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F E Smith
F E Smith, Solicitor
Category: Bankruptcy Law
Satisfied Customers: 18744
Experience:  30 years in general practice.
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The bank has freezed my account dor the second time now and

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The bank has freezed my account dor the second time now and is not answerinf to
Assistant: Where are you? It matters because laws vary by location.
Customer: mu questions why they done it im in uk
Assistant: What steps have you taken so far?
Customer: Went to the branch, they said they will call
Assistant: Anything else you want the lawyer to know before I connect you?
Customer: me, i called them they said they will be intouch
Customer: replied 2 years ago.
There were two large transactions but it came from my work as dividents each 10k so all legit and today i paid in 3000 cash into account and they freezed it, i want to plan my holidays for next week etc and i cannot use the money i put in , so iseally i would want a lawyer to get intouch with them
Asap
Customer: replied 2 years ago.
Is someone here?
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Oleksandra-Moderator

Thank you for the question. I have been asked to look at this for you.

I’m afraid that we are specifically not allowed to take instructions from here.

If the site were to be a source of potential clients, we would no longer be independent because we would have an interest in pursuing litigation. With no interest in pursuing litigation, we can be really objective with our view is to whether something has a good chance or a limited chance of success.

In any event, for logistical reasons you would be better using a local solicitor .

We can only point you in the right direction.

How long have you worked for the employer for?

Are you a shareholder or director?

You say that the dividends are GBP10,000 each.

What would your normal monthly salary be?

Where did the GBP3000 cash come from?

Based upon all these unusual transactions at the same time, the bank’s actions are not surprising.

If you let me have the above information, I can tell you possibly how to deal with this although it may not be quick.

You say this is the second time. Please explain what happened the first time and tell me how long ago was the last time and how long ago is this time. Thank you

Customer: replied 2 years ago.
I am a company director so it was dividents that came through the company 10k each, 3 k in cash was money owed from my friend from long time ago that he has given to me in cash, my salary is 46k a year from this month onwards before that was 11k a year plus dividents, last time the freezed the bank account couse there was some large transactions to foreign bank account in spain as a deposit for a house and paying off mortgage part payment in here explanation was made that funds came from car sales which at the time i had receipts from dvla in the region of 40-50k the cars were at first taken by loan and paid off gradually, some money was given to
Me by family members from lithuania mum dad sold there peoperty there gaved me cash in the region of 50k not at one time but they were helping me to put up money to pay for mortgage here in couple of years time i saved up the cash etc, so these are my answers to you,Do you know how long will
It take for them to come back to me couse i havent heard nothing from the bank yet?
And since they unfrozen the account from the first time will they be asking questions about the transactions from first time as well as second time thay freezed or how does it ussually happen? Should i seek expert help straight away? What are the posiblle outcome?

Looking at these transactions I am not surprised that the bank has frozen the account.

All the transactions previously would ring money-laundering alarm bells.

They may have decided that the transactions were legitimate in the end but they will remain in the system as a flag and if there is any more “unusual activity” it would flag up on the latest wave of activity and it would flag up the previous activity.

What has happened is that they will have reported this to the Serious Organised Crime Agency who will investigate whether this is legitimate money or whether there is any suspicion of money-laundering.

SOCA move at its own pace and they used to take a couple of weeks but I understand they are taking longer.

Meanwhile, the bank and not able to actually tell you what I have just told you. They will just fob you off. There are only really 3 ways of dealing with this and the first one will be a waste of time.

{C}1 make a formal complaint in writing to the bank

the second one will be slow

{C}2 make a complaint to the Financial Ombudsman service which is not going to be quick and

{C}3 In the third one is probably the way to go because it will focus their mind once they get the legal proceedings and although it could easily be 6-12 months before anything like this got to court, they will have carried out their investigations long before then. The third one is to issue county court proceedings for the money or probably better, for an injunction to compel them to unfreeze the account you could probably get an injunction within a week.

You may find that a strongly worded letter from a solicitor threatening a court application and an application for costs, may focus the mind without actually the need to get to court.

The above really are the only options because you can’t beat the bank with a stick until such time as they unfreeze the account.

Can I clarify anything else for you?

I am happy to answer any specific points arising from this.

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Thank you.

If you still need any points clarifying, I will still reply because the thread does not close.

Best wishes.

FES

F E Smith, Solicitor
Category: Bankruptcy Law
Satisfied Customers: 18744
Experience: 30 years in general practice.
F E Smith and other Bankruptcy Law Specialists are ready to help you