HELP!! Bank withholding money

nats78

Hi
I am posting for a friend who played an online gambling site and won £600.
She banked the money and was expecting it 5-7 days later. After 10 days she contacted the bank and was told that the funds were received but it has been flagged up by SWIFT so she would be sent some forms to sign to say that there r are no suspicious circumstances and they would release the money within 5 days.
That was 5/6 weeks ago and they still haven't released them!
They are saying they are still investigating. But won't tell her anymore information.
Are the bank allowed to do this?
What Are the steps they have to follow?
Is there something she can do?

grumbler

nats78 wrote: »

Are the bank allowed to do this?

Stupid ill-thought AML regulations allow them to do pretty much anything they want.

What Are the steps they have to follow?

• Internal complaint, then FOS.
• Letter Before Action, then Small Claims Court

The second option is faster, so it would be my personal choice.

colsten

What is the name of the gambling website?

nats78

It was Costa bingo

GingerBob_3

When you get your money close the account, and tell them in no uncertain terms why you're doing so. B***rds!

ChiefGrasscutter

grumbler wrote: »

Stupid ill-thought AML regulations allow them to do pretty much anything they want.

• Internal complaint, then FOS.
• Letter Before Action, then Small Claims Court

The second option is faster, so it would be my personal choice.

the second option will be thrown out by the court if you have not gone all the way though the regulation complaints proceedure of the bank and the FOS and reached no 'agreement'.

Double_V

Not for this long, I don't think they can do this.
As mentioned, second option and get on with the letter.
Once paid, close the account with that bank, they don't deserve you as a customer and your money.

ChiefGrasscutter

The bank has 8 weeks to resolve a complaint.
If you have failed after the 8 weeks (or the bank has issued a deadlock letter prior) to come to an agreement THEN you can go to the FOS.

Edit - the 8 weeks is from the date of the complaint - not from the date of the issue arising.

grumbler

ChiefGrasscutter wrote: »

the second option will be thrown out by the court if you have not gone all the way though the regulation complaints proceedure of the bank and the FOS and reached no 'agreement'.

Any facts proving that one can't go to a court without going to FOS first?

ChiefGrasscutter wrote: »

The bank has 8 weeks to resolve a complaint.
If you have failed after the 8 weeks (or the bank has issued a deadlock letter prior) to come to an agreement THEN you can go to the FOS.

Edit - the 8 weeks is from the date of the complaint - not from the date of the issue arising.

8 weeks are set by the FOS.
There is no any strict timeframe for a LBA. It's just 'reasonable' time, and 8 weeks is not reasonable IMO, especially after dragging their feet for 5/6 weeks.

ChiefGrasscutter

Try this @Grumbler from no better authority than citizens advice....

https://www.citizensadvice.org.uk/consumer/taking-action-about-consumer-problems/legal-action/settling-out-of-court/using-alternative-dispute-resolution-adr/

(Edit - you need to cut and paste link into a new tab on my browser - clicking the link seems not to work!)

You are expected by the court to have used the relevant regulated industry ADR scheme (FOS for financial matters prior to taking court action)

You can certainly go to court if you want to prior - but don't expect to get very far -particularly if you cannot explain to the court why you are not willing to use the FOS.

grumbler

Your link doesn't work for me, and CAB isn't a very reliable source IMO, but possibly you are right.

That said, in this case I can easily explain the court that that I am not willing to use FOS because it's 100% unreasonable after waiting for 5/6 weeks for my money to spend 8 more weeks on waiting and then even longer (unknown time) while FOS make their mind.

It's far more reasonable to give the bank 1-2 weeks to release the money or face legal actions otherwise.