Major problems with prepaid credit card provider

Aristotle67

jonesMUFCforever wrote: »

You are not allowed to tip off anybody that there is an investigation going on - if you do you can be heavily fined or even imprisoned.

Yes, I can readily believe that; and if this is so, wouldn't there be a danger that not talking to the account holder could give the impression that there is an investigation and, therefore, indirectly tip the person off?

If there was a suspicion of money laundering or anything else untoward, it would make sense to me for the banks to allow transactions to go forward. That way, the investigators would have more chance of catching all those who might be implicated in any underhand business. I don't know that if this is what usually happens, of course; I am just speculating.

There may well be an investigation going on, but the card issuer has always been aware, from the statements, where deposits have gone and from where withdrawals have been made. In that respect, nothing new has occurred.

In the present case I am more inclined to think that somewhere along the line the card issuer has gone wrong; possibly they advised doing something which it is not straightforward or even possible to do (i.e. transfer the balance from secondary Maestro to primary Mastercard) and now that this has come to the fore they are not sure how best to resolve it. This could explain why they will not talk to me as they do not wish to endure the embarrassment of admitting they misadvised me in suggesting the procedure I followed. Again, I am merely speculating; but as they won't talk to me at present, speculation is all that is open to me.

I will continue to be interested in any further thoughts and comments, and thanks again to everyone who has responded.

jonesMUFCforever

Aristotle67 wrote: »

Yes, I can readily believe that; and if this is so, wouldn't there be a danger that not talking to the account holder could give the impression that there is an investigation and, therefore, indirectly tip the person off?
Could well be but as long as nobody actually says it or writes it the staff are in the clear.

If there was a suspicion of money laundering or anything else untoward, it would make sense to me for the banks to allow transactions to go forward. That way, the investigators would have more chance of catching all those who might be implicated in any underhand business. I don't know that if this is what usually happens, of course; I am just speculating.
This might have already happened - who knows when the card provider's systems picked up suspicions?

There may well be an investigation going on, but the card issuer has always been aware, from the statements, where deposits have gone and from where withdrawals have been made. In that respect, nothing new has occurred.
I agree but with pre paid accounts is there a written statement?
Payments go from one numbered sort code account number to another - no names and addresses - it is these I believe will be investigated.

In the present case I am more inclined to think that somewhere along the line the card issuer has gone wrong; possibly they advised doing something which it is not straightforward or even possible to do (i.e. transfer the balance from secondary Maestro to primary Mastercard) and now that this has come to the fore they are not sure how best to resolve it. This could explain why they will not talk to me as they do not wish to endure the embarrassment of admitting they misadvised me in suggesting the procedure I followed. Again, I am merely speculating; but as they won't talk to me at present, speculation is all that is open to me.
With relative small amounts I agree again - but I believe OP has mentioned £10k credit with payments then to other cards - this is typical actions of a money launderer (though I have said he might be totally innocent)
I will continue to be interested in any further thoughts and comments, and thanks again to everyone who has responded.

Any further thoughts and comments will be hearsay - I say something -somebody else will say it is rubbish etc etc - you will have to wait IMO until they finish their investigation and be ready to answer truthfully any questions they will ask you.

Aristotle67

I agree but with pre paid accounts is there a written statement?
Payments go from one numbered sort code account number to another - no names and addresses - it is these I believe will be investigated.

No, there are no written statements but there are online statements. I can, if I wish, look at all transactions which a secondary cardholder has made, though the converse is not the case. The card issuer can obviously look at everything. The secondary cardholder's name and address is recorded on the cardholder's site so transactions are attributable.

jonesMUFCforever wrote: »

Any further thoughts and comments will be hearsay - I say something -somebody else will say it is rubbish etc etc - you will have to wait IMO until they finish their investigation and be ready to answer truthfully any questions they will ask you.

I wouldn't answer in any other way, JonesMUFCforever; but as I have emphasised, all the information any investigating body could require is detailed for them on the statements of the cardholder and myself.

I appreciate your comments and frankness, JonesMUFCforever, and I have noted what you have said about how the OP (i.e. myself) might be innocent. There is no "might be" about it, though you only have my word for that!

jonesMUFCforever

What I am saying is that no they do not - payment from your card to another just has numbers so the authorities will ask the beneficiary card for information and so on which is why it may be some time before you have access to your funds.

Aristotle67

jonesMUFCforever wrote: »

What I am saying is that no they do not - payment from your card to another just has numbers so the authorities will ask the beneficiary card for information and so on which is why it may be some time before you have access to your funds.

OK; then there is just the one payment for them to look at and as they will receive full responses to any requests they make, from both myself and the secondary cardholder, it should be straightforward.

apples24

Hope you get it sorted soon thats a right ball ache and a lot of money

Aristotle67

apples24 wrote: »

Hope you get it sorted soon thats a right ball ache and a lot of money

Thanks; I hope so too!

The card issuer is still refusing to discuss with myself and the secondary cardholder and this is the most unacceptable aspect of all. If we knew for certain what the situation was, we might be able to help. I can't believe that the card issuer can refuse to talk to us in the circumstances but I do not know how to make them do so.

apples24

whats the latest?