HELP!!!! Bank Account Frozen / No-ops

pmduk

I'm surprised the bank haven't already insisted on your opening a business account.

dalesrider

benog1985 wrote: »

To be honest it's something that accidentally turned into a business I suppose and there have been probably 20-25 transactions a month value between £2000-£3000 a month in & out total. Very small profits but I have all paperwork to give to my accountant when he does my accounts for this year. I am already registered as self-employed for my actual job.

bank manager did call me the following day to ask if I needed to get a business account. I declined and said will speak to my accountant which I intended to do when I sit down with him to see what he thinks.
.

So now the real truth is starting to trickle out :mad:

Odds on now its blocked as they have sussed out you are using a personal account for business purposes...
Amount of profit makes no diffrence....

So are there any of the usual spending going through this account or is it all paypal credits/debits.

dalesrider

izools wrote: »

They are different groups so the only information they share would be via credit reference agencies, all of which you can see, so given the CIFAS section is empty, you should be fine

You may be surprised that certain departments do actually talk to each other.

benog1985

dalesrider wrote: »

So now the real truth is starting to trickle out :mad:

Odds on now its blocked as they have sussed out you are using a personal account for business purposes...
Amount of profit makes no diffrence....

So are there any of the usual spending going through this account or is it all paypal credits/debits.

Sorry if you feel like "the real truth is starting to trickle out" but I've been racking my brains the last few days and can only think that this might be it.

My current account was opened in 2009 and used for my wages to be paid into and direct debits (mortgage, life insurance etc) to go out of. My eBay and PayPal was also linked to this account as I used eBay a lot to buy things and sell any unwanted items which led into me using eBay more often to sell and it went from there. As I said, I've never thought that I needed to get a business account until the bank manager called 3 weeks ago (I assume this was because I'd changed account and he looked over my old 1 to ensure I had the right account).

DevCoder

You are using a personal account for business which is against the T&C's of that account.

You need to open a business account with a non linked bank to Natwest.

benog1985

Would that be reason for them to hold the account and not let me take any money out, put any money in or have any access to that account though?

meer53

What are you selling on Ebay ? This could answer your question.

benog1985

meer53 wrote: »

What are you selling on Ebay ? This could answer your question.

Event tickets.

jonesMUFCforever

What kind of events.
Football tickets for example cannot be re sold by law, could it be that someone in authority has seen your Ebay auctions and reported you?

meer53

benog1985 wrote: »

Event tickets.

In large quantities ? Do you get them from an authorised source ?

I was thinking that if you were selling goods which are easily copied, ie. high end designer goods etc, then it might have triggered a check into your business transactions. A lot of counterfeit goods sales are linked to money laundering.

Still speculation though, it's a waiting game.