bank had decided to close my account and demand immediate repayment of my overdraft and credit card (£1750). He wouldn't give me any more details, that was the end of it.
After a bunch of re-worded, probing questions I managed to get from him that the transaction had come from Natwest bank & was over £1500 (I have no idea where this is coming from). I was trying to find out who/etc... but nothing, they won't give me any details because I might be involved in the fraud (ummm... wouldn't I know where it had come from then?). Apparently I would receive a letter confirming this within a few days & it would give me 30 days to repay the balance. Flabberghasted, I walk away from the bank.
I found it interesting that I received no notification of this and only found out after my mother had transferred a few hundred pounds of her money in to the account! Apparently my account had already been locked for over a month, why did I not receive notification?
A couple of days later, I get a call from Natwest collections department (I have a student account with them too). They're closing my account too because of a fraudulent transaction relating to my name (but not my bank account). I would receive notification by letter and have 7 days to repay the £1400 balance in full!
Anyway, as we stand at the minute, I have received the letter from Natwest & only have a couple of days left. But I haven't received the letter from HSBC, I would chase it, but I don't want to!
So... two banks are going to be wanting £3150 from me within the next couple of weeks & I have no idea what to do... completely stumped. Especially considering this shouldn't be happening. I was fully ready to re-pay this debt when I get a job after uni, but there's no way I can repay it while I'm at uni!
Obviously the reason I'm in that debt with them in the first place, is because I can't manage to live off my student loan. Because of my mum's income, I get the smallest possible student loan (£4000/year), which is not enough to pay for my rent, bills and food. So I had to get a part-time job just to survive. Even with this, I still managed to wrack up a substantial overdraft over the past two years. I should also note here... while my mum may be just above the income border to shrink my student loan, she's unable to help my financially due to personal reasons I would rather not go in to.
I have no valuable possesions other than my computer, which I need for university. So there's no way to re-acumulate this much money to pay them back within a year, let alone within a few weeks. And frankly... I shouldn't have to until my course is finished (another 3 years).
I'm worried that this will start spiralling upward with bank charges etc etc and it will just get rediculous.
Does anyone know if I have any re-course? Am I just going to have to let them take me through court, get a CCJ or something & still not be able to pay them?
I have no idea what to do & it's making me quite stressed.
Any advice would be greatly appreciated! Thanks in advance!
Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
I think they have given you an explanation - there was an attempt to make a fraudulent deposit in your name using a Natwest instrument. I would report this to the police and given your situation I would discuss it with your Mother.
Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
Originally Posted by Pinky69
I think they have given you an explanation - there was an attempt to make a fraudulent deposit in your name using a Natwest instrument. I would report this to the police and given your situation I would discuss it with your Mother.
Hey,
Thanks for the reply.
It was a deposit from *unknown* to my HSBC account, but it would appear Natwest have checked my name against their accounts & decided to close my account with them too
I woudn't say 'someone tried to deposit a fraudulent deposit in your account, we're going to close your account' classes as an explanation.
Who? When? Where? How? If they would give me any details, it might be possible for me to help them??
Also an explanation for just shutting off my account & demanding repayment when I have kept the account in good order for 8 years... if something dodgy happened without me being aware of it... shouldn't they have changed my account number as a precaution?
I mean... I could understand if dodgy dealings had been going out of my account, something I had been conducting, but one random person attempting to deposit money in my account? It makes no sense.
Or another piece of advice I could use... if it's not possible to get these banks to change their minds & re-instate my accounts... what am I looking at? What's going to happen? There's no way for me to possibly repay these until I finish uni in 3 years.
Also, my mother is aware of the problem, but what I was saying is she is unable to help me financially. I'm an 'adult' anyway... the onus shouldn't be on her to bail me out... something which I find ludicrous about the whole student loan thing... I get the same financial support from my parent as someone from a very low income family and yet I'm entitled to half the loan and no grant... but I don't want to get in to that now... I have other things to worry about!
Also... they mentioned they would be investigating, but still not offer me banking services... I suspect that means they will pass it on the authorities if they find foul-play. Do you think I should take it to the police too? I don't have anything to offer them & I believe they would send me away telling me they couldn't help me because I don't have any information. I could try?
Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
Set up another (basic) account at another bank asap so that you can give a new account number for next (academic) years student loans!
Then I would be demanding the details of the alleged fraudulent transaction. Why shouldn't they give you details unless they believe you are involved? They probably won't do that, so you might have to insist that they report the matter to the police. If they won't report it to the police or give you details then presumably your CRA file will be pretty well stuffed through no fault of yours - probably time for the courts but I'm not sure how ...
Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
When you return to uni make an urgent appointment with your student money advisor. They may be able to help.
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Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
Originally Posted by 2Grumpy
Set up another (basic) account at another bank asap so that you can give a new account number for next (academic) years student loans!
Then I would be demanding the details of the alleged fraudulent transaction. Why shouldn't they give you details unless they believe you are involved? They probably won't do that, so you might have to insist that they report the matter to the police. If they won't report it to the police or give you details then presumably your CRA file will be pretty well stuffed through no fault of yours - probably time for the courts but I'm not sure how ...
Already have done that, thanks Well... the application's going through, should hear from Barclays in a couple of days.
They've refused to give the details because I *might* be involved I'll call them to make sure they are reporting it to the police & if not, I'll take it to the police myself. Still won't help with the repayment of overdrafts though :-|
Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
Originally Posted by Pinky69
The banks will be investigating it as it was attempted fraud. I would offer to repay what you feel you can afford and see if that will be acceptable.
That's the thing... nothing is acceptable until I'm finished uni and have a full-time job. I simply cannot afford to pay them anything & be able to eat. I'm already overworked with my part-time job on top of uni, I'm certainly not getting another part-time job because of these cretins.
Would be a good diet though, if my food money was going to the banks, heh
Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
I should get hold of a copy of your bank(s)'s complaints procedure, and make a formal complaint regarding the closing of your account.
Demand a written explanation of what is going on - especially as it appears you may have been targetted by a fraudster [1]
This will first of all put the o/d in dispute, so the bank *should* stop chasing you whilst your complaint is in progress.
Unfortunately, an overdraft facility can be removed from an account at any time - about the only thing you can do is offer to repay £1 a month until the end of your course if the bank refuses to re-open the accounts under the same terms as previously.
Don't forget to reclaim your bank charges!
[1] basically, the fraud is to find out your name, address and bank details (maybe a cheque to an ebayer, or a bank statement out of the bin), they then pay a sum into your account using a stolen/forged bank draft of some type.
Then the crooks demand you to repay it directly to them, before the bank bounces it.
Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
It really is shocking that they are treating you like this when you are just as much a victim.
I would really force the issue with the bank about calling in the police. I would go in and if they haven't already called the police, make them do it right then and there. Don't leave until they do. Make a fuss, get progressively louder until they do. After all they have said someone has committed fraud- you need that crime number! Embarrass them- after all other customers would love to know that if they are a victim of fraud the bank will drop them like a hot potato!
Nationwide-A&L-Halifax 1-Student Loans Company-NatWest-Virgin Media-Link-Capital One ALL WON!
Thames Credit -statute barred sent 13/11/08
BCW- prove debt letter- 14/08/08
Apex- CCA 14/08/08
Redcats UK- SAR 14/04/09
Call Serve- CCA 14/08/08
Littlewoods- no CCA letter 03/09/08- Lowells now
Wescot- CCA 19/9/08
Capital One/Debitas- now with Lowells
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Re: Student... Banks closing accounts, demanding repayment, won't even tell me why!
Originally Posted by bigegg
I should get hold of a copy of your bank(s)'s complaints procedure, and make a formal complaint regarding the closing of your account.
Demand a written explanation of what is going on - especially as it appears you may have been targetted by a fraudster [1]
This will first of all put the o/d in dispute, so the bank *should* stop chasing you whilst your complaint is in progress.
Unfortunately, an overdraft facility can be removed from an account at any time - about the only thing you can do is offer to repay £1 a month until the end of your course if the bank refuses to re-open the accounts under the same terms as previously.
Don't forget to reclaim your bank charges!
I'll try that
[1] basically, the fraud is to find out your name, address and bank details (maybe a cheque to an ebayer, or a bank statement out of the bin), they then pay a sum into your account using a stolen/forged bank draft of some type.
Then the crooks demand you to repay it directly to them, before the bank bounces it.
Ahh - that makes sense... I have been a little loose with my bank details... never twigged I could be the victim of fraud through that route... hmm... ignorance is bliss (not!).
Student... Banks closing accounts, demanding repayment, won't even tell me why!
I found this forum after receiving a little postcard stating I was going to be called on by P Brown from NCO & googling the company.
etc by the agent he told me that it was a fraudulent deposit & the bank had decided to close my account and demand immediate repayment of my overdraft
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Originally Posted by Pinky69
