HSBC Closed account!

fun4everyone

Do a subject access request and specify you want to see everything regarding your account closure in particular.

GingerFurball_2

GingerBob wrote: »

OP, you might like to take up this matter with your MP. Evidence on this board and elsewhere suggests that bank account closure of the type you describe is becoming a significant problem across the country. It seems HSBC are the worst offenders here.


In my view a bank account should now be regarded as one of life's essentials, in the same way that water and energy are (the suppliers of which cannot suddenly decide they no longer wish to do business with you). The issue needs raising with our legislators, so if you have the time and inclination to do so, I would urge you to contact your MP about it.

Yeah good luck forcing a company to conduct business with someone.

SuperHan

They're sketchy on money laundering, so the regular payments to Thailand might mean they just deem you too high risk.


Or you're not profitable for them.


Or every week they randomly select an account and close it, and one week it was yours.


Would knowing any of the above make you happier?

GingerFurball_2

diamonds wrote: »

Given the 2 months notice and informing you of such was not adhered to you can ask the bank to explain the reasons for the immediate closure, you cant hide behind Data Protection when you have breached your own contract

Except it was adhered to.

diamonds

GingerFurball wrote: »

Except it was adhered to.

What was adhered ?


Customer had no notice...text, post, email, phone call.

AnotherJoe

According to a BBC Radio program I heard a few months back, if the bank suspect you of money laundering, legally they aren't even allowed to tell you why they've closed it.

I would write to your MP in the hope that over time this Kafaka-esque situation can rectified but you aren't going to be getting an answer from the bank.

Ballard

AnotherJoe wrote: »

According to a BBC Radio program I heard a few months back, if the bank suspect you of money laundering, legally they aren't even allowed to tell you why they've closed it.

I would write to your MP in the hope that over time this Kafaka-esque situation can rectified but you aren't going to be getting an answer from the bank.

That would probably come under the 'tipping off' section of the AML legislation.

GingerBob_3

GingerFurball wrote: »

Yeah good luck forcing a company to conduct business with someone.

The government seems to manage it with utility providers, so why not banks? All banks should be under a legal obligation to provide a basic banking service to anyone who requires it.

System

It won't affect credit ratings as it will simply be closed (settled) on your credit report - with no reference to who closed it.

I would complain about the lack of notice but look for another provider ASAP excluding HSBC, First Direct or M&S Bank.

Thrugelmir

underwurlde wrote: »

Regular payments to Thailand (ongoing for as long as the account was opened).

Thailand has a reputation as being a cross roads for illegal activity.

Doesn't sound as if the account is your main one either.

Only use this account to buy food, shopping, rarely over-drawn and if so immediately topped up. Some overseas transactions, about 3-4 in total.

Though your story doesn't stack up with regards to overseas activity.

On a commercial basis your account isn't worth keeping open. Given the costs of compliance these days.