Vanishing Account/Money - HSBC Regular (8%) Saver

village_life

Hi

Has anyone experienced the same thing - I had a regular saver account with HSBC (one of the 8% ones) that was due to mature this thursday 23/03....

Since the weekend, the account (and its significant balance!) has vanished from my online banking view- and a call to the atrocious indian call center has got me nowhere....

They didnt even send me any statements or records - so I have little to show for the account, apart from a big black hole in my savings....

Has this happened elsewhere?

murf

Make sure u stop your standing order, they will take another months worth on your mature date if you dont .I think you need branch help as as you say HSBC call centres are useless .My reg saver tranformed in to a flexable saver account after a few days ..

village_life

they were clever enough to stop the standing order once the last of the 12 payments was taken...

i am hoping they are crunching the numbers and gonna dump the cash in my account later this week, but when £3k goes missing overnight one starts to worry :-(

misskool

they take 5-7 working days to transfer the money from your regular saver to your highest interest savings account with them (websaver, instant access, etc).

Strange that the call center couldn't see your regular saver account.
They do send out a closing statement (strangely I received statements after 9 months and at the close of the regular saver)

They have the money there, might just give them one or two more days to clear it into your account.

gardnjam

I work for HSBC in one of the uk call centres based in hertfordshire.

It is not unusual for the regular saver to dissapear from internet banking a day or two before the a/c matures.

The day the a/c matures one of a few things may happen.If you have a flexi saver or an instant access saver,the money will be paid into one of those a/c's. If you dont have one of those a/c's allready the regular saver converts to a flexi saver.

The day the regular saver matures the name may still show as regular saver but you should be able to access the funds.

hope this helps