Yorkshire Building Society not giving me access to my own money - what can I do pls?

Pkhan

I have been using Yorkshire Building Society to save money for a long time, in an instant access account.

I tried to withdraw a large sum of money from my account a week ago. It was for an important purchase, a property.

To cut a very long story short, Yorkshire Building Society have had (yet more) technical issues, not just with my account but with other customers, and so my money has not been paid to the beneficiary. They did not even inform me about this, and it's only when I and my solicitor spent hours digging around and calling Yorkshire Building Society repeatedly that they admitted that there was problems with their systems.

I have telephoned and emailed Yorkshire Building Society over 20 times, and gone to their branch. I keep emphasising to them how urgently I need access to my money, but none of their staff are being helpful: quite frankly, they can't be bothered to make a serious effort to resolve the situation. All they are saying is that they have technical issues and it's being worked on.

I have lodged formal complaints, even said I will contact the press etc. but the staff are not showing any interest to resolve the issue. They are not even giving me any indication of when my payment may be made; therefore it could take weeks to get access to my own money.

The staff don't even call me when they promise to and keep messing me about (I'm currently waiting on four people to ring me, not one of whom has done so).

They won't let me speak to anybody senior at Yorkshire Building Society.

With any other bank I've used, a payment of this nature would have been paid in one hour through the Faster Payment Systems. Yet, after a week of contacting Yorkshire Building Society repeatedly and politely asking them to pay my money - even suggesting a few options myself of how they may consider resolving the issue - they are not doing so.

In the meanwhile, my deadline day for the payment has expired and I am grovelling to the property owner to give me another day or two to make the payment. I am now very very close to losing the property, which I have spent months and months working on, as well as my deposit, legal fees etc.

I am so stressed about this situation; I haven't slept for so many nights.

I understand that the Banking Ombudsman can't intervene at this stage. As Yorkshire Building Society are being totally uncooperative, what can I do to get access to my money please? Who can I contact?

Thank you.

P.S. Needless to say, I would advise everyone to stay well clear of Yorkshire Building Society. Despite how they present themselves, they are just a third rate institution based in a backwater location, with the working practices of a ye olde worlde building society. They have have little of the professionalism or procedures of a serious banking institution. For instance, there are regular bugs with their online interface, such as I've never experienced with any of the major financial institutions. I don't wish other people to not have access to their own money, which Yorkshire Building Society is doing to me. They have made my life hell.

Valli

I suggest you keep records of all interactions with all members of staff, logging dates and times of phone calls and visits, to whom you spoke and what was said, in preparation for complaining formally. In the first instance you will need to complain to the YBS; if you are not satisfied with the outcome of their findings you can take you complaint to the Financial Services Ombudsman. You might wish to quantify any financial losses arising from these issues so that you can decide whether or not to accept any financial compensation which may be awarded in the light of your losses and expenses.

pinkshoes

When did you first try and get your money out? i.e. how many days/weeks has it been now?

When do you need the money by?

I think I allowed 14 days when getting my savings from my post office to buy a property!

Computersaysno

Yep...sounds like a Money Laundering freeze on assets

Takes about 3 weeks to either get told what's going on or to get the money released.

Evilm

If it is a money laundering issue they aren't allowed to tell you so or tip you off. I worked as a conveyancing cashier in a solicitors - If we tipped off a client that they were being held for a money laundering investigation we could get a jail sentence - whether that client was laundering or not! Banks will be under the same rules.

shaun_from_Africa

Evilm wrote: »

If it is a money laundering issue they aren't allowed to tell you so or tip you off.

And here is the relevant legislation to back that up.

http://www.legislation.gov.uk/ukpga/2002/29/section/333

333 Tipping off

(1)A person commits an offence if—

(a)he knows or suspects that a disclosure falling within section 337 or 338 has been made, and

(b)he makes a disclosure which is likely to prejudice any investigation which might be conducted following the disclosure referred to in paragraph (a).

So once an authorised section of the government has made a request for financial records relevant to the account or person being investigated, the financial institution are not allowed to inform the account holder of what is happening.

Looksguywalker

ThumbRemote wrote: »

What a load of rubbish. Do you have anything to back up your claims, or are you just a total fantasist?

There you go again. Do I remember you admitting to being a grumpy old man?

ThumbRemote

Looksguywalker wrote: »

There you go again. Do I remember you admitting to being a grumpy old man?

No. Or at least if you do, you've got false memories.