Santander explains 'all payments' rule for customers

Lloyds Bank and Santander have provided information about their security measures in response to a customer's query on social media. The customer wanted to move a large sum into their account and reached out to several of the big name banks for help.

They asked: "I am considering moving over £7,000 into my bank with you, will this be flagged as I have heard you close accounts for this thanks?" At the time of writing, only Lloyds Bank and Santander have responded to the query.

Santander said in reply: "Whilst we do not close accounts for this reason alone, all payments are subject to normal security checks." The group also shared a link to their website with information on fraud prevention and protection.

The guidance explains that

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