HSBC - Why would they be holding my money??

Chuzzle

I've probably posted this in the wrong place but I really don't know where to post it ......Short version of my Loooooong story - I foolishly paid someone a sum of money via bank transfer (as they don't use paypal), for some goods they were selling on Facebook. I bank with Natwest and they bank with HSBC after a lot of emails back and forth my money is being "held" by HSBC and will clear sometime but until then I cannot have my goods.

WHY would HSBC hold my money before letting it clear into the other persons account? They've held it for over two weeks now :-( I feel that the seller is probably fobbing me off but I would like it if an "Official" HSBC employee could explain a bit for me?

Thanks

Scarpacci

I'm not an HSBC employee, just a lowly customer, but I would say there's about a 99% chance the seller is lying to you. People who want buyers to pay by bank transfer are almost always scammers. It's not a safe method of payment for buyers and small-scale online traders really should not be requesting payment like that.

Anti-money laundering could lead HSBC to hold onto the money, but I don't think they would hold on to it for two weeks. Usually, banks try sort out dubious transactions very quickly so as not to raise the suspicion of the potentially criminal account holders. If there's a drug king pin using HSBC (apparently they're the bank of choice for such characters! ), they're going to be paying attention to how long transactions take to come in. If they see a transaction takes two weeks, they're probably already emptying their other accounts and fleeing the country!

So in short, I would doubt HSBC are actually holding this money and would suggest the seller is indeed lying to you.

meer53

I think you've been ripped off. How much was it and what did you buy ?

The only way HSBC would "hold" the money was if it was suspected money laundering. If it was, the recipient of the funds wouldn't be told about this, just that their account was frozen. Thats the only possibility really.

I think it's more than likely the seller is lying, do you have any contact details for them ?

Chuzzle

meer53 - I have email address for the person, I know their business page on facebook as well. It was over £100 that i stupidly sent (don't know WHY i didn't send a cheque) for some material.

Chuzzle

As I'm not an HSBC customer is there anyway that I can get a response from them? I know they wont tell me anything about the other persons account because of dpa, but surely they could give me some details of when the payment cleared? I have a reference number from my bank (Natwest) and was told to give this to the seller so they can ask HSBC about the money.....If I use the same reference number would HSBC tell me anything?

meer53

Chuzzle wrote: »

As I'm not an HSBC customer is there anyway that I can get a response from them? I know they wont tell me anything about the other persons account because of dpa, but surely they could give me some details of when the payment cleared? I have a reference number from my bank (Natwest) and was told to give this to the seller so they can ask HSBC about the money.....If I use the same reference number would HSBC tell me anything?

HSBC won't be able to tell you anything at all. Try posting your problems on their FB page, you might get a response.

JuicyJesus

Chuzzle wrote: »

meer53 - I have email address for the person, I know their business page on facebook as well. It was over £100 that i stupidly sent (don't know WHY i didn't send a cheque) for some material.

While a cheque could be stopped, as soon as it was paid you would have had exactly the same issue regarding getting the money back. You have no more consumer protection with a cheque than you do with a bank transfer or cash.

From what you say, you have been scammed. Sorry.

innovate

Sadly, you can probably kiss your money goodbye, but you should be reporting this to the Police, as well as to your local Trading Standards, to Facebook and to the HSBC Fraud department (going by latest news, expect least from the latter).