Account Inhibited - Under 18 (HSBC)

gymrat3

HSBC closed my account as I was 'defrauding' my account by sending 'too many' bill payments. They did say they won't put a marker on my file, CIFAS? they said I could possibly bank with them in the future depending on circumstances. Now I can't find a decent bank, one that doesn't block your debit card constantly, process card payments within one working day, HSBC were generally really good.

I am planning to open a first direct account once I turn 18 but I don't know how that is going to work as FD are part of HSBC.

Any recommendations for a good bank? I just opened an account at LTSB.

gymrat3

Once I turn 18, I am planning to upgrade to the silver LTSB account for the benefits but I heard barclays provide gadget insurance on top of phone insurance, I also want to know which bank is best for students (free insurance) that sort of thing.

WhiteHorse

gymrat3 wrote: »

HSBC closed my account as I was 'defrauding' my account by sending 'too many' bill payments.

What does that mean? Have they accused you of out-and-out fraud?

gymrat3

WhiteHorse wrote: »

What does that mean? Have they accused you of out-and-out fraud?

No none of that, I did have a 2 phone direct debits but they were in parents names etc. I sent money to friends nearly everyday for online purchases etc, bought loads of clothes and returned them, they said I shouldn't have this many transactions as there were card transactions nearly everyday.

agrinnall

What do the terms and conditions of your HSBC account say about the number of permitted transactions? If it doesn't say anything then I would consider making a complaint, it seems unfair for them to make online payment facilities available to you then penalise you for actually using them.

jonnyd281

I wonder if it is the amount of money moving in and out of the account that is causing the problem.

Yorkie1

I suspect they thought you were using a personal account to run a business.

gymrat3

They did say I could still bank with them in the future but do you think this will affect my application with first direct?

What other banks are good? Is LTSB good?

Helix

First Direct are very picky and it is unlikely you would get an account straight away at 18 anyway unless you are in a well paying job and have at least a bit of a credit history.

Plxply

Helix wrote: »

First Direct are very picky and it is unlikely you would get an account straight away at 18 anyway unless you are in a well paying job and have at least a bit of a credit history.

If he has £1,500 available couldn't he open a savings account with first direct then apply for a current account and shuffle between the two each month if he really wanted?

BoGoF

No matter who they go to, if they continue the same pattern the bank will suspect the account is being used as a business account and close it. The bottom line is whoever you end up banking with don't mix business with pleasure !