HSBC closed current account and savings

grumbler

SiliconChip said:

If it's correct that the bank has actually closed your accounts with no notice, rather than saying they'll close them in 60 days or frozen your access to them, then it's very likely that they feel they have good evidence of criminal activity. They won't do immediate closure unless they are very sure of their position.

'good' and 'very sure' are sort of meaningless terms in this particular context.

eskbanker

grumbler said:

If the accounts are really closed, not frozen, then they must give you your money and inform you how they are going to do this.

That's not strictly true though, if the money is determined to be the proceeds of crime, not that I'm suggesting that applies here....

grumbler

eskbanker said:

grumbler said:

If the accounts are really closed, not frozen, then they must give you your money and inform you how they are going to do this.

That's not strictly true though, if the money is determined to be the proceeds of crime, not that I'm suggesting that applies here....

So, can they just close accounts and keep money without explaining anything to the customer? Is a court order (or similar) not needed for confiscating everything?

If it's really determined, isn't it the police matter to deal with?

prettyandfluffy

clast07 said:

HSBC have closed my savings and current account with no communications and can give me no reason why, has this happened to other people recently? Thanks in advance for any suggestions as currently have no access to any of my money they hold.

It's possible it's an investigation by their fraud department in which case they won't tell you anything or release any funds until they have concluded their investigation.  Do you have another account you can use in the meantime? If not, I suggest opening one.  Hopefully you have funds elsewhere to tide you over.

clast07

No on all counts. How can they treat people like this, and give them no notice or reasoning.

clast07

As worded in branch as post an annual review can no longer provide financial services. In branch rep had no details of the review. All very bad.

GTR_King

Account closed immediately= fraud money laundering etc CIFA’s marker! 

so what funds have you had in your account? Sold anything recently?? 

Account closed in 30-90 Days= business decision used account for business or for crypto currency l!

have a good look at over your bank statements etc see what activity you had on your account! 

If innocent they might reverse the decision or not put CIFA’s maker on the account! 

We can only help if you tell us the full story 

clast07

Just done a cifas check. Sold nothing, recently paid in from some share sales.

clast07

I have no explanation for this. This is full story.

eskbanker

grumbler said:

eskbanker said:

grumbler said:

If the accounts are really closed, not frozen, then they must give you your money and inform you how they are going to do this.

That's not strictly true though, if the money is determined to be the proceeds of crime, not that I'm suggesting that applies here....

So, can they just close accounts and keep money without explaining anything to the customer? Is a court order (or similar) not needed for confiscating everything?

If it's really determined, isn't it the police matter to deal with?

I wasn't suggesting that the bank can unilaterally decide that by themselves and choose to retain the proceeds!  I must admit that I'm not familiar with the detail of the process initiated by submitting Suspicious Activity Reports to the National Crime Agency, but if OP is now clarifying that there's no CIFAS marker and that the closure is from an annual review then that renders the potential crime proceeds angle irrelevant....