Evening all,
Is the anyone out there who can advise me that, my bank account has been frozen now for 6 weeks I have read that the nca have until that time and then hand it over to the bank again, l have contacted RBS but they still will not say anything, and l have not recieved any other news.
My question is what do l do now?? contact a solicitor or wait longer??
Jean Paul
Replies (6)
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You raised a previous query last month
https://www.accountingweb.co.uk/any-answers/rbs-block-account
Has the account been frozen for 6 weeks now?
David
Part of your problem is that you don't know when the bank submitted a report to the NCA & you don't know when the bank received a refusal of consent from the NCA.
The moratorium period ends 31 days after the bank receive the refusal from the NCA.
That period may not quite have expired yet (especially as there was a Bank Holiday at the beginning of May).
So you may want to wait a few more days before getting a solicitor to write to the bank.
But I would expect the bank to write to you in the next few days.
David
I think it's outrageous that banks can, even on flimsy suspicion, get NCA involved and prevent you accessing your legal funds for however long it takes. Whether six weeks or 31 days or whatever is immaterial. Being locked out for anything more than a few hours can cause some businesses serious difficulties.
It's not down to the bank it's the law.
You are quite entitled not to like the law if that is your view, but blame Parliament not the bank..