Legal Advice Needed Bank Account Blocked

Zkr65

Yes, the FOS allow the provider 56 days from the day the complaint was logged, in that time they must of contacted you, and the 56 days is for them to reach a 'final resolution' not 56 days just to get back to you.

The companies will have their own internal complaints procedure.. most financial institutions have a 48hr timescale to 'contact the member to notify them of the receipt of complaint' and most will try and resolve it in that time, if it's more complex, then 5 business days is the standard.

Chase it up with the company, a formally registered complaint should have a reference number or case number which they will provide.. also make sure your contact details are up to date with the provider.

There is another alternative which is often overlooked.. under the Data Protection Act you are entitled to request the company sends you a copy of every bit of data they hold on you, from the main account details down to the comments advisers leave on your profile.

It's not a commonly practiced right, sometimes involves a small fee and can take up to 40 day to be dealt with, but the company would be obliged to send it.

You need to state under Data Protection act I request a copy of any and all information you hold on me in computer or manual form.

A slightly different approach, but you'll see from the data they send what had caused the freeze and it'll get the company sweating..

magpiecottage

A complaint to the bank that it has blocked the account and is adversely affecting your business - for which you want compensation - is a good start.

Assuming you are a "microenterpise" - i.e. you have less than ten employees (including yourself), turnover of less than the sterling equivalent of €2 million and assets of less than €2 million then you can take your complaint to FOS.

grumbler is not quite correct. The 8 week rule is a cut off point after which a complaint can go to FOS whether resolved or not.


However, this is not to do with FOS it is within the DISP rules of the FCA which also say that complaints must be assessed promptly.

Whilst in some cases there is considerable complexity (and in the case of PPI the workloads are causing problems) to wait seven weeks and six days to uphold a complaint which it should have been obvious needed to be within seven minutes and six seconds is not a prompt response

So put the complaint in - you are at least more likely to get the engine driver instead of the oily rag looking at it.

ChrisVonae wrote: »

There is another alternative which is often overlooked.. under the Data Protection Act you are entitled to request the company sends you a copy of every bit of data they hold on you, from the main account details down to the comments advisers leave on your profile.

It's not a commonly practiced right, sometimes involves a small fee and can take up to 40 day to be dealt with, but the company would be obliged to send it.

You need to state under Data Protection act I request a copy of any and all information you hold on me in computer or manual form.

A slightly different approach, but you'll see from the data they send what had caused the freeze and it'll get the company sweating..

Probably not worh doing as it adds up to another 40 days to getting a resolution. Besides, this is a business account, not a personal one so there would be no personal data.

In addition, if it IS to do with money laundering then the requirement to avoid tipping off would exempt it.

meer53

"A slightly different approach, but you'll see from the data they send what had caused the freeze and it'll get the company sweating"..

If the account has been frozen under AML regulations the OP won't see anything as this would be classed as tipping off.

ChrisVonae - as you work for Nationwide, i'd be careful about what you post. I work for a bank and my employment contract has a clause in it about discussing work on Social Media sites. As your advice isn't correct, you might find yourself in bother. Not criticising, just wanting to stop you getting into trouble. Might be a bit late now but unless Nationwide have authorised you to post on this forum, i'd remove your signature if i were you.

Zkr65

magpiecottage wrote: »

A complaint to the bank that it has blocked the account and is adversely affecting your business - for which you want compensation - is a good start.

Assuming you are a "microenterpise" - i.e. you have less than ten employees (including yourself), turnover of less than the sterling equivalent of €2 million and assets of less than €2 million then you can take your complaint to FOS.

grumbler is not quite correct. The 8 week rule is a cut off point after which a complaint can go to FOS whether resolved or not.


However, this is not to do with FOS it is within the DISP rules of the FCA which also say that complaints must be assessed promptly.

Whilst in some cases there is considerable complexity (and in the case of PPI the workloads are causing problems) to wait seven weeks and six days to uphold a complaint which it should have been obvious needed to be within seven minutes and six seconds is not a prompt response

So put the complaint in - you are at least more likely to get the engine driver instead of the oily rag looking at it.




Probably not worh doing as it adds up to another 40 days to getting a resolution. Besides, this is a business account, not a personal one so there would be no personal data.

In addition, if it IS to do with money laundering then the requirement to avoid tipping off would exempt it.

Wise words MC, a Data Controller can refuse full details if part of an investigation, but often you will see comments unwittingly left on the accounts, whether it's a business account or not you can still access the data held as long as you are a main holder. It's by no means a quick or easy resolution.. however it can add a little motivation to a provider to resolve the issue rather than compiling and issuing the data.. Particularly as even a personal comment from an adviser left on the profile of "Guy called in, didn't know what he was talking about.. or called in, think he was drunk" any personal observations from an adviser can result in serious comp being paid, so companies avoid it at all costs.. so making the request or hinting at the request may raise the complaint on the providers priority list.. plus, it's mildly amusing to see everything they have on you..

But yes, chasing the complaint with provider is the way to go, taking names and ref/case numbers.. agreed

Zkr65

meer53 wrote: »

"A slightly different approach, but you'll see from the data they send what had caused the freeze and it'll get the company sweating"..

If the account has been frozen under AML regulations the OP won't see anything as this would be classed as tipping off.

ChrisVonae - as you work for Nationwide, i'd be careful about what you post. I work for a bank and my employment contract has a clause in it about discussing work on Social Media sites. As your advice isn't correct, you might find yourself in bother. Not criticising, just wanting to stop you getting into trouble. Might be a bit late now but unless Nationwide have authorised you to post on this forum, i'd remove your signature if i were you.

My signature exists to clarify that I do not speak on behalf of my employer in any way, my posts are of a personal nature.. that much legally is clear.

I did not state that it would be an instant solution, as every scenario varies.. and yes, it would count as tipping off. However, making the request can nudge a company into resolving the issue.. and if it's not to do with ML, Fraud or Serious Crime.. a data request in an option available that may help. A data request was a side issue, the complaints procedure was the main focus.

As far as I can see.. my information was correct.

When OP is completely in the dark about the process, to the point of lawyers.. any possible other angles must be explored.. if they refuse the request, then you know why. I fail to see what harm it would cause.

Thrugelmir

ross14 wrote: »

My legal advisor and accountant have also had a look over my bank account and they can see no reason for any of this to have happened.

In what way did they overlook your account?

grumbler

Thrugelmir wrote: »

In what way did they overlook your account?

:huh:....................

meer53

"As far as I can see.. my information was correct"

The bit that was incorrect was the bit about finding out from the Data request why the freeze had been applied. This would never be divulged.

Zkr65

meer53 wrote: »

"As far as I can see.. my information was correct"

The bit that was incorrect was the bit about finding out from the Data request why the freeze had been applied. This would never be divulged.

If it was a freeze based on an address no trace.. or court order.. or due to account T&Cs.. or system error etc then it would..

As aforementioned, this was simply a secondary option which may (or may not) assist.. where you are totally in the dark, any option other than the legal money drain is worth consideration..

It's interesting that MSE users spend more time attempting to pick holes in other peoples suggestions, than actually providing any guidance.

I outlined the normal procedure via complaint, offered that as an out of the box alternative.. yet despite trying to help I get all this?

Everyone seems to be assuming it's money laundering, fraud etc.. whereas it can be a multitude of various things on which information can be obtained.

Not sure why I bother sometimes.

Thrugelmir

grumbler wrote: »

:huh:....................

I doubt the reason is going to apparent to casual observers. Very quick to consult advisers as well...........