Business Bank Account Frozen (whilst under review) yes a real one !

BrownTrout

Had a message from bank to say they have have frozen account as they were reviewing after a transaction came to their attention
Now this customer wanted a refund (less then £20), offered to return funds immediately but refused to give bank info and wanted a cheque (we dont use them!)
That was the end i heard of until Sunday when bank said account was under review
I sent company info, where we advertise and the WhatsApp conversation
Bank account unfrozen and back to normal within 2 days, so no complaints about this
I did have two payments going for money from card payments and gateway provider now has new bank account details for this so again no issue
I am wondering is it sensible to keep one account solely for customer payments and the other account for payments from the payment services provider?, luckily didn't have a huge amount and apart from the bounced payments no real issue but its got me thinking it might be sensible to split the two payments going forward?

jsmith9

There is no problem doing this if it gives you peace of mind, although of course you should have the two accounts at different banking institutions. Would you end up paying two sets of banking fees?

Other areas do this - I am thinking of ebay sellers who have two accounts, one for their sales and one which they use to buy things with.

BrownTrout

jsmith9 said:

There is no problem doing this if it gives you peace of mind, although of course you should have the two accounts at different banking institutions. Would you end up paying two sets of banking fees?

Other areas do this - I am thinking of ebay sellers who have two accounts, one for their sales and one which they use to buy things with.

both are fee free
One monzo, one starling, when it happened I panicked and was really annoyed and thought thats this money gone for a while

BrownTrout

Can i ask for those in the banking sector, is it normal for someone to be able to complain about a transaction to their bank about such a payment or is the payment itself likely to have triggered the review?

DCFC79

BrownTrout said:

Can i ask for those in the banking sector, is it normal for someone to be able to complain about a transaction to their bank about such a payment or is the payment itself likely to have triggered the review?

Yes its possible going by some of the posts on here.

The amount wasn't the issue but it was the customer phoning the bank about it.

BrownTrout

DCFC79 said:

BrownTrout said:

Can i ask for those in the banking sector, is it normal for someone to be able to complain about a transaction to their bank about such a payment or is the payment itself likely to have triggered the review?

Yes its possible going by some of the posts on here.

The amount wasn't the issue but it was the customer phoning the bank about it.

yes that was my thinking , think they were paranoid about giving their bank details out for a refund! odd.

jonesMUFCforever

How did they pay you originally?

BrownTrout

jonesMUFCforever said:

How did they pay you originally?

Bank Transfer, with monzo you see the incoming payee details, but with Starling you dont get that, when i needed to return a payment to a missing customer ages ago , i contacted Starling and they said "we cant provide that info"

Thrugelmir

BrownTrout said:

Now this customer wanted a refund (less then £20), offered to return funds immediately but refused to give bank info and wanted a cheque (we dont use them!)

Sounds as if the customer was up to something. 

rachelheels

Monzo have Monzo have form for closing accounts for no reason, personal and business. They hold the money for weeks. Look on Facebook there is a group full of people it’s happened to