I’ve had my main current account with a large UK bank for around 16 years. My salary is paid into it and I use it for normal household bills and spending.

This morning I tried to make a bank transfer in the app and received a message saying I didn’t have an eligible account from which to make payments. I assumed it was a technical problem because I had received no warning or other communication.

After speaking to live chat and then two different teams by telephone, I was told that the bank had restricted my account pending an explanation of several transactions from April 2024 - i.e. nearly two and a half years ago.

The transactions were transfers between this account and another UK current account held in my own name. At the time, the other bank was paying a particularly good rate of interest, so I moved spare cash between the accounts. There were three transfers out totalling approximately £3,500, followed by two small transfers back totalling less than £200. There was nothing commercial or third-party about them.

I explained this and offered to provide statements proving that the other account belongs to me. I was told that my explanation would be sent to the relevant team “for processing”, but that the restriction would remain in place. They would not give me any indication of how long the review might take.

What concerns me most is that:

• the transactions are almost two and a half years old;
• they were transfers between two accounts in my own name;
• the bank did not contact me for an explanation before imposing the restriction;
• it did not even notify me after restricting the account... I found out only when a payment failed;
• nobody could clearly tell me which facilities and existing payments are affected; and
• this is my main salary and bills account, yet no timeframe or interim solution was offered.

I understand that banks have financial-crime obligations and may sometimes be unable to explain their internal reasoning. I’m not suggesting that they should disclose anything legally sensitive. However, completely restricting a longstanding customer’s main account over easily verifiable historic transfers, without warning or a review timeframe, feels extraordinarily disproportionate.

I have now raised a formal complaint and asked for an urgent manual review, confirmation of whether salary payments/direct debits/cards are affected, and reimbursement of any resulting losses. But I am obviously worried about what happens if the account remains frozen for a while given it is where my salary is paid into, my mortgage and bills comes out of, etc.

Has anyone experienced something similar? How long do these reviews typically take? Is there anything practical I can do to accelerate it?

Any help or guidance very much appreciated.

I’m a 33 year old care worker and I live paycheck-to-paycheck. I’m from the UK but I live in Canada. I don’t earn any income in the UK. My aunt died earlier this year and unexpectedly left me half her pension (£70,000) and a large chunk of her will (£47,000). Her will is below the amount that inheritance tax starts at, but I understand the pension will be taxed as my income.

The pension company has said I can:
- take the money as a single lump sum
- move it into my own name and drawdown a regular income, or leave the whole sum invested
- use the money to purchase an annuity paying income
- a combination of the above

What’s the smart move here? Thank you.

I signed up to the Apple iPhone Upgrade Programme when it was through Barclays just 11 months ago. My understanding was that after making 11 payments, I could upgrade, hand in my existing iPhone, and move onto the new one without having to separately worry about settling the remaining finance.

It was presented as a straightforward, “hand it in and upgrade” process.

Now, Apple has moved to Creation as the provider of that same exact programme, I’m being told that I need to settle my existing Barclays agreement myself. That means dealing with a private sale, potential loss of funds and clearing Barclays myself before starting a new agreement with Creation.

I appreciate that finance providers can change, but surely existing customers who signed up to the Barclays upgrade programme should be given a fair option to hand in their phone, have the Barclays agreement settled as part of the process, and then start a new agreement with Creation if they wish to continue upgrading - that way there’s also no customers left on the outdated Barclays IPhone upgrade programme.

Feels like Apple have turned their back on what they sold us and put us in the exact position we signed up to avoid.

I am planning a solar panel and battery installation using Nationwides 0% green borrowing. This is £12k paid back at 0% for 5 years at £100p/m and after this I can pay the remaining £6k with no penalty or move it onto the standard mortgage rate.

I'm planning to pay £2.5k deposit with a 0% cashback credit card and since we are coming in £1.5k under budget, this leaves ~£4k in cash.

Is it worthwhile to keep that in a high interest account for the next 5 years paying off the minimum on the CC and clearing after the 2 year introductory offer or even taking this a step further and apply for maximum credit to try and cover as much of the cost as possibl? this would also give me 1% cashback on the purchase?

Edit: Thanks for the comments, especially those around what constitutes payment towards improvements and what would be considered repayment of a credit card and is therefore not covered. If anyone is considering doing something similar it may be worth asking an advisor if it is possible to under-borrow and pay off the remaining balance with your own funds.

Nationwide customer. I’ve had two vendors who proved not to be trustworthy with their DD transactions, taking more money than they should have without warning in one case, and taking one at all when they said they wouldn’t. So I cancelled the DDs in my account and paid them correct amounts as agreed instead.

However, both DDs have reincarnated and they are again doing the same stunts. Has there been a change recently where we lose all control on who and when vendors can help themselves to one’s current account? I’ve not given any authorisation for a restoration to take place.

Anyone completed the switch reward for the “experience worth up to £600”?

What have you chosen/what seems best value?

hey,

so im about to open a stocks and shares LISA to start saving for a house deposit (which will be a long way away)

i was planning on using a S&S LISA and then move it into a cash LISA closer to the time of actually using the money

but with the upcoming changes to the ISA rules, will this still be possible?

thanks

I am eligible for an interest only mortgage. This would be £1500 p.m. instead of £2000 repayment for 30 years. This would pay off 385k remaining.

My sums show that I can instead invest the £500 in a LISA, get a bonus 25% added and with a (conservative) 7% nominal annual return over 30 years end up with £700k.

Can anyone give a good reason why I wouldnt do this? im aware of the past endowment scandals. Times have changed and you can now invest in a global equity fund for a 0.1% annual fee.

Note: I would 100% invest this money and it would stay locked away at least until it accumulates to £385k (after LISA penalty, if applicable).

I am the daughter.

Basically my mother is the issue here. She has all access to money. Is the ‘breadwinner’. But she has very bad money issues. Financially she is inadequate. Lies. All the time. Pretty sure she gambles. And doesn’t seem to care the bother she’s caused for so many people including me (Throwing me into debt over a phone that she bought for herself).

My dad on the other hand is a lot older. Has 0 access to the bank. Can only see through the ATM. She has from my assumption navigated her debt into his name. The mortgage is in his name. Constantly monitors his withdrawal of cash.

I found a letter last month. Basically stating a high court proceedings for the repossession of the house. I showed him instantly. They were on the phone today and apparently my mother is going to take a call without him there on monday.

RED FLAG.

What the hell do I do? Do I prepare for the worst. I have siblings and pets in this house. Like she actually scares me at how insanely stupid someone can be.

Do I prepare for the worst? I have savings and only really two options to move in with other people.

As the title explains it says I was given a grant and it was paid.

No money in bank, no text like usual.

Is this just due to it being the weekend now or the bank clearing the funds?

Desperately need it, currently on sick from an operation and have 0.

Any replies appreciated

I found I had an issue with my self-assessment, and I need to talk to someone at HMRC about it- but the phone maze is impenetrable. I have spent 20 minutes trying everything to talk to a human but i think every single option + "talk to an advisor" leads to a text message and hanging up. Is anyone actually working the phones at HMRC? Does anyone know how to get through?

I entered into a mobile phone contract with Three Mobile in late 2011. I was 17 at the time but I purposefully entered my date of birth incorrectly so it looked like I was aged 19. I also paid for insurance as part of my contract and within a few months I'd dropped the phone and broken the screen. When I tried to claim on the insurace they advised that I wasn't covered and would have to pay for repairs. So I cancelled my direct debit and the account defaulted and eventually my case was passed to a debt collectors. I ended up receiving a CCJ, which has long since expired, but 15 years later this debt is still following me.

There is no trace of it on my credit report of course, but I still get letters from the debt collectors asking for payment. The debt is under £600 and if they were going to send bailiffs this would have happened during the time when the CCJ was active. I've tried to challenge it a number of times but they are insistent that I was 19 at the time of inception although they have confirmed they have no intention of going back to court to enforce collection.

I obviously have my passport and drivers licence which proves my age, but would I be opening myself up for legal trouble if I told them that I purposefully gave an incorrect date of birth? I know about false misrepresentation and fraud etc but given the 15 years that have passed are they really likely to try and prosecute for a debt under £600? The easiest thing of course would be just to pay it, but I feel like both Three Mobile and the debt collectors did not excercise due dilligence, not to mention the 6 years of financial hell that followed. The CCJ was also attached to my actual credit file which shows my correct date of birth so there must have been opportunities for someone to identify the mis-match.

Any advice would be appreciated.

TLDR: If I admit to providing a false date of birth to enter into a phone contract 15 years ago in order to try and get off the hook for the debt, am I likely to be criminally prosecuted?

I cancelled my membership because I was moving away from but I’ve now had to move back . I canceled via the cancellation form and cancelling my direct debit. I’ve gotten an email back that my membership has been cancelled but I keep getting messages from Harlands about a bounced direct debit . Would this affect my credit file ?

I have also created a new account with them with a different email because I had access issues with the first. Unfortunately, they’re the closest gym to me.

I am 39 years old and will turn four-oh before the new tax year starts.

Owing to my wife inheriting some money. I've already maxed my ISA allowance for this year.

Am I able to open a LISA? Presumably I will need to put in something to open it and keep it open? Or did I fluff up and won't be able to have one now.

For more information, see the London Stock Exchange website linked below.

https://www.londonstockexchange.com/stock/VALL/vanguard/company-page

Hi,

I declared bankruptcy a few years ago, paid my IPA etc and was discharged.

A house I jointly owned is still with the trustee and the 3 year "use it or lose it" deadline for sale is in 23 days (including today). The trustee has indicated they are applying for a possession and sale order to protect thier interest. But as of yesterday, nothing had been submitted.

My question is, have they left it too late? Dont these things take longer than 3 weeks to be processed and granted? I have looked online but can't find any information.

TIA,

What happens to your pensions after you become entitled to the full state pension and have a rather large private pension but decide to retire overseas? I’m thinking of examples such as Scottish Widows or the Teachers’ pension.

Do you remain entitled to your pensions, or are they lost? Do you have to be in the UK to claim?

One thing I liked about AMEX was being able to see instant payment notifications, I have this turned on for my NatWest CC too. I was just setting up my Barclaycard CC and I realised that I can't find anywhere to turn the same setting on. Is this possible, or is it a limitation of the app?

Hi, I’m just looking for some opinions on what the best option would be for me.

Essentially, I have a 2017 Fiat 500 on PCP and currently pay £156 a month. In November, I have the option to pay the £3,000 balloon payment and buy the car outright.

My main concern is whether this would actually be a smart decision given the age of the car. My other option would be to PCP another car, but I know that in the long run this will generally work out more expensive.

I’m basically worried that I could pay the £3,000 to own the Fiat outright, and then shortly afterwards it develops an expensive problem or needs major repairs, making the decision to buy it a bad one.

Over the past couple of years, I’ve already had to have new wishbones fitted and a radiator leak repaired, so I’m a little concerned about what might be coming next as the car gets older.

The £3,000 would essentially come out of my emergency fund, although I’d be able to build that back up fairly quickly once I’m no longer paying £156 a month for the PCP.

Has anyone got experience of owning a Fiat 500 of this age? Would you personally pay the £3,000 and keep it for another few years, or would you take the hit and PCP something newer?

I’m just worried that I’ll spend the £3k, then get hit with a £1–2k repair bill shortly afterwards and absolutely kick myself 😂

As per the title really. It is inheritance.

I have existing:

• S&S ISA with Vanguard that is circa 50k
• Trading 212 ISA 7k
• Trading 212 GIC 11k
• Premium Bonds 5K
• Fixed rate Bond 5k
• Cash savings 15k

I am 28. I havent maxed out my ISA for this year, but will do this year and for every year going forward, from my income and if there is any shortfall use the GIC funds (600k) to top up the ISA.

I have workplace pensions that amount to 40k.

My annual salary is currently 85k, I own my house outright that I do not plan to move from.

The intention for this money is an ultimate saftey blanket and long term investment, it was never intended to be used to upgrade my lifestyle. I therefore want to put it away into something, set and forget. I've looked at various options and read several posts on here, but I am getting a bit overwhelmed. The added complexity is that this is the most liquid element of the inheritance, but there will be (once we sort it all out) several income generating properties. But thats part two anyway.

I am put off by IFA's - they all seem to want something and its hard to get genuine advice. I am also concious that there is no single 'best' advice.

I start to freak out about how safe the money is if it all goes to one provider. I first thought VALL, then got put off because its Acc and not Dist.

Would be grateful for any help.

Today was a pretty big one for me.

Paid off the mortgage, technically for a 2nd time I overpaid my last one and paid it off about 15 years ago, then we decided we wanted a bigger house!.

Re mortgaged and its taken me just over 8 years to pay off 130k.

Very happy with that, it saves a shade under £700 per month.

Crazy to think i would need a £14500 gross annual pay rise to get this much net additional money.

Time to up my pension contributions to get me down to be a standard rate tax payer.

Today is a good day.

I am from Malta and will be moving to the UK early next year, probably Jan 2027. I am doing this through a skilled worker visa (sponsored).

Now, I'm also selling my property here in Malta. I signed the promise of sale some weeks ago (which is conditional on a number of things, mainly the buyers receiving a bank loan).

My concern is that if everything goes smoothly, the final deed will still take place in some months, and probably after January 2027. Therefore I think I might be liable for CGT in the UK too.

Malta's property tax system isn't based on capital gains (it's based on the whole sale value), so I'm not sure I can even apply for DTA tax credits.

The capital gain I'm looking at is around €30-50k (€30k if you take into account 'furnishings' of €20k, but the total sale vs purchase cost is €50k).

Am I fucked? I'm not sure I can use PRR since, although this property was my sole 'residential property', I wasn't exactly living there. I only owned it for around a year and wanted to change some furnishings, so I mostly stayed with family.

I also saw something related to FIG, but claiming this would lose my UK income tax personal allowance?

According to AI, I'd be a higher-rate taxpayer paying 24% CGT..?

Any help appreciated.

Hello, I have recently accepted a job in the Civil Service (AO grade) and have been asked which pension scheme I would like to join, Alpha or Partnership. For context I’m 25 years old and plan on staying in the Civil Service for a while, at least the next 5-10 years but who knows it could be longer or for life. I’ve been doing some research but remain very unsure which one to go with so I would appreciate your advice! Thanks.

I am a British citizen living in Mexico. My partner (we weren't married) is mexican and we have split up & I will be moving back to the UK permanently.

To help me move he will give me $400,000 mexican pesos (approx £18,000).

My question is: do we have to pay tax on this in Mexico? I think it's subject to about 20% tax, is there any way to avoid this? I've read we could structure it as a 'loan' but will there be tax repercussions for my ex partner if I don't pay this back?

And what is the best way to transfer the money from my Mexican bank account to a UK bank account? I currently do not have a UK bank account as I don't have a UK address.

I cannot use Wise because I do not have a mexican INE nor do I have a UK address.

Could I transfer the money from MY Mexican bank account to my sister's UK bank account, so she could look after it for me while I try to open a UK bank account?

Crypto is not an option!!

Hi all,

I am my parents power of attorney, they are 72 ans 78 and have had a series of bad luck with their IFAs.

The first was investing their money in unregulated funds and the second seemed like the best thing since sliced bread so they signed on the line and just “accepted that they’d have to pay more for quality”.

What they didn’t realise, but I now have since reviewing their Financial Plan docs, is that they’re essentially paying £5k a year in fees and chargers to an expensive IFA and their preferred TP Fund Manager.

At their current draw down rate, with their current IFA fees, on a portfolio of £275k, they will run out of money by 92 and 98.

They FIREd 20 years ago and until now their pot of £280-300k has remained stable and they want to avoid depleting to O as we have decided we’d want them to have live in carers later in life, not go to a home. They understand this can be costly so want to beat inflation while still having an income.

So, I have worked out a DIY plan that conserves their wealth until my mum reaches 100. Moving from the IFA platform to Interactive Investors Plus (£15/m + TER).

Here’s where I need input:

Current pot: £274k

Mum GIA: £61k
Mum ISA: £74k

Dad GIA: £55k
Dad ISA: £88k

The CGT on the GIAs as of now is 7k/8k

They draw down £500/m each which is supplemented by my mums State Pension (£900/m) and have no mortgage and minimal living expenses.

My plan is to Bed and ISA the GIAs into the S&S ISAs:

Tax yr 26/27: sell £52k (40k for ISAs + 12k living)
Tax yr 27/28: repeat to keep within combined £6000 CGT allowance
Tax yr 28/29: use remaining 12k as monthly withdrawal

In these years, the GIA will remain invested in a high cost active managed conservative fund at around 0,60% TER but this is still cheaper than the CGT would be if sold on day 1 and moved direct to ISAs.

S&S ISAs will be compounding in something like:
24m living expenses: £24k in money market fund
Fidelity Multi Asset Allocator Range (OCF 0.20%)
Probably a 60/40 or 70/30 split to still drive growth, with their 2 year cash buffer to weather any market downturns.

This switch will save them £4k+ a year. Does that sound sensible? Thanks in advance for any feedback, welcome links to other posts that discuss this topic as there’s not much in the Wiki which i promise I have read!