HSBC closing account with money in

lighi

Hi,

I'm having a situation with HSBC where I have 30 days to get my money from the account before they shut it. The reason is valid and it's kind of my fault so that doesn't matter. But I'm not completely certain on what will happen.

The account they'll close is a current account, but connected to this I have a savings account with a significant amount of money saved. They don't mention this account at all. Could this one be closed as well, since it was created as part of the main one?

Also do you guys have any tips on best way to withdraw the money securely? I'm in the process of opening another account with a different bank, but assuming it won't be ready in time, is a withdrawal with a check in my name a good idea? I feel nervous about the sum, though. Likewise for transferring the money through online banking. I'd like to have some sort of proof of the transfer, in case something would go wrong.

Is there a preferred way of handling this without the risk of losing the money? I'm probably just being too cautious but I'm not familiar with the processes so you never know.

Thank you very much for your help!

thatsean

Open the new account and then wire the money over, or if you cant do that, get a bankers draft/write a cheque

GlamGirlie

If they have given you 30 days' notice then clearly they no longer wish to avail themselves of your custom.

All accounts in your name will be closed and a cheque posted to you for any credit balance held in any of the accounts.

You could ask them for a bank draft for the sum, this will cost you approx £12. HSBC do not issue cashiers cheques. Alternatively you could send it via internet or telephone banking. It is perfectly safe. And free (up to £10k -over this will require CHAPS at approx £20.00).

As for the new a/c not being ready, I see no reason why not, it only takes a few minutes for a new account to be opened in branch.