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Closing hsbc account while still having loan with them?

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Bmwm3gt2
Bmwm3gt2 Posts: 276 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Small biz MoneySaving
Hi, I am thinking of closing my hsbc business account and going with starling bank to save the fees but will I be able to do so as I have a business loan with hsbc? Thanks

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  • martindow
    martindow Posts: 10,566 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Presumably the paperwork for your loan specifies the terms and conditions and whether it stands alone or is dependant on having a current account. Have you asked HSBC?


    If they are linked maybe you could get a similar loan from your new bank to pay off the loan and close the current account.


    If there is no option of closing it could you save some of fees if you left the HSBC account open with a minimal balance and stopped using it for everyday transactions which would go through through the new account?
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