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    • notaexpert
    • By notaexpert 23rd Feb 16, 9:59 AM
    • 6Posts
    • 1Thanks
    HSBC - Safeguard update information
    • #1
    • 23rd Feb 16, 9:59 AM
    HSBC - Safeguard update information 23rd Feb 16 at 9:59 AM

    I have received a letter from HSBC asking me to update my details in order for my protection 'safeguard' they call it. I went and checked my details online and all is correct.

    I rang them as I did not want to fill the form out and post back. They wanted to know my residence status, gross annual income, my tax status, employer name, hours I work etc.

    I have never had to do this before for any other account and no one I know has had to either.

    Is this the norm?
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    • xrayfilms
    • By xrayfilms 21st Aug 17, 1:43 PM
    • 1 Posts
    • 0 Thanks
    Ive had a terrible time with this. I can't believe HSBC would treat a customer who's account has never been in the red this way. They told me I had to do the interview and gave me a date. I sat by the phone fuming, waiting for the call and no one called me. Then a few weeks later, whilst abroad with my young family, HSBC then froze my account, all my direct debits to suppliers failed, my own salary was unpaid an we had no access to any money. I was totally stranded abroad and had to cover the return trip on credit cards. I had to wait a week after the freezing of my account to get an interview, during which time I was told computer says no, you can't access your account until you've done the interview. I now have a VAT return to complete but can't even print a statement. When I did the interview, which was simply bizarre "Do you intend to keep a large amount of money in your account ? " was one question. I also had to provide details of all my suppliers, my costs and outgoings - much more than HMRC have ever asked for. It took an hour and a half. When I asked how long before my account would re open so I could continue to run my business, I was told "There's no time frame, we'll write to you". I have to pay my mortgage next week but I haven't received my salary so will be unable to do so. Today I had reams of emails from paypal for business costs that have bounced back that Im having to cover on personal credit. This has been such a ham fisted !!!! up, I cannot begin to express how angry I am. I will be closing my account and anyone else who's had this experience, I urge you to post it on HSBC Facebook page.
    • Kinny555
    • By Kinny555 10th Jan 18, 10:30 PM
    • 1 Posts
    • 0 Thanks
    I received these letters and thought they may have been bogus so I ignored them. My Debit card got refused last Friday and Sunday I phoned the bank and they have closed my account and will not re activate it. I have been with them since they were Midland Bank over 30 years ago and never had an issue and always a good credit rating. I run as a sole trader and depend on my account for debits going in and out including HMRC and many others of course. I struggle as it is to keep up with work hours, let alone paperwork. They have said they will send me a cheque to clear my account. I know they sent me this letter 3 times so technically it is my fault but I saw it as a scam and for the first time ever I feel let down by my bank for their abrupt response.
    • goodValue
    • By goodValue 5th Feb 18, 5:31 PM
    • 76 Posts
    • 1 Thanks
    I have had an HSBC account for over 30 years but have not had a Safeguard letter.
    Is it just for those with Business or Internet accounts, or am I likely to get one in the future?
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