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Thread: New account frozen without explanation # help

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  1. #1
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    Default New account frozen without explanation # help

    I opened a new account at nationwide ... I then had all the funds from my rbs account transferred into it ... The funds cleared and for two weeks i was able to withdraw money , .... Then suddenly without notice my account was frozen ...
    They now want me to prove where the money is from ///
    they know it was transfered from my rbs ... So they now want to how i got the money .
    It has been more than 8 weeks and i am being threatened with eviction as all my money is in that account ... And i have been unable to pay my rent ..

    Can anyone advise .

  2. #2
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    Default Re: New account frozen without explanation # help

    Seems obvious - give the bank the information ASAP.

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    Default Re: New account frozen without explanation # help

    Quote Originally Posted by paulajayne View Post
    Seems obvious - give the bank the information ASAP.
    What can I say ??? ... just for the record .... I think it best for all concerned ..that I 'NOT SHARE '... my initial reaction on reading 'paulajayne's' generous & genius piece of insight .

  4. #4
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    Default Re: New account frozen without explanation # help

    So what have you done so far then? Have you refused to explain to the bank how you got the money? Have you provided them with any previous RBS statement showing your account history? How long did you have your RBS account open for?

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    Default Re: New account frozen without explanation # help

    Quote Originally Posted by TYRONE75 View Post
    What can I say ??? ... just for the record .... I think it best for all concerned ..that I 'NOT SHARE '... my initial reaction on reading 'paulajayne's' generous & genius piece of insight .

    You want your account Un-Frozen as the bank believes for some reason that there may be a problem.
    They have told you what they require so why not comply.
    Sometimes posters cannot see the wood for the trees and giving the most obvious piece of advice is best.

    My advice and my time as with other posters on this forum is free - take it or leave it.

  6. #6
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    Default Re: New account frozen without explanation # help

    Quote Originally Posted by TYRONE75 View Post
    What can I say ??? ... just for the record .... I think it best for all concerned ..that I 'NOT SHARE '... my initial reaction on reading 'paulajayne's' generous & genius piece of insight .
    Roughly how much are we talking about here cos the bank are not asking you because it's a couple of hundred pounds?
    As has been stated, show them the bank statement from your other account or if it is a salary payment show them the payslip(cos you might be transferring that payment and it might be taking time to sort that out.

    Take a step back from all of this. You're mate opens a bank account and he's always asking you to borrow money from him beforehand. Suddenly he appears to be flush with loads of money on his hands. Is that normal for him? However, what about if he tells you he's got this great new job that pays him a lot more than the previous one. That makes a lot of sense to you, I would think.
    "Family means that no one gets forgotten or left behind"
    (quote from David Ogden Stiers)

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    Default Re: New account frozen without explanation # help

    It is a truth that the banks not on;ly have duties under legislation but also hold the cards here i.e they have your money. I may not agree but in reality if you need to access your money , in the short term you will need to comply. Do that and then complain taking it as far as you can

  8. #8
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    Default Re: New account frozen without explanation # help

    Not telling the bank where the money came from will not get the money released more likely to get them digging deeper or passing their concerns on to other authorities.

  9. #9
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    Default Re: New account frozen without explanation # help

    Seems very sensible!

  10. #10
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    Default Re: New account frozen without explanation # help

    give the info if you have nothing to hide, or the consequences are your making, we all if get a sudden surge of monies to great extent get that problem, I did but one call and sorted as it was proceeds from sale of a house and the
    balance
    left over after buying another one years ago, self inflicted situation if you continue it is law on laundering checks after the banks instigated thr laundering of their own.

  11. #11
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    Default Re: New account frozen without explanation # help

    The bank is entitled to ask where the monies that were transferred from your RBS account came from - its known as "source of funds".

    All you need to do is show where the monies that were in the RBS account came from. i.e inheritance, redundancy payoff, selling a car, winning the lottery .....
    I am a solicitor who specialises in consumer credit and my firm is Joanna Connolly Solicitors. A leading case of mine Carey v HSBC Bank plc [2009] EWHC 3417 (QB) (High Court) set the legal precedents for creditors compliance with section 77 & 78 Consumer Credit Act 1974 statutory requests & enforcement of debts in court.

    In the cases of Brookes v HSBC Bank plc and Jemitus v Bank of Scotland plc [2011] EWCA Civ 354, the Court of Appeal confirmed that under CPR 38.6, there is a general presumption that Claimants discontinuing claims will be liable for the Defendants’ costs.

    In March 2017 we were successful in the multi- track case of PRA Group (UK) Limited v Mayhew when Recorder Bellamy found that the 2 MBNA credit card agreements were irredeemably unenforceable and the assignment from PRA to MBNA was not proved.

    Another recent case is the Appeal of John Burns v Nationwide (HHJ Hodge QC where we were successful in appealing a possession order and money judgment for £250,000 made at a summary hearing on the basis that the lender's failure to provide consent for proposed leases over the secured property created an unfair relationship within the meaning of section 140A of the Consumer Credit Act 1974. The business premises were returned to our client.

    This forum’s site rules don’t allow me to give advice by PM but if you need to contact me please email jo@joannaconnollysolicitors.co.uk. Our initial advice is always free.

    Any posts I make on Legal Beagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

  12. #12
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    Default Re: New account frozen without explanation # help

    Quote Originally Posted by TYRONE75 View Post
    i am being threatened with eviction as all my money is in that account ... And i have been unable to pay my rent
    You need to take any threat of eviction seriously.

    If your rent is 8 weeks in arrears that threat could turn into a reality under Ground 8 which is mandatory possession by the Landlord (i.e. the court has no discretion) and you could be asked to pay the associated legal costs.

    You say that RBS has frozen your money for 8 weeks so you may be (or soon be) in a precarious position.

    Ground 8 is explained in Plain English on this blog >

    https://nearlylegal.co.uk/2006/12/wh...like-ground-8/

    If you're not in a position or unwilling to provide information to RBS then would it make sense to pay any ongoing funds you receive into a new bank account so you can at least meet your priority payments such as rent?

    Perhaps explain to your Landlord the reason for the delay (causing rent arrears) and inform him that you are doing everything in your power to resolve this temporary blip with your bank.

    Di
    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specializes in consumer credit.

    This forum’s site rules don’t allow me to give advice by PM but if you need to contact me please email di@joannaconnollysolicitors.co.uk . Our initial advice is always free.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

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