All of my accounts have been closed with no notice or reason
1
All of my bank accounts have been closed, with no notice or explanation given to me.
I run a business and this has caused me countless problems so I'm only going to mention a few of the major ones.
I don't know which customers have paid for their orders, I'm unable to pay suppliers, I'm unable to repay debt, I'm unable to consitently put food on the table.
This is an abhorrent way to treat a customer of 7+ years. I haven't eaten breakfast in over 4 days, I'm living off hand outs from friends and family and also building up debt with my credit cards... at the same time as being unable to pay them off. I'm unable to put fuel in my car, I'm late with my rent payment.
I cannot put into words the sheer level of stress, anxiety and financial hardship that has been directly caused by this situation.
It's been 7 working days since they closed my accounts, however it was only yesterday that the cheque with my account balance was sent in the post. Letters from HSBC have taken on average 5-7 working days to turn up at my house, this means I will be without access to my personal or business funds for over 14 working days, or 18 calendar days.
(I will update this if/ when the cheque arrives)
In a time where small businesses are already struggling to keep liquid, whether it be the extended lead times on products or unexpected price increases passed on by raw material suppliers along with all the other hurdles, having your account completely shut down with zero notice and no explanation is very, very scary. However unbelievable this may seem, it is in HSBC's terms and conditions that this can be done to anyones account, without notice, or reason. Check for yourself.
Adding to all of this, HSBC refuse to go into the specifics of why my accounts have been terminated. It's gotten to the point that I've had to submit a 'Subject Access Request' regarding all the information that was reviewed that led them to this decision. Whilst requesting this from HSBC I was told by numerous of their staff that HSBC would refuse to give this information, I mentioned that this would be illegal under the freedom of information act 2000 as this gives any individual (data subject) the right to request access to all the information held about them. DO NOT give up when trying to put this request to them, they legally have to do it, but will give you every excuse under the sun as to why they can't do it.
This is easily the worst way I've been treated in my life, either by an individual or organisation.
Save yourself the stress, time and embarrasment and bank with anyone but these jokers.
Reviewed on: 26th August 2021
