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Topic starter
18/10/2011 2:43 pm
We have a business account with Lloyds and have just discovered that they have frozen the account. This is a major problem and will cause serious issues with our business if we can't get access. Our business is a limited company so how on earth can a bank feel justified in freezing the account? We don't even have any personal accounts or dealings with Lloyds. I'm now concerned about our other business account which is with the same bank as our own personal account.
18/10/2011 3:53 pm
Hello Dollar.
I'm sorry to hear that, it must be very inconvenient for you.
I think from a previous post you have recently signed a trust deed? It sounds possible that Lloyds may have recently discovered this, made an association between you personally and your limited company, and decided to freeze the business account. Alternatively it may be that Lloyds have other reasons connected to the business for making this decision.
You may wish to contact Lloyds to confirm the exact reason why the account has been frozen, and to query what their intentions are with the account from this point forwards.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
18/10/2011 8:53 pm
Hi DOllar
Some banks freeze accounts automatically when they learn of any insolvency. It is not uncommon for them unfreeze the account if they get a letter from the Trustee advising that the Trustee has no problem with account being operated. Speak to your Trustee.
Shona is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
19/10/2011 4:11 pm
The account was unfrozen today after our Trustee sent a letter confirming the account had nothing to do with our personal situation. Thank goodness. No sign of the other account doing the same so far.
19/10/2011 5:21 pm
That's excellent news Dollar.
I'm glad that this obstacle to running your business has been removed.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
