Payments provider ANNA Money and regulated institution PayrNet have released £701,626 to a Bolton property rental company after freezing its account for 82 days.
The company owner, identified as A.F., faced potential losses of nearly £100,000 after funds needed to purchase a rental property were locked inside the shuttered business account.
ANNA Money, which stands for Absolutely No Nonsense Admin, provides digital business accounts and administrative services for small businesses and sole traders. PayrNet is a regulated payments institution that manages funds held within accounts provided by financial technology firms such as ANNA Money.
A.F. had been a customer with ANNA Money for about three years without previous difficulty. The property rental firm transferred just over £700,000 into the account in three separate payments to prepare for buying a block of student flats.
Because the firm did not normally deposit such large sums, ANNA Money initiated compliance checks and requested source-of-funds evidence. Although A.F. provided extensive answers to due diligence requests, ANNA Money decided to terminate the account.
On July 30, ANNA Money confirmed it was working to return the money as quickly as possible. However, 40 days passed without payment, keeping the company out of its funds for 82 days.
With the property completion deadline looming three days after speaking with consumer advocates in mid-September, A.F. risked losing a 10 per cent deposit of £63,750, a non-refundable auction reservation fee of £29,374, and anticipated rental revenue.
A.F. repeatedly requested timescales and explanations from ANNA Money, and sent solicitors' letters to both ANNA Money and PayrNet detailing the urgent deadline and impending financial damage.
Under UK banking rules, banks and electronic payment providers possess legal authority to close accounts to enforce anti-money laundering regulations, prevent fraud, or end unviable commercial relationships. Regulations introduced on April 28 require providers to give 90 days notice, up from 60 days, and clearer explanations where legally permitted, though A.F.'s account was opened prior to these updates.
Following inquiries into the delay, PayrNet transferred £701,626 to A.F.'s designated bank account shortly before the completion deadline expired.
ANNA Money said: "We can’t go into the detail of the checks we carry out or how they’re concluded, so can’t comment on the specifics. Like all regulated financial institutions, PayrNet is required by law to carry out checks on accounts and payments. Those are confidential and that protects customers as much as anyone. We’re glad this has been resolved."
PayrNet said: "We take legal and regulatory obligations extremely seriously. While we’re unable to comment on individual customer matters, we work to resolve concerns as quickly as we can."
Hotels.com duplicate booking refund
Hotels.com has agreed to refund £1,151 to a nurse from North London after double-charging her credit card for a hotel reservation in Prague.
The traveler, B.C., booked two rooms for two people for a three-night stay in August on May 28, costing £576. B.C. initially attempted to pay using a John Lewis credit card, which is operated by financial provider NewDay.
After the payment screen went blank twice, B.C. submitted a third attempt using a NatWest credit card, which processed successfully. Three days later, B.C. discovered that NewDay had processed two separate charges of £576 on the John Lewis card in addition to the NatWest payment.
Hotels.com cancelled the two accidental bookings but initially refused a refund, citing non-refundable booking terms. A chargeback claim filed through NewDay was initially accepted but later reversed following an investigation.
NewDay operates branded store and store-associated credit cards for UK retail partners, while chargeback procedures allow card issuers to recover funds from merchant banks during payment disputes. Following further reviews of the technical glitch during booking, Hotels.com agreed to issue a full refund of £1,151.
DHL eCommerce and Evri parcel return
Parcel delivery firm Evri has issued an apology and confirmed the return of an overseas shipment after a custom duty dispute left a painting stranded in transit.
The sender, B.H. from West Sussex, paid DHL in May to transport an original painting to a friend living in New York.
Although tracking records indicated the parcel had reached the United States, the recipient received no delivery. DHL had transferred the package to a local US courier that required customs duty, but the recipient never received an email requesting payment.
Evri, which operates in partnership following a merger with DHL eCommerce in the United Kingdom, confirmed that parcels with unpaid customs duty are routinely held before being returned to the sender. Evri stated that the package is currently being returned to B.H.
Standard Life annuity payment setup
Pensions provider Standard Life has issued compensation and backdated payments to an investor after losing record of an £80,191 annuity purchase.
The customer, J.S. from Gloucestershire, accepted a Standard Life quote at the start of June to invest £80,191 in exchange for a 15-year income of £5,787 annually.
Standard Life subsequently informed J.S. that the initial calculation was incorrect and updated the annual income figure to £5,812. However, after the scheduled start date passed, Standard Life claimed to have no record of J.S., despite having received the £80,000 payment.
Annuities are retirement income products that convert a lump sum from a pension fund into guaranteed regular payments over a specified period or for life. Standard Life apologized for the administrative failure, issued a compensation payment, and confirmed that the annuity is now active with full backdated payments.
British Airways tax refund after illness
British Airways has refunded £159.80 in government flight tax to a passenger from Blackpool who missed a flight due to emergency hospitalization.
The passenger, D.M., was forced to miss a flight in March after being admitted to hospital with a severe bacterial infection. One month later, D.M. learned that airline passengers who fail to fly are entitled to claim back Air Passenger Duty directly from the airline.
Air Passenger Duty is an excise tax charged by the UK government on passengers departing from UK airports. Airlines collect the duty during booking but are not required to pay it to tax authorities if the passenger does not travel.
British Airways requested medical documentation, but customer service representatives were initially unable to access an emailed photograph of hospital records. Following further assistance, British Airways apologized for the delay and refunded the £159.80 tax fee.
