Coop bank holding funds in account soo stressfull

[ali321]

Coop bank holding funds on my account, not releasing my money done almost everything, provided them documents etc. Bank replies back saying documents not exceptable. So angry at the bank its like day light robbery, have also contacted the fos (financial ombudsman service)

 

 

anyone here can help? Advice me what can i do extra for my money to be released.

 

Thanks

[dx100uk]

tell us the story please.

 

dx

[ali321]

Cooperative bank froze my account in march, my card everything got stopped,

 

I called up to find out whats going on?

 

the bank from the security department goes you have been receiving a lot money from that same account for past few months which isn't awful alot talking bout £16,000 in total.

 

They said can you please go into the branch with all proof of documents where this money came from so I went in to the branch.

 

The money I have been receiving is from my friend,

his just been paying me back slowly for the past few months,

which he owed me from before where I borrowed him money at the time

he was facing financial problems so I helped out.

 

I borrowed him the money by selling my car because it was urgent that he needed the money,

I have explained everything to the banks security department.

 

supplied them with DVLA log book DVLA Invoice even bank statement of my friends account

where his been paying me slowly for the past few months.

 

They just make you run around like headless chicken,

 

Now the bank replies back saying the documents not good enough,

they want the actual original bank statement where the money came from

they cant accept the online version statement which was given.

 

Now the bank has requested original paper bank statement where the money came from,

and a written letter from my friend saying why he was paying money onto my account

not problem that can be done,

 

but the second problem is my friend had paperfree statement set on his account,

so all the statement was generated online at the time and he has all them online statements.

 

The reason why its stressful because my friends account has been closed completely 2 weeks back,

and he called up his bank two days back to order the paper statements,

 

his bank goes there is no data of you r account anymore cos it has been completely shut down.

 

Now what do I do?

 

This is day light robbery?

 

Am in a stressful situation.

 

Would appreciate it if anyone can advice me on here.

 

Thank you in advance.

[BRIGADIER2JCS]

Looks Like the bank is suspicious of money laundering, your friend needs to write a letter to the bank stating what has happened.

I cannot understand the banks line that they have no data on his account, they are required by law to keep ALL data relating to the account for 6 years after closure, so the way forward would be for him to make a Subject Access Request under the Data Protection Act 1998 (SAR) requiring his bank to supply all data they hold BUT this can take up to 40 days, so I would suggest he goes back to the bank and demand the statements of the account.

[Klandestine]

I cannot understand the banks line that they have no data on his account, they are required by law to keep ALL data relating to the account for 6 years after closure, so the way forward would be for him to make a Subject Access Request under the Data Protection Act 1998 (SAR) requiring his bank to supply all data they hold BUT this can take up to 40 days, so I would suggest he goes back to the bank and demand the statements of the account.

 

The bank are NOT saying they don't hold any data for the closed account.

It's more like the advisor on the telephone doesn't have any access to do anything once an account has been closed. (This is the case with quite a few banks because telephone banking is a way of managing the accounts you currently hold, not the accounts which you used to have).

 

A SAR may not be necessary. It might be enough to put your request for the statements in writing or to visit a branch and allow them to send off a request for you.

[rebel11]

Hi ali

 

Write a Formal Letter of Complaint, mark it as such. Explain what's happened (they won't let you access your own money although you have provided proof), how they have let you down and what you want them to do. Tell them the bank has signed up to BCOBS and are treating you 'unfairly'. Tell them you will take further action not limited to lodging a complaint to the FOS.

 

http://www.consumeractiongroup.co.uk/forum/content.php?827-Examples-of-unfair-treament

 

Send it to:-

 

Mr Niall Booker

Chief Executive

Co-op Bank

[email protected]

[ali321]

Thank you guys,

 

My friend has requested the statements today finally, the customer care person said they will process the request tomorrow Monday, but for some reason didn't sound convincing enough that they actually will send it out, the adviser said it will take few working days for him to get them on post, He also clearly told the adviser will there be any charges or anything what so ever for the request made, the adviser said it will be done for free all they need to do is process it and final. My friend will call them back tomorrow or Tuesday just to make sure, because the banks are never reliable you always have to chase them like xxxxxxxxxxxx!! Excuse my language.

 

 

Thanks again fellow members much appreciated.

[BRIGADIER2JCS]

This " hesitance" by the Co-Op Bank may be due to its appalling management and the mess it is now in.

[citizenB]

ali, is this the same thread

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?422769-The-Co-operative-bank-online-Fraud&p=4519097&viewfull=1#post4519097