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  • #1

    RBS Account Termination Letter

    Hi,

    My bank has threatened me to set off my funds I hold with the bank current account and savings against any debt owed? Can they do this legally without my say so or do they require approval from the court. I don't hold bank accounts with any other creditors which I have credit cards, which is a good thing, however could those creditors access my bank account without my authority is that not a crime?

    Letter attached.

    Thanks.
    Attached Files
    Tags: account, accounts, bank, bank accounts, barclaycard, barclays, cards, court, credit cards, creditors, crime, current account, debt, funds, letter, money, nationwide, owed, rbs, savings, set off, threatened, withdrawing
  • #2
    Re: RBS Account Termination Letter

    I'd be withdrawing any funds that I hold with that bank if it were me ............
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: RBS Account Termination Letter

      They are acting legally to use their right of set off but other creditors can't access your bank account (I'm not sure about other creditors within the same group.) As Deepie says, move whatever accounts you have with them to another bank that you don't have any debts with asap.
      Let your smile change the world but don't let the world change your smile

      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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      • #4
        Re: RBS Account Termination Letter

        I agree with the replies, Barclaycard raided my Barclays current account using their "right of set off" yes they will help themselves to your cash! Get away asap.

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        • #5
          Re: RBS Account Termination Letter

          They did say we may I guess they will in your case enforcer? I just got accepted for a nationwide bank account! I've got bad credit as well never know unless you try! They say if we don't receive payment from you within 14 days from the 24th November. I've heard people making a complaint to the financial ombudsman and getting 50% of the money back, however I am not going to risk any loss.

          Do you think the will track my account for the next 6 years searching for funds to pay off credit card balance? Or will they take whatever is there at the time once? Not heard of regular setting offs.

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          • #6
            Re: RBS Account Termination Letter

            Banking groups are known to offset, take money from bank accounts to pay for debts within their group, not for debts that are not associated with the group. If you transfer your account to Nationwide, as long as you don't have any of their cards your account will be safe. You will continue to be chased for outstanding debts but they won't be able to raid your account.
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment

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