Opening business bank account with HSBC - final stage

[zonkkk]

So I have applied online to open a business bank account with HSBC (for my newly incorporated ltd). I went through the online process and now in the final stage I have telephone appointment for them to ask some more questions and inform me of their decision.

What should I expect? I don't want to be rejected for the wrong answer to a silly question, and go through all of it again with another bank. Any advice appreciated.

[Big Blue Plymouth]

So I have applied online to open a business bank account with HSBC (for my newly incorporated ltd). I went through the online process and now in the final stage I have telephone appointment for them to ask some more questions and inform me of their decision.

What should I expect? I don't want to be rejected for the wrong answer to a silly question, and go through all of it again with another bank. Any advice appreciated.

How do you answer with a wrong answer? You must tell the truth otherwise it is fraud.

[LondonManc]

How do you answer with a wrong answer? You must tell the truth otherwise it is fraud.

+1

What are you worried about OP?

[zonkkk]

+1

What are you worried about OP?

Nothing except having to go through it again with another bank if for some reason the application gets rejected. :-)

[zonkkk]

How do you answer with a wrong answer? You must tell the truth otherwise it is fraud.

Agreed. Tell the truth.

If for example they ask me: "What was your last direct debit that went out of your personal bank account you held with us before you closed it." I will definitely get it wrong.

I am just trying to find out about the type of questions they might ask and try to prepare up front.

[BigRed]

their decision is yes, the remainder is covering their backs and fishing for products they can sell you.

[zonkkk]

their decision is yes, the remainder is covering their backs and fishing for products they can sell you.

That's encouraging. Thanks.

[tomtomagain]

That's not true.

What they want to do is establish your identity, whether you are legally allowed to have a UK bank account and to ensure you won't get them hauled up before the authorities for turning out to be an international money-launderer or terrorist.

HSBC went through a phase of closing accounts of people it deemed "risky" a couple of years ago.

You need to take valid identification ( aka passport ) and several items with your home address on it. Driving license, bills, whatever.

[LondonManc]

That's not true.

What they want to do is establish your identity, whether you are legally allowed to have a UK bank account and to ensure you won't get them hauled up before the authorities for turning out to be an international money-launderer or terrorist.

HSBC went through a phase of closing accounts of people it deemed "risky" a couple of years ago.

You need to take valid identification ( aka passport ) and several items with your home address on it. Driving license, bills, whatever.

Or more that they won't get hauled up because they've failed to identify that he's a dodgy person.

[tomtomagain]

Also they check internet forums to see who's been asking how to dodge their "validation interviews". Apparently that's a red flag.


.. and they'll still try and sell you some house-insurance.