Legal Action Against Bank

[fkofilee]

Evening All

 

I am considering legal action against my bank. I would like to know if during the legal process, they have the right to withdraw my bank account facilities?

 

I know they can do as per T&Cs as appropriate but i remember reading somewhere they cant do it while I we are going through mediation etc ?

[BankFodder]

I think that you need to give much better details before anyone can advise you

[Conniff]

Is this business or private accounts ?

[fkofilee]

Agree with BF but for now I would like to keep it on the low...

 

Its a personal account.

[Conniff]

I think whatever the circumstances, they will make a case that the relationship has broken down.

 

 

There is, however, an implied term in your contract with the bank that they will not normally close a customer’s account without giving reasonable notice. Reasonable notice for private would be 30 days.

[Gemma.]

But in practice they do just shut down bank accounts without notice so best have a backup plan and account. A friend of mine had his personal account and business accounts closed down and the first he knew was a bounced DD letter from a credit card. But it's the start of another long slog through FO and FCA etc and court to get any redress, meanwhile the bank accounts are closed.

[Klandestine]

The terms and conditions of most banks will state that they can close your account for any reason by giving 60 days/2 months notice.

Only in certain cirumstances will they close your account immediately - e.g. if they believe you are doing something illegal/fraudulent, have been abusive to their staff etc.

 

(If you're considering legal action against a bank why would you even want to continue banking with them?)