Natwest blocked my account without explanation

meer53

asd1 wrote: »

based on my experience with the crooked Nat West the law protects the bank against such liability even if they made an error as they don't have to explain themselves. I've asked my MP Douglas Alexander to write to the body concerned with devising bank regulations asking that the rules be changed. After 3 emails still no reply from him. The lazy so and so. I was Labour but now will be SNP

Good luck with that !

giblet10

Get your head around this and you'll relax: nobody, but nobody, can demand any UK bank be open and honest. When your account is frozen, it's done by a socially-inept 5ft man in a room with no light who himself has been brought up in the dark. He has never seen the light of day. He doesn't have time for you, politicians, law makers or MP's. He certainly doesn't have to respond to anyone but his PC.

You mean nothing.

When it comes to closing or freezing accounts, the bank makes the rules and is supported by its bed fellow, the other cagey lawless organisation known as CIFAS.

Objection is futile. Give up now.

innovate

grumbler wrote: »

Very strange attitude. FOS don't make laws, they just follow them.
So, even if the law is wrong, does everyone have to keep silence regardless?

Most our top politicians, including those who make laws, seem to live on some other planet. They are professional politicians and know very little about life of ordinary people (e.g. with one bank account). David Cameron has no idea of the bread price. Boris Jonson has no idea of the milk price. Etc, etc.

I know that the FOS doesn't make laws, and I haven't said they do.

I don't know what David Cameron's and Boris Johnson's knowledge of food prices has got to do with AML legislation and banks suspending current accounts but would bet that
asd1 won't get any law changed - not least because he/she doesn't even seem to know which law should be changed, and why.

grumbler

innovate wrote: »

I know that the FOS doesn't make laws, and I haven't said they do.

Yes, but neither had the OP said that "the body concerned" that could change the rules was FOS.

I don't know what David Cameron's and Boris Johnson's knowledge of food prices has got to do with AML legislation

AML legislation was developed and passed by people that have similar knowledge of the life of ordinary people that this legislation ultimately affects.

and banks suspending current accounts but would bet that
asd1 won't get any law changed

The topic was not about the probability of this happening.

- not least because he/she doesn't even seem to know which law should be changed,

It was his MP's job to know this.

and why.

Because ordinary people like the OP suffer from ill-considered law passed by people living on some other planet. A feedback from ordinary people is the only way for them to realise their mistakes and to correct them.

Frozen_Out

Yes, it seems lots of us have had similar problems. Which, having just found this out after weeks of sleepless nights, I now find slightly reassuring.
(If you search 'Banks freezing out innocent customers' you will find plenty!).

I am just entering week 8 of a block on my Barclays account which I have had for about 40 years. They didn't even notify me that they had done this. Just left me to find out when my card was 'declined' for a low value purchase at the supermarket. I then tried to log in to online banking, but was unable to. Then spent hours on the phone to their 'help' (NOT!) desk, and in my branch, all to no avail.
To date, they have told me nothing except that my account is 'under review'.
Timescale? No, there isn't one; "it will take as long as it takes" said my bank group manager.
They are paying my direct debits still, but will only allow limited withdrawals. Even paying money IN is difficult.
At the moment this is my only account, but I am attempting to change that though not convinced that will work.
I have very little income, and can't even get my hands on that. I have some money invested, but the only way to access that is via my (now useless) bank account.
I never have much money in my account, so if they really think that I 'look like a money launderer / terrorism financier' ... then I feel sorry for those guys. Times must be really hard in the laundry business!
The argument that they can say nothing to avoid 'tipping off criminals' is utterly preposterous. Any 'self respecting criminal' would immediately 'smell a rat' if their account was 'frozen' like this, and immediately start to try to cover their tracks.
Until today I had no idea about this legislation, so will certainly be joining the merry throng in writing to my MP about what joy he has created for us innocent victims.
Suffice to say I shall be keeping as much cash as possible under the mattress in future.
Thanks Barclays / whichever government thought this stupid law was a good idea!

WelshPaul

Never put all your eggs in one basket! I have a second current account just in case anything happens with my primary current account such as experienced by the OP.

I also have a grand sitting in it to cover any emergency period where I might not be able to gain access to my primary account.

CKhalvashi

BillJones wrote: »

Are you serious, fluffy pillows? HSBC was fined billions for having insufficiently robust checks against laundering. If you believe that they can just ramp up costs to cover this, then why were they not running the costs at the higher rate in the first place?

And yet they still picked up that I've made 3 payments from my account, and this flagged up as suspicious as they were abroad (even though I've told them this and it's on the screen on IB)

Annoying? Yes.
For my own protection? Also yes. At least they let the transaction go through, as I don't have any RUB here, as was required for the transaction.

Their computers weren't to know I'd be in a border town when a payment was made, and IMO, it could mean that my card was on the way out the country, as there is no C&P here.

CK

BillJones

giblet10 wrote: »

Get your head around this and you'll relax: nobody, but nobody, can demand any UK bank be open and honest. When your account is frozen, it's done by a socially-inept 5ft man in a room with no light who himself has been brought up in the dark.

What a weird post. Bank staff go off to work in their job each day just like anyone else does*. They've neighbours, schoolfriends, acquaintances and soon, just like you do ,and are no more likely than the general public to be "socially inept" or short.

dr_adidas01

BillJones wrote: »

What a weird post. Bank staff go off to work in their job each day just like anyone else does*. They've neighbours, schoolfriends, acquaintances and soon, just like you do ,and are no more likely than the general public to be "socially inept" or short.

I'm not to sure about that I've found quite a few bank staff to be "socially inept and short"

These days there more interested in selling products customers don't want or generally don't need, rather than helping them with their problems.

WelshPaul

dr_adidas01 wrote: »

I'm not to sure about that I've found quite a few bank staff to be "socially inept and short"

These days there more interested in selling products customers don't want or generally don't need, rather than helping them with their problems.

I agree totally with this ^^^^