/biz/ - Business & Finance

>we'll just freeze your account and within the next 2 and a half months a member of our team will get back to you

your fault for using some shady OTC p2p shit, why not just use coinbase? I've cashed out over £250k this year from CB and had 0 problems whatsoever. although i've also paid my CGT too, they probably think youre a tax fraud.

just send them your paycheck as proof of funds anon

use revolut

>>53122107
The only way to get anything fixed is to repeatedly call them until they can't stand you anymore

>>53122183
how is localcryptos shady? and its not like all banks accept payments from CB either, in fact Nationwide were known for being unfriendly towards CB payments.
I don't have paychecks, I bought crypto at various points from 2016-2020 and my wages were paid into my account. I can show them the times when I bought crypto with direct debit but since I cant access my account how am I supposed to show where the money I used to buy them came from?

>>53122201

revolut are even more likely to freeze your account. nationwide are not known for freezing accounts due to 1 crypto tx, the problem here is clearly the shady p2p website this fag used. again, why not just use CB?

>>53122201
I'm gonna get a revolut account but what should I do about this particular case? Just close my account with them? I have an overdraft of like 1k with them so i'd need to pay that back first.

>>53122229
>implying the retarded wagie that answers your calls is able to unfreeze your account

>Oil you got a liocense for that crypto transfer m8?

When Pol memes are real

>>53122252
>how is localcryptos shady?
its shady because the account which sent you the funds is probably flagged for laundering (who knows why but doesnt matter), so you receiving funds are now flagged too :)

>>53122343
its possible i suppose. he's like the top trader on the site with thousands of trades. what should i do?

>>53122107
Make an appointment with your branch to go in and discuss it and take every piece of evidence you can think of, your laptop so you can show them the exchange site etc. You should be able to get this sorted there and then. Trying to do this sort of thing via emails will take forever. Face to face is the way forward in circumstances like yours.

>>53122122
also can anyone clarify if theyre asking for bank statements of the guy who sent me the money for my crypto?

>>53122429
Thanks for the advice anon but I'm not sure if the people at the branch will be able to deal with this as it's dealt with by the fraud department. What do you think?

Why the fuck are you emailing about a frozen account you retarded faggot larping cuck nigger? Pick up the phone?? Visit the branch?? No, I'll send an email to customer service.

>>53122429
banks can freeze your account if they think it's shady business (i.e crypto)

They don't care about the trades, first hand experience on this

>>53122432
Of course they're not asking for his statements that's illegal.

>>53122463
He is larping the "you can't cash out" meme

>>53122458
I phoned them when they first froze my account and they told me I have to email them and have it resolved that way. Its handled by the fraud department.

>>53122452
You never said it was being handled by their fraud dept. In that case get on the phone top their fraud dept. Are you scared of talking to people or something?
Starting to think this is a larp

>>53122476
Dude do you really think I'm fucking larping and made up the email I posted from them? Because I can assure you I didn't.
>>53122463
Thats what I wouldve thought but when they say "full monthly bank statement of the account the funds came from. This must show the full account holders name etc" - if theyre talking about my account then they know I literally can't access it to show them my statements. And they could just do that themselves if they wanted.

>>53122424
>what should i do?
you shouldnt have taken a bank transfer from a launder kek

believe localcryptos lets you accept cashdeposits right? so instead of shady transfer a guy just deposits some cash in your name, probs wont get flagged if you do that once or twice.

as for your previous mistake just give them info of the transaction, localcrypto site logs + blockchain data and hope for the best

>>53122476
it's not a meme though

>>53122504
Fair enough but I just thought it was kind of obvious to anyone reading if your account gets frozen its something handled by the fraud team. You can see at the top of the email too >>53122122

>>53122519
I think you should write them a letter made from newspaper cutouts like a ransom note, begging they give you your money back. You could send them some flowers as well, and maybe even sit in trafalgar square naked as a sort of protest to raise awareness of your plight. Whatever you do don't phone them to sort it out.

>>53122183
>>53122256

who do you bank with

>>53122528
thats assuming he's a launderer though. who knows but currently he's still the top trader on the site executing trades daily. anyway thanks for the rest of the advice. since i have an overdraft with them im thinking about just withdrawing crypto to another bank account and then just sending the money over to my Nationwide from that account in my name.

>>53122551
like I said, I already phoned them, spoke to the fraud team and they told me I have to sort it via email

>>53122183
Same but for Coinmetro
>>53122252
Sort out with your current bank, make a burner account with Revolut, Starling, or whoever (make several!), shift money to them through Coinmetro. Don't use Coinbase because of higher fees and it uses Silvergate as it's client bank which is becoming a big red flag in and of itself for UK banks. It you insist on localbtc then accept that the UK banking system is going to be increasingly closed to you. Maybe try transferring small amounts from lbtc to international acct (Danske are supposedly pretty lax, dyor tho) then into UK acct in small amounts
>>53122273
Keep them for now. Having only one banking provider is a bad idea if you're in crypto, no matter how legit and above board your actions are. Fuck them off when you have other accts

>>53122107
Which one? I have several and a family member that works in one.

>>53122614
Thank you for the advice anon I really appreciate it. What makes Coinmetro in particular safe to use? I currently have a Natwest account and a Starling account. Looking at getting a Revolut. Out of those 3 which do you think will be safest to withdraw from coinmetro into?

>>53122536
My bank froze my account when buying on Coinbase. I called them up and had it unfrozen in 5 minutes. I've cashed out 50k+ with no problem.

>>53122635
Nationwide. Been a customer with them for 20 years since I was a teen. Made a load of withdrawals from localcryptos before without any problems but I guess theyre cracking down now

>>53122666
Same happened to me, but they never "unfroze" my account. Had to change banks and move my funds

>>53122504
>You never said it was being handled by their fraud dept.
It says fraud investigation in the topic of the message he posted as the second post.

>>53122666
thats probably because they were trying to protect you though, whereas in my case theyre suspecting money laundering so I have to prove my source of funds etc.

>>53122614
>Fuck them off when you have other accounts
Yes

>>53122688
Missed that, my bad.

>>53122122
>nationwide
Lmao, my Barclays account has had so many fucking random large transactions and deposits and withdrawals in the last decade they just do not give a shit anymore

>>53122694
I just looked up your bank and it seems they are shit cunts because I found endless cases like yours. They seem to all eventually get resolved but it seems more painful than a 5 minute phone call. Get a new bank either way.

I've dealt with my bank asking questions like this before too. Took me a long time to get solved and I kept providing them with more and more info, but they kept giving me crazy short deadlines for everything so I was getting more and more stressed. They never froze the account though, I was still able to use my bank account while they investigated. Obviously because people have bills to pay and food to eat.

>>53122694
A written statement that you sold x amount of coins to someone on localbitcoins. Transaction ID, payment rates, etc. Let them know it doesn't make sense for you to get the bank statement of someone you sold something to as that would violate the buyers privacy and there's no way they're gonna give you that. My bank was confused that the transaction logs I gave them wasn't signed and was just a shady csv that I converted to PDF on their request, but I used a no KYC exchange so it's not like I could get signatures even if I wanted to. They eventually conceded that I had no way to do what they were asking me for and gave up and approved my funds. Crypto just confuses most banks since they don't usually have a proper protocol to follow. I had the same issue when buying real estate and writing crypto as source of funds and providing statements as anti money laundering measure.

>>53122766
Got a Link to that? I've never cashed out before and it would be good to know if my Bank have a good or bad reputation.
Is there a list of shitty bank for crypto somewhere, I wonder...

>>53122681
If you're legitimately not laundering money that way or some other way, they'll have frozen it due to the amounts involved compared to normal and or where it's coming from. There's also a clue with them asking for other account details it's the latter. I.e. the merchant has been flagged as some kind of masking / laundering layer itself. You'll need to email them as much information as possible. You're right it's good that they can see the debits going out from your account.

You'll need to speak directly with the fraud department. There is absolutely zero chance the branch, customer services or transaction handling people will be able to solve it.

>>53122107
Use Wise, I do p2p crypto payments with them all the time and I'm also in the UK.

>>53122788
Thank you for the advice anon, much appreciated, especially the part regarding what to send them and that it doesnt make sense for me to get the bank statement of the buyer. I'll take what you've said on board. And you're right it is stressful. The payment theyre fixated on wasn't even for much money either.

>>53122183
kys cuck, can't wait to see your surprised anglo pikachu face once they decide to arbitrarily freeze your bank account too. And believe me, it's coming.

Get a Monzo account, they explicitly allow crypto txs.

>>53122844
I just googled 'nationwide bank frozen account's and browsed the first few results desu

Should've used Monero

>>53122962
>Should've used Monero
You'll probably end up getting flagged literally just for having bought it eventually

>>53122551
He did call them.and he did state earlier it was the fraud dept that he was dealing with. You're needlessly being a prick.
>>53122107
Good luck OP. Not a bong so cant help you

>>53122858
I'm legit not money laundering. When I spoke to the fraud guy on the phone he told me lately theyre cracking down a lot on crypto transactions because more and more people are using it to launder money hence maybe why this has happened. As someone else has mentioned it could be because the merchant I used has been flagged for laundering, though like I say he's still one of the top traders on the site and executing trades right now. However surely I can't get his bank statements as it would breach his privacy and afaik be illegal? Yet its odd that they'd ask for my bank statements since I'm literally unable to access them now.
>>53122897
Are you the merchant who sent me the money? Cause he uses Wise to send to me kek.

>>53122949
Interesting because in the last thread an anon said he had his Monzo acc frozen for buying crypto >>53077223

>>53122998
They may be unaware you're unable to access them because they think the freeze is just on transactions.

I have a strong suspicion your top trader buddy has been flagged for laundering. And by having interacted with him, now you are.

>>53122651
Kek you have or will have the three worst bank accounts for crypto. Starling will eventually freeze your crypto, and Revolut will freeze it on the first instance.

>>53122996
ty fren

Ok I'm going to spill the beans how banks handle these things. They flag pretty much every account who does like over 20k in transactions with crypto platforms. The evidence they need to unfreeze your account is proof that the funds are yours not from some 3rd party so if you use only one exchange eg Coinbase for fiat onramp and offramp then Coinbase account statement is sufficient. If you send them your account statement and they see outgoing/incoming transactions then you need to provide all the statements from those corresponding exchanges or crypto wallet addresses which show ALL the incoming/outgoing transactions. For some reason anything related to DeFi is automatically a no-no for them and you might get offboarded just for using uniswap and something like that.

FYI for anybody looking for a bank to withdraw into. Barclays don't give a damn, they even had a partnership with Coinbase a few years ago. Also the boomers at Co-op don't even know what crypto is and won't ask any questions. These failing, Lloyds is your next best bet. Obviously don't be retarded and use P2P, use Kraken.

>>53123068
>If you send them your account statement and they see outgoing/incoming transactions then you need to provide all the statements from those corresponding exchanges or crypto wallet addresses which show ALL the incoming/outgoing transactions.
Yep.

>>53123068
Bear in mind most of these people who deal with your crypto dealings are absolutely clueless how crypto works so you need to explain your transactions like you would to a 5 year old.

>>53123035
He could be but I have no idea to know. Not my buddy I just usually use him because he offers the best prices. They know I'm unable to access my account. But theyre still allowing money to come into my account, I just can't use my card or access it to spend it on anything. In fact they have let the same merchant send money to me on two more occasions since the transaction they're flagging me for. I'd have thought they'd block any payments from him if they had him down as a launderer. But I don't know.

>>53123098
I have a friend who does this; monitoring. I can guarantee, they and the rest of the team have absolutely zero idea how it or verification works. They literally just seen
>Coinbase
>Too much
>Flag

>>53122996
He stated it after I made the post you referred to. Chillax, baby

>>53123068
I dont think ive even withdrawn 20k worth of crypto over all the years ive been involved in it. What I can show them if they require is me buying a bunch of ETH in 2016 from Bittylicious via direct debit. Which would more than suffice for all the crypto I've cashed out via localcryptos in the subsequent years.

>>53123109
>He could be but I have no idea to know.
I'm pretty sure he's flagged just from the general theme. Kind of 90%+

>>53123037
ive heard Natwest is pretty crypto friendly as theyre under RBS
>>53123080
>Barclays
thanks for the recommendation

>>53123146
Depending how deep they investigate that might be enough. They might need proof that those ETH ended up on your locacryptos account so add in screenshots etc from your localcryptos deposits (with explanations if you traded that ETH and what were major profitable trades). If not then they're just retarded. especially if you made those transactions from the same bank account they froze.

>>53123176
>RBS
RBS is directly owned by the government, if that's of any interest or use.

>>53123237
what bank would you recommend? barclays?

>>53123248
https://bitcourier.co.uk/blog/crypto-friendly-banks-uk

>>53123268
Yeah they list Nationwide as #3, "lets customers withdraw or deposit freely to cryptocurrency exchange platforms." It's hard to trust these sites.

>>53123213
The thing is that the ETH I purchased in 2016 has gone through a bunch of other trading transactions in the meantime before being deposited to localcryptos to cash out from. And it would be the most painstaking errand ever having to go through years of tx's to explain the entire route, if they ended up wanting that.

>>53122107
>he doesn't have 20+ active bank accounts that he churned for signup bonuses
ngmi chud sorry

>>53123319
>>53123248
It sounds like you've been scammed by a flagged laundering/masking layer "top trader" desu. The bank won't unfreeze it too quickly because I'm willing to bet a hundred pounderoos there's precisely zero chance that top trader will help with the investigation by providing their own transaction record.

>>53123423
>will
Won't. A fuckeraru spellcheckararu

>>53123423
So what's my best bet? To basically fuck them off? Why would they still accept subsequent payments from him if they have him flagged as a launderer? The payment they froze me for was 5 weeks ago now and they've accepted 2 more payments from him since then - one of them funnily enough was even after they froze my account (i was in the middle of a trade when they froze it).

RBS seems to be the best UK bank for crypto on/off, according to a bunch of these review sites. I might open an account with them fr fr no fap

>>53122651
>coinmetro
>check current 24hr volume
>900 dollars
yeah man use coinmetro

>>53123624
Anon..?

>>53122594
he is the top trader on the site with thousands of trades
how the fuck isn't he a money launderer from the viewpoint of an increasingly nervous tradfi institution

Just use Revolut as middle man and transfer money from there to your bank account. Obviously when you start moving 50k+ then banks will ask you where that money came from for money laundering issues even though they happily take cartel money.

>>53123080
Seconding Barclays, worst case they will give you a security call on your first large transaction just to make sure it is actually just you, once you confirm it they don't give a shit. Almost all confirmations after that, especially using the online banking app, they will also not give shit. Worst worst case, their customer service call centres are indeed functional and do fix things, unlike a lot of banks

>>53122183
>your fault for using some shady OTC p2p shit,
>you have to used the approved kike middle meant to sell your assets goy
FUCK OFF YOU ABSOLUTE SLAVE MENTALITY GARBAGE

>>53122107
Your bank is fucked in the head. You should deploy your lawyers on them, but if all your funds are in the account they froze, that may be hard. A lawyer may still take on the job knowing the funds are there.

>>53122107
Never use P2P for any meaningful amount of crypto because of >>53123035

>>53124518
Going forward I won't now. Not just because of that but because its also more of a ballache to "prove funds". I've cashed out less than 8k in the last year though, which isn't a lot. The payment they've frozen my account for was less than 1k.
>>53124445
Yeah its really annoying and stressful. I'm actually about 1k into an overdraft with them so I don't have concerns about getting any money back from them. Since they're still letting transfers come into the account that shouldnt be a problem. Gonna make a kraken account, get a barclays account and deposit into there, then just transfer the funds over so I'm at 0 balance and if they dont unfreeze my account i'll just close it.

reminds me of that scene in the movie "in time" where the time keep agent is looking at a map of a poor area and they are alerted to money that "isnt supposed to be there"... really makes you think

> https://youtu.be/17pCA-TjBV8?t=4504

reminds me of that scene in the movie "in time" where the time keeper agent is looking at a map of a poor area and they are alerted to money/time that "isnt supposed to be there"... really makes you think

> https://youtu.be/17pCA-TjBV8?t=4504

>>53122107

They don't want you to make it, bro.

any aus cunts, here? Whats a good bank?

How much are we talking here?hpmxxw

>>53124836
the payment they froze my account for was for £903
ive cashed out less than £8k over the last year

>>53123080
Good advice. Though I would use Gemini instead as it's FCA regulated here in the UK. Had all sorts of problems trying to deposit fiat onto Kraken from my HSBC account. Monzo is good too.

>>53124873
it seems Kraken is FCA regulated too

>>53124873
the problem is probably with HSBC, its listed as unfriendly towards crypto on sites ive looked at

You call your bank BEFORE you attempt to withdraw any substantial amount of money to your bank account so you can make sure that you first give them any info/transactions they need so you can then freely withdraw in peace. After you do that you can literally withdraw millions if you want.

Otherwise it's just "this NEET account is suddenly sending a shitload of money from some crypto website wtf freeze that shit"

>>53125041
i get your point but >>53124868

>>53122107

This is exactly why I want crypto to fucking replace banks one day.