CO-CO
Rather wrinkly & occasionally cantankerous member
Just a quick heads up. Two stories came to my attention today.
The first is perhaps of no concern to most - Starling bank have frozen the account of a friend pending investigation. They mentioned a large number of Transferwise transactions, including many to Thailand. This is a genuine business account with many receipts via card processing via Worldpay. Supplier payments are often to Spain and Poland. The account is also used to fund personal Thai expenditure.
Personally, I think this is a Money Laundering probe. I would be concerned if it was targeting customers using Transferwise.
Another friend of a friend said that LloydsTSB had given him 2 weeks to prove that he was resident in the UK, or close the account. Nothing unusual about the account, 3 pension payments in then payments out to Thailand. This one does concern me; if they are actively reviewing non-resident accounts it could cause a problem for many.
The first is perhaps of no concern to most - Starling bank have frozen the account of a friend pending investigation. They mentioned a large number of Transferwise transactions, including many to Thailand. This is a genuine business account with many receipts via card processing via Worldpay. Supplier payments are often to Spain and Poland. The account is also used to fund personal Thai expenditure.
Personally, I think this is a Money Laundering probe. I would be concerned if it was targeting customers using Transferwise.
Another friend of a friend said that LloydsTSB had given him 2 weeks to prove that he was resident in the UK, or close the account. Nothing unusual about the account, 3 pension payments in then payments out to Thailand. This one does concern me; if they are actively reviewing non-resident accounts it could cause a problem for many.