Santander Froze My Account after transferring money it's been 15 days

Bridlington1

addo16 said:

Makes sense section 62 

It's not frequent but there are some.. 

How long do I vestigations normally take.. my kids got to eat man 

Investigations can be over within a couple of hours, but can go on months and can result in the account being closed. It's luck of the draw. If I were you I'd try getting a credit card for now if you can and use that for food etc. Most credit cards come with a 40-60 day interest free period so will offer some considerable breathing space.

If not, have you had a switching incentive from Halifax since April 2020? If you haven't, open a spare current account that's not with Santander or Halifax, quickly set up 2 DDs and switch it to Halifax. They'll give you an interest free overdraft for the next 6 months as well as £150.

Section62

Bridlington1 said:

If not, have you had a switching incentive from Halifax since April 2020? If you haven't, open a spare current account that's not with Santander or Halifax, quickly set up 2 DDs and switch it to Halifax. They'll give you an interest free overdraft for the next 6 months as well as £150.

Opening an additional account elsewhere might make sense - in case both the Santander and Halifax accounts are closed.

But I don't think it would be wise in the OP's position to start opening accounts and switching them immediately.  This may just look like more potentially suspicious behaviour (in the bank's eyes).  And switching to Halifax won't help if Halifax did decide to close the OP's existing account.

Marchitiello

The amount involved is not in itself a big amount in general but could have triggered the fraud investigation as it could have been an unusual large amount compared to the history of that account. I regularly move 4-5 digits amounts in and out of my Santander, and never got questioned.  I did get questioned in the past by Lloyds when I started finally properly using an account I had opened in the late 90’s but only ever used to move lower amounts to keep it alive. The moment that I upgraded it to Club Lloyds and start circulating into it most of my income, I got a call to be asked a number of questions, confirmed my income and was actually “upgraded” to be assigned a personal relationship manager. 

addo16

18 days and Counting..

This is so ridiculous having to cancel things and can't do so much its mentally draining and causes endless amount of stress and problems surely there has to be something that can be done.. 

addo16

Ultimately what is the worst case scenario they close my account.

Do I still get my money iv worked blood sweat and tears to save this money and they are stopping me
Using it because I transfered it between my accou ts I'm confused 

[Deleted User]

Yes, as long as they deem the funds legitimate.

addo16

And if the didn't deem them legitimate

grumbler

Then they will pass the case to authorities, I guess. And, I think, even authorities will need to get court involved to confiscate anything.

Bridlington1

It's highly unlikely that your funds will be confiscated. As long as you've earned your money legally the investigations will show this.

At the moment the reasonable worst case scenario is that Santander will close your accounts in a couple of months and you'll receive a cheque for the account balance. At best they'll unfreeze your accounts at any minute and you'll receive a letter within the next week telling you that all restrictions on your account have now been lifted.

phillw

You haven't said what the total value was, but £8000 arriving in your account is not a big deal.

Have you told them "I want to make a complaint".