Bank Acct not explaining | AccountingWEB

Bank Acct not explaining

A friend of mine [honestly] went into bank to take out a large amt of cash that he had ordered [his business deals in a lot of cash purchases].

The bank wouldn't give him the money [the money was in the acct] and would only say 'we currently can't process your transaction'; when he pushed them they gave him a letter saying exactly the same thing. Basically his acct has been frozen and he can't find out why.

His solicitor seems to think that if it was the police they would have had to serve a notice on himabout it??

Is there something whereby the bank has reported him as potential money laundering and there is a 48 period for HMRC to make an assessment??? Or is it more likely that he has actually been on HMRC radar and they have frozen it??

He's a legitimate trader with about 25 Eastern European workers all about to go home tomorrow for xmas and he can't pay them!!! Similarly he has a lot of local suppliers that he can't pay??

His solicitor has faxed a letter to the bank expalining the effects...but is there a way he can find out for definite why it has been frozen????




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Regular orders for large cash withdrawals?

ShirleyM |
ShirleyM's picture

Money laundering suspicion?

davidwinch |
davidwinch's picture


Cant Add Up |

David...couple of follow up

Cant Add Up |

After 7 working days

davidwinch |
davidwinch's picture

Thank you very much David.

Cant Add Up |

Well . . .

davidwinch |
davidwinch's picture

My client

petersaxton |
petersaxton's picture

What happened to innocent until proven guilty

Company Accountant |

It's the only part of UK law where this applies

Glennzy |
Glennzy's picture

Innocent until proven guilty

davidwinch |
davidwinch's picture

No this is not the only area with 'inverse burden of proof '

Chris Smail |
Chris Smail's picture


awhite750 |

Personal halifax account frozen

awhite750 |