Legacy Business Accounts. The worst!

What did Revolut reply?

This is what they tend to reply with.

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Your correct, however nowadays it’s impossible not to be suspected of money laundering, even with the most truthful and legitimate banking history, that’s not the issue, issue being your account immediately frozen…review after.

I’m guessing that this is a regulatory requirement taken to prevent suspected criminal activity from continuing or to prevent a criminal realising they’re under investigation and moving all their money out of the account.

It does sound like Monzo’s review process could be made quicker, but this could be a police rather than a Monzo issue.


I was referring to a universal banking process, not Monzo’s review process my community member buddy…:rofl:

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I find that hard to believe


Each for their own.

Well call me Mr Impossible because I’ve never had that issue. Even when transferring inheritance, house deposits etc.
All gone smoothly.

Indeed. I have worked in financial services and legal sectors as permanent and contract staff. Anti Money Laundering training is mandatory for everyone. If you warn someone that they’re suspected of money laundering, that’s called “tipping off” and is a criminal offence - you yourself can end up in trouble with the law. Banks don’t give you a reason if that’s what they suspect because they can’t give you the reason.

This is why business accounts in particular are so hard to open and why irregular transaction patterns can cause you to be asked probing questions.


What’s life, if you don’t have a few complications in it?

HSBC is driving me crazy. They keep putting holds on my account, but instead of telling me what is going on they give me really weird random error messages on the website. I hate having to call them or go into a branch to get things straightened out. And it never is my fault. I think they just like to harass me.

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Just like Tesco…however the staff laugh at you when you call them

Because in case of a complete IT fck up, you can still bank at the branch and pay your staffs?

Um, no, that’s a common misconception. If the bank’s IT systems are down, it’s game over, as even branches rely on them. Best example was the TSB debacle last year, which left branches paralysed (they couldn’t do anything).


What kind of transactions are causing this Jodie. I’ve never had an issue like this on my HSBC account.

Depends which part.of the system is down. They use a really old looking DOS like system in most branches I e been in, which is completely separate from anything web facing. So it depends where the broken link is


They keep putting holds on my accounts for various reasons that they usually don’t really explain (although last time it was because for some reason Royal Mail returned mail they had sent to me and I have no idea why that would happen either). Then when I try to transfer money or make a payment, the website gives me some strange message like “You need to set up a limit first” or something like that which is not at all the real problem. But of course I initially think they are telling me the real problem and try to fix that, which just wastes a lot of my time because that was never the problem in the first place but they won’t tell me what is really going on until I call them. This happens frequently to both me and my husband. In the past year I have had to call them at least 15 times, and go into a branch with proof of identity 4 or 5 times. I have definitely had it with them and am going to switch to a new bank.

Sound like they have incorrect details for you. Are your id documents, details on electoral roll and details they hold identical?