HSBC Business Banking ****tards
Discussion
So I discovered on Tuesday that HSBC have closed my business bank account after 8 years of constant use. It first came to my notice when I tried to login to my account and failed. Upon calling their service team, they informed me that my account had been closed and that i should visit a branch to discuss further.
The branch advised me that they had sent me a letter in June, informing me that I had to reply with required details otherwise my account would be closed in 2 months timed. They sent the sent the letter to an address that is 7 years old.....When they did not receive a reply, they closed my account and sent a 6 figure cheque, again to this old address. When I queried why they did this, they couldn't explain why, as they agreed that they had my current address on file for the last 3 years!
They are now saying that they can only issue another cheque to the correct address - a cheque for f
ks sake?! Who the fk uses cheques? I've never paid in a cheque in 8 years, I don't even own a cheque book. What the fk am I supposed to do with a cheque?! When they closed my account and transferred it's contents to a holding account, did they print a cheque, post it to themselves and then go a branch to pay it in? Did they fk! 2017 and they want to send me a bit of paper in the post, so that I can go and hunt down a bank branch that hasn't been closed within 30 miles of me, just so I can retrieve MY money that they have effectively stolen due to their own fking incompetence. How can that be any more secure than a bank transfer? They wouldn't even send the cheque recorded!
Utter, utter,s.
The branch advised me that they had sent me a letter in June, informing me that I had to reply with required details otherwise my account would be closed in 2 months timed. They sent the sent the letter to an address that is 7 years old.....When they did not receive a reply, they closed my account and sent a 6 figure cheque, again to this old address. When I queried why they did this, they couldn't explain why, as they agreed that they had my current address on file for the last 3 years!
They are now saying that they can only issue another cheque to the correct address - a cheque for f
ks sake?! Who the fk uses cheques? I've never paid in a cheque in 8 years, I don't even own a cheque book. What the fk am I supposed to do with a cheque?! When they closed my account and transferred it's contents to a holding account, did they print a cheque, post it to themselves and then go a branch to pay it in? Did they fk! 2017 and they want to send me a bit of paper in the post, so that I can go and hunt down a bank branch that hasn't been closed within 30 miles of me, just so I can retrieve MY money that they have effectively stolen due to their own fking incompetence. How can that be any more secure than a bank transfer? They wouldn't even send the cheque recorded!Utter, utter,
s.There must be a business account manager who was your contact at the bank?
You need to make a complaint pronto.
Start here. - https://www.hsbc.co.uk/1/2/contact-and-support/fee...
You need to make a complaint pronto.
Start here. - https://www.hsbc.co.uk/1/2/contact-and-support/fee...
Edited by bad company on Thursday 31st August 09:49
terrydacktal said:
TEKNOPUG said:
Utter, utter, s.
Bizarre. A cheque is pretty easy to use still, you could post it to your branch with a post it on with your ac and sc on if you wanted. Strange anger towards a cheque. s.I have now been 7 days without access to MY money - waiting another 10 days is acceptable is it? So far staff haven't been paid, insurance DDs have been missed, HMRC payments have been missed, money paid to my business has been returned.....yeah strange anger to a f
king cheque.Edited by TEKNOPUG on Thursday 31st August 10:09
bad company said:
There must be a business account manager who was your contact at the bank?
You need to make a complaint pronto.
Start here. - https://www.hsbc.co.uk/1/2/contact-and-support/fee...
I no longer have Business Account manager, as I no longer have a bank acount, I have been informed.You need to make a complaint pronto.
Start here. - https://www.hsbc.co.uk/1/2/contact-and-support/fee...
Edited by bad company on Thursday 31st August 09:49
Furthermore, I am working away in Edinburgh next week, so I won't be at home to receive the cheque. I've asked them to send the cheque to an HSBC branch in Edinburgh. They won't do that. So the earliest I can pay the cheque in is Monday 11th September, which means by the time it clears, it will be 3 weeks that my business has had zero money in it's account!
bad company said:
There must be a business account manager who was your contact at the bank?
You need to make a complaint pronto.
Start here. - https://www.hsbc.co.uk/1/2/contact-and-support/fee...
Indeed do this right now. They should probably have already opened a complaint, but if not then explicitly ask for one to be opened. If it was due to their mistake then they should compensate you for your losses.You need to make a complaint pronto.
Start here. - https://www.hsbc.co.uk/1/2/contact-and-support/fee...
I have had to go through the exact same process with my HSBC business account and everyone will to some extent or another.
A rather stern letter from HSBC saying fill out the online information request or we close your account in 8 weeks. When I questioned HSBC they state that there are new money laundering regulations in place that have prompted this.
Speaking to a friend he says the banks are completely covering their ass on this as they're trying to avoid any reason that the EU can impose more massive fines on them, understandable to some extent.
I have had to complete the same sort of information request for Bank of Scotland and Metrobank business accounts as well, no threats of closing the account from them though.
A rather stern letter from HSBC saying fill out the online information request or we close your account in 8 weeks. When I questioned HSBC they state that there are new money laundering regulations in place that have prompted this.
Speaking to a friend he says the banks are completely covering their ass on this as they're trying to avoid any reason that the EU can impose more massive fines on them, understandable to some extent.
I have had to complete the same sort of information request for Bank of Scotland and Metrobank business accounts as well, no threats of closing the account from them though.
TEKNOPUG said:
Which branch would that be then? I no longer have a business bank account. Why should I have to wait for them to print and post me a cheque, then post that cheque to another bank and then wait for it to clear? Why can't they just transfer the money instantly?
I have now been 7 days without access to MY money - waiting another 10 days is acceptable is it? So far staff haven't been paid, insurance DDs have been missed, HMRC payments have been missed, money paid to my business has been returned.....yeah strange anger to a fking cheque.
If you don't have a bank account where are you proposing to deposit the cheque?I have now been 7 days without access to MY money - waiting another 10 days is acceptable is it? So far staff haven't been paid, insurance DDs have been missed, HMRC payments have been missed, money paid to my business has been returned.....yeah strange anger to a f
king cheque.Edited by TEKNOPUG on Thursday 31st August 10:09
TEKNOPUG said:
I'll have to open another bank account - 7 to 10 working days.
So even if you had the cheque or HSBC was willing to BACS it, it is of no use until your new account is live.I agree with others that you should formally complain to HSBC though, they have treated you unfairly and you should be able to get some compo out of them.
PurpleMoonlight said:
So even if you had the cheque or HSBC was willing to BACS it, it is of no use until your new account is live.
I agree with others that you should formally complain to HSBC though, they have treated you unfairly and you should be able to get some compo out of them.
Terrible service - you should definitely get compensation.I agree with others that you should formally complain to HSBC though, they have treated you unfairly and you should be able to get some compo out of them.
I'd advise not using Barclays business banking as my experience of them is dreadful!
PurpleMoonlight said:
TEKNOPUG said:
I'll have to open another bank account - 7 to 10 working days.
So even if you had the cheque or HSBC was willing to BACS it, it is of no use until your new account is live.O
I agree with others that you should formally complain to HSBC though, they have treated you unfairly and you should be able to get some compo out of them.
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