Attention UK Bitcoiners

[ukbitcoiner]

My UK bank account has been closed (with RBS). No reason given. Even customer service said they don't even know why.

Could it possibly be because banks don't like people trading bitcoin maybe?

I sold quite alot of bitcoins. Maybe 1 or 2 people filed a complaint to try and get their money back so the bank closed it, who knows?

Has this ever happened to anyone else?

[evilscoop]

uk banks and bitcoin is a wasps nest atm...

not heard of an account just getting closed for no reason though

[naphto]

Call your bank and ask why ... They have to know why.
And selling digital stuff is not an excuse for closing a bank account.

[Joshster]

Not sure, it could be possible people tried to commit fraud so the bank deemed you too high of a risk and just shut you down. Back when I sold MMORPG items I sold thousands of pounds worth and never had my bank shut me down and I am with LloydsTSB. Maybe give a call to head office.

[ukbitcoiner]

Call your bank and ask why ... They have to know why.
And selling digital stuff is not an excuse for closing a bank account.

I called and was on for almost an hour, in their T&C's it states they don't have to give a reason apparently.

Bullshit! 

[Come-from-Beyond]

Call your bank and ask why ... They have to know why.
And selling digital stuff is not an excuse for closing a bank account.

I called and was on for almost an hour, in their T&C's it states they don't have to give a reason apparently.

Bullshit! 

Keep posting. If u stop we will think u was arrested and put into Guantanamo.

[evilscoop]

they dont have to give a reason, but if your account was in credit, even by 1p they cant close it without notice

[ukbitcoiner]

Call your bank and ask why ... They have to know why.
And selling digital stuff is not an excuse for closing a bank account.

I called and was on for almost an hour, in their T&C's it states they don't have to give a reason apparently.

Bullshit! 

Keep posting. If u stop we will think u was arrested and put into Guantanamo.

Still here. Posting from my calculator in Guantanamo.

[ukbitcoiner]

they dont have to give a reason, but if your account was in credit, even by 1p they cant close it without notice

£1k+.

Closed, no notice, no nothing.

[bonker]

Call your bank and ask why ... They have to know why.
And selling digital stuff is not an excuse for closing a bank account.

I called and was on for almost an hour, in their T&C's it states they don't have to give a reason apparently.

Bullshit! 

Keep posting. If u stop we will think u was arrested and put into Guantanamo.

Still here. Posting from my calculator in Guantanamo.

I've just lit a candle for you.

Srsly, the UK is a piss poor example of how not to be an innovative country. Give it two years and those shitbags at RBS etc will be putting adverts out about how they embrace the new Bitcoin economy and all that toss.
 

[evilscoop]

Closure by us
7.1.1
We can close your account immediately if:
(a) we reasonably suspect that you have given us false information;
(b) we reasonably suspect that your account is being used for an illegal purpose;
(c) you behave in a threatening or violent manner towards our staff; or
(d) you were not entitled to open your account.
7.1.2
We can also close your account by giving you not less than 60 days’ notice before we close your account.

rbs t&c's

[Come-from-Beyond]

Closure by us
7.1.1
We can close your account immediately if:
(a) we reasonably suspect that you have given us false information;
(b) we reasonably suspect that your account is being used for an illegal purpose;
(c) you behave in a threatening or violent manner towards our staff; or
(d) you were not entitled to open your account.
7.1.2
We can also close your account by giving you not less than 60 days’ notice before we close your account.

rbs t&c's

Is there anywhere a definition of reasonable suspect?

[ukbitcoiner]

Closure by us
7.1.1
We can close your account immediately if:
(a) we reasonably suspect that you have given us false information;
(b) we reasonably suspect that your account is being used for an illegal purpose;
(c) you behave in a threatening or violent manner towards our staff; or
(d) you were not entitled to open your account.
7.1.2
We can also close your account by giving you not less than 60 days’ notice before we close your account.

rbs t&c's

So going by their T&C's ... it has been closed for being used Illegally? Will the police be there when i go in branch to collect my money? 

[evilscoop]

see consumer forum
http://www.consumeractiongroup.co.uk/forum/showthread.php?118534-Rbs-Account-Closed

its not the first time they have done this....

[ukbitcoiner]

see consumer forum
http://www.consumeractiongroup.co.uk/forum/showthread.php?118534-Rbs-Account-Closed

its not the first time they have done this....

Thanks for the links. I have images of me going in to collect my money and them calling the police 

[Joshster]

Do you have quite a large sum in there, I don't think they will call the police.

[ukbitcoiner]

Do you have quite a large sum in there, I don't think they will call the police.

Around 1.5k. Not a massive amount but not a small amount either

[Pteppic]

I think it depends on which bank you are with. HSBC shut my account when I was selling BTC and only reopened it on the understanding that I would not do any more BTC trades on the account. I think the red flags were receiving lots of bank transfers from individuals and receiving a transfer from someone on a watch list of suspicious accounts or something.

[coinaddress.com]

I don't see how they can just close it. How can they consider you acted "illegally" by trading Bitcoin? if that is what they are saying.

I would go down to my local branch and not leave until they give me 1. my money and 2. a letter stating why.

These people think they own the world, but not for much longer if BTC has it's way ;-)

Keep us posted how it turns out.

Cheers

CA

[ungirt]

I think they most certainly DO have to tell you why they closed your account:

Closure by us
7.1.1
We can close your account immediately if:
(a) we reasonably suspect that you have given us false information;
(b) we reasonably suspect that your account is being used for an illegal purpose;
(c) you behave in a threatening or violent manner towards our staff; or
(d) you were not entitled to open your account.
7.1.2
We can also close your account by giving you not less than 60 days’ notice before we close your account.

As they havn't given you 60 days notice, then they must suspect you of providing false information, illegal activity or not being entitled to open the account in the first place (I'm assuming you havn't been violent towards any of their staff recently). So they need to tell you why. If they can't then I would accuse them of being in breech of their own terms and conditions and liable to damages for your loss of trade as a result of having your account closed.

Don't let the bastards get away with this.