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

Savvy_Money

Whether the bank will pay compensation will be dependent on whether they had good grounds for freezing the account - for all we know the OP could a drug pushing baron - we only have his/her word for it that he/she is not a criminal. If as the OP indicates this is an error by the bank then yes the OP could seek compensation.

lovinituk

How do you know its just basic checks? There is obviously some investigation taking place regarding fraud or money laundering and the bank are not obliged to discuss that. For all we know the OP might be an international drug smuggler!! Not saying they are but you know them no better than the bank.

missindecisive

its a money laundering suspicion op. Have you paid in any large amounts of cash lately, or completed transactions that are unusual for you?

grumbler

lovinituk wrote: »

How do you know its just basic checks? There is obviously some investigation taking place

I don't know, but as I said, after an initial basic check they can either 'charge' the OP (e.g. say that it will take 1 week to 'investigate') or give some access to the money, e.g. restricted amount of cash over a counter.

For all we know the OP might be an international drug smuggler!!

For all we really know

they suspect fraudulent or criminal activity which there isn't any

lovinituk

grumbler wrote: »

I don't know, but as I said, after an initial basic check they can either 'charge' the OP (e.g. say that it will take 1 week to 'investigate') or give some access to the money, e.g. restricted amount of cash over a counter.

For all we really know

Exactly! We don't know! So there might not be scope for a 'simple' check, there might be police and other agencies involved. Then again its just easier to blame the evil banks again when you don't know all the details isn't it!

benog1985

Hi guys,

Thanks for your input, it is much appreciated. I thought that it may have something to do with money laundering regs due to the fact that they have "closed rank" and won't tell me anything.

I haven't done anything out of the ordinary with my account at all, it is my current account where my wages go in to from work and I use eBay quite a lot so have money going in from PayPal etc but I have done this for quite a while now (2-3 years) so nothing different.

The only thing I can think of is that I changed my account from a NatWest gold current account to their basic account about 3 weeks ago because I was paying £12.95 a month for the privilege of having it as I used none of the benefits and the manager did ask me then if my account was suffice for what I used it for (ie. numerous PayPal transactions etc. etc.) but that was 3 weeks ago now (6th Feb).

I can't think of anything else other than this but I am of course worried because I have no access to any money and whilst I am due to be paid tomorrow, I won't be able to get the money.

Can a bank freeze your account if you owe money to another creditor?

And how long does it usually take for these matters to be sorted out?

Thanks

lovinituk

benog1985 wrote: »

And how long does it usually take for these matters to be sorted out?

Thanks

How long is a piece of string?! This is what I was trying to get across to the other poster - no-one here knows any details or what the investigation is about. With the greatest of respect we don't anything about you either. It could be related to something you have done that you have not shared with us or it could be that someone has stolen your identity for example and caused problems. No one here can really help to be honest.

benog1985

lovinituk wrote: »

How long is a piece of string?! This is what I was trying to get across to the other poster - no-one here knows any details or what the investigation is about. With the greatest of respect we don't anything about you either. It could be related to something you have done that you have not shared with us or it could be that someone has stolen your identity for example and caused problems. No one here can really help to be honest.

I appreciate what you're saying, I was just looking for some advice as it is worrying me half to death.

The thing is, if I had done something at least I'd know what was going on but I haven't and it's the not knowing that is most annoying.

Thanks again for your input though.

lovinituk

benog1985 wrote: »

if I had done something at least I'd know what was going on but I haven't and it's the not knowing that is most annoying.

This is what makes me think perhaps it has something to do with stolen identity.

benog1985

But if it was this, wouldn't they tell me that rather than telling me nothing at all?

Also, surely I'd be able to go into branch with ID to withdraw money.