Bank froze my account when I tried to transfer £50,000 to another bank. Be aware!!!

You might be a dangerous terrorist funding underground operations, only the government can do that.

Send the money to Ukraine and you'll have it unfrozen.

i keep my accounts at about 5-10K and pull out the excess every month, convert to hard currency.

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See, it's NOT your money.

Legally, it is the bank's property, to do with as they will.

You are just an "unsecured creditor."

OP, you shoulda tried to withdraw all funds first, then if it's your will, go fund a new account elsewhere.

It's for your own protection. Really, it is!

More like protecting the banks but yeah, they can do it.

It's over-zealous security but with all the scams lately they are under pressure to prevent fraudulent transfers.

That's put my mind at ease slightly... I didn't know there were any scams lately. Maybe everything will be fine tomorrow when I go into branch.

See, it's NOT your money.

Legally, it is the bank's property, to do with as they will.

You are just an "unsecured creditor."

I tried to send £50,000 (it's all I have) from my Santander account today to another bank. Immediately they froze my app and my account.

I went to the local branch, and they told me tehre is nothing they can do as I have to call Santander security myself.

I called them and was on the phone for over an hour- I'm not kidding. They told me they wanted me to bring in my passport into the branch in the morning, and go through questions with the staff.

I am beyond boiling with rage. Absolutely furious. This is my money, and- just like that- the bank can freeze it on you and hinder you from withdrawing it.

I'll go in tomorrow meek as a mouse, and hopjokingefully I'll be able to withdraw it all. It's an absolute disgrace that they are able to do this.

Just a heads up to anyone with money in bank accounts. I think they're told to be obstructive like this also.

Brilliant advice, and you're absolutely right.

I just didn't anticipate facing this situation. They're making me feel like a criminal. It's complete lunacy. Boy have I learned from this situation. I'm wise to how low these banks will stoop.

The security guy today kept telling me; "It's for your security". Like he's trained to try and brainwash customers with this mantra.

They probably have it tied up in their own investments

:9teen: Yes. Most people will probably have forgotten, but they will have received a pile of bumph from their bank back around 2011 - 2013. That was the legal paperwork setting all this up.

Tell me you're doing the sensible thing and investing all of that into BTC?

Thank you for confirming our suspicions.