Beware of Tide Bank

grumpy_codger

wmb194 said:

grumpy_codger said:

wmb194 said:

Lambuza123 said:

I am not sure what you mean by tipping off. the money entering my Tide bank account, is my monthly salary which is paid from a limited company which i am a director and shareholder. How can my monthly salary be viewed as money laundering?   

Have you used a business account as a personal account and breached its terms that way?

Breaching the T&C isn't money laundering. In this case there is no justification for keeping a customer in the dark. What's wrong with saying that they suspect that the T&C were breached and they are investigating this?

Yes, but it wouldn't surprise me if these days the default position is to always say nothing. The people working there cannot get into trouble with the law if they say nothing.

Would it not surprise you if the police say nothing when and after arresting you? 

Why would we need the law (the T&C) if people can't know what exactly they are allegedly guilty of and the police (banks' 'detectives') can do whatever they want without any need to justify their actions?

wmb194

grumpy_codger said:

wmb194 said:

grumpy_codger said:

wmb194 said:

Lambuza123 said:

I am not sure what you mean by tipping off. the money entering my Tide bank account, is my monthly salary which is paid from a limited company which i am a director and shareholder. How can my monthly salary be viewed as money laundering?   

Have you used a business account as a personal account and breached its terms that way?

Breaching the T&C isn't money laundering. In this case there is no justification for keeping a customer in the dark. What's wrong with saying that they suspect that the T&C were breached and they are investigating this?

Yes, but it wouldn't surprise me if these days the default position is to always say nothing. The people working there cannot get into trouble with the law if they say nothing.

Would it not surprise you if the police say nothing when and after arresting you? 

Why would we need the law (the T&C) if people can't know what exactly they are allegedly guilty of and the police (banks' 'detectives') can do whatever they want without any need to justify their actions?

I realise you have a bee in your bonnet about all this but dealing directly with the police is a different scenario and its rules of engagement are different.

In many circumstances a bank employee saying nothing is probably the best course to follow. It also heads off any back and forth.

If they feel so strongly about it the OP should make a complaint and see what washes out.

grumpy_codger

My point was that this "default position" defeats the purpose of any (detailed) T&C and makes them unneeded. 

The T&C can just say "We can suspend/close your account with immediate effect" (without any reason whatsoever). And this still doesn't stop you from complaining if you feel so.

born_again

wmb194 said:

Lambuza123 said:

I am not sure what you mean by tipping off. the money entering my Tide bank account, is my monthly salary which is paid from a limited company which i am a director and shareholder. How can my monthly salary be viewed as money laundering?   

Have you used a business account as a personal account and breached its terms that way?

closing my account immediately.

Is not a simple breach of terms. It is far more serious.

Reading between the lines, paying wages into account of a 2nd business, from another business would seem odd. Wages would normally go to a personal account.

I can see Tides train of thought here. Money gets transferred through serval accounts to make it clean 😜

No offence to OP. 👍

Chief_of_Staffy

This is what happens when government compels private institutions to do the job of the police under threat of imprisonment. Customer service, never a priority anyway, is completely dispensed with as the institution vastly overcompensates to ensure compliance. Who knows what the truth of it is in the OP's case, but it seems unlikely that a fraudster would post on a forum complaining that they've been accused of being a fraudster, albeit indirectly.

Ergates

Lambuza123 said:

I am not sure what you mean by tipping off. the money entering my Tide bank account, is my monthly salary which is paid from a limited company which i am a director and shareholder. How can my monthly salary be viewed as money laundering?   

Tipping off in intentionally or unintentionally letting someone know they are under investigation for fraud/ML/etc.  It is a criminal offense and can result in the member of staff going to prison for up to 7 years.   

However, you don't know if that is what is going on here.

Lambuza123 said:

 used this as an excuse to freeze my account.

An excuse?   This isn't something banks *want* to do - it's a hassle and usually results in a lost customer (and thus, lost income).

Ergates

grumpy_codger said:

wmb194 said:

Lambuza123 said:

I am not sure what you mean by tipping off. the money entering my Tide bank account, is my monthly salary which is paid from a limited company which i am a director and shareholder. How can my monthly salary be viewed as money laundering?   

Have you used a business account as a personal account and breached its terms that way?

Breaching the T&C isn't money laundering. In this case there is no justification for keeping a customer in the dark. What's wrong with saying that they suspect that the T&C were breached and they are investigating this?

Given none of us know why the OPs account was frozen/closed it is pointless speculating about whether not informing the OP was justified or not.

grumpy_codger

Ergates said:

grumpy_codger said:

wmb194 said:

Lambuza123 said:

I am not sure what you mean by tipping off. the money entering my Tide bank account, is my monthly salary which is paid from a limited company which i am a director and shareholder. How can my monthly salary be viewed as money laundering?   

Have you used a business account as a personal account and breached its terms that way?

Breaching the T&C isn't money laundering. In this case there is no justification for keeping a customer in the dark. What's wrong with saying that they suspect that the T&C were breached and they are investigating this?

Given none of us know why the OPs account was frozen/closed it is pointless speculating about whether not informing the OP was justified or not.

Well, if you read the whole thread you'll see that my reply was to wmb194,  i.e. to a suggestion that the account was possibly closed/frozen for using it for business:

wmb194 said:

Lambuza123 said:

I am not sure what you mean by tipping off. the money entering my Tide bank account, is my monthly salary which is paid from a limited company which i am a director and shareholder. How can my monthly salary be viewed as money laundering?   

Have you used a business account as a personal account and breached its terms that way?