Please listen, and listen carefully. I am a CPA marketer and I use Lloyds TSB (business banking) in the UK. Now even though Lloyds TSB is a UK bank, this may affect everybody who is making money online.
This is not a short post. On the 29th March, I tried to log into my online bank. Turns out that they had frozen my account. The reason? They didn't give me one. They said: "we need supporting evidence to show proof of income". By the way, they did not inform or warn me of the freeze. No phone call, letter or email. They just did it - on a suspicious hunch. And they also tell me that it has already been frozen for one week. I just didn't know.
I tried to rationalize in my own mind. Since my Lloyds business account ONLY had money coming in for a while, it looked odd. This account has been open since May last year. However, I explained to the bank that my expenses were being relinquished from my Lloyds personal account, as this year has been a transitionary period for me. Hence money is leaving the personal account, and income is going into the business account. And this was about to change. He understood.
Of course, my initial response to this whole thing was anger. However, I proceeded to contact the CPA networks I mainly work with (Maxbounty, CX Digital, and 3 others) who all emailed me the breakdown of the last months transactions along with a short nice paragraph stating "we value your business" all in PDF format.
I sent these over invoices to the bank via email they provided. So now, I'm calling the bank EVERY day to find out what the situation is. The general tone everyday for 5 days was is "they have received your documents and are reviewing it currently". I spoke to a different person in the business department EVERY day. I made a note of ALL their names, the dates, and what they said. Some were pleasant - others didn't give a crap. It was horrible and frustrating. Remember, I am calling them here, They are NOT calling me or contacting me at all.
To top this off, I've recently moved to New Jersey (got married last November, been here for 6 months) and so my bank is in reality 4000 miles away. I am originally from London, UK.
I went through 2 weekends of NOT have any access to my money including easter weekend. The bank would not even let me talk to the investigative department. I wasn't allowed to.
April 11th & 12th and they tell me that they will call me at the end of the day with a response. Not that I will have access, just... a response. Pathetic. But I received NO phone call. No email.
April 13th, I try logging in, and it now appears I have access again. So the info I gave them must have been sufficient. But they did NOT call me to tell me, it was unfrozen -- again -- I found out myself.
Now my mother calls me up from London, and Lloyds have sent a letter to me to my London address, saying this: 2012-04-14_1121 - ShamirRele's library
They are basically telling me to leave them! They told me to leave my 12th June and also asked me to return cheque books and cards associated with them. Unreal. They gave me NO reason for the freeze OR why they don't want me to bank with them anymore. I've already contacted a lawyer as during the freeze, I had to STOP all my marketing efforts in fear of not paying my business and personal bills. He said they owe me. Lloyds locked me out of my business account for more than 2 weeks, and I only found out 1 week in. They gave me no reason. They were not courteous enough to even contact me ONCE during this whole thing.
I want to WARN everybody who is banking with Lloyds TSB. If you are an internet marketer, or if you do ANYTHING where you receive money from different companies, or perhaps you do product launches, or whatever, please be warned. They don't seem to even want to understand the nature of my business.
Of course, I will leave Lloyds - as not only do I have no choice, but why would I want to bank with them anyhow.
If you have any advice, thoughts or anything. Please let me know. I'm not happy.. to say the least.