HSBC Safeguard closed my account

rlucas16

HSBC closed my account! I had made a number of attempts to try to fill in their safeguard forms sitting on hold for hours trying to find out what information was missing from the form and going into my local branch. 

Anyway my issue isn’t that my real concern is how do I get the money out of my closed hsbc business account my cards are blocked and I’m not able to transfers funds from the account. I’m currently having to use money from my personal account to pay for my business but eventually funds will run out ! Hsbc even have the cheek to charge me for use if the account still which I’m not able to use ! 

pbartlett

sue them ? start a moneyclaim online - see if it has any effect

rlucas16

Unfortunately that won’t make any difference they have provided an awful service but not broken the law I fear a court would find in their favour. I just want my money which I have worked hard for out of the bank account I can no longer use 

pbartlett

no one is saying they have broken the law - you can sue someone for debt without them having broken the law

eskbanker

There's nothing you'll be able to do to force the issue, assuming that HSBC are investigating something they reasonably deem to be suspicious, so, if that investigation concludes that all is OK, your funds should be released to you at that stage.  They won't be able to give timescales though, however frustrating that may be....

Thrugelmir

rlucas16 said:

Unfortunately that won’t make any difference they have provided an awful service but not broken the law I fear a court would find in their favour. I just want my money which I have worked hard for out of the bank account I can no longer use 

Onus is on you to provide adequate documentation. Failure to do so will result in suspension of services. Those are the contract terms you agreed to when you opened your accounts. With the pressure on the banks to be the front line defence against money laundering. There's no shades of grey.  

rlucas16

pbartlett said:

no one is saying they have broken the law - you can sue someone for debt without them having broken the law

I am aware of this I’m (a lawyer) they’re clearly acting within the agreement I signed when I set up the account furthermore I don’t want the hassle of trying to sue a global bank like hsbc. All I want is the money out of my account and I’m asking some guidance on how this will happen. 

rlucas16

Thrugelmir said:

rlucas16 said:

Unfortunately that won’t make any difference they have provided an awful service but not broken the law I fear a court would find in their favour. I just want my money which I have worked hard for out of the bank account I can no longer use 

Onus is on you to provide adequate documentation. Failure to do so will result in suspension of services. Those are the contract terms you agreed to when you opened your accounts. With the pressure on the banks to be the front line defence against money laundering. There's no shades of grey.  

I find it outrageous that I have to prove I’m innocent. The burden of proof should fall on them the majority of the questions related to overseas transactions my company only has transactions from two law firms within the U.K. no one else. Since they’ve said they’re closing the account I’ve not been asked for any documentation nor have they written to me to tell me it was being closed, or what will happen with the substantial balance I have left sitting in this account. 

Eyeful

How much money are you taking about?

It does seem strange for a lawyer to ask for "some guidance" on what appears to be the law. What branch of law do you practice in?

If they have stopped you from using the account, on what grounds in the terms and conditions are they able to still charge you for the account?

rlucas16

Eyeful said:

How much money are you taking about?

It does seem strange for a lawyer to ask for "some guidance" on what appears to be the law. What branch of law do you practice in?

If they have stopped you from using the account, on what grounds in the terms and conditions are they able to still charge you for the account?

Oh really does it well I suppose the less knowledgable amongst us don’t realise that a lawyer who is a criminal defence lawyer is not a expert on financial finance or corporation law. The sim of money I’m talking about I don’t wish to discuss on here as it’s not relevant i just wanted to know whether anyone on here have dealt with hsbc and this safeguard issue before 

DCFC79

What is it you want from posting on here ?

If you want professional help then you need to pay for it.