URGENT - INBS a/c - other person put "hold" on a/c

I have two joint accounts with my husband and we are currently separated. He had told me to use accounts as necessary to pay for his car insurance, car tax and other stuff. I had paid for some of these thing on my credit card or in cash. The savings account in question now apparently has a "hold" on it and requires two signatures. Can he just request this to head office and they can do this?? What right have they got? I am now in debt and need to move some of the money to cover mortgage payments. My husband is giving me a paltry 25 euro per week towards the 3 children (8.33 per child!) and this is supposed to go towards mortgage and so on.. If I can't access some savings I will go under. Should I have my solicitor contact the head office directly. Surely they can free up half o the account savings?? I also now have a good mind to cancel his car insurance as I know that was paid for on credit card and there is an outstanding bill for that. I am sick to the stomach.

Yes, if the bank become aware of a dispute between joint account holders they can revoke the original mandate until such a time that you both sign a new mandate (instruction as regards the operation of the account). This should be somewhere in their T&C's.

I know that it doesn't seem like it to you now, but the bank are actually protecting your (& your estranged husband's) best interests by ensuring that both of you agree to withdrawals for the moment. Otherwise either of you could clear out the account without the other's permission, which would likely cause even more problems, disputes & upsets further down the line.

This revocation may not have been requested by your husband, & it might be just a case that the bank has somehow become aware of the separation & in both your interests now requires new withdrawal instructions signed by both of you to clarify the withdrawal authorisation arrangements.

I'd advise you to ascertain from the bank exactly who instigated the revocation of the mandate before you get any more upset or take any action, as he may not be aware that the bank has done this, although the bank should have notified whoever gets the statements of the situation in writing. It may be the case that they will contact him for clarification if he didn't instigate it. Either way it's very likely that they will insist that you both sign a new mandate.

I've spoken to my estranged husband and he has told me that he put a hold on the accounts. I had previously paid for certain bills (including car related items on the car he's using) and he had indicated that I should use the savings in relation to this, but now I cannot make a withdrawal without him signing also and I have an overdraft and credit card debt. He's indicated he will sign but only if he can take out a few thousand euro for his own use.
I have received nothing in writing from the building society and will be contacting my solicitor in relation to this. I am covering all of the household bills, including mortgage and my outgoings are greater than my income. I'm not getting any mortgage interest supplement as no legal separation is in place, and if I don't resolve stuff quickly, I am going to be left in the great position of not having the money to cover mortgage repayments, even though I was the main earner over the last number of years..
Thank you for the information you've provided. Do you know if it may be possible to have this revoked or to have some funds freed up if my solicitor becomes involved? If anyone has any input or has been through something like this, I would really appreciate any input.

Papercut said:

Yes, if the bank become aware of a dispute between joint account holders they can revoke the original mandate until such a time that you both sign a new mandate (instruction as regards the operation of the account).

Click to expand...

I've never heard of that. When the account was originally opened it would have been a joint and several bank account. Withdrawls would have been payable to both or to either. When a change is made to this account both parties would have to sign a "change of instructions" form.

It would http://www.moneyexpertise.co.uk/joint-bank-accounts-pros-cons.html appear that one person here was able to make a change without the others wishes.

dubinamerica said:

Do you know if it may be possible to have this revoked or to have some funds freed up if my solicitor becomes involved? If anyone has any input or has been through something like this, I would really appreciate any input.

Click to expand...

I honestly don't know what the situation would be in your case. I know of a couple whose joint account was frozen by the bank following an innocent conversation with a bank cashier, but their break-up was pretty amicible & they both signed a new mandate allowing either/or to make withdrawals. It can be at the discretion of the individual bank. Your best bet would be to consult your solicitor.

Odea said:

I've never heard of that. When the account was originally opened it would have been a joint and several bank account. Withdrawls would have been payable to both or to either. When a change is made to this account both parties would have to sign a "change of instructions" form.

It would http://www.moneyexpertise.co.uk/joint-bank-accounts-pros-cons.html appear that one person here was able to make a change without the others wishes.

Click to expand...

That link is to a UK based site.

If you do a google search for joint account terms & conditions for any bank/building society operating in ROI, you will come across their procedures for dealing with joint accounts when they become aware of a dispute between account holders.

Papercut said:

That link is to a UK based site.

If you do a google search for joint account terms & conditions for any bank/building society operating in ROI, you will come across their procedures for dealing with joint accounts when they become aware of a dispute between account holders.

Click to expand...

Can you give us a link to the INBS terms and conditions for the operation of joint accounts?

Try google - if you have no success there - have a look at your account documentation, or contact them through their website, email, by phone or in person. They will be able to supply you with T&Cs.

Thanks for all the input. I got in contact with INBS today and they said that they received a phone call initially from my husband indicating that there was an issue and then they sent him out paperwork which he returned which changed the procedure for withdrawing money from one person signing to both signing. They never notified me in writing and I only found out when I went to make a withdrawal. I had previously left a note in the building society indicating I wanted to make a withdrawal and on the same day my husband apparently phoned. I had been depending on accessing the money and had put payments for my husbands car tax and insurance through my own accounts and I now have an overdraft with my current account. The person I spoke with indicated that within their terms it's possible to change from one person signing to both at any time and only one person need notify them. I never thought of asking them to provide the information in writing, but I'll ring them again. And I will be contacting my solicitor. If anyone has any additional comments, please advise and thanks again.

Maybe ask to see their terms where it says this. If that's the case would it have been possible for your husband to change address on the account to his address to stop statements from going to you?

To dubinamerica

I do think it is definitely worth checking whether your ex changed his billing address-just to be sure.

However, I do know that is is completely easy for one half of a partnership to just phone up a bank, request that both parties must sign from now on, rather than just one, and hey voila!

It happened to me when I was living in Australia, where our joint account was held (and where I lived whilst he was on duty when he made the call from his workplace in Saudi Arabia) I was stumped...

If I was in your shoes I'd only deal with your soon to be ex husband, via your solicitor from now on. It is horrible, but is is how it is.. If you completely trust your solicitor, then do everthing via her/him. Otherwise, the perceived wisdom, especially in your case, would be to engage a female solicitor. I really wish you luck.

delete

thanks for the feedback - contacted INBS and address has not been changed and they will send me out a copy of an application form where it should indicate that either party can change it to have both sign. They had not notified me in writing of this change and it was only when I went to make a withdrawal I discovered it...

You can always contact the insurance company, and see how large a refund you'll get if you cancel the policy on his car now.

contacted insurance company but the payment has already gone through and the rep I spoke with didn't seem to think there was any way of retrieving that at this point as it's been processed. In order to cancel the actual policy, they would need that in writing from my husband, which obviously isn't going to happen.

dubinamerica said:

He's indicated he will sign but only if he can take out a few thousand euro for his own use.

Click to expand...

As it is a joint account there was nothing stopping him from doing so.