Jasper said he spoke to branch staff about his practice of withdrawing and immediately depositing large amounts of cash, and that staff told him he could continue to do this. In October 2022, the bank wrote to Jasper giving him 14 days’ notice of its decision to close his accounts. Jasper complained the decision was based on incorrect information and at odds with assurances from branch staff.
We told Jasper a bank could end its relationship with a customer at any time, just as a customer could move to another bank at any time. A bank is, however, obliged to act fairly and communicate its decision in a fair and reasonable manner. It was clear the bank had real concerns about the way Jasper operated his account, and made the decision to close his accounts on this basis. The bank gave Jasper adequate notice of its intention to close his accounts.
We did not uphold Jasper's complaint.
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