HSBC closed my account?

sutton111

ro888 wrote: »

I know I am fishy. However, the bank nowadays is borrowing to those ppl they think that are able to pay back but it isn't in reality. And kicking customer who is fishy but doesn't owe them any money. It's somehow getting themselves into trouble.

so are they closing your account?

Lokolo

The fact is if the bank thinks money laundering is happening they can close the account.

The banks don't want to get into trouble.

They are not going to listen to your excuses, even if they are right.

How to get around it? Don't go moving around large sums of cash in and out of your account.

ro888

The lady on the phone just said, "We will contact you later, thank you for your cooperation" They might be re-opening my account. But I am wondering if I will be blacklisted. HSBC doesn't understand a few things:

1. Tuition fees can be very expensive, especially for students not paying home fee.
2. There are many ways to pay tuition fees, including parents' support but not only asking for a loan.
3. There are still people getting paid by cash.
4. There are still people who don't trust the bank and rather have their money save at home, lol.

ro888

I_Used_To_Lurk wrote: »

Your story just don't add up mate:rolleyes:

Your parents' employers only paying them in cash. Sending so much money abroad. 16k tuition fees...

Nah mate:rotfl:

I know, but it's true. Living standard are extremely high in Tokyo, it isn't really much for 1 or 2K per person per months. For the tuition fees, I believe there are at least 25% of students paying 10k to 16k (which is increasing) a year in UK uni.

Lokolo

ro888 wrote: »

I know, but it's true. Living standard are extremely high in Tokyo, it isn't really much for 1 or 2K per person per months. For the tuition fees, I believe there are at least 25% of students paying 10k to 16k (which is increasing) a year in UK uni.

Well that fact is incorrect. I highly doubt 1 in 4 students are international.

ro888

Lokolo wrote: »

Well that fact is incorrect. I highly doubt 1 in 4 students are international.

You are right. The universities are looking for more and more money these days. The best way to do is to accept more international students and increasing the fees year after year.

lightisfading

Sorry ro888 but I used to work in HSBC and a young person (I'm assuming that as you're a student, correct me if I'm wrong) receiving £10k in cash would ring very loud warning bells. If they have serious doubts your account would be reported for investigation... and no they would not tell you (it's illegal to inform anyone suspected of money laundering that they are suspected). You may be completely innocent but good luck convincing them!

" occasional transfer to my brothers studying in foreign country"

How much are you transferring? If it's a large amount I don't see why the money for your tuition fees etc is being transferred out again. (if it's a small amount it's inconsequential).

DaisyFlower

I_Used_To_Lurk wrote: »

ro88 is now claiming that HSBC have actually TOLD him they suspect him of money laundering. i doubt they would tell a customer this. I am wondering if this entire thread is a joke.

Was just thinking the same thing.

However it did make me think about how I manage our accounts as I have a few online savings accounts as well as our current account that I use as monthly "pots" for different things. Sounds like I am ok though re moving money around in this way as all the same bank and name.

peediedj

your lucky i have been trying to get hsbc to clsoe my account for 3 mnoths now,constant letters go unactioned and they keep charging me,i have a suprise for them they aint getting no cash of me as not my fault

lightisfading

peediedj wrote: »

your lucky i have been trying to get hsbc to clsoe my account for 3 mnoths now,constant letters go unactioned and they keep charging me,i have a suprise for them they aint getting no cash of me as not my fault

You've mentioned this elsewhere peediedj. You must have gone overdrawn at some point to be in a minus figure - so thus it is your fault. Or did they just randomly take money out of your account? You're getting charged because you're overdrawn. They will not close your account while it is overdrawn. Go into the bank, pay off the money you owe, and voila account closed.