Pockit preaid card restricted account

[harryg1991]

Good morning all,


Nearly 10 weeks ago Pockit (prepaid card) restricted my account to undertake a 'review'.

They requested proof of ID, proof of source of funds & various other documents.

All documents requested were sent.

I spoke with them on the phone and they confirmed that everything should now be okay and my account would be reactivated (this was 3/4 weeks ago)

They are now ignoring my emails and there telephone system is apparently undergoing an upgrade so I'm unable to make contact with them.

It appears that they are doing it to alot of people according to twitter where 30+ people are posting the same things.

I have opened a case with the ombudsman but it's likely to take months to get a response.

I have over £1300 in my account and find it highly unfair that they are allowed to do this to people.

Any help/advice much appreciated.


Many thanks,

Harry

[The Chode]

Sounds like whatever activities were happening on your bank account triggered an internal AML investigation. Prepaid accounts usually have limitations on funds you can deposit / spend without verification. If I remember correctly, it was in the region of £2000.

As they've requested SOW information, I would imagine they find your transactions either suspicious or high risk - for example; paying in cash or gambling transactions (you're not matched betting are you?)

Unfortunately, with an AML investigation they won't give you any information until they are satisfied of the information / proof you give to them. It could take anything from a few days to a few months.

Now you have contacted the FOS, there is pretty much nothing you can do, not 100% sure on this, but I think you can no longer deal with the company directly (or you're not supposed to)

[harryg1991]

Hi thanks for the response.

There was some gambling transactions on there but nothing id say was out of the ordinary.

What am i supposed to do now? I just want to get my money back but they refuse to respond and there telephone number doesnt work.


Surely they aren't allowed to just do this?

Is there anything I can say to them to 'scare' them into thinking I will proceed with legal action if they don't return it?


Thanks

Harry

[The Chode]

As a financial institution they can freeze accounts pending an investigation under AML regulations. As you initially said they asked for source of wealth, I can only assume you have either made high risk transactions or had a substantial amount of money pass through the account. You will either have to wait for their decision (assuming you have sent the information they requested), wait for the FOS decision and then take legal action.

Did you send the information they requested? if not, then you will not get your money

[harryg1991]

I have sent everything they have asked for. I can provide anything they ask for as I haven't done anything wrong, had a few bets and used the card as a separate account to my bank account for budgeting.

Just frustrating that they won't respond, a quick check on twitter will show they are doing this to 100's of people.

Thanks for your response.

[siz]

hi harryg1991 - i too am in the same predicament as yourself. i am also in the process of taking them to court. they froze my account after giving them all information they wanted and now will only "talk" to me via the app or on line but as they have frozen and blocked me this is impossible. since they have done this i have been looking at everything pockit i can find. they are truly abysmal and are thieves - they are thieves under the wording of "money laundering" yet as i can prove EVERY PENNY i think they do this so that they can sit on your cash and earn interest. even a special delivery letter to the CEO (as much use as a chocolate tea pot) ignored me - so i just wondered if anyone else has taken them to court. last message i found on the web the MCOL awarded the customer full refund yet a month later and pockit have not released the money - they are NOT a bank and they have MY MONEY - shame these unscrupulous dealings are not looked at by the financial ombudsman before allowing them to practice!