Account Freezing

Old Dec 16th 2019, 6:45 am
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Default Account Freezing

A bit of advice around banks and EOS payments etc please, any help much appreciated as ever.

When you quit and your company decide to tell the bank that you've quit and they freeze your account, how long does it last? Until new visa is given to them or longer?
If you have a car loan with them, do they do anything silly with it and clear it from your final pay?
Is there ANYTHING you can do to prevent it being frozen?
If not, is there anything you'd recommend doing before they find out?
Anything else to keep in mind?

Cheers
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Old Dec 16th 2019, 8:24 am
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Default Re: Account Freezing

Originally Posted by Scamp View Post
A bit of advice around banks and EOS payments etc please, any help much appreciated as ever.

When you quit and your company decide to tell the bank that you've quit and they freeze your account, how long does it last? Until new visa is given to them or longer?
If you have a car loan with them, do they do anything silly with it and clear it from your final pay?
Is there ANYTHING you can do to prevent it being frozen?
If not, is there anything you'd recommend doing before they find out?
Anything else to keep in mind?

Cheers
Open a new bank account and shift the money. I have always had a spare one here. Unless you are with ENBD you can get a LIV account online and takes minutes to do
Freeze usually happens until you A. Either have a salary certficate & visa for a new role or your outstanding loans/credit cards are paid in full
Yes they can take any outstanding amounts owing out of your EOSB
Ask company to give you a cheque then it isnt marked as a final payment . If sent electronically nothing you can do to stop it being frozen
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Old Dec 16th 2019, 8:39 am
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Default Re: Account Freezing

I had a car loan and they didn’t freeze.

That said, I also didn’t cash the EOS cheque until I had a new visa.
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Old Dec 16th 2019, 12:10 pm
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Default Re: Account Freezing

Originally Posted by reddiva View Post
Open a new bank account and shift the money. I have always had a spare one here. Unless you are with ENBD you can get a LIV account online and takes minutes to do
Freeze usually happens until you A. Either have a salary certficate & visa for a new role or your outstanding loans/credit cards are paid in full
Yes they can take any outstanding amounts owing out of your EOSB
Ask company to give you a cheque then it isnt marked as a final payment . If sent electronically nothing you can do to stop it being frozen
Originally Posted by Millhouse View Post
I had a car loan and they didn’t freeze.

That said, I also didn’t cash the EOS cheque until I had a new visa.
Thanks both, will be asking for a cheque, sounds the easiest.
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Old Dec 17th 2019, 7:35 am
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Default Re: Account Freezing

If you're not paid by WPS, they don't need to mark the bank transfer as "final salary". Have a word with the finance person, if he/she is not a prick, shouldn't be an issue. Cheque definitely best though.
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Old Dec 18th 2019, 5:53 am
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Default Re: Account Freezing

Originally Posted by Gavtek View Post
If you're not paid by WPS, they don't need to mark the bank transfer as "final salary". Have a word with the finance person, if he/she is not a prick, shouldn't be an issue. Cheque definitely best though.
Had a chat with finance lady last night whilst pissed. Got her to agree to not mark it.
Now need to follow up and make sure that sticks
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Old Dec 18th 2019, 6:03 am
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Default Re: Account Freezing

Originally Posted by Scamp View Post
Had a chat with finance lady last night whilst pissed. Got her to agree to not mark it.
Now need to follow up and make sure that sticks
Are you departing the balmy gulf shores?
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Old Dec 18th 2019, 6:06 am
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Default Re: Account Freezing

Originally Posted by weasel decentral View Post
Are you departing the balmy gulf shores?
Not yet kind sir, just going to do the same thing for someone else basically. Needed a new challenge, been with the current company a long time and time to start milking this place for what I can get.
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Old Dec 18th 2019, 6:20 am
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Default Re: Account Freezing

Originally Posted by Scamp View Post
Not yet kind sir, just going to do the same thing for someone else basically. Needed a new challenge, been with the current company a long time and time to start milking this place for what I can get.
aha OK, well good luck with the new role - change is definitely required to keep the interest levels up and fill the cash bucket.
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Old Dec 18th 2019, 7:49 am
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Default Re: Account Freezing

Originally Posted by weasel decentral View Post
aha OK, well good luck with the new role - change is definitely required to keep the interest levels up and fill the cash bucket.
Thanks very muh. Yeah for sure. Deciding to leave was tough, mainly for emotive reasons, we are a good company (from the outside perhaps). Lots of frustrations made it easier though, and a bump in cash obvs.
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Old Dec 18th 2019, 8:14 am
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Default Re: Account Freezing

Originally Posted by Scamp View Post
Thanks very muh. Yeah for sure. Deciding to leave was tough, mainly for emotive reasons, we are a good company (from the outside perhaps). Lots of frustrations made it easier though, and a bump in cash obvs.
Congratulations Scamp!

I'm stuck in my golden cage until September 2020 (unless I can convince them otherwise) but the plan is to depart soon after. I've sat at this desk for 10 years!
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Old Dec 18th 2019, 8:20 am
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Default Re: Account Freezing

Originally Posted by Millhouse View Post
Congratulations Scamp!

I'm stuck in my golden cage until September 2020 (unless I can convince them otherwise) but the plan is to depart soon after. I've sat at this desk for 10 years!
Cheers bud.
It's tough to leave the gratuity, when you know it's building solidly....but also nice to cash in.
Where you heading? Europe?
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Old Dec 18th 2019, 8:26 am
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Default Re: Account Freezing

Originally Posted by Scamp View Post
Cheers bud.
It's tough to leave the gratuity, when you know it's building solidly....but also nice to cash in.
Where you heading? Europe?
Well, I guess the gratuity will just start building up somewhere else so it's not really a loss... I don't get it here. I'm waiting to hit the 10 years to qualify for our pension scheme.

Deffo staying here for now, and open to options. Might look at joining a startup (interesting), spinning out (lucrative but hard to execute - we are trying), or a government investment fund (not so interesting but a new set of challenges). In all cases, I can't see being in this job at the end of 2020.


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Old Dec 19th 2019, 5:37 am
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Default Re: Account Freezing

Originally Posted by Millhouse View Post
Well, I guess the gratuity will just start building up somewhere else so it's not really a loss... I don't get it here. I'm waiting to hit the 10 years to qualify for our pension scheme.

Deffo staying here for now, and open to options. Might look at joining a startup (interesting), spinning out (lucrative but hard to execute - we are trying), or a government investment fund (not so interesting but a new set of challenges). In all cases, I can't see being in this job at the end of 2020.
Yeah very true and the split at the new place is higher and a higher basic, so may as well start building again.
They're three very different options....I like the idea of a startup, but that's mainly for a cool office and jeans every day.
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Old Dec 19th 2019, 2:07 pm
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Default Re: Account Freezing

Good luck, Scamp
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