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    • woolyG
    • By woolyG 23rd Mar 18, 5:51 PM
    • 25Posts
    • 4Thanks
    woolyG
    TSB Have Suspended Account
    • #1
    • 23rd Mar 18, 5:51 PM
    TSB Have Suspended Account 23rd Mar 18 at 5:51 PM
    My mum who is 80 recently cashed in her 95k investment with Prudential and the money was paid into her TSB account. She agreed to lend a close family friend 75k, she went online and authorised the payment, the money was being sent to his bank in Puerto Rico, but TSB refused the payment and her account was suspended. Up to this point, I can fully understand why the payment was blocked and the account was suspended as the payment may have looked fraudulent. My mum and I then went to our branch the following day to try and resolve the problem, she has been at the bank for 40 years so they do know her. We were then separated into different rooms and my mum was questioned about the payment, I think they believed she was being coerced, I was made to feel like a criminal. My mum was adamant she wanted the payment to be sent, but they continued to refuse and kept the account frozen. She was told they need to see two documents with her address on.

    Today she returned to the bank with the requested documents on her own this time, as there was no way I was going through that again, but again they refused the payment, have left the account frozen and said they need more information about the payment she wants to send, she was left very upset and angry by how they have made her feel. She cant understand why she cant spend her own money as she wants and was made to feel that she was incapable of making her own financial decisions. Has anyone any suggestions how we can get this resolved or what we should do.
    Last edited by woolyG; 24-03-2018 at 1:01 AM. Reason: spelling
Page 3
    • woolyG
    • By woolyG 24th Mar 18, 4:53 PM
    • 25 Posts
    • 4 Thanks
    woolyG
    Who is she giving the money to? A friend/relative, how long has she known this person?

    Are you not worried that your mum might be being ripped off.
    Originally posted by Ms Chocaholic
    He is a family friend she is giving the money to, she has known them for about 25yrs and trusts him.

    In all honesty, I would very much prefer she never sent the money to him, but there is a fine line between warning/advising her about the risks of lending such a large ammount of money and not getting it back and sounding like you a concerned about your own financial interests.
    • xylophone
    • By xylophone 24th Mar 18, 5:34 PM
    • 26,088 Posts
    • 15,452 Thanks
    xylophone
    She was of the opinion that it was her money and she could do with it what she wished, which is true. Obviously the bank does not agree with that sentiment though.
    See post 36

    http://forums.moneysavingexpert.com/showthread.php?t=5815754&page=2

    The bank explained the steps it had taken, including notifying the police. But it said it could not prevent customers from withdrawing their own money, particularly where, as in this case, the customer had insisted she knew what she was doing.

    In the end, your mother, providing she is acting within the law, can do as she wishes with her own money.

    However, no bank is compelled to offer her an account or continue offer an account or to facilitate a transfer that they feel may open them to compensation claims etc.

    maybe you will want to make a transaction in your older age in full knowledge of what you are doing, only to be told NO!!! how will you feel?
    There are other ways of making transfers than through a bank and one of these would need to be employed if the banks refuse?
    • jonesMUFCforever
    • By jonesMUFCforever 24th Mar 18, 5:36 PM
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    jonesMUFCforever
    I would just like to ask one more question who initiated the sale of the original investment?
    80 year old tend to leave things be especially if they have made a bit on their original investment.
    So did the 'friend' from Puerto Rico ask for the money before or after the sale??
    What goes around - comes around
    give lots and you will always receive lots
    • woolyG
    • By woolyG 24th Mar 18, 5:43 PM
    • 25 Posts
    • 4 Thanks
    woolyG
    I would just like to ask one more question who initiated the sale of the original investment?
    80 year old tend to leave things be especially if they have made a bit on their original investment.
    So did the 'friend' from Puerto Rico ask for the money before or after the sale??
    Originally posted by jonesMUFCforever
    My mum initiated the sale of her original investment, he never asked for the money it was offered to him by my mum.
    • Robisere
    • By Robisere 24th Mar 18, 5:57 PM
    • 2,344 Posts
    • 3,166 Thanks
    Robisere
    As a 73 year old TSB customer, with no idea what my mental and physical state will be like by 80: I am so glad to be a TSB customer. Any bank that takes such steps to protect possibly vulnerable customers, has to be a better banking choice than one which would ignore a possibly fraudulent situation.
    I think this job really needs
    a much bigger hammer.
    • John-K
    • By John-K 24th Mar 18, 7:55 PM
    • 654 Posts
    • 1,017 Thanks
    John-K
    I think that nowadays banks just cannot win. Wherever they draw the line, someone!!!8217;s going to be upset, and as we see by the tone of posts on here, they will possibly be furious.

    I think that banks need to start sharing details of those furious customers, and just freezing them out of the banking system when their fury is completely misplaced. Pubs already have a system of working together to weed out the people that they do not want to serve, it is high time banks did the same.

    Don!!!8217;t like the service, go back to getting paid in cash, and needing to drive in person to pay every bill.
    • xylophone
    • By xylophone 24th Mar 18, 10:55 PM
    • 26,088 Posts
    • 15,452 Thanks
    xylophone
    This seems very strange - is there any reason why your mother has suddenly decided to cash in her investment and offer a friend in Puerto Rico an unsolicited loan?
    • robatwork
    • By robatwork 25th Mar 18, 9:50 AM
    • 4,488 Posts
    • 5,025 Thanks
    robatwork
    Mystic Rob:

    OP WoolyG doesn't post satisfactory conclusion to thread
    OP WoolyG posts back in 3 years new thread "How do I go about suing someone in Puerto Rico and TSB for stealing mum's money"
    • OceanSound
    • By OceanSound 10th Apr 18, 6:24 AM
    • 302 Posts
    • 42 Thanks
    OceanSound
    Mystic Rob:

    OP WoolyG doesn't post satisfactory conclusion to thread
    OP WoolyG posts back in 3 years new thread "How do I go about suing someone in Puerto Rico and TSB for stealing mum's money"
    Originally posted by robatwork
    Or thread titled 'how friend in Puerto Rico missed opportunity of lifetime to buy a property or set-up a business.'
    Thank you TSB
    • meer53
    • By meer53 10th Apr 18, 10:32 AM
    • 9,244 Posts
    • 13,421 Thanks
    meer53
    Or thread titled 'how friend in Puerto Rico missed opportunity of lifetime to buy a property or set-up a business.'
    Thank you TSB
    Originally posted by OceanSound
    So, person in Puerto Rico couldn't afford to finance opportunity of a lifetime so had to fleece 80 year old, living over 4000 miles away of 75k ?

    TSB are 100% correct to do what they have done in this case, if you can't see this, there's something wrong with you.
    • sheramber
    • By sheramber 11th Apr 18, 10:58 AM
    • 4,964 Posts
    • 3,717 Thanks
    sheramber
    I think what she meant was she felt as though she was being interrogated by the staff, but I do realise there is a fine line between protecting the customer and infringing on their rights. I personally believe they crossed the line. I don't suppose it helped the matter that the branch staff had her trying to get her point across to somebody in a foreign call centre and she is hard of hearing as it is. I am sure you can imagine even for the best of us how stressful that can be. never mind being bombarded with questions from everywhere
    Originally posted by woolyG

    Which of these centres is 'foreign'?
    Weve got key operations centres in Gloucester, Edinburgh, Sheldon, Sunderland, Swansea and Bristol

    Scotland isn't an Independent country yet.
    • Nasqueron
    • By Nasqueron 11th Apr 18, 11:20 AM
    • 5,206 Posts
    • 3,149 Thanks
    Nasqueron
    My mum initiated the sale of her original investment, he never asked for the money it was offered to him by my mum.
    Originally posted by woolyG
    Do you know that for sure? Do you know the mum hasn't been fooled by one of these scam emails thinking a relative is stuck in financial difficulties and wants to send them money which will instead go to a scammer.

    What plans does you mum have for if / when the money is inevitably stolen or misused in that country and the person cannot pay it back, can she afford to be without this huge sum of money?

    Puerto Rico average (median) income is $18626 in 2015, 46.1% poverty rate, 10.9% unemployment, huge crime rate (20 murders per 100,000 compared to 3.7 in the mainland US etc). She wants to send someone the equivalent of nearly 6x the median income which is highly likely to be stolen or the relative attacked for the money - of course the bank is suspicious!
    • anotheruser
    • By anotheruser 12th Apr 18, 3:11 PM
    • 2,620 Posts
    • 1,546 Thanks
    anotheruser
    This is absolutely appalling and it is of no concern to the bank whether you have a loan agreement or any other documentation in place

    it is your money and as long as the bank are satisfied that the correct customer has authorised the payment than they should let it through
    Originally posted by 18cc
    I agree, but that's not the world we live in these days.
    Remember, many people want to blame someone else for their mistakes, and banks have been rolled over hot coals about this sort of thing.

    Think about it form the banks point of view.
    Some old lady comes in saying she wants to transfer a huge amount of money, together with someone who may or may not be related, so a bank account that isn't in the UK.
    It screams fraud...
    • 18cc
    • By 18cc 12th Apr 18, 4:49 PM
    • 667 Posts
    • 445 Thanks
    18cc
    Yes, maybe it does scream fraud, but that bank is not a 'fraud guardian', their job is to prevent fraud in that they need to be sure that the person requesting the transfer is indeed the account holder. They can even go the extra mile and ask the customer who the money is going to and for what purpose, but if the customer then says they know what they are doing then the bank has no right to block the transfer. It is her money, the bank have verified it is her and not an imposter, if she says it's for a great investment she was told of down the pub then again the bank can warn but in the end should, as they say, butt out.


    Otherwise where does it end? You want to buy a second hand car but the bank won't release the funds because they think you are not getting a good enough bargain? Silly anaolgy I know, but the principle is the same.
    Last edited by 18cc; 12-04-2018 at 4:53 PM.
    • jonesMUFCforever
    • By jonesMUFCforever 12th Apr 18, 5:13 PM
    • 25,065 Posts
    • 12,314 Thanks
    jonesMUFCforever
    Yes, maybe it does scream fraud, but that bank is not a 'fraud guardian', their job is to prevent fraud in that they need to be sure that the person requesting the transfer is indeed the account holder. They can even go the extra mile and ask the customer who the money is going to and for what purpose, but if the customer then says they know what they are doing then the bank has no right to block the transfer. It is her money, the bank have verified it is her and not an imposter, if she says it's for a great investment she was told of down the pub then again the bank can warn but in the end should, as they say, butt out.


    Otherwise where does it end? You want to buy a second hand car but the bank won't release the funds because they think you are not getting a good enough bargain? Silly anaolgy I know, but the principle is the same.
    Originally posted by 18cc
    Sorry but your reply IMO is totally rubbish.
    A bank's duty to their customer does indeed make them a 'fraud guardian' which is why some payments are stopped or subject to fraudulent enquiries.
    Indeed some banks have joined forces with the police in having a protocol whereby the police are called if bank staff are suspicious of cash withdrawals or requests for 'unfamiliar' transfers.
    It makes perfect sense to me.
    What goes around - comes around
    give lots and you will always receive lots
    • sheramber
    • By sheramber 13th Apr 18, 4:42 PM
    • 4,964 Posts
    • 3,717 Thanks
    sheramber
    It may be the account the money was going to that raised the red flag.
    • JuicyJesus
    • By JuicyJesus 13th Apr 18, 4:56 PM
    • 3,167 Posts
    • 3,395 Thanks
    JuicyJesus
    TSB are completely in the right and were I the one charged with releasing this payment (as the job I used to do entailed) I'd be asking serious questions about this transfer and asking for documentary evidence of this loan or whatever and more details about the underlying transaction before I'd even consider it, and even then I'd want to refer it up to the fraud team first. Old woman + massive payment + to developing country + "loan to old family friend" + "all of her savings" + "for an investment" would set off my fraud alarm something fierce, and you wouldn't believe the number of times I've heard "I know exactly what I'm doing" or "she knows exactly what she's doing" when that's been complete and utter bullsh*t.

    Banks are under absolutely no compulsion to release payments they have good cause to think are from their customers being coerced, and indeed they have come under significant external pressure to vet such payments more thoroughly, largely because even if this elderly lady isn't credulous enough to send thousands on the strength of a shonky email there are plenty of other people who are.
    urs sinserly,
    ~~joosy jeezus~~
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