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Co op Bank account frozen due to LocalBitcoin Scammer

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I have a personal account with the coop bank, which I've been using to trade Bitcoins on localbitcoins.com. I recently had a trade of £1250, for about 7BTC. The buyer paid into my coop bank account, & the escrow was released for the bitcoins.

 

A few days later I received an email from the coop's fraud department, saying the buyer's bank had claimed that the buyer hadn't received their Bitcoins, & they wanted the payment reversed. The coop froze my account (which had a balance of £250) & requested "proof of entitlement".

 

I obtained screen-shots of the trade, proving the bitcoin was released, & attached them to an email. this occurred over a week ago, & I'd heard nothing back, so Yesterday I phoned the fraud dept. for an update. I had a conversation with a very impolite woman, who said "the evidence you've provided isn't sufficient, we require a signed receipt".

 

I explained to her that the transaction is conducted online, with no physical meeting, so there is no signed receipt. She said "your account will be closed Tommorow if we don't receive adequate proof" - ?

 

 

I did question the fact that she hasn't forwarded my proof to the other parties' bank, or seemingly done anything with it. She had no tangible answer for this.

 

My issue now is, I want my £250.00 back. This bank is shocking, can anybody pls let me know the best way forward - surely I can demand the return of my funds?

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Can anybody provide any help with this? Is discussing Bitcoin not permitted on CAG? Lots & lots of views of this thread, & not a single chime from anyone

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Hi,

 

I don't really know much about the Bitcoin transactions on Bank Accounts but it seems what's happened to you has happened to others regarding trading in Bitcoins.

Very unlikely you will ever be told why the account has been closed but ‘a commercial decision’ to close it, is the usual answer.

 

I'd think there's no way they can keep your £250, have you asked for it back recently.


 
 

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You might need to escalate this to the Financial Ombudsman. It is happening far too often where people's bank accounts are closed for no reason whatsoever. It looks to me as though Bank Staff don't understand some transactions and automatically scream fraud !!

 

Interesting when you know that the likes of HSBC and Barclays bank were shamed because of their Money Laundering

 

http://www.dailymail.co.uk/news/article-2174785/HSBC-scandal-Britains-biggest-bank-let-drug-gangs-launder-millions--faces-640million-fine.html

 

 

HSBC let drug gangs launder millions: First Barclays, now Britain's biggest bank is shamed - and faces a £640million fine

 

HSBC moved huge sum from Mexico into the U.S. between 2007 and 2008

Provided services for Saudi Arabia's Al

Rajhi Bank linked to financing terrorism Senate investigation suggests they also moved money tied to Iran

Accuses bank of 'pervasively polluted' culture

Another hammer blow to the credibility of British banking system after Barclays was fined for allegedly rigging LIBOR interest rate

 

 

Read more: http://www.dailymail.co.uk/news/article-2174785/HSBC-scandal-Britains-biggest-bank-let-drug-gangs-launder-millions--faces-640million-fine.html#ixzz3q94Jf9Ht

 

 

And they close your account for £250 !!


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It's also not an actual currency. It may be accepted by some institutions, but its not an actual currency.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

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