Bank restricts access to bank account

[merights]

So long story short

Disabled Single mum with hypertension, panic attacks and palpitations of 2 young kids

Lost job months ago

Things are very hard
My parents& family decided to send me money to help pay bills and groceries and medications etc

£1500 was sent but the money was seized by the bank since Saturday
They asked a few questions like who the sender is to me and where the sender got the money from & what I am going to use the money for and that once answered, they will reply with an hour

They said I should answer all the question I can etc

I did answer the questions I could and I still do not have access to my money

My elderly parents sent lots of documents of their means of income from their properties which they rent out etc which I sent to the bank today

The bank also asked for chats with date etc with sender of the money. I got screenshots which I sent to bank today over 2 hours ago.

I am starving and kids too
My BP gone through the roof
Still no access to my money.

What right had the bank to do this to me? Holding my money and restricting access to my account for over 48 hours.

What else can I do? I am in tears here
My parents work hard for their money & I have always worked hard for mine until unemployed few months ago

Uh yeah you've basically made the transaction look as much like money laundering as humanly possible. Maybe don't do that next time and then you can have access to your money.

Ok, they can’t go to the post office for a postal order if they’re not in the UK. But ask them to just PayPal you instead, then you can get the money out of PayPal the usual way and it won’t look weird. You can pay them back when Monzo release the original payment.

Sorry, I agree with anyone else. Banks and EMIs are under a lot of scrutiny at the moment and this has so many red flags over it not least the fact you're also being evasive in your responses in this thread

I would advise people to tread carefully. None of us knows the OP, people are advising her what to do so the next transaction doesn’t look like money laundering, when there’s every chance this one is.

What? All we can do on an advice forum is give advice about the information presented. We do not have to be detectives or sit and figure out what could or could not be true and then offer advice on our made up assumptions. No one is going to get in trouble for offering advice, no one is doing anything wrong by offering advice. She needs to money, her parents are legally sending her money. That’s all we know and all we need to know.

@IAmThe1AndOnly
The fact that bank is holding the money does not mean is money laundering
I have nothing to hide my parent are hard working and so am I even though I am disabled.
My parents send me money from time to time from abroad through the same beauru de change and never had any problem before the mistake I made was not using
my normal account but then over 48 hours is too long to restrict money especially to a vulnerable person.

If it was money laundering, you think I will have the guts to be pestering the bank non stop etc

Next time use western Union or something similar

@WarshipRocinante I am surprised too by that statement

Smh

@Banana1979 yes thanks western union is better than this headache.

Like I said, they have sent money to me before using same method only mistake I made was using my Monzo & all of a sudden my hardworking parents and myself have been classed as money launderers even though the bank hasn't said so🤦🏾‍♀️

That won’t help - it’ll seem even more unusual if you go from zero to ££££ coming in overnight.

No-one is saying that you are engaged in money laundering. However, as others have pointed out, there are multiple things in what has happened here that would raise concerns for the bank. They haven't classed you as money launderers. However, because your parents sending money in this way looks suspicious, they are required by law to conduct due diligence checks.

I understand this is causing huge problems for you and I sympathise, but I don't think the bank has any choice in this situation.

@prh47bridge
the last post by @IAmThe1AndOnly says

"I would advise people to tread carefully. None of us knows the OP, people are advising her what to do so the next transaction doesn’t look like money laundering, when there’s every chance this one is."

Note the last sentence by @IAmThe1AndOnly

I know the bank is got to do their duty but what I am saying is it should not take 48+ & I have informed them of my vulnerability etc.

Yes I do have another account but it is not easy for them to send funds from abroad + they are elderly

Like I said, they have sent money to me before using same method only mistake I made was using my Monzo & all of a sudden my hardworking parents and myself have been classed as money launderers

OP, I understand your having two bank accounts - it's normal - but I'm not understanding your rationale for switching the account you asked your parents to send the money to, and your reasoning(s) above.

It could be relevant to the reason for the delay in clearing the money.

Sorry - didn't notice you were replying to another post and hadn't read that one.

I'm afraid many banks have tightened up as the FCA has increased the number of fines it is issuing for banks that fail to have adequate AML processes in place. Unfortunately, once a transaction has been flagged as suspicious, investigations often take days or weeks. I understand that you need the money urgently, but I'm afraid the bank can't shortcut the process for anyone.

They are also not legally allowed to discuss any suspicions of money laundering with you as that is a criminal offence of Tipping Off in it's own right. Why are you so reluctant to say which country the funds originated from?

OP I assume in your situation you are receiving some benefits? If you are really starving have you tried food banks or reaching out to the local community?

It’s the way the money was transferred to you that’s the issue - red flags all round

This!

If you are really "starving" surely your parents can order you an online shop to
Last until the bank release "your parents" money

The trouble is that lots of people get into exactly this scenario and it IS dodgy.

Sometimes they are being used as a money mule (which is an often-vulnerable person who is told/ tricked into having their account used for money laundering). They’ll be told to say that the money is from a relative.

Or the money is ultimately from a sanctioned country/ person. Using an intermediary doesn’t stop that being a problem. Is that behind your reluctance to say what country your family is in?

My parents can't order me food online, they are elderly and don't know how to use all these latest tech and IT systems

I have sent proof of income for my parents to the bank. They are genuine hard working people and not money launderers

So what country is the money from?

But if it was fraudulent and a vulnerable person was being financially abused 48 hours wouldn't be enough time especially when banks are not open at weekends

The fact you are vulnerable and have no money unfortunately doesn't mean they can use a magic wand and make it go away, they will have a process to follow

I've always found Monzo decent tbh

The issue is not the country where my parents are because I have received similar amounts and even a bit more from them without any problem through my other bank account

Well unfortunately there's not much more you can do, you've provided the evidence. You've told them you are vulnerable. You've complained on SM.
Just keep pestering them and maybe ask for a temp overdraft or something to see you through?

The issue might be which country they’re from. Sanctions change.

So do definitions of who is a ‘politically exposed person’, which might be another issue if your parents do/did anything to do with government or politics. Again, that will vary by country.