Tuesday, 29 October 2019

My bank closed my account because (due to their fuck up) it didn't comply with KYC/AML.

I don't depend on them for basic banking services, so this was relatively harmless. But imagine depending on these guys for your everyday purchases.

The irony here is that the KYC/AML compliance breach was found during a BdP (Central Bank of Portugal) audit.

Let that sink in. A KYC/AML audit caused my account to be closed. I could swear the purpose of KYC/AML was to protect the little guy, not to deprive him from basic banking.

Way to go, ActivoBank.

(In their defense, they warned my via phone a month ago. I thought it was a scam an ignored them. No further contact was made until today they texted me saying "Your account was blocked." )

submitted by /u/MRSantos
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