Why your account could be restricted
Zempler Bank will only ever restrict an account to protect our customers, or because of a legal obligation.
As a regulated financial institution, Zempler Bank is rightly required to comply with the UK’s money laundering regulations. This is common industry practice for the prevention of crime and protection of our customers.
To make sure we’re complying with these rules and, most importantly, keeping our customers’ money safe, we have automated systems and teams of experts who monitor accounts for suspicious and unusual activities. When these activities are ‘flagged’, a temporary restriction will be placed on the account in question while it’s checked.
Often, there’s an explanation, so we aim to clear these checks quickly, and the customer will often never notice. Sometimes, we’ll need to carry out further investigation. In these cases, we may need to ask a customer for documents, and sometimes we’ll need to close the account.
These regulations also prevent us from giving details to any third party that might enquire about account restrictions.