UK banks: a most unscrupulous situation

Paul_1977

This is a quite ridiculous affair, once they return the money, providing you have not broken any laws or conditions of the bank account then get down to the bank and demand compensation.

meer53

Paul_1977 wrote: »

This is a quite ridiculous affair, once they return the money, providing you have not broken any laws or conditions of the bank account then get down to the bank and demand compensation.

For what ?

Paul_1977

meer53 wrote: »

For what ?

For detaining funds which are rightfully his. He might as well try.

jonesMUFCforever

Paul_1977 wrote: »

This is a quite ridiculous affair, once they return the money, providing you have not broken any laws or conditions of the bank account then get down to the bank and demand compensation.

How many kids of 16 do you know dealing trades up to £40k a day on bitcoins does this not look at all suspicious to you?
There is another thread on here about a father raging at their bank for closing a bank account in his 14 year old son's name for far less transactions than this.

grumbler

Closing is fine.
Detaining legitimate funds for indefinite time isn't.

colsten

It's a bit of a challenge, to put it mildly, to prove the legitimacy of proceeds from Bitcoin dealing, or of funds that just land in your account from - allegedly - unknown sources.

I can't see how a private individual could ever ascertain that these funds have never been laundered and were never involved in criminal activities such as drugs- and/or arms-dealing or terrorist activities. The banks, OTH, have extensive means of identifying accounts that are involved in money laundering. As has been discussed lots of times, it is, for obvious reasons, illegal for banks to share details of their evidence with the account holder concerned.

Given that the OP has mentioned that "somebody attempted to send funds to my account with NatWest without my knowledge", and that this attempt appears to resulted in a blocked account, there is a fair chance that on at least one occasion, the source of the funds was suspicious.

I suppose if the OP had declared their profits to the HMRC, and paid any CGT that might have become due, it would, whilst not providing prove of, have substantially helped in proving the legitimacy of the funds.

If the OP is certain that their funds were legitimate and all the banks mentioned were treating him unfairly, he can take his complaint to the FOS and/or to a Court.

I must say, if I was in this situation, the last place to look for help would be some internet forum that I have to sign up to first. I'd probably have sought help from my cyber-currency trading mates, and I would most certainly not have let the whole situation drag on for months, which the OP has done. I'd be straight on to my Solicitor.

I am afraid, the entire story stinks.