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A major bank has been refusing to let me withdraw £10k of family savings for over one month - Page 2

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A major bank has been refusing to let me withdraw £10k of family savings for over one month

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
76 replies 6.1K views
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  • TigsteroonieTigsteroonie Forumite
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    warby68 wrote: »
    'Family savings' seems an unusual turn of phrase for an account in your name where the funds have come solely from your salary.

    Seriously? I have an account that we call "the family savings" which, as it's accessible from my online banking, is generally funded from my current account where I receive my salary (one salary household). I wouldn't consider that suspicious at all, just a convenience.
    :heartpuls Mrs Marleyboy :heartpuls

    MSE: many of the benefits of a helpful family, without disadvantages like having to compete for the tv remote

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  • BooJewelsBooJewels Forumite
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    meer53 wrote: »
    It's been to the FOS, if it wasn't blocked they would have told the OP so.
    I think he said he'd spoken to the FOS - that doesn't necessarily mean that the case was referred in full to them. I read the comment as a general enquiry about whether banks can do that sort of thing.
    Online access can be suspended for a number of reasons quite separate from access to the account itself.
    Indeed - a family member rang me some time ago as they couldn't get access to their on-line account and thought they were doing something wrong, so having coached them through things to try to ensure they had their password correct etc. I told them to give it a while and try again. In the meantime, they got a call about some suspect transactions and they'd locked his entire account to protect it. Although that came to light the same day, not weeks later, as potentially in this case.
  • worried_jimworried_jim
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    Seriously? I have an account that we call "the family savings" which, as it's accessible from my online banking, is generally funded from my current account where I receive my salary (one salary household). I wouldn't consider that suspicious at all, just a convenience.

    Yes, but in the context of the op's issues it sounds a bit dodge.
  • keef-WhatStandardskeef-WhatStandards Forumite
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    I had a similar experience from a building society that took over from an online saver.

    Turns out the online saver was US based and my DOB was transposed incorrectly from the US to the UK system. Month Date Year to Date Month Year.

    FOS were no help, I even sent them a copy of my birth certificate. :(
    Keef - Sheerness, Kent UK
  • warby68warby68 Forumite
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    Seriously? I have an account that we call "the family savings" which, as it's accessible from my online banking, is generally funded from my current account where I receive my salary (one salary household). I wouldn't consider that suspicious at all, just a convenience.

    Agreed but I was looking at this particular context and for clues what might be wrong.
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • warby68warby68 Forumite
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    meer53 wrote: »
    It's been to the FOS, if it wasn't blocked they would have told the OP so.

    I read it that OP made a general enquiry not a full referral at this stage.
  • badger09badger09 Forumite
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    So, a few months ago you were looking at houses and everything was fine with your bank account.

    A month ago (or over a month ago per the thread title) your bank account was frozen.

    Within the last month you decided to buy a house and the purchase is progressing so quickly that you now urgently need money from the frozen account for the deposit or you might lose the house

    Bad timing indeed:cool:.
  • MigsterMigster Forumite
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    One of the things that banks are required to do is to carry out PEP (politically exposed person) and sanctions checks. While these are done at the time of account opening, account holders need to be re-checked from time to time. By the sounds of it, the usage of your account shouldn't be the cause of the problem, so it's possible that you've been flagged erroneously as a PEP or sanctioned individual (I presume by "public sector", you aren't an MP or similar).
  • edited 13 October 2019 at 8:21PM
    worried_jimworried_jim
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    edited 13 October 2019 at 8:21PM
    Migster wrote: »
    One of the things that banks are required to do is to carry out PEP (politically exposed person) and sanctions checks. While these are done at the time of account opening, account holders need to be re-checked from time to time. By the sounds of it, the usage of your account shouldn't be the cause of the problem, so it's possible that you've been flagged erroneously as a PEP or sanctioned individual (I presume by "public sector", you aren't an MP or similar).

    Or from a sanctioned country, Iran, Libya, Burma etc.
  • eskbankereskbanker Forumite
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    Or from a sanctioned county....
    Didn't realise sanctions were applied at that granular a level and so close to home! ;)
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