Can any Hsbc employee advise

Somerset

I don't understand this. I applied to open a Hsbc Current Account Advance online. Presumerably they credit checked me ( I haven't checked yet ). Received a letter saying :
''We're pleased to accept your application and now just need a couple more things to get you started :
- a completed Signature Record Form (enclosed) signed by you.
- 1 item of Identification and 1 item of Address Verification (see attached list of acceptable documents).
Please can you either send this documentation back to us in the enclosed prepaid envelope or take it to your local Hsbc branch''.
ID Document List - Driving Licence, National ID Card, Passport, HMRC bits, Benefits Agency Letter, Construction Industry Reg Cards.
Address Verification List - Driving Licence, Bank/Building Society Statement, Credit Card Statement, Mortgage Statement, Council Tax/Water Rates Bill, Utility Bill, Home Office letter, Motor Ins Certificate.

So I specially drove 20 miles to the nearest Hsbc. Presented my Hsbc letter, Passport (List 1) and Council tax bill (List 2). Where are your current account bank statements said the 'Account Advisor', we need the most recent month?. I pointed out the letter contents and said they hadn't been requested. He was adament that his branch needed to see them in establish that I could 'correctly' run a current account.
Annoyed ( because I could have brought them if I'd known ) I'd said ok, I'll have to come back with them. Another 20 mile trip today and saw same Advisor. He said ''I'll photocopy them'' - to which I said ''no. I've got no problem with you reviewing them to establish whether they demonstate whether I can run a current account properly but I'm not happy with you photocopying three pages of Lloyds statements full of private personal financial info''. So no account opened.

So questions :
1) If the Hsbc letter only asks for ID & Address proof, why does the branch insist on additionally seeing a months worth of statements and photocopying sensitive (to me!) personal information ?
2) If I were to post back (option per letter) a HMRC coding notice (List 1) and Council Tax Bill (List 2) would Hsbc open the account ?

Some might say, just let them. My point is, this is private info and I don't see why a Hsbc branch can demand it, when Hsbc Head Office apparently don't require it. Also I'm not using the Hsbc service to switch anything from Lloyds.

jonesMUFCforever

Simple - you don't want HSBC to copy your LTSB bank statement - you look suspicious to them - forget about it and move on.
LTSB is better anyway for current accounts - do they offer 4% on a free current account up to £7k at HSBC?

debtfreein4years

that should have been a manager now issue. the advisor didnt know what he was talking about. banks always prefer to see the past 3 months bank statments to know that you are ok at running your account but it is NOT a necessity.

I would stick with teh council tax statement and put a complaint in about the advisor asking for information that was not required. either go back to the branch or post the id that you were prepared to provide to the branch.

good luck

edited to add the bank photocopy the id provided to ensure that they comply with current money laudering regs.

withnell

If the information is too sensitive to give to HSBC, why are you opening an account with them, which would surely give them access to many months worth of information that is just as sensitive!

ShelfStacker_3

withnell wrote: »

If the information is too sensitive to give to HSBC, why are you opening an account with them, which would surely give them access to many months worth of information that is just as sensitive!

My thoughts precisely.

Somerset

jonesMUFCforever wrote: »

Simple - you don't want HSBC to copy your LTSB bank statement - you look suspicious to them - forget about it and move on.
LTSB is better anyway for current accounts - do they offer 4% on a free current account up to £7k at HSBC?

If there were anything suspicious about the Lloyds statements I wouldn't be volunteering them. Just looking to maintain my privacy with a branch policy that seems at odds with head office policy.

LTSB have been fine up till lately but seem to be making mistakes all the time now. Strange you referred to vantage. I've got two LTSB current accounts :
Account A - pays 6.5%. All my transactions through here.
Account B - pays peanuts - three transactions a month ( need them to be seperate )
Online Saver - used to pay 2% odd (not sure now). Holds a 'reserve' of cash that I'd fund the current accounts with.

I asked LTSB to add vantage to Account B - thinking I could switch the online saver funds here and get 4%. Said do not add vantage/mess with Account A as I'm happy with it's current status. Result, they added vantage to A and didn't touch B. When I spoke to the relevant CS (which was only achieved by a formal complaint ) I was told the inputter? had reviewed my request and decided I was better off with vantage on A rather than B - when I said A had a 6.5% rate, I was told this was an 'add-on' which wasn't visible on the inputter's screen. So 1) they had deliberately changed my instruction ie not a mistake and 2) They had made a decision about my accounts even though they accept their systems provide incomplete information ?

So this being the latest in a series of !!!!-ups, I thought it might be prudent to have a current account from a different provider - plus Hsbc have a decent monthly saver, LTSB don't.

Somerset

withnell wrote: »

If the information is too sensitive to give to HSBC, why are you opening an account with them, which would surely give them access to many months worth of information that is just as sensitive!

Why would opening an account with Hsbc give them any info, sensitive or otherwise ? It has a minimum funding requirement of £500 which I will meet - it has no requirement to switch my 'standard banking' at least per the CS that I enquired of before applying.

What ''many months of information'' am I giving them ? And how am I giving it ?

Somerset

debtfreein4years wrote: »

that should have been a manager now issue. the advisor didnt know what he was talking about. banks always prefer to see the past 3 months bank statments to know that you are ok at running your account but it is NOT a necessity.

I would stick with teh council tax statement and put a complaint in about the advisor asking for information that was not required. either go back to the branch or post the id that you were prepared to provide to the branch.

good luck

edited to add the bank photocopy the id provided to ensure that they comply with current money laudering regs.

I'm not bothered about a complaint. Just didn't understand the two different set of rules ! They've already photocopied the ID/Address - that's fine and pretty standard. Just didn't get why they demanded the LTSB's statements (one month) when the 'what you need to do now' letter made no reference to needing them.

allthingsconsidered2009

I agree with you Somerset. I encountered a branch of HSBC who tried this with me. I just walked out, went to another branch and that branch didn't require my statement.

Somerset

The answers seem to have gone a bit off-track.

The original question for Hsbc employee's is, if I send to head office the ID/Address verification they requested, will that be sufficient ?

noah271007

I imagine the reason HSBC branch requested your previous 3 months bank statements must got to do with whether you are suitable for current advance account. The requirements is to pay in £500 a month to qualify and that's probably the only reason i can think of. If you are not so happy, why don't you go somewhere else.