When a bank closes your account you are entitled to complain to the bank. If you are not happy with the response you can take the matter to the Financial Ombudsman for a ruling. Most people are just unaware that the terms and conditions they agree to when opening an account gives the bank the right to suspend or close that account with 90 days notice (until recently it was 60 days) and do not have give a reason why.
As a result the ombudsman is inundated with complaint made against banks – and the vast majority are not upheld. There ARE however situations where the ombudsman DOES uphold a complaint following account closure so I thought it would be helpful to give a few of the rulings. Firstly examples of complaint not upheld followed by some that have.
I implore you to read through a few below so you see how the ombudsman comes to its decisions, the powers the banks have how little compensation is awarded when complaints are upheld. It might dissuade many of you from going through the complaints process!
You can view all (there are thousands of them!) HERE
Complaints Not Upheld