Bank forcing to close account

T

Tricky one

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Recently received letter from bank. Due to unsatisfactory relationship they want to close my business account within 21 days. I have to close it myself or they will close it themselves. During this time they will not accept any lodgements etc. I see something like this for the first time. Did somebody have similar situation? In letter they indicated amount of credit balance. Are they getting rid of customers?
 
By any chance was that bank Halifax? I know of somebody who also got a similar letter because they exceeded their overdraft.
 
No, Bank of Ireland. Well I had disallowed overdrafts and unpaid cheques too. But I paid extra fines for all these overdrafts. I asked them small overdraft previously,they did not give. Just do not understand the point.
 
If yoy hadn't sufficient funds or an allowable overdraft you shouldn't have written cheques. The banks would well be in the right to ask you to close the account.
 
Well on that time I expected to be in credit when I wrote that cheque. Do you think I enjoyed bounced cheques? Of course not and paid about €10 for cheque. I have start -up business and cash flow is just starting to improve. But why the bank did not close it when I was in debit? Now I have credit balance.
 
Yes I agree, it is maddness they are closing your account now that it is in credit. When things were going wrong they should have called you in and explained how it was.

Unfortunatly, because of a few defaults they see you as slightly risky and may not be prepared to put themselves at risk of bounced cheques etc in the future.

You should consider moving your account to another bank before BOI gets a chance to close it.
 
"You should consider moving your account to another bank before BOI gets a chance to close it."

This is the funniest comment I've seen in a while!

They couldn't close your a/c when you were in the red because then they would have been writing off your debt. These letters are standard form as the 21 day notice is obligatory.This is nothing new, many people would have received such letters over the years when a/c operation became unsatisfactory.
 
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