New Post Advanced Search
We are currently experiencing a high volume of spam and have increased the sensitivity of our spam filters. This could mean that genuine posts may get caught. If you believe this has happened to one of your posts, please email the Forum team on [email protected] As always, we are really grateful for your patience whilst we get this sorted - which we'll do as soon as possible.
Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.

Nationwide Blocked funds

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
18 replies 1.2K views
SlippaSlippa Forumite
6 posts
edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
I had recently transferred money online from my nationwide account to a relatives bank account. This was short loan to help them. They eventually transferred me £1000 and change back from their high street branch as they don't do online banking. Nationwide locked my account and blocked all access to my funds a day or two after the transfer, stating the reference number of the transaction appeared suspicious. It was one of the major high street banks done by one of there clerks so I don't get it? They refused to unlock the money in my account until my relative provided them with their bank statement. Even though they were not keen to share their business with a 3rd party they did it for me so that I could get my money and account back. Nationwide said it would take 7 days to sort out. I was frustrated and explained I needed the money asap because it's what I needed to live on as I have no savings. They then said they wanted 3 months of statements so my relative took another bit of time off work so they could get the statements from the bank and resolve my situation faster. We then produced the statements in the nationwide branch, so they could fax it and I'd have proof they received it , we were told it would now take 17 days. Since then it has now become a 30 day review and I am having to rely and borrow of my family so I can eat. I explained the hardship this had put me under to one of their advisers who was patronizing and eventually laughed at me when I explained that "I am not able to cover my rent and other debits and I am falling into debt in the mean time" and "I don't have cattle or grow fruits or vegetables so I have to pay to eat like other people yet you leave me to starve". They have no interest in my well being and have also refuse to downgrade my account on request because I pay fees which they're still entitled to take even though I don't have access to my account. How are they allowed to hold out for so long in this day and age? And to hell with the cashless society if they are allowed to do this kind of thing to people.
«1

Replies

  • _shel_shel Forumite
    3.7K posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    Slippa wrote: »
    I had recently transferred money online from my nationwide account to a relatives bank account. This was short loan to help them. They eventually transferred me £1000 and change back from their high street branch as they don't do online banking. Nationwide locked my account and blocked all access to my funds a day or two after the transfer, stating the reference number of the transaction appeared suspicious. It was one of the major high street banks done by one of there clerks so I don't get it? They refused to unlock the money in my account until my relative provided them with their bank statement. Even though they were not keen to share their business with a 3rd party they did it for me so that I could get my money and account back. Nationwide said it would take 7 days to sort out. I was frustrated and explained I needed the money asap because it's what I needed to live on as I have no savings. They then said they wanted 3 months of statements so my relative took another bit of time off work so they could get the statements from the bank and resolve my situation faster. We then produced the statements in the nationwide branch, so they could fax it and I'd have proof they received it , we were told it would now take 17 days. Since then it has now become a 30 day review and I am having to rely and borrow of my family so I can eat. I explained the hardship this had put me under to one of their advisers who was patronizing and eventually laughed at me when I explained that "I am not able to cover my rent and other debits and I am falling into debt in the mean time" and "I don't have cattle or grow fruits or vegetables so I have to pay to eat like other people yet you leave me to starve". They have no interest in my well being and have also refuse to downgrade my account on request because I pay fees which they're still entitled to take even though I don't have access to my account. How are they allowed to hold out for so long in this day and age? And to hell with the cashless society if they are allowed to do this kind of thing to people.

    Paragraphs are helpful.

    They are allowed to do this under money laundering regulations. In fact they're obliged to do it.
    Don't Buy The S*n
  • In what way am I money laundering?
  • _shel_shel Forumite
    3.7K posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    You might not be but that's what they're checking out.
    Don't Buy The S*n
  • They are saying 30 days minimum before I get any response or action. When we were asked for the bank statements which are a 3rd party source of information for evidence, we supplied that within one hour of each request. Yet it's ok to stall and drag on a genuine transaction for a whole month when they have everything they need to just confirm the transaction. This is disgusting and so is the attitude of their staff who thinks it's funny that someone is struggling to even have the basic need of access to food.
  • eskbankereskbanker Forumite
    15.5K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    Slippa wrote: »
    In what way am I money laundering?
    'Money laundering' is always an emotive term but colsten summed it up nicely to another poster in a recent thread:
    colsten wrote: »
    You appear to be unable to distinguish between
    1. an investigation being automatically triggered under AML obligations
    2. a conclusion that money laundering has actually taken place.

    In the OP's case, 1) above has happened. 2) may, or may not, be concluded once the bank's, and possibly the NCA's, investigation has concluded.
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • 18cc18cc Forumite
    2.1K posts
    ✭✭✭✭
    If everything is as you say then nationwide will unlock your account at some point at which time you can complain to them and ask for compensation - I would ask for £250

    If they dont unlock it then maybe their systems are working and the reference was indeed dodgy in which case you should consider having a word with your relative
  • preablepreable Forumite
    2.1K posts
    Debt-free and Proud! Mortgage-free Glee!
    I doubt the adviser laughed at you somehow
  • zx81zx81 Forumite
    30K posts
    Tenth Anniversary 10,000 Posts Photogenic Name Dropper
    ✭✭✭✭✭
    Slippa wrote: »

    their staff who thinks it's funny that someone is struggling to even have the basic need of access to food.

    I doubt they thought it was funny. It was probably just when you told them that you didn't own any cattle, which is an unusually specific denial.
  • It's ok I'll just starve and die seems like that's the most appropriate outcome here
  • _shel_shel Forumite
    3.7K posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    Slippa wrote: »
    It's ok I'll just starve and die seems like that's the most appropriate outcome here

    Die, not quite. You have absolutely no food in your home? Or can't borrow some money from family to get some?

    I have frozen and cupboard food to last us a few months used wisely!
    Don't Buy The S*n
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support