Help! Lloyds TSB accounts frozen. Multiple vantage

annoyed26

Hi there guys
I have a major headache on my hands.
Opened a joint vantage account a while back after reading abt it on this forum. Am working whilst my partner is a student.
Read that we could open several vantage accounts so I opened one under my own name and one under hers..

I get my salary paid into my hsbc bank and transfer 1k from my hsbc account into my account every mth as is required by the vantage account, whereas rent goes into the joint account. (partner stays in a joint flat under her name), and money goes to the lettings agency from this joint account

When my account goes over 7k (limit where we get 0.1 or literally no interest) my partner transfers it into her vantage account, sometimes transfers money frm her own private account to her vantage.

As a surplus we get some $$ from our parents when we go back for holiday...

We have had this account for about 9mths ++ now.. and suddenly its frozen.
No explanations and went into the bank once on saturday.. was told to come back on tuesday after bank holiday as the ppl were 'not in' on saturday. I work weekdays so didnt have a chance till the following saturday when i was told 'team only opens mon-fri 9-5pm...'

So my partner has to sort everything out as its during weekdays and I cant get any leave. Now she goes in, spends 2-3 hrs sitting down with them and explaining the bank accounts & the money going in and out etc.. so they say ok.. and tell her to get a letter from her school.

Next day she brings this in.. and they still wont open. and tell her she needs to explain every single transaction in the past year. Exams are the following week so she does not have time for this. She has mentioned this to the assistant manager but she has been unhelpful, and gets her to bring new things to do each day instead of giving a list of things needed all at once, which is annoying. Also on asking if there was any1 higher up to speak to or write a formal complaint she says.. no one else u can talk to.. just me.

They might be investigating for ?money laundering/fraud which is unlikely unless one of her tenants is using illegal funds but its quite unlikely as no tenant has changed for the past 8mths? We understand the account being frozen but what is the timeframe for them to sort this nonsense out?

Is this re: having multiple vantage accounts? Is there anything that can be done in the meantime? The accounts are frozen for how long? It is a good thing we havent fully trusted lloyds and put our money in there for long, never had this problem with other banks. Also re: the terrible customer support in lloyds whats the complaint process like?

Thanks for any help provided!

johnmoney05

I have the same situation with HSBC. Basically, I put my salary in every month, then transferred out to my LTSB vantage accounts and other saving accounts, because there is no interest in the account with HSBC. Then last week, I received a letter from them, saying they would close all of my accounts including the regular saver. I don't want to spend time for debating with them, and I never like HSBC, so I just let them close the accounts. So, I think transfer around the money to qualify the minimum deposit every month seems annoying the banks.

scottishblondie

I don't think it's just due to having multiple Vantage accounts, myself and my Mum have been doing this kind of thing with Vantage accounts and Halifax Reward accounts for ages now, no bother. We also use the same £1000 to circulate around all off the accounts, but they haven't flagged anything up about us paying each other £1000 on a regular basis.

Something about the accounts has upset them, but it's difficult to say what it is. I think you definitely need to escalate it to a higher level. I would have thought that they have a special department you could speak to if they are investigating you for fraud or money laundering. If you're just dealing with a member of staff in the branch then there must be someone higher up.

My advice would be to begin with their complaints procedure. A telephone number and an address to write to can be found here. Maybe someone there can connect you to the department that investigates this kind of thing, I would ask if there is someone I could deal with in writing rather than going into the branch all the time.

iereboy

It is definetly NOT for having multiple vantage accounts.

People have 17 Vantage accounts and its all fine. (limited to 3 now)

Something has shown up and they are probably investigating you for
fraud/money laundering.

There is no "you're being investigated department" a customer can speak to if they are being investigated!

If you want to make a complaint write in. Address is on the website.

jonesMUFCforever

OP does not state how he opened an account for his partner - would she not have had to provide identification in her own right?

annoyed26

thnx for input guys.. will rmbr your advice.

Abt the account she did provide identification etc when she opened the account.. they couldnt/wouldnt give her a reason that it was blocked:-

But they unblocked it a couple of days after I posted this msg here. Slightly annoying that they restrict access without a proper apology or compensation for lost time/inconvenience.

Considering moving to a new bank but still undecided.

Thnx again for ur input guys!

simpleguy_blr

Hi,

I am experiencing the same difficulty from Lloyds, my bank accounts are frozen, so is my partners..

When we went to branch, The branch Manager said they could not give any specific reason, but the Centre has decided that our accounts are to be closed and money to be returned!!

My question is will this effect our credit rating in any way? should I write to their complaints department?

I have not broken any laws by moving around money from one Vantage account to the other just as the OP has written.!!!

System

Current accounts (and probably even more so Vantage accounts) are generally loss making unless they have a large balance at 0% credit interest or they use the overdraft. They are largely provided so the bank call cross sell you credit cards, loans etc.

Maybe they just don't want you as a customer.?!

I would suggest just accepting it and moving on - the bank can close your account(s) with 60 days notice for no reason at all.

Rupert_Bear

simpleguy_blr wrote: »

Hi,

I am experiencing the same difficulty from Lloyds, my bank accounts are frozen, so is my partners..

When we went to branch, The branch Manager said they could not give any specific reason, but the Centre has decided that our accounts are to be closed and money to be returned!!

My question is will this effect our credit rating in any way? should I write to their complaints department?

I have not broken any laws by moving around money from one Vantage account to the other just as the OP has written.!!!

I have three Vantage accounts and 2 classic accounts. I havnt noticed Lloydstsb giving me a hard time.

Also once a month I just transfer a 1000 pound stg from Vantage account to another.

However been with them for over 30 years and have overdraft facilities of 10k.

You must have done something or maybe there is something worrying them on your credit file.