Lloyds account frozen

romeo21 · 13 November 2016 at 9:23PM

Hopfully someone can give me some advice.

I have a Lloyds current account that Iv been using for 6 years and get my monthly salary paid in. I also have a Lloyds savings account with about 60k in it and it's for my deposit for a house I'm going to exchange on in 2 weeks time.

Last Friday I tried to do a transfer via online banking and it wouldn't let me. I then tried to use my card and that wouldn't work either. I call Lloyds and they put me on hold and come back acting really strange and secretive saying my account has a processing delay and they cannot give me anymore info than that.

I then go into the branch and the lady checks the notes and sees that there is a block on my account with the code 657, she looks through my account and says it looks ok then calls thought to another team.

Again she pauses then acts strange then says they are saying that there is a process delay and you cannot use your account. They won't say when or if it will get resolved so until then I can't access my funds.

Does anyone know what could be going on as I have no access to my money and they have blocked money from going in and out of my account.

DCFC79 · 13 November 2016 at 9:41PM

Any payments being paid into your account ?

Any bitcoin payments either in or out ?

romeo21 · 13 November 2016 at 9:56PM

DCFC79 wrote: »

Any payments being paid into your account ?

Any bitcoin payments either in or out ?

Iv only transfered money from my savings accounts to my current accounts a few times last week.

No bitcoins

GingerBob_3 · 13 November 2016 at 9:57PM

The banks really are taking the p1ss with this sort of stuff. Time and again on this board we see people suddenly facing the major problem of a frozen bank account for no apparent reason, and with little or no help given by the bank in question. It's MLP big time and it needs to stop. I'd rather see the odd money launderer get through the system than innocent people having to put up with this sort of stuff from the banks.

OP - unfortunately no one will be able to help on here, other than to offer the usual excuses on behalf of the bank.

BTW: bitcoin trading is not illegal. And you better check they haven't black listed you at CIFAS or elsewhere - they won't tell you if they have.

When you finally get sorted out, go and see your MP and explain how the banks are making life difficult for people like yourself, due mainly to MLP and their bungling interpretation of the law. Oh, and close your account with Lloyds and bad mouth them to as many people as possible, and write to them to tell them you're doing so; bloody load of gits!

GingerFurball_2 · 13 November 2016 at 10:02PM

Yeah how dare banks comply with the law.

Your gripe is with the legislators.

GingerBob_3 · 13 November 2016 at 10:04PM

GingerFurball wrote: »

Yeah how dare banks comply with the law.

Your gripe is with the legislators.

That's garbage. Their interpretation of the law if found wanting. They apply a 'shoot first, ask questions later (if at all)' policy.

GingerFurball_2 · 13 November 2016 at 10:06PM

GingerBob wrote: »

That's garbage. Their interpretation of the law if found wanting. They apply a 'shoot first, ask questions later (if at all)' policy.

Because of how the law is written. It's a criminal offence to do nothing if you suspect momey laundering is taking place.

Banks 'shoot first and ask questions later' because that is exactly what the law requires you to do. !!!!ing off a few innocent customers is the trade off to getting a massive fine from the regulators.

GingerBob_3 · 13 November 2016 at 10:13PM

GingerFurball wrote: »

Because of how the law is written. It's a criminal offence to do nothing if you suspect momey laundering is taking place.

Banks 'shoot first and ask questions later' because that is exactly what the law requires you to do. !!!!ing off a few innocent customers is the trade off to getting a massive fine from the regulators.

And just what constitutes suspicion? Has it been tightly defined? No. Of course it hasn't, otherwise we wouldn't get cases like this. It's now got to the point that virtually any unusual account activity causes the banks to throw a tantrum and screw over their customers. And it's odds on that this bum policy is actually counterproductive. The real money launderers will avoid the banks like the plague now, even for legal transactions. So they'll be even more remote from detection.

GingerBob_3 · 13 November 2016 at 10:18PM

Yes, suspicious activity again!

https://forums.moneysavingexpert.com/discussion/5556430

Must be money laundering - surely?

Ed-1 · 13 November 2016 at 10:27PM

romeo21 wrote: »

Hopfully someone can give me some advice.

I have a Lloyds current account that Iv been using for 6 years and get my monthly salary paid in. I also have a Lloyds savings account with about 60k in it and it's for my deposit for a house I'm going to exchange on in 2 weeks time.

Last Friday I tried to do a transfer via online banking and it wouldn't let me. I then tried to use my card and that wouldn't work either. I call Lloyds and they put me on hold and come back acting really strange and secretive saying my account has a processing delay and they cannot give me anymore info than that.

I then go into the branch and the lady checks the notes and sees that there is a block on my account with the code 657, she looks through my account and says it looks ok then calls thought to another team.

Again she pauses then acts strange then says they are saying that there is a process delay and you cannot use your account. They won't say when or if it will get resolved so until then I can't access my funds.

Does anyone know what could be going on as I have no access to my money and they have blocked money from going in and out of my account.

A 657 indicator is Account Quality Checking Unit - Account Transactions Prohibited.

From that it looks like they're looking into transactions on the account (AML).

Shakin_Steve · 13 November 2016 at 10:29PM

I do hope that people who defend this kind of action from a bank are just as magnanimous when it happens to them. The way that they treat long-standing customers with complete disregard for their feelings is nothing short of disgusting. Of course, threatening to move your account once it's all sorted out will not make any difference at all, because they will collect a new customer from another, equally appalling bank.