Lloyds TSB the T must stand for Tulipe

[jmo21]

It might make sense if it were the SENDING accounts bank that raised the flag and blocked the money leaving, but the receiver? First time I've heard of a bank refusing money!!

[The Spartan]

No, I've never had a problem doing this - although it does trigger a phone call from Personal bank asking for me to contact them. The first time I did they wanted me to book an appointment with them (during the week!) to 'check that my pension and financial planning are meeting my future needs'.

Yeah, right....

Aye they're always trying to sell add-ons for accounts or other financial products like loans and credit cards

[Paddy]

It’s utter madness and it defeats the whole object of banking. It is less hassle using cash. A friend (who is a sitting tenant), his landlord made a call to Lloyds-TSB and accused my friend of identity fraud in order to evict him. Lloyds-TSB froze his account, despite showing Lloyds-TSB his passport etc, three months on his account is still frozen. He may have to seek an injunction.

[The Spartan]

First time I've heard of a bank refusing money!!

Well they're not refusing it they're just stopping me from using it lol, still this will come back to bite them in the rear when I close my accounts with them.

[amcdonald]

I suppose the problem is they have no way of knowing you've issued a dividend, and their automated system flags it up as dodgy

Although if you have your personal and business accounts with the same bank, it shouldn't happen. If you were cynical you might think they want to push you into doing this

[sasguru]

...will come back to bite them in the rear when I close my accounts with them.

Methinks you rate yourself too highly. As someone has observed maybe they want to get rid of you.

[The Spartan]

It’s utter madness and it defeats the whole object of banking. It is less hassle using cash. A friend (who is a sitting tenant), his landlord made a call to Lloyds-TSB and accused my friend of identity fraud in order to evict him. Lloyds-TSB froze his account, despite showing Lloyds-TSB his passport etc, three months on his account is still frozen. He may have to seek an injunction.

Now that is insane, 3 months is long time to have no access to your account.

[The Spartan]

Methinks you rate yourself too highly. As someone has observed maybe they want to get rid of you.

Maybe they do want rid of me, I'm only too happy to go elsewhere and don't mind voting with my feet as I've done previously.

I would just like access to MY money, it's not a lot to ask.

[Scrag Meister]

Absolutely unbelievable, I've already ranted a lot but thought hmm I wonder if this has ever happened to another contractor on here.

I finally paid a dividend and sent the money by fast pay to my current account in Lloyds from my Natwest account in the middle of last week. On Saturday I get a letter from Lloyds stating I need to take in photo ID to a branch as there's been unusual behaviour on my account. I go to the branch in Welwyn today and it turns out they want more information and won't unblock my account until it's provided. Now I didn't pay a large dividend to begin with but they wanted proof of my association to the business account coupled with proof that I sent the money from Natwest to Lloyds.

I spoke to the fraud team and they were about as useful as speaking to an offshore call centre, I mentioned to them in the 2 hours of my time they had wasted through all this palava I'd be seeking to reimbursed financially. Still I've no access to my money at the moment has anyone else ever experienced such genius customer service?

I bank with Lloyds and have never had any issue when transferring large dividend payments, 20k-30k.

[vetran]

I suppose the problem is they have no way of knowing you've issued a dividend, and their automated system flags it up as dodgy

Although if you have your personal and business accounts with the same bank, it shouldn't happen. If you were cynical you might think they want to push you into doing this

the banks have form for emptying business accounts to pay off authorised personal account overdrafts.

Keep them separate !