I tried verifying my account by providing the security code on my top up transaction and received a pop up saying my account/card was verified but I … 1) Unpaid private loans. However, if you know none of the reasons did not happen in your account, you have a good case with the bank. There are many reasons why a bank or financial institution may make a SAR, some of which are listed below. But they don’t have to tell you ahead of time, and they won’t always tell you why. A Ajinkya kadam28. I am using paytm from a long long time but when I wanted to do a money transfer on * march **** it's showing my paytm payments bank account is blocked temporarily,its a debit freez I can receive money but can't able to debit they blocked my account … - Bank account blocked for no reason Open SHIW KUMAR CHANDRA RAVI filed this complaint against PayTM on Mar 09, 2020. The next minute your payment is declined, and you discover the bank has blocked your account. Bank have blocked my account Help! Finding out that your bank has blocked your account isn’t a great experience. You can even go as far as suing them. Note that the bank has been sending text messages and e-mails to such SBI accountholders whose KYC is incomplete in order to remind them to complete the process as … Give me my money back and then block. (You can skip down to paragraph in bold if you don't want to read everything.) I understand your frustration. The bank also said in the public notice that if an SBI customer fails to complete one's KYC by February 28, 2020, then it will have no choice but to block such SBI accounts till the KYC is completed. Your account might be blocked due to two major reasons. If you feel a bit hesitant about opening a basic current account, you’re not alone. Kindly Share This Story. You might not understand the reasons why it’s happened, and feel powerless to put things right. Savings accounts View all savings accounts; In this section; Business Everyday Saver; Business Reward Saver; Fixed Rate Business Bond; Client Saver; Treasurer’s Savings Account; Tools and guides ; Branch locator; Support; Alternative sources of finance; Money worries; Lost or stolen cards; Account alerts; Online Banking; Changes to your savings account; More support articles; … This is *** I put in my password in wrong one time and it locks me out? If you have your account closed, it will be difficult to find another bank or credit union that is willing to work with you. 23 May 2014 at 3:30PM edited 23 May 2014 at 3:44PM. You never get a good phone call. A bank can suspend an account if there is a dispute about how an account is used or who owns the funds in it. Some bank accounts cannot accept Direct Debits; they may be closed, or blocked either for regulatory reasons or by the customer. I have also filed an official complaint with the bank with regards to this situation. Oyetunji Abioye. However, there are other reasons your bank account is frozen: You have breached your credit agreement with your bank; A freezing order has been obtained by one of your creditors ; The company has given notice of another insolvency … If you suddenly had a payment declined when you know there’s money in the account, it could be days before a notice arrives in the … And it’s obviously distressing if you know you’ve done nothing wrong. Your account may be blocked if the bank believes you are not KYC compliant whereupon you would need to demonstrate to your bank your identity and proof of address. You might have either exceeded your account storage or a suspicious spam activity might have been detected in your account. We know they are annoying to deal with and our recovery flow is still not optimally built to deal with all possible scenarios. I can do your bank case etc. If you receive one of these messages, you will not be able to set up a Direct Debit mandate on the account. The scheme was established under the Dormant Bank and Building Society Accounts Act 2008, and since its 2011 launch, the UK’s largest banks and building society have transferred funds from dormant accounts into the scheme. on May 6, 2020 . I cannot stand for this. The bank can't freeze an account without reason, but there are certain times when the bank has authority to freeze an account whether you want them to or not. It could be that the transaction does not make commercial sense. Go to the head office of your bank and make a formal report to them. Knowing when a bank can freeze an account may help you avoid a lengthy argument with a bank representative. If they blocked your account because they suspected some form of suspicious behaviour/money laundering - they are legally prevented from telling you that is why they blocked your account. If they require documentation from you, sometimes it is possible to send by email to them. I have the actual answer!!! It could be that the customer has been acting unusually. Other times you or someone else with power of attorney needs to go to the Bank in person. So we wanted to share some more information … Regards Sunil . Here are 7 reasons to freeze your bank account. My account is blocked for no reason. My account is 3 years old and my Mastercard is expired as well that's why I have ordered a new Mastercard last month to my address which is different from my National IDs address. With a blocked bank account, you need to contact the Bank. As stated, the main reason you may find your company bank account frozen will be a winding up petition has been advertised in The Gazette. Here are some common reasons why accounts are locked, though not all account locks occur for these reasons: Malware, phishing, and other harmful activities. 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