New account frozen without explanation # help

[TYRONE75]

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 .

[paulajayne]

Re: New account frozen without explanation # help

Seems obvious - give the bank the information ASAP.

[TYRONE75]

Re: New account frozen without explanation # help

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 .

[R0b]

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?

[paulajayne]

Re: New account frozen without explanation # help

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.

[leclerc]

Re: New account frozen without explanation # help

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.

[warwick65]

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

[wales01man]

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.

[spirit2534]

Re: New account frozen without explanation # help

Seems very sensible!

[MIKE770]

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.

[Joanna C]

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 .....

[Diana M]

Re: New account frozen without explanation # help

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