I think there’d probably be millions of account closures if they set a rule like that, not a handful.
Closing accounts actually costs money - it generally takes up a fair bit of staff time and can result in complaints which also cost the bank money to process (and much more in staff time).
Closing accounts en masse wouldn’t be an effective way to save the business money. The account closures are probably risk/compliance based.
Does an account closed by the bank ( not for fraud) show up as closed by the bank on credit files?
I mentioned Santander closing my account after years of it being dormant over in the other thread on this issue, this is how that now shows up on my credit report:
Worth noting in their letter they didn’t blame it on any legal or regulatory requirements though, else I would have been straight onto them.
Does your credit report normally list them as Satisfied or Closed for other normal account closures?
Neither. The rest are marked as Settled.
Closed doesn’t sound great then.
AFAIK it hasn’t affected anything. I’ve still been able to open accounts and take out credit just fine (although Tesco did once refuse me their savings account, I just thought nothing of it).
For me they all show as closed, even loans that I settled
I don’t think it has an impact
Anyway, if OP worries they can close the account themselves by CASSing sooner
Hopefully that’s not the criteria otherwise I suspect a lot of people on this community have some bad news coming their way 
This doesn’t look good.
Bows out before controversially suggesting this is not good practice
Also worth noting that there have only been a handful of people mention this recently.
When they are stonewalled with scripted responses by Monzo, naturally they will end up here when using Google to look for a more comprehensive answer. So for now (and to me) it doesn’t seem to be a huge “wide spread” issue, perhaps just a bit of spring cleaning or it could even just be a coincidence that these people all did something “wrong” at the same time.
As customer numbers increase over 5 million, coincidences are likely to be more common and not necessarily indictive of anything catastrophic about to happen.
Is there anything you use your account for that is inconsistent with a person in receipt of Universal Credit? I.e holding savings in excess of the permitted limits or making large transfers? Does anyone else have money paid into your account?
Some banks use lifestyle profiling as a basis of assessing risk. It could be that you are doing something perfectly legal, but which would not ordinarily be consistent with a person claiming UC for example.
This case appears different from the available information in mark2021’s thread - in this case, Monzo are explicitly saying “we can’t tell you why”, and blaming their “legal and regulatory responsibilities”, which is frankly weird when taken in conjunction with ‘but you can still use the account for two months’
It seems to be the same to me. The difference being is that in the other topic they haven’t had an explanation yet so they are waiting for a reply. I can see them getting the same response as this though for reasons already mentioned.
The only possible ‘problem’ with an account closure on a credit score is if it was your oldest account that was closed as your financial stability over a long period is shortened to the next longest open account. It isn’t that much of a problem though.
Since universal credit can be claimed by people who are working then no. Too many variables
The UC seems to be a red herring on this
I’m pretty sure “average age of accounts” also takes into account closed accounts, but obviously the length of time you held them won’t increase anymore
I have small amounts sometimes debited to my account by my sister as she’s a full time carer for our mum and can’t leave the house but these are typical weekly grocery shop amounts nothing worryingly large.
I don’t hold any large savings nor do I make large transfers. No one has had access to the account or used my account for nefarious purposes.
Last year I closed my 20 year old Halifax account and it automatically defaulted to my 3 year old RBS account and impacted my score. Didn’t really care, but it does have an impact however little.
Thank you for having an empathetic approach. Given the current climate and with so many people dealing with loss whether that’s in the form of a loved one, a job or significant income reduction (all of which I’m currently facing) then situations like this are not exactly water off a ducks back.
