Hi All,
I hope you are well.
I am attempting to transfer some money under 2k to abroad (EU).
I opened an account on my name abroad as I study there and have to pay tuition.
At that foreign bank I have indicated that I am a UK tax resident, provided my NI number.
I was looking for the UK currency broker that gives me the best rate.
I make a transfer to them to find out the next day that the bank has froze the transfer and is bombarding me with emails, texts and phone calls during my working hours.
I call them to find out there is a suspicion of scam/fraud but after confirming my identity several times the line of questioning is to make me a fraudster. I can tell there is nothing to do with preventing fraud e.g. some external entities stealing from my account.
The bank is only concerned about the deposits on THEIR accounts and they use this fraud/cyber-crime boogeyman to make people's life harder, ideally don't touch their deposits just get some cash for food,.
In result of that blocked my to the point I was not able to even cash out at cash machine.
I have provided them the reason for transfer however their questions are quite invasive - they even want to know the name of the university and perhaps in the next question they want me to provide my student ID. I stopped right there as I don't think we live in the Soviet Union. I was triggered because the man from this security team at the bank literally repeated all I said while typing it into the system.
I decided not to proceed any further and simply closed the account. Imagine this is my current account I have for over 10 years where my salary goes in.
Luckily I had another account the money could be transferred but all the direct debits had to be restored manually.
As I have to pay the tuition urgently I checked for the best rates and went for a different currency broker.
I transfer to them 1k, they received the money.
The following day I got an email from them that they closed my account but conveniently do not provide any more details.
What is going on here?
Is there something wrong with the banking lately or am I on some sort of a blacklist database now they will block all my transfers?
This is very worrying but I can see the trend at least in the last 3 years. The banking stratifies.
The high street banks don't trust challenger banks even if both have banking licenses.
Please advise.
I hope you are well.
I am attempting to transfer some money under 2k to abroad (EU).
I opened an account on my name abroad as I study there and have to pay tuition.
At that foreign bank I have indicated that I am a UK tax resident, provided my NI number.
I was looking for the UK currency broker that gives me the best rate.
I make a transfer to them to find out the next day that the bank has froze the transfer and is bombarding me with emails, texts and phone calls during my working hours.
I call them to find out there is a suspicion of scam/fraud but after confirming my identity several times the line of questioning is to make me a fraudster. I can tell there is nothing to do with preventing fraud e.g. some external entities stealing from my account.
The bank is only concerned about the deposits on THEIR accounts and they use this fraud/cyber-crime boogeyman to make people's life harder, ideally don't touch their deposits just get some cash for food,.
In result of that blocked my to the point I was not able to even cash out at cash machine.
I have provided them the reason for transfer however their questions are quite invasive - they even want to know the name of the university and perhaps in the next question they want me to provide my student ID. I stopped right there as I don't think we live in the Soviet Union. I was triggered because the man from this security team at the bank literally repeated all I said while typing it into the system.
I decided not to proceed any further and simply closed the account. Imagine this is my current account I have for over 10 years where my salary goes in.
Luckily I had another account the money could be transferred but all the direct debits had to be restored manually.
As I have to pay the tuition urgently I checked for the best rates and went for a different currency broker.
I transfer to them 1k, they received the money.
The following day I got an email from them that they closed my account but conveniently do not provide any more details.
What is going on here?
Is there something wrong with the banking lately or am I on some sort of a blacklist database now they will block all my transfers?
This is very worrying but I can see the trend at least in the last 3 years. The banking stratifies.
The high street banks don't trust challenger banks even if both have banking licenses.
Please advise.
Comment