HSBC closed my account?

ro888

I was shocked when I received a letter from HSBC on Friday which says
"We write to advise that we have undertaken a review of your account and having done so no longer wish to provide you with banking facilities and have chosen to end the relationship between yourself and HSBC. Your acoount is to be closed on 23 Oct 2008.

I got no "debit or any overdraft" on my account. Basically, I didn't do anything wrong with HSBC. (May be I have been getting too much interest from the saving account over years)

Ok, I went to the branch and the officer said as the letter was issued from the Centre Manager. There was a notice sent as a 14 days notice. They can't do nothing. But advised me to called up the complaint line. (The notice was sent on 09/10/2008 but arrived on 11/10/2008, the 14 days notice wasn't really fully 14 days for me.)

Ok, I called up the 0845 complaint line of bank-ombudsman and the gentleman just said. "They (HSBC) have the right to choose which customer they want to do business with. They can close your account for any reason providing they give you 14 days notice. (So? what is the reason?) He said he can't help too much about this"

Ok, I called up the HSBC telephone banking 0870 number and asked for the reasons. Still no reason at all. But the gentleman said they will arranged a call back on next Monday. (What about my account? It might be closed at any time...) He said he can do nothing.

Then, I was shopping in ASDA (A rainy Saturday) and found that my card was no longer accepted. Ok, I went to the ATM for some cash. However, my card was just retrained. This made me way back to home for cash in a such windy and rainy day. I did try to call them up again. "Your account seemed to be closed and there is just no reason. Sorry, we can't help... Please give us a call on next Monday. "

Can anyone give me some advice regarding to this situation?

Lokolo

Complaining to the banking obsumda... won't do anything, they don't tell HSBC what they do.

Its in the T&Cs of the account, numerous other banks also do this.

I would assume that you either don't use the account enough, were a risk factor to them or something, not sure really!

They sometimes close accounts if they are suspecting money laundering (not saying you do) but they play the 'better to be the safe than sorry' card.

Ring up the HSBC complaint line and they will tell you why your account was closed.

ro888

Lokolo wrote: »

Complaining to the banking obsumda... won't do anything, they don't tell HSBC what they do.

Its in the T&Cs of the account, numerous other banks also do this.

I would assume that you either don't use the account enough, were a risk factor to them or something, not sure really!

They sometimes close accounts if they are suspecting money laundering (not saying you do) but they play the 'better to be the safe than sorry' card.

Ring up the HSBC complaint line and they will tell you why your account was closed.

I am quite sure that I got sufficient amount of money to keep in the bank. Once again, I am an UNI student only. What sort of risk factor I can bring to them???

Lokolo

Are you into your OD and not getting yourself out of it?

ro888

Lokolo wrote: »

Are you into your OD and not getting yourself out of it?

No, I got no charge on my account. I didn't have any credit card. To be honest, I should be the safest customer for them.

PROLIANT

I wouldn't waste another second of your time with these fools, get your money and walk away, go to another bank like Bank of Scotland-Halifax and open an account with them, I recommend them as they are a very helpful bank and listen. Good luck.

Lokolo

Indeed customers happiness is dependant on the customer and the bank.

I for one would never walk away from HSBC, I have found their service outstanding, but obviously there is plenty of time for that to change!

YorkshireBoy

Have you been using your account for gambling/matched betting purposes?

Milarky

ro888 wrote: »

Ok, I called up the 0845 complaint line of bank-ombudsman and the gentleman just said. "They (HSBC) have the right to choose which customer they want to do business with. They can close your account for any reason providing they give you 14 days notice. (So? what is the reason?) He said he can't help too much about this"

He doesn't know what he's talking about - not a surprise really as it's only a 'helpline' staffed by low level operatives.

There is no such provision under either the old or the new (recently issued) HSBC ''Current Accounts and General Terms and Conditions'' In particular, here is what is does say about them closing your account and notice:

11.4 If we wish to close your account, we will give you at least 30 days’ notice in writing unless there are circumstances which justify us in closing the account on earlier notice.

That's pretty clear to me. Also, see the Banking Code [7.6] "Under normal circumstances, we will not close your account without giving you at least 30 days’ notice."

So, HSBC have to have acted because they consider you've done something wrong - which you haven't according to your own account. You have right to complain - and then it's off to the FOS on the assumption that HSBC are as quick whacking out the standard 'review and final notice' letter as they were when they closed my accounts abruptly.

[Did you pay your salary into the current I wonder? Not doing that may have triggered this. But whatever their 'reasons' they will have say more about it than this when you complain to them]

ro888

YorkshireBoy wrote: »

Have you been using your account for gambling/matched betting purposes?

No, I never do gambling. I am a good man, lol.

ro888

Milarky wrote: »

He doesn't know what he's talking about - not a surprise really as it's only a 'helpline' staffed by low level operatives.

There is no such provision under either the old or the new (recently issued) HSBC ''Current Accounts and General Terms and Conditions'' In particular, here is what is does say about them closing your account and notice:

That's pretty clear to me. Also, see the Banking Code [7.6] "Under normal circumstances, we will not close your account without giving you at least 30 days’ notice."

So, HSBC have to have acted because they consider you've done something wrong - which you haven't according to your own account. You have right to complain - and then it's off to the FOS on the assumption that HSBC are as quick whacking out the standard 'review and final notice' letter as they were when they closed my accounts abruptly.

[Did you pay your salary into the current I wonder? Not doing that may have triggered this. But whatever their 'reasons' they will have say more about it than this when you complain to them]

I am still an undergraduate at full time study. No get job at the moment. All the money in my account is for my tutition fee and living expenses.