The HMRC has hit back at a wave of viral posts wrongly claiming that bank transfers over £800 are being automatically frozen for 24 hours.
The scare story, which has been shared tens of thousands of times on Facebook, TikTok and X, alleged that a new rule meant payments above this threshold were blocked by banks as part of fraud checks ordered by HMRC.
But independent fact-checkers at Full Fact said there is “no truth whatsoever” in the claim, which has triggered panic among families and small businesses worried about being locked out of their own money.
In a statement, HMRC said: “These claims are completely false. There are no such rules.”
Full Fact investigated the rumours after spotting multiple posts online telling people to keep payments under £800 or risk losing access to their accounts.
In one widely shared example, a user claimed: “From 1st September if you transfer over £800 to anyone, it will be frozen for 24 hours. This is an HMRC directive.”
The fact-checking group said: “We’ve seen a number of posts on Facebook and X (formerly Twitter) in recent days which falsely claim that any bank transfer over £800 will be automatically frozen for 24 hours. This is not true.”
It continued: “There is no evidence that HMRC has introduced such a rule, and HMRC itself has confirmed to us that it has not.”
Bank checks, but no HMRC rule
Full Fact pointed out that while banks do sometimes delay payments to carry out fraud or money laundering checks, this is not linked to any specific sum and has nothing to do with HMRC.
The organisation added: “Some banks may occasionally delay payments while they investigate potentially suspicious activity, but this is not triggered by a set threshold of £800, or any other figure, and is not connected to HMRC.”
Wider trend of financial misinformation
The story is the latest in a series of false online claims about banking rules and government policy that have spread rapidly on social media. Experts warn that these hoaxes can sow distrust in official bodies and cause unnecessary stress for ordinary households.
Full Fact cautioned: “It’s important not to share claims online unless you’re sure they’re accurate.”
The group said that repeated circulation of such myths risks undermining confidence in the banking system and could even prompt people to make poor financial decisions based on falsehoods.
The HMRC clarification will come as a relief to millions who make routine payments well above £800 for household bills, car purchases or family support. Many small businesses also rely on bank transfers of far higher amounts to pay suppliers or wages, and any suggestion of 24-hour freezes caused alarm.
HMRC said that while it takes fraud seriously, it had issued no such directive and had no plans to interfere in personal or business bank transfers in the way suggested by the rumours.
