HSBC blocked basic bank account

cheeseontoasts

I’m assuming I don’t need to worry about CIFAS markers or anything since they’ve unblocked the account? I’ve read some horror stories on here that have made me nervous! 

Thanks for all the advice though everyone- it’s been much appreciated 

jameseonline

I think my credit score wasn't great at the time because I was applying for other accounts around the same time, hense why HSBC gave me my basic account, but I achieved a better score, ditched it & got their Regular Saver and that was my aim, really not interested in using their standard current account (still got it though just in case they up their rate launch other things) tbh 🤣

I'm glad you managed to sort things out. Hopefully you have a better relationship with your new bank.

Nasqueron

cheeseontoasts said:

jameseonline said:

A few thoughts to what's been posted so far:

You have a "Basic" account, yet it seems a lot of money is flying around.

Several chargebacks.

Using money to buy property?

I think alarm bells are ringing with HSBC and probably rightly so.

As for having a Basic account in my experience it isn't suspect in itself, I applied for HSBC standard current account and they gave me a Basic account, card, pin everything, I later got the standard current account, so therefore had 2 accounts with HSBC at the same time, I tried to apply for their Regular Saver, got rejected, I had a call with HSBC they eventually told me to get rid of the basic account(even though I had their standard current account at the same time) I did then got their Regular Saver.

I'd say try getting HSBC's standard current account if you can, ditch basic because it seems to me you might not be using it for what it's meant for.

You seem to have at least 1 account elsewhere which you should probably use unless that's a basic too then I don't think I can really help further.

In short I feel you need a standard current account if you don't already 

I had a basic account as my credit score used to be terrible- thankfully it’s improved somewhat now so I managed to get a current account with Santander although I only applied for this last week, I didn’t think it would show up on HSBC’s radar that quickly. I have had a savings account for a while though so maybe it’s that. 

Appreciate 4 chargebacks sounds a lot but they were all genuine, having said that no one has called and asked for further evidence or anything which I found strange if that was the reason for the block

The property money is from inheritance and not actually in my account so that’s unrelated to the block

I’ve closed my account with HSBC today anyway after they unblocked it as the customer service is awful so I’ll start using my Santander current account going forward now 

Your credit "score" is not seen or used by any lender, it's a gimmick number created by the agencies to try and make money from you. All that matters is the actual data on your record which is used by the lenders to score you with a system internally that you will never see