At Zing our top priority is keeping your money safe. This means we may need to restrict your account to protect you and your money. We know this can be frustrating and inconvenient but it's the greatest protection we have to make sure scammers and fraudsters can't access what isn't theirs.
We do this for a number of reasons:
- For your own financial safety – to protect you and your money from fraud or account takeover. If we see any high-risk activity, we'll usually alert you during the transaction to help you spot potential scams. However, sometimes the activity is such where we think blocking the account will provide the greatest protection. We utilise our knowledge of current fraud trends and behavioural information to help us better balance protecting your money and account, while allowing you to use the account when you need it most.
- We have to for legal or regulatory reasons – as a regulated e-money institution we have to follow laws and regulations. Sometimes these requirements mean we have to restrict your accounts, and may not be able to fully explain the reasons why. We know this can be frustrating, and will do our best to explain the best way we can in line with our legal and regulatory obligations. The key rules we need to follow are around Anti-Money Laundering (AML) and Know Your Customer (KYC). This helps protect you and us from involvement in illegal activities and makes sure you are who you say you are – both at the point of opening your account and at times, when completing transactions.
- We suspect you're using your account in a way that isn't aligned to the terms and conditions – our terms and conditions are clear about the activity that is and isn't permitted. If we see from your account activity that you may be doing something you're not permitted to do, we may block your account while we try and get in touch with you.
In all these cases we'll send you an email to explain the situation and request any information needed to help us get your account back up and running. If you have any questions, or you're still not sure why we've blocked your account please get in touch via in-app messaging or email us at support@zing.me.