HSBC Bank account has been frozen

Fergus10

On Mon 23rd Dec I tried to transfer money to pay a bill via my HSBC UK banking app but it wouldn’t let me do this as these options were ‘faded out’. I then logged into their main online banking site & it said my account didn’t exist! I rang their Telephone Banking & after a 40 minute call & speaking to the Call Centre Manager I was just repeatedly told that there’s a message on their system saying ‘We are unable to process any transactions or requests as the bank is currently complying with its UK Statutory requirements and the bank will be in touch in due course’. I was also told that the ‘Back Office’ was dealing with this ‘investigation’ but they couldn’t tell me what they were investigating.

The next morning (Christmas Eve) I visited my local branch of HSBC & was there for about an hour. I was told the same thing & that one of the staff members had worked for the bank for 40 years & had never seen a message like this on the system. I put in a complaint but was told that it was likely that there would be no real outcome to my complaint as they could take over anyone’s bank account at any time without giving an explanation. I asked if I’d be compensated for unpaid bill charges etc & was hold “hopefully”. I asked if they were going to leave me with no money for Xmas & was repeatedly told that no transactions could take place.

Since this time I’ve rang their telephone banking on another 2 occasions as I’m yet to receive the written correspondence I was promised during my original communications with HSBC. I’ve been told after 7 working days (so that’s tomorrow) I can ring HSBC again & I “might” be able to speak to somebody in the Back Office but they couldn’t guarantee this. I’ve also requested access to my records & was told that this can’t happen whilst this investigation is going on.

I plan to visit the branch again in the morning but due to how I’ve been treated & disrespected so far I’m not holding out much hope that I’ll be told anything. I also checked my banking app today & saw that although repayments for my mortgage, rent & a personal loan haven’t been paid, that on Mon 30th Dec they withdraw a £5 pre-notified overdraft fee for themselves!!!

This whole situation has been extremely stressful, worrying & upsetting for me. I thought if I rang the Financial Ombudsman today they could give me some advice but after I went through the full story with them I was told that once the investigation is completed I can submit a complaint to them if I want to but at the present time they can’t help me and suggested I ring the Citizens Advice Bureau. Both friends, family & I have searched the internet for ideas of why HSBC would be doing this but without being given any actual specific information from HSBC it’s more or less impossible to know what’s actually going on. Has this happened to anybody else? I’ll be very grateful for any advice or ideas about this?

[Deleted User]

A. Paragraphs and sentences.

B. You need to wait for them to complete their investigations before they will divulge any information to you.

Fergus10

I understand that that’s probably going to be the case but how can they be allowed to just do this to somebody & leave them with no money & unpaid bills. I’m nearly 46 & have banked right then since I was 21. I haven’t a clue why they might have done this to my account & its causing so many problems for me.

Fergus10

Re. Comment about paragraphs & sentences. I typed this on a notes app on my phone & including the information in paragraphs & sentences didn’t enter my head. I’m under a great deal of pressure & stress & merely wanted advice about my bank account!

[Deleted User]

They have every right to do it if they feel something “untoward” or “suspicious” is occurring.

As already advised, the only people that can answer the how and why is HSBC upon completion of their investigations

Jonathan_Kelvin

Fergus10 wrote: »

I understand that that’s probably going to be the case but how can they be allowed to just do this to somebody & leave them with no money & unpaid bills. I’m nearly 46 & have banked right then since I was 21. I haven’t a clue why they might have done this to my account & its causing so many problems for me.

If they suspect you of certain financial crimes then not only are they obliged to suspend your account but it would also be a crime for them to tell you why you have done it.

HSBC were fined billions of pounds not so long ago for not being as diligent as they ought to have been in this area, so are cautious now.

Have you been doing anything unusual in your account, such as transferring large amounts in and out, or accepting payments from others which you then withdraw to give them in cash?

Are you using it for business use, or have you been selling on eBay via it, and had any disputes raised?

18cc

If you do get any further information come back and let us know it might help others in the same situation as you

Robin9

Furgus10 - HSBC will take as long as they see fit - days, weeks ………. In the meantime they won't tell you anything.

There is something that has trigged their systems - someone you paid or received from that's "dodgy", bitcoin, foreign transactions, business.....

Have you another bank account to get your salary paid into ?

penners324

Your best option is to open a bank account with a different bank (Starling or Monzo are quick and straightforward).
Get some money into it and to pay your Bill's from there.

Do this today.

Your HSBC account has been frozen for suspected fraud. It wont get unlocked for weeks if ever.

Thrugelmir

Fergus10 wrote: »

No I haven’t been doing anything like that with my bank account. I heard about HSBC being over-vigilant checking bank accounts these days but in a million years I’ve no idea why they’re checking mine.

What activity could have triggered their systems? Things happen for a reason. Normal personal banking activity is very straightforward. Wages in, payments and transfers out.

Fergus10

I visited a branch of HSBC this morning, spoke to a different member of staff this time & the branch manager. Although I’d been told previously by Telephone Banking staff that I’d be able to speak to the Back Office on the 7th working day this didn’t happened and instead staff in the branch spoke to them & they said they’d posted another letter out dated 30.12.19. I told them I’m yet to receive the letter I’d been told had been posted out on 23.12.19. They gave me a copy of the letter dated 30.12.19 (including info saying ‘we will not enter into any further communicate into the reason we have taken this action’ & ‘I’m unable to provide a timescale’).

I was told in the branch that although no money can be withdrawn from my account, money could be paid into my account but not withdrawn. I laughed at this. The branch manager told me that if I’m not at fault in this investigation then they’ll refund me any charges for unpaid bills & will amend my credit score. But if not they don’t need to do anything. They suggested I open another bank account & I told them I planned to do this. Anyway, I’ve since opened a new bank account & I’ve since started contacting others who I pay regularly to provide them with new bank details.

At the branch I repeatedly quoted this to them, funnily enough they had no response - "One of the key commitments of the Banking Code, to which HSBC subscribes, states: "We will deal quickly and sympathetically with things that go wrong and consider all cases of financial difficulty sympathetically and sensitively."

As soon as HSBC investigation is finished I’m requesting that my account is closed & my money is transferred into my new bank account, as well as any non-payment fines be refunded & my credit score is altered. I’ll also be putting a complaint in with the financial ombudsman.