HSBC Account Suspended - Review in Progress?

robatwork

Resign yourself to the fact you'll never know the reason.

The only people who know are HSBC, and even among their staff only a select few will actually have access to that information. They won't come into a forum and put their job (and possibly liberty) at risk by finding out and telling you.

Take the money, open a new account, note to never use them again. Check with CIFAS, National Hunter and all the free credit reference agencies that they don't hold any incorrect information on your file.

SChitmehard

HSBC are pretty poor  in customer service and everything generally.

My local branch has got rid of their counters, and just has those stupid machines to pay in and take money out -not very helpful when I found a few old £20 notes. The CSA in branch are pretty useless and they tell you to use phone/ online service when you go into branch so I don't even know what is the point of the branch at all.

They have also been done for knowingly money laundering for Mexican drug cartels and HSBC is one of the most highly leveraged banks so best not to keep too much in there if you have an  account

grumbler

SChitmehard said:

They have also been done for knowingly money laundering for Mexican drug cartels and HSBC is one of the most highly leveraged banks so best not to keep too much in there if you have an  account

Once burned by milk you will blow on cold water. That's why they are now extremely paranoid.

By too much you mean more than £85K, don't you?

SChitmehard

grumbler said:

SChitmehard said:

They have also been done for knowingly money laundering for Mexican drug cartels and HSBC is one of the most highly leveraged banks so best not to keep too much in there if you have an  account

Once burned by milk you will blow on cold water. That's why they are now extremely paranoid.

By too much you mean more than £85K, don't you?

Just hope there is no bail-in if you hold 85k! Like I said HSBC and Barclays are highly leveraged and best to not have a large deposit in these banks.

born_again

SChitmehard said:

grumbler said:

SChitmehard said:

They have also been done for knowingly money laundering for Mexican drug cartels and HSBC is one of the most highly leveraged banks so best not to keep too much in there if you have an  account

Once burned by milk you will blow on cold water. That's why they are now extremely paranoid.

By too much you mean more than £85K, don't you?

Just hope there is no bail-in if you hold 85k! Like I said HSBC and Barclays are highly leveraged and best to not have a large deposit in these banks.

But still well within what the FCA set & expects UK banks to hold to ensure safety.

SChitmehard

born_again said:

SChitmehard said:

grumbler said:

SChitmehard said:

They have also been done for knowingly money laundering for Mexican drug cartels and HSBC is one of the most highly leveraged banks so best not to keep too much in there if you have an  account

Once burned by milk you will blow on cold water. That's why they are now extremely paranoid.

By too much you mean more than £85K, don't you?

Just hope there is no bail-in if you hold 85k! Like I said HSBC and Barclays are highly leveraged and best to not have a large deposit in these banks.

But still well within what the FCA set & expects UK banks to hold to ensure safety.

That's what the Cyprus depositors thought too.When the S hits the fan, all bets are off.

Daliah

SChitmehard said:

born_again said:

SChitmehard said:

grumbler said:

SChitmehard said:

They have also been done for knowingly money laundering for Mexican drug cartels and HSBC is one of the most highly leveraged banks so best not to keep too much in there if you have an  account

Once burned by milk you will blow on cold water. That's why they are now extremely paranoid.

By too much you mean more than £85K, don't you?

Just hope there is no bail-in if you hold 85k! Like I said HSBC and Barclays are highly leveraged and best to not have a large deposit in these banks.

But still well within what the FCA set & expects UK banks to hold to ensure safety.

That's what the Cyprus depositors thought too.When the S hits the fan, all bets are off.

The Cyprus depositors threw all warnings about the €100k limit to the wind. Then were surprised that they couldn't get more than €100k of their money.

In the UK, we are being told ad nauseam about the £85k limit. So anyone who chooses to ignore it shouldn't be surprised if they don't get more than £85k if an institution folds. Mind you, most people in the UK only dream of having £85k in savings or investments.

born_again

SChitmehard said:

That's what the Cyprus depositors thought too.When the S hits the fan, all bets are off.

If you understood the FSCS, you would know that the £85K limit is not from the Banks. You may get more than the limit, if funds are left.

 You don’t need to do anything – FSCS will compensate you automatically.

https://www.fscs.org.uk/what-we-cover/

queeniechan2004

themadhouse said:

I have a HSBC account. My card was declined whilst out. I was locked out of the banking app. Suspected security stop after a high value purchase called HSBC. After a 40 minute call the agent had to call me back, which they did an hour later.

I am having a review in branch on Monday, they require a bunch of things (see below) I guess they are getting to "know their customer" to see if they are willing to provide service.

Does anyone have any indication as to what they are looking for, or has experienced this before?

• Record of financial incomings and outgoings (bank and credit card statements)
• Copies of bank statements outside of HSBC (within the last 4 months) / credit cards (most recent)
• Details of financial commitments held elsewhere for example loans / store card and credit card

TIA 

My HSBC app was suspended today and I transferred a high amount money to another online bank, and when I tried to call, they off already, I will call tomorrow morning at 8, they are so trouble to holding my money like this, I am not sure what they want from me.

gt94sss2

SChitmehard said:

HSBC is one of the most highly leveraged banks so best not to keep too much in there if you have an  account

HSBC is not one of the'most highly leveraged banks'.

In fact they tend to hold more deposits than they issue loans - meaning they survived things like the 2008 financial crisis and Covid with much less difficulty than other financial institutions.