Shocking letter from HSBC

coolio_2

I really think the poster on the first page has a valid point. You are not allowed to tip someone off that you consider they may have possibly been money laundering. It cannot even come in the form of a 'can I transfer you to our special investigations team to discuss this further' if you called them up.

loopy-loo_6

We received a letter today from HSBC saying that they have reviewed our overdraft and confirmed that they want to provide us with a variable rate on-demand overdraft facility.....oh and its going to cost £25 per year as an arrangement fee, we have three accounts with them...£75 total...how rude is that. I've just called them and they've basically said that if we don't want to pay the fee, we will not be entitled to an overdraft facility on the accounts. Its a "business decision" thats been made, and they don't see the problem in customers being charged for their changes in procedure!!:mad:

JimmyTheWig

loopy-loo wrote: »

We received a letter today from HSBC saying that they have reviewed our overdraft and confirmed that they want to provide us with a variable rate on-demand overdraft facility.....oh and its going to cost £25 per year as an arrangement fee, we have three accounts with them...£75 total...how rude is that. I've just called them and they've basically said that if we don't want to pay the fee, we will not be entitled to an overdraft facility on the accounts. Its a "business decision" thats been made, and they don't see the problem in customers being charged for their changes in procedure!!:mad:

Can you consolidate all the overdrafts into one account and just pay the £25 once?

Or switch banks... There's some good deals to be had out there!

cherie1122

I had a similar letter today but nothing has been said about charging £25 per year for the overdraft facility - they just want to provide me with an overdraft at a variable rate of interest.

JohalaReewi

loopy-loo wrote: »

We received a letter today from HSBC saying that they have reviewed our overdraft and confirmed that they want to provide us with a variable rate on-demand overdraft facility.....oh and its going to cost £25 per year as an arrangement fee...

This thread is about HSBC closing their customer's account for no apparent reason, not charging for averdraft review. You should really start a new thread about this, not hijack this one.

formulaonefan

Just to let you all know. I have gathered all transaction proof documents and evidence. Wrote a letter with all transaction date, amount and description about each of those transaction and going to post it to HSBC today via 1st class post. Fingers crossed and lets see what HSBC have to say about this. I will keep you all posted of the results. I'm currently at stage III of my fight with HSBC to get bank account reinstated.

1. Call HSBC Security & Fraud - Done
2. Speak with someone at Branch - Done
3. Send a letter with transaction details and documents to back those transactions - Done
4. Complain to HSBC - Hope this won't be necessary
5. Complain to Financial Ombusman - Hope this won't be necessary

redrabbit29

Ch4rlieB wrote: »

Really don't see why your so bothered. Just go open a bank account at another bank.

Unless there is something your not telling us... Which is the reason why HSBC are closing the account.

I would be very bothered if this happened to me. My main account is actually with HSBC. I have numerous standing orders set up, numerous payment arrangements, I know my account number/sort code and card details off-by-heart, and I have been with them for about 8 years.

formulaonefan

redrabbit29 wrote: »

I would be very bothered if this happened to me. My main account is actually with HSBC. I have numerous standing orders set up, numerous payment arrangements, I know my account number/sort code and card details off-by-heart, and I have been with them for about 8 years.

Same here redrabbit29. I have been with them for 7-8 years (opened back in 2000). I Remember my a/c no and sort code by heart and can tell it even in my sleep. Got so many DD and Standing orders etc. I just don't feel like letting it go that easily and I won't. If I simply accept and move to another bank account this would spoil any future banking relationship I could ever have with HSBC (i.e. Mortgage, Savings A/C, e-ISA, CreditCards, Loans, Insurance or any of First Direct services etc). Whole lot of service I won't be able to use in the future forever. I can't allow that to happen. OK HSBC may not be that competitive account anyway but still I would like an option and a bank to go to.

Also I don't want to accept to something that I didn't do. Whatever HSBC thought about my account, It was a mistake. I'm here to provide proof and clear my name and I want my account back.

After I get it back I will do what I feel like with that account. Either move to another bank or continue to stay with them.

formulaonefan

Great News!!! I got a letter from HSBC today. They have reversed their decision to close my bank account now. I'm pleased I got my account back. I have provided them all the evidence and in their letter they thanked me for the information and reversed the decision to close my account.

Here is the full letter from them:

==============================

I write further to your recent letter dated .... Having now had the opportunity to consider the points raised, I would like to thank you for your comments.

In this letter I will outline the facts of the situtation, the Bank's understanding of your enquiry and summarise the Bank's position as regards the operation of your accounts.

The bank retains the right of review accounts at all times The Account review team examined your account and the decision was made to close your accounts giving you 30 days notice. You were advised of this decision by letter.

I have now reviewed the action taken and the points raised in your letter and I am pleased to advice you that the decision to close your account has been reversed.

Your account has now been returned to the status it held prior to commencement of this process.

I hope that this decision meets with your approval and that you will continue to enjoy banking with HSBC in the future.

Yours Sincerely
Account Review Team.

==============================

"I hope that this decision meets with your approval" - Yes it does, thank you!

I'm glad about this and I can carry on with my life without worrying about why? what? how? what did I do? etc.

Thanks to all for your comments. If you are going to do lots of transactions (i.e. moving funds between accounts and withdrawing huge amount of cash) in your current account please make sure HSBC is aware of it. I could happen to you! So please be aware.

witches_cauldron

Wow! OP- what sort of amounts were you withdrawing and transfering? Are we talking four-figure sums, five-figure? Six-figure?