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Rohan Fernando

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Review of the HSBC, Fixed Rate Saver Bond:

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Fixed Rate Saver cannot close during cooling off period

My Current Account Number – Sort Code 40-44-20 Account Number XXXXXXXX FXD Rate Saver Sort Code 40-22-85 Account Number XXXXXXXX I opened the above FXD Rate Saver investment for £20,000 on around 26/7/2024 Within a few hours I noticed that I had made a individual deposit while I intended making a joint investment with Mrs D Fernando, similar to my other deposit. This was a genuine mistake Within one day I called HSBC. The person who answered the first call said that the investment cannot be changed from individual to joint. Within one day called again and the person who answered said that the change could be done at a branch and made an appointment at Bromley Branch as the Orpington Branch did not have a diary at that time. I visited the Bromley Branch on 1/8/2024 and met a person at the back office and he mentioned that the deposit could not be changed from individual to joint, but could be closed without fee as it was within the cooling off period of 14 days and the monies credited back to my bank account. He made this statement after going through some documentation and spent quite some time reading the document before decision was made I was requested to write letter stating the above which I did and handed over the letter. He mentioned that the letter will be sent to the relevant department to take action As nothing had happened I visited the Orpington Branch on Monday 12/8/2024 and mentioned all what happened to an officer in the Orpington Branch. The officer mentioned that she would send a message to the Bromley Branch Officer. But she was also mentioning about a fee which was not mentioned by the Bromley Branch officer I wish to close the deposit. It is my money and I should be able to decide what I can do with my money. It seems that HSBC is holding me to ransom, by demanding a fee when there is a cooling off period as mentioned by the Bromley Branch officer Reviewed on: 13th August 2024

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