It is not likely that the bank is trying to trick your friend; it is more likely that the bank needs to verify his identity and personal information to protect his account. Has he been in contact with the corporate customer care line, the fraud department, or his home branch? Call us on 0207 632 4300. Here’s what you should do if your bank account is frozen for a debt or judgment: Your bank may be able to tell you what specific transactions triggered the freeze and will walk you through what documentation could help unfreeze your account. One minute you’re minding your own business, buying groceries or doing a little shopping online. By far the most common is suspicious activity (point 3 below), but two other reasons are quite common: Thankfully, banks act to protect us in a number of ways, and freezing accounts happens to be one of them. "}},{"@type":"Question","name":"WHY MIGHT A BANK FREEZE AN ACCOUNT? We may receive a payment from JMW Solicitors LLP further to this referral. Examples of this include: If a bank does suspect that something is awry with the account, and whether they suspect you or a fraudster is behind it, they will make a Suspicious Activity Report (commonly called a ‘SAR’). If you didn’t keep a copy of your customer agreement when you opened the account, we’ve collected links below where you can download customer agreements for the top five retail banks in the U.S. There’s no law that limits how long a freeze can last, and banks don’t publish policies on how they make decisions about account freezes. If you can’t find out a specific reason for the freeze, or you think it was done in error, you should get legal advice. If you have someone else’s name on a joint account with you, and that person owes money, your account could still get frozen. To protect themselves, banks will cut off accounts that could possibly be involved in crime, even if there is no proof. They will try to trick you into giving them access to your bank account. "}}]}, 247 High Road, Wood Green, London, N22 8HF. You are strongly advised to obtain case-specific advice from a Lawyer about any legal proceedings or matters and not to rely on the information or comments on this website. It’s a good idea to look at your ChexSystems report, just to make sure the information is correct. seized and handed to HM Treasury- via an Account Forfeiture Notice or a Forfeiture Order. ","acceptedAnswer":{"@type":"Answer","text":"Having a bank account frozen is highly frustrating and can have serious consequences for an individual’s personal and business life, as important payments from mortgages and childcare to loan repayments and supplier invoices will go unpaid.\n\nDespite this seriousness, however, there is no realistic chance of obtaining any compensation against the bank or NCA, even if they do not find anything suspicious in their investigations. You might not do any suspicious activities yourself, and the suspicious transactions might not have happened in the same account that you’re dealing with. That includes everything from one-off contactless payments with your debit card to recurring direct debits and standing orders. Why do you think they keep insisting he comes in? If your bank suspects that your bank account is being used to commit crime, or money laundering, it will make a suspicious activity report (SAR) to the National Crime Agency (NCA) who may investigate you if they see fit. Frustratingly, the banks are not allowed to tell you anything about any investigation being carried out on your account. Creditors can freeze your account for any type of debts, including: It may not even be your debt! In this instance, you will usually receive a call from the bank’s fraud department, who will explain the situation and walk you through how to restore access. A SAR is the means by which banks are able to report unusual activity to the National Crime Agency (NCA). Banks in the U.S. have to obey a very complicated system of federal laws. You’ll also need to report ID theft to the police, the Federal Trade Commission, or both. Sometimes, the freeze only lasts a couple of hours, so you may not even notice it.\n\nTo repay a creditor following a court judgment\nIf someone has taken court action against you because you have failed to pay back a debt, they might be able to recover that money from you if you otherwise fail to pay them back (for example, by willingly paying them what you owe). We have partnered with Law Share from JMW Solicitors LLP to refer instructions and clients to them, when we are unable to act. This means providing them with information they request in a timely manner (which may be about your personal or professional life) and acting cordially to those who are in charge of your case. How to get money from a closed bank account is a matter of cooperating with the bank who will be looking to get your money back to you. These strict regulations are in place to ensure that bank account owners are not ‘tipped off’, which could, in some circumstances, lead to more criminal activity.

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