HSBC - Problems With Business Bank Account - Not Sure Where To Turn

SallyUK

We're a partnership and have had the same business account for a number of years. The partners always left the running of the account to the business manager who pays bills, staff, salaries etc.
HSBC sent us a letter saying they needed to do a Safeguarding Review otherwise they were going to close the account on 13th February 2025. 
The manager tried to speak to them via online chat numerous times, and explained that the partners never accessed the account. They advised that one of the signatories should ring them, which did happen. The partner couldn't get passed security due to it being years since they last logged in. They reset their username and password. However didn't have a security device so tried using the mobile app. Still problems arose and each time signatory rang, they were told to re-set their username, re-set their password. This has gone on now for weeks! Today they were asked to complete a form and receive a response within 2 - 4 hours. Still no response! Business manager went onto chat again and there we have it - back to - signatory will have to ring etc.
They even looked at where the nearest branch is and planned to go into the bank, however it's miles away and when trying to book an online appointment, didn't have an option to speak about business accounts?
On chat, they were asked to have someone ring the signatory, however HSBC refused that suggestion too and said they were an online chat service.
They've even contacted the Ombudsman, however that too takes time.
Question is - would they be better moving accounts? Can they do a switch when it's a current account with partners? There's no phone number to be able to contact the local branch? 15th February is almost here and just can't find a solution to this?

DullGreyGuy

Small businesses can use the switching service, comes down to their number of employees and turnover. 

Opening a business account however isnt as straightforward as a personal account and most will need all who have a material financial interest to present at the branch for KYC checks which requires appointments so they have left it late. 

When my HSBC security device died I just went to the branch without an appointment and they gave me a replacement for my business account. They normally allow 3 months for responses to their reviews so sounds like people haven't been giving it the priority.

Hoenir

Is the business manager not an authorised signatory to the bank account?

Slinky

Not being funny, but this has highlighted an area of your business which needs to be addressed. What happens when the business manager goes on holiday? What would happen if they fell ill, got hit by a bus or left the business suddenly.  No one person should have sole access into a business's accounts, particularly when other staff are relying on getting paid! If that person went 'rogue' they could have cleaned your accounts out and disappeared with your company funds and you'd still be faffing around trying to get access into your accounts to find out what was going on.

Speaking as a former business owner.

SallyUK

Unfortunately business manager is not a signatory. 

They have been trying to rectify this since December. 

Once they are able to get access, they can then set up the account differently, but the main issue at the moment is getting access. 

The nearest branch is miles away and the signatories have clinics with patients each day. 

gt94sss2

HSBC have inadvertently done you a favour by causing you to realise that the internal governance of your bank account is insufficient.

Could a different signatory try and pass security? 

If you try and change bank account, all your signatories would need to provide ID evidence to the new bank which from the sounds of it will be equally as inconvenient as solving the issue with HSBC.

Personally, I don't think contacting HSBC on web chat is trying hard enough to resolve the situation and can understand why their webchat staff would not be able to make outgoing calls 

Looking at the HSBC website, they quote 0800 030 4516 as the telephone number for Safeguard queries on https://www.business.hsbc.uk/en-gb/contact-us

Edit: HSBC also have https://www.business.hsbc.uk/en-gb/campaigns/hsbc-safeguard which may also provide helpful information.

Slinky

One of the partners needs to bite the bullet, gather as much information as they can, and go and visit the bank, however far away that may be. If your account gets closed on Thursday/Friday, how do you plan on keeping going?