My HSBC account is getting closed. Has anyone experienced it?

zerog

My HSBC account was closed 60 days after I paid off a different credit card with the HSBC debit card. Interesting to know that Premier accounts are getting closed too

Lith

I got a letter again from HSBC saying -pay in 500 a month please-

i don't pay m 500 a month its all random amounts 60 170 200 now and then every month (they're just fussy)

I'm still paying my credit card off so i doubt HSBC would dare close my account while i owe on the credit card? and who's to say.... when i finally pay of that card (which will be next week...) - will they close the account? lol even if they close the account i'll just open another HSBC one (unless i cant) right?

HSBC - Nothing but a bunch of paranoid b/\stards

henm2

It is nothing to do with paranoia in this case and no HSBC are not closing your account.

All they are doing is changing your account terms from 'bank account' to 'current account' because you do not have a £500 monthly credit turnover through your account. Account number stays the same.

You might not in your case notice any practical difference. You will just not be eligible for formal overdraft/credit card increases,personal loans, the 4% regular savers account or some of their mortgage deals.

grumbler

Are you saying that "closing down" is a synonym of "downgrading"?

henm2

In that particular case yes. The letters ought to be clearer where it is a downgrade to different terms.

stclair

Is it because your ethnic? :rotfl:

http://www.bbc.co.uk/news/business-24285885

JuicyJesus

stclair wrote: »

Is it because your ethnic? :rotfl:

http://www.bbc.co.uk/news/business-24285885

Read that this morning. A lot of that is due to banks becoming a lot more risk-averse. Large payments coming in from overseas or large amounts being paid into accounts in cash by third parties without explanation (which appears to be the case in one of the cases in the article) are signs of dodginess as they are far, far outside the norm for most people.

This quote sums it up:

Barry Vitou is head of corporate crime and investigations at the law firm Pinsent Masons. He advises banks and businesses on complying with money-laundering legislation. He says banks have little leeway in how they can act, and what they can say to customers.

He said: "They have been told time and time again in recent years that money-laundering procedures, systems and controls that they have aren't up to scratch. They're in between a rock and a hard place. If they are suspicious, they have an obligation to report that suspicion under the UK money-laundering legislation, and they can't tell the customer. "

Quite. They are damned if they do, and damned if they don't.

Turtle

Lith wrote: »

I got a letter again from HSBC saying -pay in 500 a month please-

i don't pay m 500 a month its all random amounts 60 170 200 now and then every month (they're just fussy)

I'm still paying my credit card off so i doubt HSBC would dare close my account while i owe on the credit card? and who's to say.... when i finally pay of that card (which will be next week...) - will they close the account? lol even if they close the account i'll just open another HSBC one (unless i cant) right?

HSBC - Nothing but a bunch of paranoid b/\stards

Find another bank if you feel that way.

Lith

Feel what way ? 0_o i'll just re-open another HSBC one if they dare close it.


im not a drug lord or anything lol (plus i have 4 other accounts so... no skin of my bones fella)

Archi_Bald

Lith wrote: »

Feel what way ? 0_o i'll just re-open another HSBC one if they dare close it.

I doubt you will, mainly because they wouldn't let you open a new one with them if they just closed you down.