Hi,

I am having major issues with my bank Accounts. Here are the accounts I hold at the moment.

1. Personal Bank (currently have £8000 in it)

2. Personal Saving Account (which doesn’t get use)

3. Business account for one of Convenience store business, which is a LTD company.

4. Business saving account for the store above (which does not get used)

5. Business account for the two properties that I let out

6. Business account which got opened by mistake by my business manager

which got opened with the business account for my properties

7. Business account for another convenience store, which is a LTD company

but it’s a different LTD company from my other store.

8. I was also a signaturee for my parents buy to let business account.

On the 6th June 16, I went into a branch to deposit money into my business account.

The cashier at the desk was all confused, as she could not put money into the account.

She had to phone the business team.

Once she got off the phone she told me that my account is getting closed and cannot give me any more information.

She gave me a number to call and discuss this further.

Straight away I called the number they gave me and it was the fraud and account closure team.

They have closed all the accounts above. They told me then to wait for a letter that I will get into the post.

All the accounts above are frozen. Including LTD company accounts and my parents business account

. Total balances of the accounts are £34,000

The letter arrived on 8th June.

The letter stated that due to activity on the account they have closed the account.

All Direct debits and payments coming in will be rejected.

I have to go into branch with this letter and ID to take all the money from my accounts.

I went into branch, the cashier took the letter and phoned to get authorisation to clear the account but as she got off the phone

. She told me to phone the number on the letter, which again was the fraud and account closure team.

They told me that my account and the funds are frozen.

They are investigating and could not tell me anything else.

Just told me to keep contacting them for an update

I called today to get an update but no luck.

This time they told me they hold the funds for 30 days and I should call after 30 days.

I use to transfer funds from other business into my personal account

and transfer from there to my Convince store business account to get by direct debits.

I have done this for a year once a week at least.

The convenience store sales are £35000 per week.

I use cash plus account at a post office as cash deposit account and then transfer the funds to my business account,

which equates to £30,000 per week.

Last week on Tuesday I deposited cash into my cash plus account but forgot to make the transfer before 4pm

for same day transfer so the transfer was made on Wednesday.

When Wednesday came I had 20k worth direct debits to pay but the money never came into the account by 3.30pm.

The cut off for direct debits is 2.30pm

I went into the bank and did a cash deposit for £18,000 before the cut off time

and transferred £2000 form my parents business account to my personal account

and from there I transferred the £2000 into the business account to get by the direct debits.

I have not done a cash Deposit of a large amount into this account for a year as I have been using cash plus

Before this I was depositing cash directly into my business account for the 2 years

before I moved to my cash deposit to cash plus as cash plus charges is a lot less than the bank charges

I don’t know whether the large cash deposit or loads of transfer caused suspicions.

On Friday I applied to open a secondary account for Paypoint Services.

Just wanted this DD to be kept separate so I can ensure the money for paypoint is kept separate and the DD is paid.

Money for the other store were banked into directly into that business account,

as it’s a new business and have 2 years free banking.

The bank is not giving me any information and is saying we are investigating the account

and can take up 30 days before funds are released.

I am stressed about this, as I need the funds for both my business to pay suppliers and bills.

All the business are legitimate. I have never had any intentions to do money laundering or fraud.

Any advice will be appreciated

Thanks

Right so... I understand that from your perspective you have had no joy in why they are cancelling your accounts etc.

The bank could be concerned you maybe doing Money Laundering which in your eyes you may not be, but they regularly review accounts.

Its a sad story for you. Due to the size of the issue I think complaining high up may be the best thing to do. They may not give you a reason but hopefully it will offer you a rest period where you can source banking facilities elsewhere...

[email protected] - MD Of RBS

I would get Ross involved and find out whats going on.

Hi,

Thanks for your reply.

I have had no joy calling the number they provided me. All they say we cant discuss this further till investigate is complete. I have moved over the Direct debits to my cash plus account for the old store.

For new store no account was set up as i had free banking for 2 years. I have made appointments with other banks for next week to set up accounts. Only issue is when i was speaking to my business manager. she was totally unaware of whats happened and could not give me any more info. i explained the cash deposit to her and she was saying that they would have phoned and asked her if there is anything was out the normal but i am speculating that the automated fraud computer must have detected and closed account because the letter i received was not signed by anybody.

Also the bank is RBS.

Thanks

Added info after post

maybe opening the secondary business account may have triggered something.

The bank knows the turnover of the business from the profit and loss accounts i provided to my business manager

Hi Asmat91... Are you one and the same as Mat001?

Also have amended the advice in my previous post.

Yes i am. Did not realise that my laptop have me logged in on my old account as i could not remember the details on my desktop computer.

thanks for the email address. Will Email tonight requesting him to look into this matter but i do no think it will go any where as doing more reading online. The bank will report it to NCA and await their reply.

thanks for the email address. Will Email tonight requesting him to look into this matter but i do no think it will go any where as doing more reading online. The bank will report it to NCA and await their reply.

Correct, if the bank suspects money laundering ; it would certainly explain why they can't discuss it (to avoid being guilty of "tipping off").

http://www.lawsociety.org.uk/support-services/advice/articles/a-practical-guide-to-tipping-off/