Can the Bank of Scotland close my account with no notice

[Paulst30]

Hey ABrs

I've had my Easycash account closed by the Bank of Scotland for no reason with no prior notice either. All done on Friday afternoon, with no warning which left my family with no access to money over the weekend.

I read on the FSA website that a bank cant just close an account without giving at least 14 days notice. However, can the bank acualy close the account if i have money in that account?

They are restricting my funds i have in that account and where i come from thats just plain stealing.

What ammunition can i use against them??

worth noting that i was made bankrupt in May, but my trustee never said anything about my account being frozen. Apparently it was the banks arrears dept, kinda hard when i owe them nothing.

Thanks

[innocenti]

A lot of banks will not let Bankrupt people have an account with them. You will need to find a bank that will let you open a very limited account with them.

So in answer, yes they can close your account. I would go into the branch today and ask them for any money left in the account

[Ethel]

The bank has acted quite correctly - but you should have been informed by the trustee of the affects of bankruptcy.

The bank has not stolen your money - the money in there is an asset to be dealt with by the official receiver or your trustee. Technically it is not your money - it has to be distributed to your creditors.

It is all explained here.
http://www.insolvency.gov.uk/guidanceleaflets/ bankaccount/bankaccount.htm

[cascarelli]

Yes, of course they can, you've been made bankrupt - which you just slipped in at the end of your post. Any assets you have are meant to be used to pay off your debts. And, no, its not stealing - you presumably owe people money?

[Paulst30]

Well seeing you sort of just read information i could get myself i hate to say that you are wrong.

The money you declare at the signing and or date of your bankruptcy is indeed an asset, however if you agree a contribution with the trustee, any money you earn after this date is yours and nothing to do with the trustee.

I did get an answer, from the bank themselves.

They place a freeze on my account as standard practice, the funds in my account are mine. My account will be unlocked today for me to use again.

I was looking for a more personal experience in the answers but thanks anyway.

Heres a tip to anyone thinking its a great idea. NEVER enter into an IVA, pay your debts!!! you'll regret it if you dont.

I entered into an IVA 6 years ago, when i was a little less caring, now i'm still paying for it, you are never truly free from it unless you pay your debts.

[Ethel]

Until you are discharged from bankruptcy, the trustee is very interested in assets you aquire after you are declared bankrupt:

Assets Obtained Before Discharge

When discharged there may still be assets that were owned either when the bankruptcy began or which were acquired before discharge, which the Trustee has not yet dealt with. These may include property, an insurance or pension policy, an interest in a will or trust fund etc.

These assets are still controlled by the Trustee, who can deal with them at any time in the future. This may not be for a number of years after your discharge. In certain cases such as your family�s home and some types of insurance policy, a spouse, a relative or a friend may want to buy your interest, in which case, they are to get in touch with the Trustee straight away to find out how much they would have to pay.

You must tell the Official Receiver about any assets that may have been obtained after the Trustee has finished dealing with your case but before you are discharged. These assets could be claimed to pay your creditors.

You have a duty to continue to assist your Trustee after you have been discharged.