hsbc 'Safeguard' letter

heathrow

It's nothing to do with safeguarding the customer and everything to do with HSBC covering its !!!! on Know Your Customer/Anti Money Laundering.

Friend of mine has been working on a KYC/AML project for Barclays for the last 3 years...

wendyjw

It's a ridiculous nonsense. I received my first safeguarding letter and then phone call just after I moved to New Zealand. I literally had only just left the UK and updated my details else they wouldn't have had my phone number. After confirming all my details were unchanged they wanted to know about employment and income and when I told them I had only just arrived in nz 2 weeks earlier from the UK so had no employment or income nor did I know when I would they wouldn't have it and insisted I give them info I didn't have. They then failed to record the information I did confirm. Over the following weeks I received a barrage of early morning phone calls that woke me at 5-6am prompting me to install a do not disturb function on my phone to prevent any further early wake ups. Clearly HSBC are incapable of working out time difference.

Then I received lots of letters about safe guarding. These were a bust because they requested I email an address that didn't work lol! Only after FB enquires did the correct one come to light so I emailed with the ref number to be told- the ref number from the letter was not the ref number they wanted. They wanted the other number at the bottom of the letter.

Wait. I said. But hang on that's my customer number! The one I log in to internet banking with. Why are you putting that on a letter and asking me to put it in an email? Nope and nope!

I did try and communicate via secure messaging but to no avail. I told them a good time to call. They didn't. I could not phone them as I have no land line. I heard nothing till the form got sent asking for all manner of personal data to be sent by post. They eventually put restrictions on my account in an attempt to force my hand. I raised a complaint saying that this severely compromised my security and would put me at risk of identity theft so no I would not do it. Eventually I escalated it to the ombudsman but sadly they do not seem to comprehend the nature and magnitude of the problem and failed to properly focus on the key issues instead just parroting back HSBC's own words of 'it's part of safeguarding process' as though that means something. So the complaint has been turned down.

I am downloading a form to close my accounts with them. Fortunately I have accounts with nationwide already. The restrictions never affected me since I never drew cash out only moved money online. I've only been with HSBC 8 years but the last couple have been awful. Can't wait to be done with.

There is certainly nothing safe about safeguarding. And nothing logical in the way they go about it. But only a combined voice will make anyone take notice.

maninthestreet

wendyjw wrote: »

It's a ridiculous nonsense. I received my first safeguarding letter and then phone call just after I moved to New Zealand. I literally had only just left the UK and updated my details else they wouldn't have had my phone number. After confirming all my details were unchanged they wanted to know about employment and income and when I told them I had only just arrived in nz 2 weeks earlier from the UK so had no employment or income nor did I know when I would they wouldn't have it and insisted I give them info I didn't have. They then failed to record the information I did confirm. Over the following weeks I received a barrage of early morning phone calls that woke me at 5-6am prompting me to install a do not disturb function on my phone to prevent any further early wake ups. Clearly HSBC are incapable of working out time difference.

Then I received lots of letters about safe guarding. These were a bust because they requested I email an address that didn't work lol! Only after FB enquires did the correct one come to light so I emailed with the ref number to be told- the ref number from the letter was not the ref number they wanted. They wanted the other number at the bottom of the letter.

Wait. I said. But hang on that's my customer number! The one I log in to internet banking with. Why are you putting that on a letter and asking me to put it in an email? Nope and nope!

I did try and communicate via secure messaging but to no avail. I told them a good time to call. They didn't. I could not phone them as I have no land line. I heard nothing till the form got sent asking for all manner of personal data to be sent by post. They eventually put restrictions on my account in an attempt to force my hand. I raised a complaint saying that this severely compromised my security and would put me at risk of identity theft so no I would not do it. Eventually I escalated it to the ombudsman but sadly they do not seem to comprehend the nature and magnitude of the problem and failed to properly focus on the key issues instead just parroting back HSBC's own words of 'it's part of safeguarding process' as though that means something. So the complaint has been turned down.

I am downloading a form to close my accounts with them. Fortunately I have accounts with nationwide already. The restrictions never affected me since I never drew cash out only moved money online. I've only been with HSBC 8 years but the last couple have been awful. Can't wait to be done with.

There is certainly nothing safe about safeguarding. And nothing logical in the way they go about it. But only a combined voice will make anyone take notice.

How are HSBC in the UK somehow responsible for you not having a land line in NZ??
If you've emigrated to NZ, shouldn't you move your bank account(s) to a NZ bank?

meer53

wendyjw wrote: »

It's a ridiculous nonsense. I received my first safeguarding letter and then phone call just after I moved to New Zealand. I literally had only just left the UK and updated my details else they wouldn't have had my phone number. After confirming all my details were unchanged they wanted to know about employment and income and when I told them I had only just arrived in nz 2 weeks earlier from the UK so had no employment or income nor did I know when I would they wouldn't have it and insisted I give them info I didn't have. They then failed to record the information I did confirm. Over the following weeks I received a barrage of early morning phone calls that woke me at 5-6am prompting me to install a do not disturb function on my phone to prevent any further early wake ups. Clearly HSBC are incapable of working out time difference.

Then I received lots of letters about safe guarding. These were a bust because they requested I email an address that didn't work lol! Only after FB enquires did the correct one come to light so I emailed with the ref number to be told- the ref number from the letter was not the ref number they wanted. They wanted the other number at the bottom of the letter.

Wait. I said. But hang on that's my customer number! The one I log in to internet banking with. Why are you putting that on a letter and asking me to put it in an email? Nope and nope!

I did try and communicate via secure messaging but to no avail. I told them a good time to call. They didn't. I could not phone them as I have no land line. I heard nothing till the form got sent asking for all manner of personal data to be sent by post. They eventually put restrictions on my account in an attempt to force my hand. I raised a complaint saying that this severely compromised my security and would put me at risk of identity theft so no I would not do it. Eventually I escalated it to the ombudsman but sadly they do not seem to comprehend the nature and magnitude of the problem and failed to properly focus on the key issues instead just parroting back HSBC's own words of 'it's part of safeguarding process' as though that means something. So the complaint has been turned down.

I am downloading a form to close my accounts with them. Fortunately I have accounts with nationwide already. The restrictions never affected me since I never drew cash out only moved money online. I've only been with HSBC 8 years but the last couple have been awful. Can't wait to be done with.

There is certainly nothing safe about safeguarding. And nothing logical in the way they go about it. But only a combined voice will make anyone take notice.

HSBC gave you the option for providing your information so you could carry on banking with them, you declined to use this option. Your choice. This is how the FOS would see it too.

badmemory

Safeguarding is not about safeguarding you but about safeguarding HSBC from more of the mammoth fines they have had to pay. This is why they tend to go a little over the top.

familytr33

Account is still frozen.

Spent another 20 minutes on the phone yesterday from USA to UK trying to get through to HSBC SafeGuard.

The call-center person finally told me to leave a message and they would call back. They called today, I missed them and had to call back. Got into another another 20 minute international call at my expense.

So, today they went through the questions with me verbally... AGAIN. That is the 4th *****g time I have answered their (&^@#g questions.

They assured me my docs have been submitted successfully. You might remember that despite SafeGuard confirming successfully electronic receipt in early Feb,I had to send the docs by mail last month (and get them certified by a US bank or lawyer on the legal500.com site).

They said my account should be fine now and there are no restrictions.


DESPITE ALL THIS>>> I still cannot make a wire. I still get error Ref [19543].


The online support-typing-box person said the SafeGuard freeze is still in place and I should try again tomorrow.

I am now into week 15 of this crap. SO MUCH of my time wasted, so much energy that could have gone elsewhere, plus some investment opportunities missed forever.

ft.

familytr33

Well, another day and I still can't make a wire from on-line banking.

And so, another 1 hr 20 mins (international US to UK) on the phone with HSBC today at my expense.

They did make a phone-assisted transfer from my HSBC account to my US account today. They tried first with their main system but got error 19543 (Safeguard error, same as me). They had to use some kind of legacy wire system to get it through but they say it worked (up to 4 days to find out).

Safeguard yesterday confirmed (again) everything is clear.

The phone banking people today say they spoke with SafeGuard today (while I was on hold) and confirmed everything is clear on my account. There are no restrictions on my account.

No-one can explain why I can't use on-line banking to make a wire.

I spoke with a supervisor today (again). Unable to help, he noticed I had started a complaint procedure back at beginning of March and said the only thing I can do is to let it run. It can take up to 8 weeks for a complaint to go gradle-to-grave so I have a couple weeks to go.

ft.

familytr33

My UK HSBC account is finally unlocked after 5 months.

HSBC have said said mea culpa and paid a moderate compensation. The moderate compensation I have been paid by HSBC comes nowhere near my actual financial loss.

Apparently I was caught up in 2 different SafeGuard programs. I had successfully submitted all SafeGuard docs within the required timeframes for both programs.

Screw-ups in their internal systems kept my account frozen and on-line banking folks, the call center folks and even higher-ups in the SafeGuard dept could not see a reason why my account was frozen the many times I contacted them.

It was only when the official complaint person got involved (just under 8 weeks after the complaint was started) that the problem was resolved.

In calculating compensation, HSBC say their systems apparently do not have log records from online banking showing I tried to make wires that were denied by them. They will not offer any higher compensation despite the fact I tried to make at least a dozen wires that were declined with error Ref [19543].

Since the moderate compensation comes nowhere near my actual financial loss I will be contacting the ombudsman. Anybody got any advice on this process relating to this problem?

Thanks,

ft.



PS. Some advice for anyone else who receives error Ref [19543] when making a wire from HSBC:

Start the official complaint process right away.

After the complaint is submitted call phone banking and try to make a transfer via phone.

The rep will first try to make the transfer using the same online interface you use. It will fail with error Ref [19543] .

The rep will then default back to try to use a legacy wire system. The wire will not fail immediately(like online banking) - it has up to 4 days to fail. But when it fails I believe a red is raised internally at HSBC which may speed up your complaint timeline.

Cash_Cow

I suspect I'm getting off fairly lightly as we did the personal ID stuff in person and before they closed the branch... But I am NOT giving them my mobile number - I might if it said 'we will never use this for marketing spam or to send you questionnaires on us or any other unwanted hassle and we will not share it with anyone'. Anyway I'm looking at a new account that has accounts software integrated within it for a similar monthly fee to HSBC.

Their dinosaur strongarm customer unfriendly days may be numbered! I look forward to David sacking Goliath

familytr33

From my previous posts... earlier in 2018 I was unable to transfer funds out of my account for 5 months due to the SafeGuard Department's failure to process my documentation - submitted multiple times - correctly.

After 5 months I was awarded compensation by HSBC, and I was able to transfer funds from an account I hold individually.

A couple of weeks ago I tried to make a transfer out of the joint account my wife and I hold. All appeared to progress correctly; no error 19543 on HSBC website, no notification of a problem from HSBC at the time of placing the transfer or subsequently.

But... after 8 days the funds had not shown up with the payee.

Theer were no pending payements shown in online banking. So, thinking I had made an error, I made another attempt with the exact same result. Funds had not transferred after a week.

On contacting HSBC no-one could see any problems with the account or the transfers.

From previous experience of a complaint taking 58 days to resolve I immediately opened a complaint.

Finally found someone who could tell me that transfers out of the account are on hold because of a SafeGuard issue with my wife.

My wife submitted all the SafeGuard docs at the same time I did. She was not told of any problem at the time. It seems she is in the same SafeGuard black hole that I was in

So, AGAIN, we again cannot transfer funds from our joint account, and I am currently trying from my individual account again. I need it to work!

ft.