HSBC Student Account

My daughter  has had her student bank account frozen due to suspected fraudulent activity. Despite spending many hours on the phone, and 2 visits to her local branch in Nottingham, she has been unable to ascertain why this has happened or how to rectify the situation. She is at her wits end, and is very distressed. She is living away from home for the first time. She now has no access to her money, and I am having to send more money for her to live on. This is becoming unsustainable, and she is desperate to sort this out. I feel helpless to help her from Bristol. Please help. 

Background Information: 

Our daughter is in her first year of a 3 year Fashion, Marketing and Branding degree at Nottingham Trent University. 

She was a little late opening her bank account, but after much deliberation she chose HSBC as her student account and opened her account on the 16th September 2022. 

The first instalment of her student halls rent was due on 2nd October 2022 and I transferred £3,500 into her HSBC account on 1st October 2022.. 

Almost immediately she realised that the rent payment was going to be collected from her existing Monzo bank account, not her new HSBC account. Despite her best efforts she was unable to change the bank details she had initially given the student accommodation team before the first payment would be processed. As a result she transferred £3000 from her HSBC account into the Monzo account to cover the payment. This has apparently caused a red flag with HSBC, and has resulted in her account being frozen. I subsequently transferred the money required into her Monzo account to cover her rent, but she currently doesn't have any money to live on, and is finding it hard to settle into her studies as a result. 

she  visited HSBC again today, but was made to feel she had done something wrong. After 1.5 hours she left with no resolution because she had a lecture to attend. It would seem that no-one in the HSBC branch is able to help her - they request she makes a phone call each time, but she is still unable to resolve this issue. 

What can she do to resolve this?

How can I help her ? She is 20 years old and this is her first student bank account. she is a conscientious student, but is lacking in confidence, and is finding this whole situation very intimidating. 

What is the process she needs to go through to unfreeze her account? What information do you need from her ? 

How can she rectify this difficult situation? 

I am feeling increasingly helpless but am keen to help her resolve this issue. I can assure you there has been no fraudulent activity, rather a stumble at the first hurdle of student life. I trust HSBC is committed to supporting its new student customers - AAAAAAARGH ! 


Comments

  • silvercar
    silvercar Posts: 46,769
    Academoney Grad Name Dropper Photogenic First Anniversary
    Ambassador
    The university should have a welfare officer and be able to help her. 

    Eventually this will be sorted out and her account unfrozen, in the mean time I can only suggest that she tries to speak to someone in the fraud team at HSBC. She needs to tell them that the account being frozen is putting her in hardship and hope they will work quickly. At the end of the day their job is to prevent fraud, so it will take as long as it takes. They will no doubt ask her for whatever evidence they require. 

    You can understand the red flags - new address, a large transfer of recently received money into a start up bank account.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
Meet your Ambassadors

Categories

  • All Categories
  • 341.8K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.2K Spending & Discounts
  • 234K Work, Benefits & Business
  • 606.2K Mortgages, Homes & Bills
  • 172.5K Life & Family
  • 246.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards