Hi,

I have a personal banking problem whereby UOB bank will terminate my account. The only reason given is that they reviewed the business and banking relationship and claimed they can't keep my account.

I do not have any overdraft facility nor do I have any credit cards. So it's not possible for me to be owing to the bank. My balance is low at times below the required saving amount but that would be a weird reason to terminate my account.

Can anyone share what could be the case? I tried calling their customer service and the banks. But no reply yet. I am wondering what is going on.

Thanks for any help.

This post has been edited by Dendroid_King: May 4 2016, 07:29 PM

Won't they freeze my account or do an investigation instead?

Besides my transaction is low.

Okay thanks. So does that mean I am in trouble?

As far as I am aware, I did nothing wrong. I only make transactions on behalf of my company.

Assuming that Madmoz is right (de-risking), would the bank's action impact my credit rating in the event I would like to take up a loan? Or would the bank's action trigger investigation from the authorities?

I ask because I feel like I am being unfairly treated by the bank by mere suspicion and they never even gave me a chance to defend myself. And though I know I did nothing wrong, nobody likes to be called for investigation.

Thanks for your help. I will try to confront the bank manager to get any answers or tips.

This post has been edited by Dendroid_King: May 6 2016, 06:56 AM

That is the problem I never think off when my boss transferred the money to me.

My boss went back overseas and put me in charge of all payment settlement as I am his accounting staff. So he just use his internet banking and transferred the money into my account. So while he is in overseas, I have to make all the payment on behalf including worker wages from my savings account.

As he is in overseas for a long time, he would not be able to sign any cheque and pass it to me. Hence the burden fall to me as he prefer to be in overseas.

I did tabulate the spreadsheet to monitor the movement of the cash flow in case there is any doubts as money is a pretty sensitive thing.

But sigh.....I doubt the bank will agree to give me a chance to explain. And I am not sure whether I am going to be blacklisted.

Thanks anyway.

This post has been edited by Dendroid_King: May 6 2016, 01:30 PM

They implied to me it is indeed a big problem with my bank account. I heard the words alert list and legal department. But they did not confirm it as expected.

Personally I know I did nothing wrong. What should I do? Is it serious?

Please kindly advise. I want to clear my name if possible.

Thanks.

Thanks. I was very worried.

Now I don't feel so bad.