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can a bank refuse to give you your own money?
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Is it off topic to start imagining the potential consequences of grilling someone who has had a boob job?... Yet there's a drug dealer around here who's never worked a day in his life, but has 4 top of the range cars and a girlfriend who's just had a boob job.
Why don't the authorities grill them like they do the rest of us???Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
They'd melt surely?0
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Although this is almost certainly linked to money laundering checks it does seem rather bizarre behaviour.
If a bank has any inkling that money laundering could be taking place (and contrary to some posts her that could be on withdrawal as well as depositing the money as the fast turnover of funds through several accounts can certainly be an indication of trying to disguise the original origin of the money) then they should not be making the customer aware of the suspicion.
If they suspected money laundering then they would usually let you complete the transaction and then report it to the banks money laundering compliance officer to investigate. By making you aware of their suspicians they are actually guilty of 'tipping you off' of their suspicians which is against the money laundering regulations they are trying to conduct.0 -
OP - how was the money transferred from Natwest to Santander in the first place/ If it was by cheque or bank transfer, this should satisfy money laundering requirements."You were only supposed to blow the bl**dy doors off!!"0
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That is a good point. So actually if the bank tell you that what they are doing is related to money laundering, the one thing you can be fairly certain of is that the real reason has nothing to do with money laundering.... If they suspected money laundering then they would usually let you complete the transaction and then report it to the banks money laundering compliance officer to investigate. By making you aware of their suspicians they are actually guilty of 'tipping you off' of their suspicians which is against the money laundering regulations they are trying to conduct.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Empty_pockets wrote: »They'd melt surely?
No, they'd explode...0 -
It's a sales tactic (in most cases).
I used to always get this when moving money, and because it was always within the banking system there was a trail to satisfy money laundering - yet they still tried to sell me investments which I did not want.
Nationwide refused to give me my money (£40k ish), but due to not having a passbook - it was a bond from when the Portman existed so only had certificates, and the fixed ended when Nationwide took over. Still I had to wait 20 working days to get a passbook, and they only processed it as 'lost' when I never had one in the first place. Good job I asked for it 5weeks before exchange, image if I only asked a week before. I saw red that day!0 -
I have. Nothing's been done AT ALL.Caroline_a wrote: »Why haven't you reported him?0
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