Halifax Sharedealing Catch 22 - they are keeping my assets!

Nemodot

Hi Halifax restricted my account and are demanding a utility bill or council tax bill in my name, however, I am "homeless" (staying in Airnb for work mobility) and last week went ovreseas for  a bit. They are demanding a utility bill again, but no such concept where I am in my name.

Issue is I want to close my account or transfer my assets to another provider (open and they are ok with me being a nomad) but Halifax are flat out refusing!

They are refusing my UK driving licence or HMRC letters as proof of correspondence address.

This isn't legal., I haven't broken any tax laws etc, it is their rules, so ok I can't have an account but refusing to allow me to sell up or transfer means in effect they have seized my assets!

Any ideas? I can complain but will take months!

friolento

Nemodot said:

 

Any ideas? I can complain but will take months!

It will most likely be faster than venting on an Internet forum, and banks usually respond to complaints in weeks rather than in months.

Hoenir

friolento said:

Nemodot said:

 

Any ideas? I can complain but will take months!

It will most likely be faster than venting on an Internet forum, and banks usually respond to complaints in weeks rather than in months.

What's triggered the bank to act in this manner though? 

If everybody vented on social media nothing would get done any quicker. Banks aren't going to bend their rules either.  

wmb194

Nemodot said:

Hi Halifax restricted my account and are demanding a utility bill or council tax bill in my name, however, I am "homeless" (staying in Airnb for work mobility) and last week went ovreseas for  a bit. They are demanding a utility bill again, but no such concept where I am in my name.

Issue is I want to close my account or transfer my assets to another provider (open and they are ok with me being a nomad) but Halifax are flat out refusing!

They are refusing my UK driving licence or HMRC letters as proof of correspondence address.

This isn't legal., I haven't broken any tax laws etc, it is their rules, so ok I can't have an account but refusing to allow me to sell up or transfer means in effect they have seized my assets!

Any ideas? I can complain but will take months!

They aren't been "kept," they'll be waiting there for you until you can complete the KYC. I doubt complaining will make any difference. If you're (temporarily) resident in certain jurisdictions it might be illegal for HSDL to provide services to you. I have an old driving licence from decades ago with an address on it but it doesn't prove that I'm still resident there, that's why you're being asked for something recent.

MarkFromCornwall

Perhaps they would accept a recent bank account statement or credit card statement with your correspondence address.

dunstonh

This isn't legal.

It isnt illegal.

European AML laws apply on withdrawals as much as deposits.  Especially if you opened your account under a previous AML directive to the one today.  Another trigger is if you are in a third party country and further triggers if you are in a high risk 3rd party country.

 I haven't broken any tax laws etc, it is their rules, 

It is not their rules.  Halifax do not create the laws.  They have to follow them.

They are refusing my UK driving licence or HMRC letters as proof of correspondence address.

Which is correct as proof of address only works if it is your address.  

I can complain but will take months!

A complaint will not result in the law being circumvented.  The best it can do is find a way to satisfy the legal requirements.   However, it shouldn't need a complaint.   It may need someone a bit more knowledgeable than their front line staff but if you explain the situation to Halifax, they should offer solutions.

That said, despite my knowledge in this area, I do not know what the solution would be for a nomad.