Bank account suspended

are u live in zimbabwe?

No mate - England.

why they need so much time to give you a explanation?

call the cops. tell them you are being robbed.

You need your money now for deposit, if they have suspended your a/c
surely they should at least give you an explanation now.

I've also got money in a seperate a/c like this built up from gambling,
haven't touched it yet but will need to draw it all out later this year,
care to say which bank has suspended your a/c (?) or is it the same one as mine, Nat West ?

It's unlikely to be the gambling transactions that are the problem it'll be the money deposited by 'friends'. The gambling transactions can easily be verified, did the friends give you the money so you deposited or did they put the money direct into your account in lump sums?

if this money from your friends came from gambling also and ended up in your bank account you may be also looking at a tax bill

TELL DELL it is the same bank as yours. The money is all mine but has been put back into the bank in lump sums over a period of time by my friends. Also, not all of this money has come from gambling.

My point i made to the bank is that money has been in that account for a period of time and they haven't asked me any questions - infact they use to call me all the time asking me to invest it with them. It is only since I've tried to do a large withdrawal that they have now asked how i got this money in the first place. They are now not even prepared to enter into any further discussion with me on this matter.

Time to get legal help I would imagine. Its not a criminal offense to win money from gambling or friends to have maybe lent you the money thats been deposited into your account.

They account will have been flagged for potential money laundering i expect

Hi,

I had a similar problem 2 years ago. Natwest also started wondering where the money was coming from when I asked to withdraw the money deposited (and that had been with them for a long time). Fortunately, it was all over and solved in 45 minutes. I had to catch a train that day and was worried about it taking so long.

I really wonder why they trigger these money laundering things only when the money is going out. This is highly unprofessionnal. Especially when I did talk about it many times just to make sure that it would not cause me any trouble later.

What does your lawyer say?

banks are hot on money laundering which could be what they are looking into. But as you have stated they should not wait for a withdrawal before investigating. How large amount are you talking about withdrawing? It must of hit the radar for an investigation. I personally would shoot a quick letter to them advising any costs incurred with the loss of the purchase of the house will be passed on to them unless a full explanation can be given today!!

I would seek legal advice sraight away i would also contact the police, get evidence if this costs you any money at all including your time. . . . .

Seems to me that in future a way around this nonsense would be to transfer the money from your own natwest account to another of your own bank accounts first.
If they then give you hassle, you will have the time to deal with it.
If they don't, I doubt the other bank will launch any investigation after receiving the transfer from your own bank account.

buzzer 23 Feb 12:43


They account will have been flagged for potential money laundering i expect

Almost certainly the reason in your case

Exactly same happened to me with RBS (same group as Nat West) 2 years ago for same reasons with betting money. Went from Hero to Zero (long term well regarded customer at my branch etc)with a centrally generated letter giving me 30 days to find a new bank ..no right of appeal whatsoever ..no right to any explanation whatsoever..even the phone number was an answer phone message

Time to move on .. youve got zero chance of fighting it I reckon (not that it makes their actions fair obviously)

Good luck

My solicitor is in the process of writing them a letter as he has said that they should give me an explaination as to why they can't comply with this transfer. Hopefully he can get some joy for me that way.

At least they let me withdraw my money and close my savings account with them.

The money is all mine but has been put back into the bank in lump sums over a period of time by my friends. Also, not all of this money has come from gambling.

This all sounds very dodgy and potential tax evasion/benefit fraud/numerous other issues, I hope you have an explanation where the cash came from.

Inform the bank manager in writing that you intend to hold him or her PERSONALLY liable for any money you might lose, since he/she has refused you either access to your accounts or an explanation.

Won't help, but will make them sh*t themselves.

but you can't have friends continually lodge money into your account without some reason for it, you are at the very least looking at tax issue's here

hope it all works out for you mate though

Five By Five 23 Feb 13:17

This all sounds very dodgy and potential tax evasion/benefit fraud/numerous other issues, I hope you have an explanation where the cash came from.

Some of it came from when I was working as a contractor for an IT company.

How was the money placed into your account? Was it through the banking system or in cash. They hate cash. Surely if through the banking system then there will be records hence no problem proving where it came from.

It's came in through the banking system. I've even told them in the bank that if this is what they are investigating then it shouldn't take this much time to trace all of these transactions back as there all from the same bank.

In case its confusing I still have a large amount in my current account, but they have let me withdraw a smaller amount which was in my savings account with them. I still don't understand why they would let me withdraw my money from my savings account which is linked to the current account that is frozen and still has most of my money in. :-(

Tax or Money Laundering investigation. NAP

have you never heard of shoeboxes!

kingmax 23 Feb 16:52
have you never heard of shoeboxes!

have you never heard of theives?

what?

only an idiot keeps a large amount of cash around the house.

ATTENTION SEEKING THREAD 1.01

how is this an attention seeking thread?

The person has had their bank account suspended (perhaps due to betting transactions) and is asking for forum advice

A girl I know had her bank account suspended and couldn't pay the wages from her new job into it. The bank wouldn't tell her any details about it all for a month. Then they closed the account and finally told her a 6 figure sum had been laundered (she guesses her nasty ex bf sold her bank account details to someone) through it over the previous year

I did. Suspended a/c with HSBC then closed. Got the same shabby treament. first time i knew there was a problem was when i tried to log online and got an error code which they use when they earmark accounts for closure (googled the code...HK3)

They wanted an explanation and proof of where certain cash sums going in came from. Gave me 5 day deadline.

they were all from gambling with different bookies but they told me they werent satisfied.

Apparently they were worried about money laundering!!!!

They closed the account and I got the money back on the a/c.

Its happened to quite a few on here apparently.

thank goodness i was already a premier customer with barclays...dont know what I wouldve done.

-----

ps becareful of paypal. you can use it to fund your a/c but use it too often to withdraw and they'll ask u close your paypal a/c becuase they dont like money from gambling floating through their accounts!!!!!!! makes u wonder why betfair use them eh.

Hi there had same with natwest,suspended accounts month notice had plenty in there like east lower i am now barc prem have been for 3 yrs now and no probs get with them asap.

how can any bank close your account because of gambling...

dont believe it for 1 second.

gambling is LEGAL. if you can show its coming from a legal bookmakers they cant say anything.

kingmax . they can close your account for anything they wish


some banks just don't like lots of transaction related to gambling

kingmax - the above poster is dead right. Banks are like bookmakers - can happily close accounts for "commercial reasons".

I had 10 accounts with barclays that were closed on the same day and the first I found out about it was when my debit card was declined.

I had to go into a branch and a letter was printed off that was in the post on the way to me, telling me that "our business relationship was over".

At that point there was 62k in my current account getting 0.1% interest. There were some large transactions from betfair - but I am led to believe that the main problem (never got an official answer from barclays, just the finger basically) was paying in cash on a semi-regular basis.

OP - have you been paying lumps of cash in? Or is it money from betfair and other bookmakers? Because if its the latter, I can't imagine any problem over source of funds. But if its the former, I'd say you have a problem. I hope you get it dealt with relatively quickly and painlessly.

Advice for the future - get several accounts, open them over a slowish period of time so you don't impact your credit rating too much, and if paying cash in, use building society accounts and consolidate that in the form of cheques over time into your chosen current bank account(s).