Santander blocked my account

jaypers

How was the deposit made, externally or a transfer from one of your other accounts? 

Ayr_Rage

jaypers said:

How was the deposit made, externally or a transfer from one of your other accounts? 

The OP said the insurance company paid the funds into the account, so a payment from an unusual source.

Swipe

It wouldn't be so bad if they unlocked the accounts as soon as they received the proof of funds but they dawdle and it ends up taking days or weeks instead of hours.

badmemory

Interesting that a bank doesn't recognise that a payment has come from an insurance company though.  I would have expected that to be less of a problem than from another bank.

jaypers

These things are usually based on AML rules/suspicion and I guess the algorithm picks up on behaviour patterns. I regularly move money in the thousands in and out of my Santander account and so far not had an issue. Source is always from my primary non-Santander account, where my income is paid and most of my savings accounts are linked to. Something weird must have triggered this……perhaps an unexpected deposit from a source they don’t recognise? Hope it’s sorted soon for the OP. 

grumbler

tracy1624 said:

... have no access to my money and now my wages etc have all gone in ...

Normally, they have to allow withdrawing wages over a counter in a branch. Complain if they don't.

MattMattMattUK

grumbler said:

tracy1624 said:

... have no access to my money and now my wages etc have all gone in ...

Normally, they have to allow withdrawing wages over a counter in a branch. Complain if they don't.

All direct debits, standing orders and cpa transactions go through as well, so it should not result in missed mortgage/bill payments. 

dunstonh

I explained and told frankly as far as I am concerned it’s none of your business.

It is their business.   And the more defensive or obstructive you are, the worse it can be for you as it appears you have something to hide and they may go off and do enhanced checks.

Now you have provided evidence, it should be ok within a few days unless your attitude to them would the person up and they have decided to dig deeper.

My mum who had £60,000 put in her account from an inheritance last year had no issue and daughter who received her settlement from an RTA didn’t have a problem and she is a student and no flag on £25000.  

inheritances are easier to find electronically.   The software we use can pick up inheritances.

Interesting that a bank doesn't recognise that a payment has come from an insurance company though.  I would have expected that to be less of a problem than from another bank.

Actually, payments from insurance companies are one of the most common methods of ML.    Especially payments of over £2000 and less than £10,000.      Insurance product brought on a single premium basis using dirty money and then cancelled/surrendered resulting in what would appear to be a nice clean insurance company payment.

400ixl

There will not be anything you can do about the amount of time it will take to the investigation to complete, and they will not give you any updates on that as they are not allowed to. Saying none of your business to a banking anti fraud team is never a good idea, no matter how frustrating, it can trigger all sorts of additional checks if the person on the other end does not take it as just a frustrated comment.

As mentioned above, no direct debits should bounce as there are funds in the account, and you should be allowed to withdraw funds from you normal balance through a branch. This should get you over the immediate issue hopefully and allow you to relax and enjoy Christmas.

Personally I wouldn't have even made my child aware of the issue if there was any chance they were going to blame themselves and stress over it.

As a protection against future issues, as the laws are only going to get tighter not looser (although technology should help limit the triggers) it really is worth having a second account where you can access money if you need it.

tracy1624

The investigation has now been sorted but I was told today that Cifas have informed them of some issues on my information and someone else, I guessing my husband and unless I can have the marker removed my account will be closed in 60 days.  I now cannot go online to look at my account or my direct debits or anything.

The woman said the block would be lifted and I could go online to remove any money I wish too.  

I am not sure what these markers are and have never heard of Cifas until today.  Yes, I have brought cyprocurrency but I was scammed.

We were bankrupt 17 years ago but otherwise I have no idea what the problem can be.  Could I get some advice?