*Resolved-Account unblocked* HSBC Personal Account "Under Investigation" - Account Blocked Entirely

gghostinthecamera

As an update, I tweeted their account and they replied with the following:

Doubt it will make any difference - perhaps he can clarify the timescale

Chino

D3xt3r5L4b said:

Stealing money? Lol
I would take such stories posted on here with a wide berth. 

Depriving someone of the use of their assets is theft.

John_

Wheres_My_Cashback said:

Shakin_Steve said:

If you look down just the first page of the budgeting and bank accounts page, you will see another 3 or 4 similar stories. 

Yep, plenty of stories highlighting the banking industry and it's utterly despicable practices of freezing accounts and stealing customers money, particularly from vulnerable customers who need added protection. Shameful really !

This is just silly. Banks don’t get to keep any money in suspended accounts, and they have been fined billions of pounds in recent years for failing to act quickly enough in cases of suspicious activity, which unfortunately the OP’s activity is. It looks very like the layering phase of money laundering, so the bank has a legal obligation to freeze the account and investigate.

What do you think that they have actually done wrong here?

John_

Chino said:

D3xt3r5L4b said:

Stealing money? Lol
I would take such stories posted on here with a wide berth. 

Depriving someone of the use of their assets is theft.

Let me guess, you don’t actually work as a lawyer, but like to pretend that you know the law?

Theft is taking goods with the intention to permanently deprive the owner of them. A bank account being frozen is not theft. If anything, it’s done to prevent theft.

gghostinthecamera

John_ said:

Wheres_My_Cashback said:

Shakin_Steve said:

If you look down just the first page of the budgeting and bank accounts page, you will see another 3 or 4 similar stories. 

Yep, plenty of stories highlighting the banking industry and it's utterly despicable practices of freezing accounts and stealing customers money, particularly from vulnerable customers who need added protection. Shameful really !

This is just silly. Banks don’t get to keep any money in suspended accounts, and they have been fined billions of pounds in recent years for failing to act quickly enough in cases of suspicious activity, which unfortunately the OP’s activity is. It looks very like the layering phase of money laundering, so the bank has a legal obligation to freeze the account and investigate.

What do you think that they have actually done wrong here?

Err I was just trying to buy a piano man. Not laundering anything

D3xt3r5L4b

gghostinthecamera said:

As an update, I tweeted their account and they replied with the following:

Doubt it will make any difference - perhaps he can clarify the timescale

These “social media” teams just act as “call takers/ticket loggers”.

D3xt3r5L4b

Chino said:

D3xt3r5L4b said:

Stealing money? Lol
I would take such stories posted on here with a wide berth. 

Depriving someone of the use of their assets is theft.

Whilst a fraud investigation is taking place it’s a perfectly plausible thing to do. 

John_

gghostinthecamera said:

John_ said:

Wheres_My_Cashback said:

Shakin_Steve said:

If you look down just the first page of the budgeting and bank accounts page, you will see another 3 or 4 similar stories. 

Yep, plenty of stories highlighting the banking industry and it's utterly despicable practices of freezing accounts and stealing customers money, particularly from vulnerable customers who need added protection. Shameful really !

This is just silly. Banks don’t get to keep any money in suspended accounts, and they have been fined billions of pounds in recent years for failing to act quickly enough in cases of suspicious activity, which unfortunately the OP’s activity is. It looks very like the layering phase of money laundering, so the bank has a legal obligation to freeze the account and investigate.

What do you think that they have actually done wrong here?

Err I was just trying to buy a piano man. Not laundering anything

Yes, understood, but your actions look exactly like the middle phase of laundering, and the bank is probably investigating because of this. Layering is passing money between accounts and companies to obscure the source of funds, and unfortunately this is also what you have done, passed a significant amount back and forth.

You just need to wait for the investigation to be concluded, and answer any questions they have along the way.

soulsaver

BTW when you look for another back up bank avoid the RBS group - you think 10 -14 days is bad? 28- 60 is their notified time and of the posts I've seen, they initiate it maliciously and  take most of the time stated.

gghostinthecamera

soulsaver said:

BTW when you look for another back up bank avoid the RBS group - you think 10 -14 days is bad? 28- 60 is their notified time and of the posts I've seen, they initiate it maliciously and  take most of the time stated.

Oof yeah I'm avoiding the mainstream banks. I'm a regulatory consultant in the financial sector and I've advised at all of them. Hell, I was advising at HSBC for nearly a year last year. 

I've gone with Starling Bank, simple and straightforward for the moment. Thankfully, I have time to divert my salary into the new account. 

Can you make transfers into a frozen account, or only deposits at a branch?