I am not sure whether this is the right section/place for this,

but perhaps someone around here can offer advice on the following.

I recently got a letter from the R.B.S, informing me that that

"we have, with regret, decided that we will no longer provide these [bank account] facilities for you"

They don't give any reasons,

but I am assuming that my name has come up on some wide sweeping statistical based list for potential fraud/money laundering,

and I guess that the R.B.S doesn't like the little man trying to get a piece of their action.

I don't have a regular job, but work freelance offshore.

This means that I don't have regular income, but instead have large sporadic payments, often coming from abroad.

I have also traded Bitcoins during the bubble where I made thousands, and also during the crash, where I lost even more thousands.

This involved a high turnover of funds and international payments, including many payments into Bitcoin exchanges.

Due to my work, I am also abroad quite often, use my card abroad, and access my online banking from foreign internet ISPs,

which has caused the bank to suspend services to me in the past.

Aside from that, I have no debt with this bank, am always several thousand in the black, etc.

Whilst it doesn't break my heart that the parasitic übermonolithic R.B.S doesn't want to be my friend anymore,

I do find it quite concerning that these institutions, upon whom society has been forced to rely upon for 95% of all economic interactions,

have the power to simply cut someone off, without any evidence or proof of wrongdoing

(there isn't any because I am not and never have been involved with any fraud/money laundering).

Also, the bank states; "We will not be able to provide references for you".

If I am not mistaken, I will totally 100% need a reference from my previous bank,

in order to open another bank account.

Can anyone suggest to me any course of action that I might take?

Would telling another bank the truth about why I am wanting to open another bank account with them

simply result in an automatic rejection?

Am I going to be forced to lie to open another bank account?

try a business account that will take into account all of your vagaries. The old Alliance and Leicester bit of Santander would probably be best if they are taking on new customers.

Basically you were causing them too much trouble regarding compliance and they werent making money out of you so goodbye and bo**ocks.

The banks do what they want when they want however they want and to who they want.

If you're at all surprised by this then you were born yesterday.

There is nothing you can do to stop the account closure. I have to say that the refusal to give you a reference is heavy-handed and strikes me as being very unfair. I think that you could take an action about this – but if you have had income coming into this account, are you sure that you can answer all the necessary questions in relation to tax or national insurance that might occur if you do begin a serious complaint?

Where as normally this would be a private business, just like a shop or pub, and could chose it's customers, the RBS is essentially a government department with them owning 63% of the shares, so you might just have greater avenues to explore and make complaints to should the tax and ni mentioned all be in order.

If possible, then you have a great opportunity here to kick up a real stink and get some answers and then come back here and publish it all.

You have suggested reason you believe it has been closed so have changed the subject heading.

They don't give any reasons

They are not required to give you any reasons.

but I am assuming that my name has come up on some wide sweeping statistical based list for potential fraud/money laundering

This means that I don't have regular income, but instead have large sporadic payments, often coming from abroad.

This involved a high turnover of funds and international payments, including many payments into Bitcoin exchanges.

It could be due to suspected fraud or money laundering. Or maybe they suspect that you are using your personal account for business transactions which is a breach of their terms and conditions.

and I guess that the R.B.S doesn't like the little man trying to get a piece of their action.

No. It's simply a commercial decision.

I do find it quite concerning that these institutions, upon whom society has been forced to rely upon for 95% of all economic interactions,

have the power to simply cut someone off, without any evidence or proof of wrongdoing

(there isn't any because I am not and never have been involved with any fraud/money laundering).

They are entitled to choose who they do business with, just as you are entitled to choose who you want to bank with.

Also, the bank states; "We will not be able to provide references for you".

If I am not mistaken, I will totally 100% need a reference from my previous bank,

in order to open another bank account.

No you don't need one.

Can anyone suggest to me any course of action that I might take?

Just open a new account elsewhere.

You can complain but they won't overturn the decision.

Would telling another bank the truth about why I am wanting to open another bank account with them

simply result in an automatic rejection?

 

 

Am I going to be forced to lie to open another bank account?

No.

Where as normally this would be a private business, just like a shop or pub, and could chose it's customers, the RBS is essentially a government department with them owning 63% of the shares, so you might just have greater avenues to explore and make complaints to should the tax and ni mentioned all be in order.

Complete rubbish.

No. It's simply a commercial decision.

With any other company yes, with banks it's all about profit.