Santander blocked my account without any reason

Malthusian

aaj123 said:

Global reserve currencies soon will stop being fiat that allows someone's wealth to be 'switched off'. Are there ways to hold and transfer wealth conveniently without depending on a third party? Sure there are.

Run along crypto bro, this is a grown-up problem involving a real person being denied access to real money. Keep it in the Bitcoin thread. The OP has enough problems without having their thread derailed.

Futuristic said:

Apart from trying to make another new complaint and then escalating to FOS there's nothing OP can really do.

The OP doesn't need to make a new complaint - according to post #3 they already made a formal complaint and their next step is to take that one to the FOS. The block happed in April so they are still within the six month deadline that started ticking when Santander issued their final response. 

a7ash said:

i had a shade over 85K. Why would this cause a problem ? These were my genuine savings.

Also does anyone know a good lawyer ot firm to deal with things like these ?

As someone else said, the £85k was a reference to the FSCS limit. You have other bank accounts still open which suggests you aren't having to live cash-in-hand. It is very unusual to have accounts blocked for this long. You could have split the money between two accounts and had them both blocked. You can't legislate for everything. 
Filling in an FOS form is very straightforward, you do not need a lawyer. Do not use a claims management company, it will reduce your odds of success and you would have to pay them an obscene percentage of your compensation if you won.

eskbanker

Perhaps worth bearing in mind the limitations of what FOS can and can't do.

Their main remit is to validate that institutions have treated customers fairly, which will typically take the form of reviewing an escalated complaint many months after the underlying issue has been resolved, and where banks are blocking accounts and following due process in doing so then this wouldn't typically be upheld as a valid complaint.

However, they may be able to intervene in real time if OP has demonstrated to Santander that they're currently in financial hardship and Santander have then refused to release monthly income payments....

Sea_Shell

I've just seen the following wording on my latest Santander 123 Lite  statement...

"Changes to the terms of your account

From 31 July 2023, we’re updating the General Terms and Conditions and Key Facts Documents for all our current and savings accounts. These include some changes to when we may not make your payments and when we may block or close your account. We’re also making the terms clearer and simpler to read."

I'm assuming they'll be sending an email shortly detailing the changes?

Hmmm ponders...

TheBanker

Sea_Shell said:

I've just seen the following wording on my latest Santander 123 Lite  statement...

"Changes to the terms of your account

From 31 July 2023, we’re updating the General Terms and Conditions and Key Facts Documents for all our current and savings accounts. These include some changes to when we may not make your payments and when we may block or close your account. We’re also making the terms clearer and simpler to read."

I'm assuming they'll be sending an email shortly detailing the changes?

Hmmm ponders...

There's a summary of what's going to change on the first couple of pages of the current T&Cs. Have a look: https://www.santander.co.uk/assets/s3fs-public/AD_documents/current_accounts_and_savings_accounts_general_t_c_ccm_version_core0016may23h_lr.pdf

a7ash

There is unfortunately no update to the situation. My bank accounts with Santander are blocked since 14th April ( There are 3 of them , totally about 86K ). All of this is legally earned, I was just keeping it with Santander due to their high interest rates.

The Bank keeps saying "There is no further information we can provide, and if and when the situation changes, we will get back to you."

I have contacted a law firm which has said - As 42 days have now passed the bank is unlikely to have any lawful authority to freeze your funds absent a court order. We would commence a claim against the Bank by drafting a Letter of Claim. The cost of this is approximately £1,500 plus VAT.

I am really not sure the above would help, but would love to know if if I should go for it.

I have a formal complaint with Santander and have gone to the Financial Ombudsman with that complaint number.

As far as I understand, the bank needs an Account Freezing Order to keep the account suspended beyond 7 days + a further 31 working days, I am way past those deadlines now.

Some other legal firms have said they cant help me until I get an Account Freezing Order, but what would I do if no Account Freezing order is ever sent by Santander ? Also what if they have never filed a Suspicious Account Report ?

My accounts have disappeared from Internet banking.

Is there anything else I can do ?

The UK banking system is supposed to be the best in the world. How can I bring Santander to book here ?

Qyburn

It's said that a bank will never tell a customer why they've blocked their accounts. Would they tell the FOS, not to pass on to the customer but so that the FOS could independently confirm it was for a good reason?

Swipe

If you don't need the money I wouldn't waste £1500 on a legal letter. Just wait, you'll get it back eventually, if, as you say, you haven't been up to no good.

TheBanker

Qyburn said:

It's said that a bank will never tell a customer why they've blocked their accounts. Would they tell the FOS, not to pass on to the customer but so that the FOS could independently confirm it was for a good reason?

Sometimes. If you look at some published FOS decisions they sometimes say they are able to confirm there's a legitimate reason for the account being frozen, but they are unable to say what it is. 

xylophone

How long have you been a customer of Santander?

Before opening the ISA, did you have a current account and a savings account?

How did you fund those accounts originally?

Lomcevak

Swipe said:

If you don't need the money I wouldn't waste £1500 on a legal letter.

Yeah, the banks have more money and more lawyers than you do, you can always find a solicitor to write a letter for you but if Santander feel they're following what they're legally required to do, a letter won't change anything. If you have a decent MP then they may be able to get it escalated, have you tried that?

But as others have said, there's going to be a trigger somewhere. If you're a recent customer, have you supplied everything they asked for? Customer identity verification or source of funds checks are the usual reasons, although the length of time this one has been going on is surprising.