‘Nationwide thinks my partner is up to something dodgy’

‘Fraudsters often manipulate their victims into opening Revolut accounts, from which they can more easily get them to move money into cryptocurrency’

QI’ve lived with my partner for around 30 years and we run a business together. However, we have recently started making plans to jack it all in and move abroad, though we don’t yet know where we will go. We wanted to consolidate some of our money to pay for upcoming trips to scout out locations, so I transferred £20,000 from my Nationwide account to my partner’s Monzo account.

However, the payment was immediately stopped for security purposes and it resulted in a 40-minute-long anti- fraud phone call from Nationwide. During this phone call I was excessively scrutinised about the nature of the payment and my relationship with my partner.

Having answered the initial questions on the phone I was then transferred to the fraud operations team to clarify my responses. I was asked who my partner is, and where he lives, as well as how long we have been together, and his date of birth. I told them his name, he lives with me, and has done so for the past three decades. As for his date of birth, well, I told them it was none of their business.

Then I was asked why I had transferred £ 20,000 to his account, and what was he going to spend it on? I said I had given him the money as a gift and I didn’t know what he’d be spending it on. The relentless questioning continued, to the point where I felt I was being accused of something. Nationwide seemed to be coming back to the fact that when I’d made the payment online I’d typed in the reason for the transfer as being an investment, whereas now I was saying it was a gift. I tried to explain that I said what I did initially because I saw this as an “investment” in our future, but it didn’t seem to wash. It was implied that I was not being honest.

As I could not give a clear explanation of what my partner was going to do with the money it was then implied that I was somehow being scammed, or that the money was being used for an investment of which they did not approve. The customer services person stated that if he had gifted £20,000 to his partner, he would certainly make sure he knew what it was for. To this I took great offence, as it called into question the integrity of my relationship and my ability to choose how I spend my money.

I was also interrogated about why I had opened a Revolut account on Dec 27, depositing £14.99 into it from my Nationwide bank account. I could not see why this was relevant to anything. I was informed that as I had refused to provide answers to all their questions, all my Nationwide accounts (containing around £200,000) were blocked with immediate effect. I would only be allowed to visit a branch for access to cash to pay essential bills, I was told.

I was told that my accounts would be unlocked if I could provide my partner’s ID, three months’ worth of my Revolut account statements and three months’ worth of my partner’s Monzo bank statements.

On principle I am refusing to provide this as I don’t see why I should have to supply third-party data to gain access to my own money. So I am left in a complete financial meltdown as a result of my basic human rights being denied. Can you help?

– Anon

Dear Reader

AAs a consumer champion I usually lambast banks for not doing enough to stop fraud, yet here you felt Nationwide had been overzealous in the extreme. Typically, when banks suspect customers are about to be stung they simply block the suspicious payment, provide a fraud warning, and make clear that any money lost will not be refunded. But in this case Nationwide went further, denying you access to all your funds unless you provided your partner’s bank statements.

On the face of it, the demand for third-party data seemed grossly unfair, as you weren’t in control of whether your partner provided these or not. You were also adamant there was nothing untoward, and deeply offended at the suggestion there might be.

However, I have thoroughly reviewed your case and, although this isn’t what you want to hear, have come out supporting Nationwide’s decision.

Let me explain: your behaviour has raised several red flags which, when combined, raise enough suspicion that your £20,000 may end up being used for nefarious ends, that the bank is well within its rights to block not just your payment, but all of your money. First, you changed the reason for the transfer from “investment” to “gift”, and you still can’t say precisely what it will be spent on, even though this is the first time in 30 years you have transferred money to any account held by your partner from your Nationwide account. This is strange, because usually when people are making transfers for legitimate purposes, they can explain clearly why and their story doesn’t change.

Second, the day before the transfer you opened the Revolut account and deposited a nominal sum of £15.

You say this was in preparation for your big move abroad, even though you have no idea where you’ll be moving.

But Nationwide says this is classic behaviour for someone who’s about to be scammed, and I can vouch for this. Fraudsters often manipulate their victims into opening Revolut accounts, from which they can more easily get them to move money into cryptocurrency, which they can then steal without getting caught.

Third, you are refusing to supply your partner’s statements. You say this is because of your principles, but Nationwide feels it may be because somebody has something to hide. I told you I thought you should just ditch your morals and supply the statements, because it would eventually obtain the information directly from Monzo anyway.

But you still were reticent. You suggested perhaps your partner could send them to the accountant who handles your joint business affairs to verify, and give the green light to Nationwide.

I told you Nationwide would never accept this and, if anything, this idea was yet another red flag, giving the bank more reason to suspect foul play somewhere. It certainly made me feel uncomfortable. At this point you stopped returning my calls, signalling to me that you no longer wanted me involved.

At first, Nationwide thought you were possibly being scammed by your partner, but now it is open to the idea that something else may be going on.

This includes him being scammed but not himself being aware, or something else involving illegal activity. You’ve told Nationwide you’re leaving and will seek another account elsewhere.

I’m sorry if my involvement has made an already stressful situation even more distressing. I have done my best to get to the truth, but this time I fear it lies beyond the limitations of my work.

If nothing else, your case gives a fascinating insight into the complexities banks face when trying to protect customers – and the bank itself – from possible fraud.

They don’t always get it right, but in this case I cannot find fault with Nationwide. Whatever is going on I hope you’re OK, and wish you the very best of luck.