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Cater Allen - Terminated account 60 days notice

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    #31
    Originally posted by SimonKevNorris View Post
    This appears to be happening more now.

    Last year I sent a few cheques to the Inland Revenue and I had a call from Cater Allen as one cheque had been deposited into an Indian woman's account - despite clearly being written out to the Inland Revenue and my PAYE details.

    Anyway, they cancelled the cheque and opened a second account. I was told this would take a few weeks. A few weeks passed and nothing happened. I phined them and that triggered the process to actually do something.

    My statement at the end of January indicates that the balance from the old accont has been moved ot the new account on the 14th Janaury 2014.

    Today I received a letter dated the 5th March 2014 indicating that the new account would be closed in 60 days. Thinking that they had made a mess with the account numbers I phoned. They confirmed that the new account will indeed be close din 60 days time and asper the T&Cs they don't have to give a reason.

    So, I guess I'm in the same position and may have to check out Aldermore.

    My orginal account was with Flemings and it was opened in early 1993. Over the years I've recommened the bank to a number of contractors. I won't be doing that from now on.

    Does writing to Cater Allen get any better response?
    They are just Santander, who are just a broke Spanish bank run by cretins. Same as all the British banks run by cretins, except Spain has better food and substantially better weather and motorways (which were paid for by the cretins in Brussels, who extracted the money from us, because the Cretins in our Government didn't listen to Maggie anymore after 1994).
    I was an IPSE Consultative Council Member, until the BoD abolished it. I am not an IPSE Member, since they have no longer have any relevance to me, as an IT Contractor. Read my lips...I recommend QDOS for ALL your Insurance requirements (Contact me for a referral code).

    Comment


      #32
      Originally posted by SueEllen View Post
      Write a letter giving it the title "Formal Complaint" keep a copy and send it by signed-for delivery. Then if CA can't be bothered to give you a proper reply in 8 weeks you can refer them to the financial ombudsmen service.

      It's easy for you to do as you can complain to the FOS online, and it will cause someone in CA some hassle.

      In you case I suspect they think you are involved in the fraud so getting rid of you under some made up pretext is easy to do.

      If more people who were forced to close their accounts complained to the FOS they would be more careful about their "commercial" decisions.
      Thanks for that. What should the letter contain?

      1) Been with the bank since 1993
      2) No reason given for the closure of the account
      3) Mention the fraud and the way the accounts were transferred after a delay?


      If it's within the CA T&Cs there isn't really that much I can do, is there? Will the FOS actually do anything if I don;t get a response or a response that is BS?

      Comment


        #33
        Couldn't you pull this one on them as well?
        Find out how to request your personal information | ICO

        The reason for canning your account must be held on file somewhere, so just request all details regarding you / your company from them. Or is it different for company details compared to personal details?

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          #34
          Originally posted by SueEllen View Post
          Write a letter giving it the title "Formal Complaint" keep a copy and send it by signed-for delivery. Then if CA can't be bothered to give you a proper reply in 8 weeks you can refer them to the financial ombudsmen service.

          It's easy for you to do as you can complain to the FOS online, and it will cause someone in CA some hassle.

          In you case I suspect they think you are involved in the fraud so getting rid of you under some made up pretext is easy to do.

          If more people who were forced to close their accounts complained to the FOS they would be more careful about their "commercial" decisions.
          CA may well be legally bound from telling him why his account was closed.

          Comment


            #35
            Cater Allen 30 day notice

            Originally posted by Harrysp View Post
            Has this happened to anyone else? I have been banking with Cater Allen for 5-6 years and my account has always had a very healthy surplus, all of a sudden I have received a letter stating that they are terminating my account and they don't have to tell me why. I have always been extremely happy with them so this has come as a complete shock! can anyone shed any light on the matter and can anyone recommend another good business account?
            And here is me thinking I was alone! i have banked with CA since April 1999. 2 separate companies, average of about £45k in my account up to £150k at some times. Never been overdrawn, lots of Euro transactions when i travel. Great bank, recommended them loads of times, always answer the phone quickly, staff are great no problems at all.

            I apply for a Euro account because I landed a contract in Germany ------ 60 days notice to terminate my account with NO explanation! That was last November.

            So i went to HSBC (Do not do it - they are poor). Last month I start a new company similar type work, apply to CA - declined no explanation. I have a great credit history no probs on experian etc but CA will NOT tell me or the accountant why!

            It appears I have no right of appeal or the right to know why they came to this decision!

            Comment


              #36
              Originally posted by billybobster View Post
              I've just had exactly the same happen. We are a UK Ltd company (start-up going for 18 months). I just logged onto to make some payments and the account was not available. When I called, they told me they had issued a letter back in October giving us 60 days notice. We never received such a letter. When asking for a reason, the operator wouldn't give us one. Apparently the letter that was sent to us doesn't specify a reason either. This was a solvent business that had been reasonably quiet in the last month or so, but there is certainly nothing dodgy going on!!

              I find it unfathomable that no one from CA thought it fit to give us a call and that we are not going to get an explanation. Some jumped up banker has made a sweeping decision to close specific company accounts that are legitimate businesses. This is causing innumerable problems getting paid by suppliers and paying our own suppliers.

              So, if you are thinking about moving to Cater Allen, in a word, don't! They don't communicate well. It took ages to set the account up, and then they closed it without reason. No wonder the UK is in a mess. Stick to the big four banks - at least they won't just shut your account.

              Cater Allen - don't touch them with a barge pole!
              I am with yopu they are outrageous. Stay well away from them.

              Comment


                #37
                Originally posted by Emajaykay View Post
                And here is me thinking I was alone! i have banked with CA since April 1999. 2 separate companies, average of about £45k in my account up to £150k at some times. Never been overdrawn, lots of Euro transactions when i travel. Great bank, recommended them loads of times, always answer the phone quickly, staff are great no problems at all.

                I apply for a Euro account because I landed a contract in Germany ------ 60 days notice to terminate my account with NO explanation! That was last November.

                So i went to HSBC (Do not do it - they are poor). Last month I start a new company similar type work, apply to CA - declined no explanation. I have a great credit history no probs on experian etc but CA will NOT tell me or the accountant why!

                It appears I have no right of appeal or the right to know why they came to this decision!

                We don't want your money cos computer says "NO".
                "You’re just a bad memory who doesn’t know when to go away" JR

                Comment


                  #38
                  Originally posted by SueEllen View Post
                  We don't want your money cos computer says "NO".
                  Could it be they are in (financial) trouble, so slowly closing their business?

                  qh
                  He had a negative bluety on a quackhandle and was quadraspazzed on a lifeglug.

                  I look forward to your all knowing and likely sarcastic and unhelpful reply.

                  Comment


                    #39
                    Originally posted by quackhandle View Post
                    Could it be they are in (financial) trouble, so slowly closing their business?

                    qh
                    I doubt it.

                    Maybe they've just decided all those free contractor accounts are not worth keeping and they're looking to get rid of some of them. Either way, it doesn't improve my opinion of them

                    Comment


                      #40
                      Originally posted by borderreiver View Post
                      I doubt it.

                      Maybe they've just decided all those free contractor accounts are not worth keeping and they're looking to get rid of some of them. Either way, it doesn't improve my opinion of them
                      Nah, this is purely regulatory, or rather a heavy-handed response to regulation. Cater Allen and a bunch of other banks have been reducing their exposure to what they consider "risky" clients (notably those with foreign citizenship or regular foreign transactions) as the business risks associated with money laundering and other regulations increase. Check the recent news and you'll see examples across the banking sector (Santander, HSBC etc.).

                      Comment

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