RBS cubsidiary closed friend's account with no notice.

robatwork

pastysupper wrote: »

Whilst noone at the bank has mentioned the word fraud or CIFAS, going by what I have read on here, I think it is safe to say that's the route this is going down.

The bank staff are trained to specifically not mention the F word - something to do with possibly alerting a fraudster that there is an investigation in progress.

This issue has come up time and again on here - you can search previous "account closed" threads, but sadly posters often don't come back with how the situation was resolved. Perhaps some of them were in fact getting money not in an entirely honest way.

In any case the banks aren't helpful when this happens - your friend should do as suggested - raise a formal complaint and get help from their MP.

Thrugelmir

robatwork wrote: »

your friend should do as suggested - raise a formal complaint and get help from their MP.

More interesting to know why "friends" are transferring money around. Not normal practice for the majority of people.

pastysupper

Hi robatwork, as they have already shut down her account then have they already completed their investigation- or is it guilty until proven innocent? Also, are they legally entitled to hold her funds? I would have thought this could only be done by the authorities, and legally they must return them.

Thrugelmir- totally innocent reason. She met a generous millionaire Asian businessman a couple of years ago while travelling, who has agreed to help fund her expensive education.

gunsandbanjos

Immediate closure tends to happen when there is a strong suspicion/proof of fraud. Otherwise a 60 day closure notice would have been used instead.

A millionaire businessman met on travels sounds dodgy frankly.

Your friend can get her money back IF she can provide satisfactory proof of entitlement to the funds.

Mattygroves2

Which subsidiary is it ?

I'd approach things differently if it is Coutts rather than Drummonds or NatWest.

pastysupper

"Your friend can get her money back IF she can provide satisfactory proof of entitlement to the funds." What do you mean by this? Proof that it wasn't obtained illegally? Surely it isn't up to the bank to hold funds,unless there is a direct instruction from the authorities (i'm not sure which department deals with this)?

gunsandbanjos

pastysupper wrote: »

"Your friend can get her money back IF she can provide satisfactory proof of entitlement to the funds." What do you mean by this? Proof that it wasn't obtained illegally? Surely it isn't up to the bank to hold funds,unless there is a direct instruction from the authorities (i'm not sure which department deals with this)?

Yes proof it wasn't obtained illegally.

Yes banks can hold illegally obtained funds, do you think they should just hand them over to criminals or fraudsters?

stclair

I would just advise your friend to open another account else where.

Im assuming the account closure is due to funds being credited to the account it would have triggered AML checks etc.

If the bank says they are closing an account the decision will be final. If they think its unjust they can raise a compliant however the decision will never be overturned.

Just take the money and run so to speak and what ever you do will not change anything.

societys_child

GingerBob wrote: »

Money Laundering Paranoia knows no bounds. These banks and other financial institutions want sorting out, big time. They suspect money laundering for the flimsiest of reasons, then not satisfied with closing down their relationship with the customer, they then blacklist them on CIFAS.


OP, your friend needs to contact her MP. Sooner or later something has to be done about this issue. The banks are rapidly descending to the level of utility companies - making people's lives up and down the land an absolute misery.

Hugh fines and imprisonment make the banks take it very seriously. Most staff won't be aware of why the account has been frozen and can only speculate. Any staff that do know, ain't going to tell you, 'cos they don't like the threat of porridge for breakfast everyday . . .

Thrugelmir

pastysupper wrote: »

Thrugelmir- totally innocent reason. She met a generous millionaire Asian businessman a couple of years ago while travelling, who has agreed to help fund her expensive education.

Doesn't sound like pocket money then.