Bank froze one of my accounts

[hunton69]

Has anyone experienced their bank freezing a bank account because you haven’t filled out a business profile.
After 30 years they want me to answer numerous questions about me yet I have 2 mortgages with this bank and another business account plus some personal accounts
The account that is now frozen has money in and I cannot access that money

[Simpo Two]

Time as a customer accounts for Jack st; that went out years ago.

I suspect it is (rightly or wrongly) an AML thing. Like PayPal, if you don't send them your shoe size on demand, they freeze your account. It's the caring sharing world of modern automated banking, and yes your call is very important to them...

[Northernboy]

Many old accounts won’t have had sufficient checks done to comply with current standards, and so banks are required to fill in the gaps.

Not giving them the information when asked is a bit of a compliance red flag, and so they will often take the decision to freeze the account,rather than risk being fined.

Remember, HSBC were fined ten billion dollars for not having carried out rigorous enough checks on their customers’ businesses.

I know it’s a pain, but it’s a reasonable request from the bank, and you’re probably best off playing along.