Did a bank switch and the new bank got closed

Udueie

2

I did a bank switch and the new bank got closed aswell as the old one… what will happen nkw?

Reply 1

DataVenia

Volunteer Team, Clearing and Applications Advisor

21

Original post by Udueie

I did a bank switch and the new bank got closed aswell as the old one… what will happen nkw?

Presumably you're saying that the new bank account was closed - not the bank itself?

Have you contacted the new bank to ask for an explanation? Have you contacted either bank to establish where your money is right now?

Is there a chance that you're subject to a CIFAS marker?

Reply 2

Udueie

OP

2

Original post by DataVenia

Presumably you're saying that the new bank account was closed - not the bank itself?

Have you contacted the new bank to ask for an explanation? Have you contacted either bank to establish where your money is right now?

Is there a chance that you're subject to a CIFAS marker?

The new bank said they will send me a letter to explain why. I sent money to someone on my other bank account before I switched but it was put on hold because they thought it was suspicious. I’m wondering what will happen with that money?

Reply 3

DataVenia

Volunteer Team, Clearing and Applications Advisor

21

Original post by Udueie

The new bank said they will send me a letter to explain why. I sent money to someone on my other bank account before I switched but it was put on hold because they thought it was suspicious. I’m wondering what will happen with that money?

You say you, "sent money to someone on my other bank account before I switched". If this was put on hold, then you'll likely need to wait for that to be resolved satisfactorily. Why would they think that you transferring money to someone else is suspicious? People transfer money to other people all the time. Also, what "other bank account"? So you had two accounts before the switch? Were these two accounts with the same bank or with different banks?

Was this the full balance of your old account, or was they still some money in it when you transferred to the new bank? I guess you just have to wait for that letter to work out what's gone wrong. My guess is that your old bank have assigned a CIFAS marker to your details based upon the suspicious transfer, but you'll need to wait for the letter to find out for sure.

Reply 4

Admit-One

Universities Forum Helper

21

Original post by Udueie

The new bank said they will send me a letter to explain why. I sent money to someone on my other bank account before I switched but it was put on hold because they thought it was suspicious. I’m wondering what will happen with that money?

It'll usually be returned to you in due course if the bank are comfortable it's not the proceeds of crime. They might sk for evidence as to what it relates to.

If the suspicious activity was in your old account, then I suspect the previous bank have placed a CIFAS marker on you and that's how the current bank were notified.

I'd wait for the letter and then get a copy of what's on file with CIFAS.(https://www.cifas.org.uk/dsar)

Reply 5

Udueie

OP

2

Original post by Admit-One

(Original post by Admit-One)It'll usually be returned to you in due course if the bank are comfortable it's not the proceeds of crime. They might sk for evidence as to what it relates to.

If the suspicious activity was in your old account, then I suspect the previous bank have placed a CIFAS marker on you and that's how the current bank were notified.

I'd wait for the letter and then get a copy of what's on file with CIFAS.(https://www.cifas.org.uk/dsar)

Do you think I would still be able to call to prove it was me? Or would it be too late

Reply 6

Admit-One

Universities Forum Helper

21

Original post by Udueie

Do you think I would still be able to call to prove it was me? Or would it be too late

Probably too late if the account was closed rather than them contacting you. Depends on a whole range of things - what the payment was actually for, how much, how frequent etc etc.

The letter should at least give you some idea why they took issue with it.

It's not whether it was you or not, it's whether it was in keeping with the activity of a current account.