Santander blocked account- help!

boo_star

xlnc99 wrote: »

Instead of going back and forth on the ML discussion,

If everything is as you have explained at the OP then there is no reason at all the bank should hold on to your money for more then 24 hours. Its quite a simple explanation and a very simple money trail for the bank to follow.

If they are still holding on to the funds until now then its clear you have omitted some details

Not really.

If money laundering is suspected then the bank need to get a green light from the NCA to release the funds once checks have been done. Although "simple" in this case they're (the NCA) not particularly quick at doing this as far as I'm aware.

xlnc99

Back to my previous post - If they are still holding on to the funds then its clear some details are missing

The bank are not going to hold on to funds just because a large transaction was made. If all legit then that can easily be sorted out with 24 hours. Ive had experiences of this myself. This can easily be sorted out if what the OP says happened.

But given they are holding on to the funds then we are missing some important details because there is zero chance a bank will not be releasing funds for 24 maybe 48 hours at most if its as simple case of loan from marks spencers transfer to one bank then transfer to another

boo_star

xlnc99 wrote: »

Back to my previous post - If they are still holding on to the funds then its clear some details are missing

The bank are not going to hold on to funds just because a large transaction was made. If all legit then that can easily be sorted out with 24 hours. Ive had experiences of this myself. This can easily be sorted out if what the OP says happened.

But given they are holding on to the funds then we are missing some important details because there is zero chance a bank will not be releasing funds for 24 maybe 48 hours at most if its as simple case of loan from marks spencers transfer to one bank then transfer to another

They've already said that they suspected money laundering.

Mozart33

So the guys investigating, I assume, don’t know this was mentioned in the branch and now I’m thinking when he spoke to complaints, when they rang him, should have told them.. We’ve decided to wait until the end of the week and then will write a formal complaint and definitely mention that. I’m pretty sure the poor lady could get in trouble (although I don’t wish that upon her).

Mozart33

How do you know which one you are in the queue though.. I’ve read about cases here that took weeks...

meer53

Mozart33 wrote: »

How do you know which one you are in the queue though.. I’ve read about cases here that took weeks...

If they're investigating the transfer for AML purposes, there is no timescale. The bank can take as long as they wish. Even the FOS won't be able to speed it up.

OceanSound

Unless bank has screwed up and incorrectly flagged account/transfer.

boo_star

OceanSound wrote: »

Unless bank has screwed up and incorrectly flagged account/transfer.

I'm not sure how you'd prove that. Bank employees are required to report on suspicion. That's all they're doing in this case from what I can see.

OceanSound

Proof is in the pudding. Transfer from husband to wife. Proof of loan contract provided to bank. Hardly takes a genius to work out the bank is stalling.

boo_star

OceanSound wrote: »

Proof is in the pudding. Transfer from husband to wife. Proof of loan contract provided to bank. Hardly takes a genious to work out the bank is stalling.

That's not how ML reports work though.