Chase Bank - Denied Access to Phone App

friolento

There’s a fair chance the connection to Revolut is the reason. Unlikely though you will ever find out whether it is or not because banks are prohibited from giving you the reason for investigations.

wmb194

Hah! Today Revolut has announced that it's secured a banking licence.

https://www.ft.com/content/424c1323-d296-4f7b-8d5e-8b0dc6a5828a

"The London-based company said on Thursday it had received a banking licence from the Prudential Regulation Authority with restrictions that will allow it to build out its banking operation before launching it."

born_again

BVI_EXPAT said:

wmb194 said:

BVI_EXPAT said:

Hoenir said:

BVI_EXPAT said:

 This is a disgusting way to treat a good customer. I want to make sure there are consequences for them doing this so can I complain to a higher authority ?

Something has tripped the internal AML system.  You need to determine what this could possibly be. As normal banking activity wouldn't.

 
Thats the thing that puzzles me. Its been normal banking activity since I opened the account 2 years ago ! I cant think of anything that might have triggered it. I have a big chunk in savings due to the 5.1% interest and I drip feed the linked Chase current account daily for my needs in the app .... I'm bl..dy fuming !!

Deposits from or transfers abroad? some jurisdictions are scrutinised more than others. Lots of debit card chargebacks in a short space of time? Any selling or purchasing of items from individuals where you've used bank transfers? Often the case with e.g., Facebook Marketplace. Transfers to/from crypto brokers?

Only deposits and transfers from UK banks and Revolut. I had 2 debit card purchases declined in a week due to low funds but topped up immediately then went through ok within minutes. No Facebook, Marketplace or Crypto, just a couple of PayPal purchases that went through OK. I have a BVI pension that's paid in USD into my UK Barclays USD account, just under £1k monthly goes through Revolut to exchange into GBP that's then tipped into my linked Chase Acc, been doing that since January so nothing unusual there ?

Not exactly a common case though. While it might seem normal to go, to a bank, it is a bit odd.

Funds coming in via revolt could well be the issue. 

friolento

wmb194 said:

Hah! Today Revolut has announced that it's secured a banking licence.

https://www.ft.com/content/424c1323-d296-4f7b-8d5e-8b0dc6a5828a

"The London-based company said on Thursday it had received a banking licence from the Prudential Regulation Authority with restrictions that will allow it to build out its banking operation before launching it."

with restrictions 

wmb194

friolento said:

wmb194 said:

Hah! Today Revolut has announced that it's secured a banking licence.

https://www.ft.com/content/424c1323-d296-4f7b-8d5e-8b0dc6a5828a

"The London-based company said on Thursday it had received a banking licence from the Prudential Regulation Authority with restrictions that will allow it to build out its banking operation before launching it."

with restrictions 

Close enough.

BVI_EXPAT

UPDATE. well its now been over three weeks and still my Chase account is blocked and not heard anything from the bank apart from an automated reply acknowledging my complaint.

I know 100%  that I have done nothing wrong. Is it worth getting my solicitors onto this ?

Thanks. Buster

Wonka_2

BVI_EXPAT said:

I know 100%  that I have done nothing wrong. Is it worth getting my solicitors onto this ?

Thanks. Buster

Only if you’ve more money to throw away. Unless I’m mistaken there’s no rules on the bank keeping you updated on their investigation and they’re certainly not allowed to tell you (or your solicitor) why. 

Assuming you’ve raised a formal complaint then you need to let that run its course and finally request a deadlock letter to go to the FOS. 

It’s maybe not going to be the quick process you’re hoping for and neither you, nor your solicitor, are going to be able to expedite this 

Hoenir

BVI_EXPAT said:

I know 100%  that I have done nothing wrong. Is it worth getting my solicitors onto this ?

Banks are within their rights to decline your custom. Whatever the outcome of their review. 

Juno_Moneta

OP - Why not force the issue by initiating a switch to eg Barclays? 

Plug your Chase sort code and account number into their account switching service. 

Then it’s a Barclays and CASS problem not yours, and Chase will be under pressure to comply with the switching regulations & timeline. 

wmb194

Juno_Moneta said:

OP - Why not force the issue by initiating a switch to eg Barclays? 

Plug your Chase sort code and account number into their account switching service. 

Then it’s a Barclays and CASS problem not yours, and Chase will be under pressure to comply with the switching regulations & timeline. 

Won’t work, Chase will just refuse the switch request.