Back

Seven Reasons Why the Bank Can Freeze Your Business Account

You’re a business owner who has found themselves in one of the most distressing situations possible. Your corporate account has been frozen. Without notice or explanation. How will you pay staff, suppliers or even the taxman? You risk endangering your credit ratings if bills go unpaid. You can’t open an account with another UK bank while the account is suspended. Most importantly, you have done nothing wrong! This was a recent client scenario for fraud and financial crime lawyer, Susan Monty. In this article, she explains why the bank may have made the decision to freeze your account and the next steps you should take to resolve the issue.

There are numerous reasons why an account may be frozen:

All of these matters can be resolved, some more quickly and painlessly than others. How? An effective response could be as easy as one carefully drafted letter from your lawyer, as in our client’s case.

Key tips:


Share this article

For further information please contact:

This article is for general information purposes only and does not constitute legal or professional advice. It should not be used as a substitute for legal advice relating to your particular circumstances. Please note that the law may have changed since the date of this article.

Other Recent Articles

Search