I strongly advise against opening a Business Banking account with this provider. My account has been frozen for 9 days following the completion of my house sale. I have provided them with completion statements, emails, and proof of the sale from a regulated solicitor, yet they are still withholding my funds. I have now lost the opportunity to purchase my next house, and the investigation into the legitimacy of my funds could take up to 20 working days. When I escalated my issue to a specialist team, I received an automated message stating they would reply to my initial inquiry in up to 15 working days. So far, I have spoken with three different customer service representatives, all of whom asked the same security questions. Once they recognized it was a specialist complaint, I was informed that the thread would close and I would be contacted by a specialist soon. However, I have yet to hear from this specialist. This situation exemplifies how cash flow can be severely impacted in a small business. Once my funds are released, I will be transferring to another bank. I understand that large sums of money require thorough investigation to comply with regulations, especially in light of the current rise in money laundering and scams, but a 20-day wait is simply unacceptable in today's technological era. This has caused me immense stress this week, along with a frustrated seller due to my inability to meet our agreed timeline for purchasing my next home. This provider needs to hire more staff and improve their customer service. I am a very frustrated customer caught in a cycle with their support team.
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