WTF - HSBC informed me by letter my business account is being shut

[BR14]

they could be using any excuse.
HSBC are downsizing their UK presence <since 2015, i think>and will probably try to offload UK ops as a rebranded Midland IMO.
let's hope they make a better fist of it than RBS did.

[BrilloPad]

Every year there are more stupid regulations on tedious bits of paperwork.

Yet the amount of fraud never seems to decrease.

zeitgeist

[garethevans1986]

We had something similar, send off the paperwork and still with HSBC.... :S

[d000hg]

Have you perhaps received money from, or made payments to, a non-EU country where HSBC doesn't have own presence? They tend to be quite sensitive to that.

I do have a client based in HK but isn't that where they come from?

The letter suggests there is no point contesting it but it would be nice to see what they are upset about, since this is apparently quite rare - my accountant says they haven't seen this before and they must deal with a lot of HSBC customers.

[Maslins]

Unsure if it's the same issue, but one of our clients had a horrid time with HSBC a few months back. Wrote a blog post about it here which may be of interest.

However, his account was simply suspended (pretty much as painful), not actually closed, so may well be something entirely different. Still, thought it may have some relevance here.

[PerfectStorm]

Yorkshire Bank and Clydesdale (same bank) do 2 years free for switchers. They've been very good and there's no need to go into a branch.

[MrMarkyMark]

I do have a client based in HK but isn't that where they come from?

The letter suggests there is no point contesting it but it would be nice to see what they are upset about, since this is apparently quite rare - my accountant says they haven't seen this before and they must deal with a lot of HSBC customers.

So, you filled out the online form correctly and submitted the required supporting paperwork?
Seems others on this post have faced similar issues, so I would check you did everything correctly before throwing your toys out of the pram

[NotAllThere]

Possibly something similar to this happened here. Anti-money laundering legislation - incorrect or missing information, and they'll close your account, and won't tell you why.

[BrilloPad]

Possibly something similar to this happened here. Anti-money laundering legislation - incorrect or missing information, and they'll close your account, and won't tell you why.

Post #2

"This is your first post on EF so you don't have any history here, so why would we believe your story, likely you have not told us all the info."

Thankfully no-one on CUK would post anything like that as it is full of such lovely people.

Do I have to add ?

[PerfectStorm]

Post #2

"This is your first post on EF so you don't have any history here, so why would we believe your story, likely you have not told us all the info."

Thankfully no-one on CUK would post anything like that as it is full of such lovely people.

Do I have to add ?

"Sockie!"