French Fintech Account Block

Summary

French fintech companies must provide clear reasons for blocking accounts and handle remaining funds transparently. Funds are generally returned to the account holder unless legal obligations dictate otherwise. Consider consulting a financial regulations lawyer or filing a complaint with the French Financial Markets Authority for further assistance.

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Is it legal for a french Fintech when they blocked my business account to send money back to my customers instead of allowing me to withdraw it to another bank?
To provide accurate information, I need to know where you are located. Laws can vary significantly based on jurisdiction. Could you please share your location?
Franc
It sounds like you're dealing with a significant issue involving a fintech company and blocked business funds. French consumer protection laws and financial regulations might be relevant here.
Could you please confirm if you are in France or another location? This will help ensure the information provided is accurate.
I'm in France, my company is French and the Fintech is French aswell
It appears you're dealing with a complex issue involving the blocking of your business account by a fintech company. French financial regulations and consumer protection laws will indeed be relevant here. Key points to consider:
- French law requires financial service providers to act transparently and fairly.
- Blocking an account and redirecting funds should follow specific legal procedures.
To better assist you, could you share if you’ve received any formal communication or explanation from the fintech company about the blocked account and the decision to send money back to your customers?
Yes, they said that they blocked account for suspicious behaviour which they haven't explain in exact, and sent my remaining balance to the last * sensers
It seems like you have a substantial issue with the French fintech company. Here's some general information about your situation:
- French financial regulations require transparency and fairness in handling accounts.
- Blocking accounts for "suspicious behavior" without a clear explanation might not comply with regulations.
- Redirecting funds should generally follow legal procedures and provide clear communication.
Have you considered filing a complaint with the French Financial Markets Authority (Autorité des Marchés Financiers) or seeking direct legal advice?
I would just to ask, what legally they should do with remaining balance after blocking account
Legally, in France, after blocking an account for suspicious behavior:
- The fintech company must provide clear communication and justification for the account block.
- Remaining funds should be handled transparently. Generally, funds should be returned to the account holder unless there is a legal requirement to return them to customers.
Have you considered consulting with a lawyer specializing in financial regulations to explore your options?