AIBU in asking anyone who works in Metro Bank to answer this question?

[CakesTeaCakesTea]

What does code PR18 mean?

Long story short: Bank is closing our company account but won’t tell us why. When my DH was at the bank and querying this decision he heard staff whisper this to each other and raise eyebrows towards him.

The business is completely legitimate and so are we!!! We are taking this further but I am desperate to find out what this code means......please help🙏 This will cause us so many problems and I really need to find out what’s going on!

There are a lot of new regulations coming in for banks - well, actually being imposed on them by foreign governments - which have resulted in several banks just unilaterally closing accounts rather than deal with the burden of complying with them.

There is a big one from the US for example where institutions are being made to report on US citizens' finances (name escapes me at no).

You mentioned overseas trading/income so it could be as simple as that.

It sounds like it is fraud related to me. And if that's the case it's very unlikely that you will get a straight answer as there are regulations around tipping off etc.
If you make a SARS request this type of information will very likely not be disclosed in the response for the same reasons.

How are you supposed to clear your name if you are accused but not charged of an offence that no one will tell you anything about!!! Oh god. Banks get to be judge and jury.

But you haven't been accused of anything. Please stop taking it personally (easy to say I know, sorry). You are one of many caught up in what is almost certainly a new bank policy based on some regulation or rule, to make life easy for themselves.

You can make a SAR but if they have filed a suspicion of money laundering they won't disclose that to you.