HSBC account closure

sheramber

As is common the vital bit of information is not given until after several pages.

born_again

Ezii said:

Monzo didn't even ask for any proof when submitting the complaint however they mentioned any proof will help, but didn't even specify what they require which is really odd, how am I supposed to give evidence for something that I'm not even sure about what I'm supposed to give, although I did ask them if they need anything they could email/contact me. 

Is it worth getting a solicitor or lawyer on this, because dealing with this is really stressful.

That is up to you to provide what you feel is relevant to your case. 


Solicitor is a waste of time. As it will cost you, delay everything & create even more stress, as you have a extra party involved.

>>I'm not doing anything within regards to crypto EVER. <<

 >> have used monzo to receive funds for the Bitcoin I've sold <<

Last time I looked Bit Coin is a Crypto currency.

Funds in & if no payments going out to the same company just screams somethin banks do not like.

I'm curious as to how you applied to get a answer to a SAR in less than 2 days?

Ezii

For those who have started bashing on the fact I'm using monzo for business isn't the issue, I haven't used monzo for business purposes at all neither have I used hsbc for business, I was simply asking if I was to have ebay deposits into for reselling on credit union account.  

Ezii

Shakin_Steve said:

So, in summary, you've been using your Monzo personal account for what they see as business purposes. Consequently, they reported you to CIFAS for 'misuse of facility'. The CIFAS marker has come to the attention of HSBC, who have closed your personal account.
I'm sure we could have got here much more quickly.

Incorrect. I'm not even sure at this point you guys are reading this properly but just coming to assumptions 

Ezii

born_again said:

Ezii said:

Monzo didn't even ask for any proof when submitting the complaint however they mentioned any proof will help, but didn't even specify what they require which is really odd, how am I supposed to give evidence for something that I'm not even sure about what I'm supposed to give, although I did ask them if they need anything they could email/contact me. 

Is it worth getting a solicitor or lawyer on this, because dealing with this is really stressful.

That is up to you to provide what you feel is relevant to your case. 


Solicitor is a waste of time. As it will cost you, delay everything & create even more stress, as you have a extra party involved.

>>I'm not doing anything within regards to crypto EVER. <<

 >> have used monzo to receive funds for the Bitcoin I've sold <<

Last time I looked Bit Coin is a Crypto currency.

Funds in & if no payments going out to the same company just screams somethin banks do not like.

I'm curious as to how you applied to get a answer to a SAR in less than 2 days?

I mean in the past context I'll never be dealing with crypto again. 

Shakin_Steve

Ezii said:

Shakin_Steve said:

So, in summary, you've been using your Monzo personal account for what they see as business purposes. Consequently, they reported you to CIFAS for 'misuse of facility'. The CIFAS marker has come to the attention of HSBC, who have closed your personal account.
I'm sure we could have got here much more quickly.

Incorrect. I'm not even sure at this point you guys are reading this properly but just coming to assumptions 

Your account of events is all over the place, omitting information until replying to posts that ask you specifically. If you'd given all of the facts in your first post then, as I said earlier, we'd have got here a lot more quickly.
I've got a feeling you know exactly why your account was closed.

Section62

Ezii said:

For those who have started bashing on the fact I'm using monzo for business isn't the issue, I haven't used monzo for business purposes at all neither have I used hsbc for business, I was simply asking if I was to have ebay deposits into for reselling on credit union account.  

Ok,  in which case, knowing you are at risk of having further accounts closed, the last thing you should think about doing is having money from your eBay business paid into any of your personal accounts.  This would be a further 'misuse' of facility, and also runs the potential risk of whichever financial institution you are using coming to the conclusion your activities are not 100% legit.

Treat the CIFAS marker and HSBC closure as two strikes and a warning that banks don't like dealing with customers who do 'funny' stuff.  Don't push your luck, and hope nothing happens to your other accounts.

Ezii

Shakin_Steve said:

Ezii said:

Shakin_Steve said:

So, in summary, you've been using your Monzo personal account for what they see as business purposes. Consequently, they reported you to CIFAS for 'misuse of facility'. The CIFAS marker has come to the attention of HSBC, who have closed your personal account.
I'm sure we could have got here much more quickly.

Incorrect. I'm not even sure at this point you guys are reading this properly but just coming to assumptions 

Your account of events is all over the place, omitting information until replying to posts that ask you specifically. If you'd given all of the facts in your first post then, as I said earlier, we'd have got here a lot more quickly.
I've got a feeling you know exactly why your account was closed.

If I knew then I would have never made the thread... 

Ezii

Section62 said:

Ezii said:

For those who have started bashing on the fact I'm using monzo for business isn't the issue, I haven't used monzo for business purposes at all neither have I used hsbc for business, I was simply asking if I was to have ebay deposits into for reselling on credit union account.  

Ok,  in which case, knowing you are at risk of having further accounts closed, the last thing you should think about doing is having money from your eBay business paid into any of your personal accounts.  This would be a further 'misuse' of facility, and also runs the potential risk of whichever financial institution you are using coming to the conclusion your activities are not 100% legit.

Treat the CIFAS marker and HSBC closure as two strikes and a warning that banks don't like dealing with customers who do 'funny' stuff.  Don't push your luck, and hope nothing happens to your other accounts.

Hence why I was just asking, just to be sure and safe and wouldn't want to risk any of my accounts further. Literally, the only reason why I mentioned if it were ok to use it with the credit union account.

AstonSmith

If it turns out that a CIFAS "misuse of facility" marker was added for using a personal account for business purposes (and I stress "if")... how is that fair?

I understand that the terms were broken, and the bank involved has every right to terminate the account, but the CIFAS marker system was intended for serious fraud. Using a personal account for minor, sole-trading business is not serious fraud.