AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
UK banks must apply money laundering rules and 'know your customer' checks, so a payment that is large, cross-border or unlike your usual activity can be paused while they ask where it came from. The question is routine, not an accusation. Answering promptly with documents that trace the money (Nigerian bank statements, a sale agreement, a gift letter with the sender's statement) usually ends it.
You were expecting money from Nigeria: proceeds of a land sale, a parent's contribution to a deposit, your own savings. Instead of a credit you get a message asking you to explain the payment, or a call from the fraud team. It is unsettling, especially when the money is plainly yours. This guide explains why it happens, what the bank is allowed to do, and what to send so the check closes quickly.
Why the bank is asking
UK banks work under money laundering legislation, 'know your customer' guidance and rules on preventing fraud and scams. The Financial Ombudsman Service's guidance to firms on frozen accounts and blocked payments describes two main triggers: activity that might mean the account is 'being used for unlawful purposes', and transactions the bank needs to confirm you authorised. Payments from abroad, large sums, and payments that do not match what the bank knows about your income all tend to prompt questions.
None of that assumes wrongdoing. The bank has to be able to show it understood where a significant sum came from. Your job is to make that easy.
Why the bank may say very little
Sometimes a bank is legally constrained in what it can tell you. Where a bank is concerned about the source of money, it may report to the National Crime Agency and ask for a 'defence' before releasing it. The Law Society's guidance describes the timing: the NCA has seven working days to consider the report, and if it refuses, a moratorium of a further 31 calendar days follows, which a court can extend. During that time a firm may also be unable to discuss the matter fully. If a bank goes quiet for a week or more, this is one possible reason.
What evidence to send
Match the evidence to the story. The aim is a paper trail from the origin of the money to the payment that arrived.
| Where the money came from | Evidence that usually helps |
|---|---|
| Your own savings in Nigeria | Statements from your Nigerian bank showing the balance building up over time, and the outgoing SWIFT confirmation |
| Sale of land, a house or a car | Signed sale agreement, receipt or deed, and the statement showing the sale proceeds arriving before they were sent |
| A gift from family | A signed gift letter stating the amount and that it is a gift, the sender's ID, and the sender's statement showing the payment |
| Rent from a Nigerian property | Tenancy agreement and statements showing rent received |
| Payment for work | Contract or invoice and the payer's remittance advice |
| Inheritance | Grant of probate or letters of administration and the estate's distribution |
- Send clear PDFs, not phone photos, and translate anything not in English.
- Keep the amounts consistent: if the sale was in naira and the transfer in dollars, show the conversion step.
- Answer exactly what is asked, and keep a copy of everything you send.
How the Ombudsman views these checks
The Ombudsman says blocks for checks on fraud or criminal activity are 'usually' reasonable. What it looks at is how the bank acted: its reasons and evidence, whether the restriction was proportionate, how it communicated with you, what help it offered to regain access, and whether the block was likely to cause you financial harm. It can tell a bank to put things right and to pay compensation for distress or inconvenience.
If the check drags on, complain to the bank in writing. For payment services, the Ombudsman says a firm has 15 days to respond to a complaint (8 weeks for most other complaints). After a final response you have six months to take it to the Ombudsman, which is free. If the account is frozen rather than one payment held, see UK account frozen after money from Nigeria.
Preparing before the next transfer
- Tell your bank in advance about a large incoming payment and what it is for, and ask whether the bank can note it on your record.
- Assemble the evidence pack before the money is sent.
- Ask the sender to put a clear reference on the payment, such as 'own funds' or 'gift from mother'.
- Split very large sums only if there is a reason (such as the US$10,000 daily domiciliary limit in Nigeria), and explain the split; unexplained splitting raises more questions, not fewer.
- See proof of source of funds from Nigeria for document detail.
Where Pryme fits
Evidence is easier when the documents can be checked. From a Pryme account, you can generate a verifiable receipt or statement that the bank can confirm is genuine and unaltered. See receipts and statements and the multicurrency account.
Questions people ask
Why is my UK bank asking where money from Nigeria came from?
UK banks must apply money laundering rules and know-your-customer checks. Large, cross-border or unusual payments are routinely paused while they confirm the source.
What documents should I give my bank for money from Nigeria?
Documents that trace the money: Nigerian bank statements, a sale agreement, a gift letter with the sender's statement, a tenancy agreement or an invoice, depending on the source.
Why won't my bank tell me what is happening?
Where a bank reports to the National Crime Agency, it may have to wait seven working days and possibly a further 31-day moratorium, and may be limited in what it can say.
Can I complain if the bank holds my money too long?
Yes. Complain to the bank first; for payment services it has 15 days to respond. Then you can go to the Financial Ombudsman Service within six months of the final response, free of charge.
Sources
- Financial Ombudsman Service: Frozen accounts and blocked payments · accessed Oct 2026
- The Law Society: Your AML questions answered · accessed Oct 2026
- Financial Ombudsman Service: How to complain · accessed Oct 2026
- Mondaq (Pavestones): Key regulatory update, the CBN Foreign Exchange Manual 2026 (24 Jun 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.