Santander causing me huge problems not allowing me access my account

grumbler

Hoenir said:

Section62 said:

eskbanker said:

datz said:

bulldog80 said:

I fully intend to join a new bank after this and pull all my business away from Santander. I’ve never experienced anything like this.

All banks operate in much the same way, and can freeze money and/or accounts for weeks at a time (usually due to ever stricter AML regulations). You will find similar reports from every current account provider, so moving your business from one to another isn't really a 'fix'.

I don't recall any threads about any bank imposing restrictions resulting from an internal transfer between a customer's own accounts, do you have any links to the contrary?

I wonder whether the issue hasn't got anything to do with the number of accounts the OP has, nor the internal transfers, but rather the act of opening an additional new account has triggered some kind of periodic check of activity, which has thrown up something (possibly from long ago) that the system didn't like.

AML software which runs across the databases is extremely sophisticated and joins the dots together. Flagging up cases for indepth investigation. Behave normally and there's rarely an issue.

Define "normally" (and "rarely").

xylophone

https://www.telegraph.co.uk/politics/2019/06/17/banks-freeze-accounts-innocent-customers-over-zealous-pursuit/

I have every sympathy with the OP who must be beginning to feel like "The Accused". I suppose that opening two more accounts on top of several (?) others triggered some algorithm or the other.

To be nearly a fortnight  without access  to his/partner's  current/savings accounts (and it seems that they are all with this one institution) must be worrying and frustrating in the extreme.

And for the bank to take over ten days to investigate an internal transfer is beyond ridiculous.

I do wonder though why all accounts are with the same bank - I'd have thought that a joint current account, savings account and perhaps an ISA each (if a particularly good deal) would be sufficient.

There are other accounts with other institutions from which transfers to Santander would be virtually instantaneous.

Hoenir

grumbler said:

Hoenir said:

Section62 said:

eskbanker said:

datz said:

bulldog80 said:

I fully intend to join a new bank after this and pull all my business away from Santander. I’ve never experienced anything like this.

All banks operate in much the same way, and can freeze money and/or accounts for weeks at a time (usually due to ever stricter AML regulations). You will find similar reports from every current account provider, so moving your business from one to another isn't really a 'fix'.

I don't recall any threads about any bank imposing restrictions resulting from an internal transfer between a customer's own accounts, do you have any links to the contrary?

I wonder whether the issue hasn't got anything to do with the number of accounts the OP has, nor the internal transfers, but rather the act of opening an additional new account has triggered some kind of periodic check of activity, which has thrown up something (possibly from long ago) that the system didn't like.

AML software which runs across the databases is extremely sophisticated and joins the dots together. Flagging up cases for indepth investigation. Behave normally and there's rarely an issue.

Define "normally" (and "rarely").

Remember we are only discussing something as basic as the transactions that pass through a personal bank account. 

grumbler

Hoenir said:

grumbler said:

Hoenir said:

Section62 said:

eskbanker said:

datz said:

bulldog80 said:

I fully intend to join a new bank after this and pull all my business away from Santander. I’ve never experienced anything like this.

All banks operate in much the same way, and can freeze money and/or accounts for weeks at a time (usually due to ever stricter AML regulations). You will find similar reports from every current account provider, so moving your business from one to another isn't really a 'fix'.

I don't recall any threads about any bank imposing restrictions resulting from an internal transfer between a customer's own accounts, do you have any links to the contrary?

I wonder whether the issue hasn't got anything to do with the number of accounts the OP has, nor the internal transfers, but rather the act of opening an additional new account has triggered some kind of periodic check of activity, which has thrown up something (possibly from long ago) that the system didn't like.

AML software which runs across the databases is extremely sophisticated and joins the dots together. Flagging up cases for indepth investigation. Behave normally and there's rarely an issue.

Define "normally" (and "rarely").

Remember we are only discussing something as basic as the transactions that pass through a personal bank account. 

And? How can anyone follow your advice "behave normally" without knowing what "normally" actually means? IMO, it's just empty meaningless words.

km1500

not sure having 'numerous' accounts with the same bank and then opening two more is 'normal' but maybe it is these days

grumbler

Again, for basic savings accounts how many is normal and how many isn't?

That said, personally I don't need more than one of the same type, but I'm fine without any 'pots' that other people cannot live without.

BoGoF

What is strange is that the OP seems to say it's only the 2 new accounts that have been blocked. And what I don't get is why you would open a new savings account, transfer a decent amount of money to it (enough to buy a car apparently) when you were going to use that money to buy a car within days.

That is not 'normal' to me. 

boingy

xylophone said:

I have every sympathy with the OP who must be beginning to feel like "The Accused".  

Sadly, that seems to be the nature of this forum. 

Kim_13

BoGoF said:

What is strange is that the OP seems to say it's only the 2 new accounts that have been blocked. And what I don't get is why you would open a new savings account, transfer a decent amount of money to it (enough to buy a car apparently) when you were going to use that money to buy a car within days.

That is not 'normal' to me. 

YBS don’t allow withdrawals within 14 days, so I tend to assume this with any new account to be on the safe side. 

Having read this thread I started to wonder if it was a good idea to have moved February’s budget into a Skipton Bonus Saver opened on 12th Jan, but it’s done now.

born_again

While OP has said these were internal transfers to newly opened accounts. They have made no mention of how long funds were in the accounts that were transferred out of, or where the funds may have come in these accounts.