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

henm2

It's a difficult one. If it's supposedly irregular (to the bank) uk transactions then the bank will not discuss further due to the 'tipping off' legal issue. They will usually close the account.

If connected transactions are foreign ones and more regular (eg salaries/pensions in or payments out for property abroad)and they are with countries deemed to have less than minimum international anti money laundering (AML) procedures/regulations then usually you are invited for an appointment to discuss further. Once that process has been done (and in most cases done successfully it would appear) and account relationships carry on then you will probably not be hassled again by the bank.

In the latter case it does not go on a database.

kirkbyinfurnesslad_2

Lith wrote: »

So they cant offer me an account? because they closed it down? lol


banks have a short memory dude how did the 'credit crunch' happen?

oh wait... j/k asides....




Calling me an idiot? do you even know me? :rotfl:

Think what will work? they're just fussy b/\stards PLEASE PAY IN 500 A MONTH !!!! it's pathetic but like i said im not fussed i pay in what i can i don't use it that much.


idiot eh ? ignorance is bliss my friend.

Yes if you think they will simply open you a new account

joncombe

henm2 wrote: »

It's a difficult one. If it's supposedly irregular (to the bank) uk transactions then the bank will not discuss further due to the 'tipping off' legal issue. They will usually close the account.

I have concernes over this. Like I suspect a few posters I have a savings account that I can connect to one "nomindated account". Since the vast majority of savings accounts seem to be on the basis that you get an introductory "bonus" rate for the first year which then drops, I am in the habit of switching savings account each year when the bonus rate ends.

So I open a new account with a small balance from my current account, then transfer the balance from the old savings account to my current account, then transfer that from my current account to my new savings account (and subsequently close the old account). I've done this for a few years without problem but last year, two payments I made (via Faster Payments and selected to occur "immediatly") were flagged as needing "additional security checks". They were subsequently allowed through a day later. I went into the branch when this happened a second time, but the member of staff there was very evasive and wouldn't say why (and turned the screen away to stop me seeing when she got the message up). I suspect this legislation was the reason and the transactions were flagged as suspect.

My account was not closed, but my bonus rate on my current savings account is soon to end. I am concerned if I do the same this year my account will be closed under whatever legislation this is. I can account for all the money in my accounts and it is just being transferred between accounts all in my name. There is no transfer of funds from any other persons bank account, foreing accounts or anything like that. Am I right to be concerned here? What can I do to avoid it?

henm2

In the circumstances you describe there are no suspicious issues and you should have no problems at all with any bank relating to anti money laundering procedures etc.