HSBC blocked account and now with account review team

[cheesesontoasts]

I could really do with some advice because I feel sick with anxiety!

yesterday my basic hsbc personal account was blocked. I’ve spoken to the account review team and they said they can’t tell me why the account is being reviewed or provide any timescales.

The only thing out of the ordinary this week is that HSBC tried to Redebit my account this week from a chargeback I made 6 months ago but when I spoke to the disputes team they said this was an error and they would arrange a refund (refund however is not processed yet due to said review)

No huge payments into my account, no international transfers. I get my salary paid into the account bills come out and sometimes there’s a bit of money being transferred from savings to my account or from my account to savings- nothing groundbreaking a couple of hundred max but accounts are in my name and it’s clear the money being moved is from my salary.

My dad did transfer me some money about a fortnight ago but this was only £500 and he’s transferred money previously for birthdays/Christmas etc…

I'm currently in the conveyancing purpose as my dad is gifting me the money to buy a 25% share of a shared ownership property but this money is still in his account (thankfully!) although I have made payments to the Housing association and my solicitor out of my account but these were only for £250 and £125 respectively so surely shouldn’t have flagged anything up.

The only other thing I can think of is that I’ve had to do 4 chargebacks in the last 12 months but each have has plenty of evidence supplied and only the most recent one has the company disputed but according to the review team this morning although they can’t tell me the reason for the review the dispute is a separate matter.

my mental health isn’t great and I feel so unwell today with anxiety does anyone have any experience of this or know if it will impact my house purchase?

OK so you can still access money from savings account?

You could contact HA and ask if your father could transfer the money directly to them given the situation I think?

Sorry this has happened, banks are a law unto themselves at times

Sadlyuntil everything is completed, they might be working under that financial law where it is illegal to tell you anything that is going on, including timescale. It sucks, good luck

Yes I’ve got a couple of hundred in savings account with a different bank and I’ve just opened a current account with them too. I’m hoping this account won’t get blocked/frozen too. Unfortunately it’s too late to change my bank details with work this month so my salary is going to get paid into the frozen account.

The solicitor has done all of the proof of funds/ID checks on my dad as giftor so I’m hoping he’ll just be able to settle the completion statement when the time comes as was hoping to exchange and complete end of this month/beginning of April and I’ll be homeless if this all falls through.

I appreciate they have guidelines to follow but it’s not like I’m money laundering thousands of pounds or making concerning payments all over the globe and the staff I’ve spoken to are so rude. I ended up in tears on the phone to the account review team earlier and they helpfully told me to “sort myself out”

They ARE rude! I'd cry too.

Sounds like your finances are similar to mine in that they're simple, I have current account with one bank and savings with another.

It's most likely bank is worried about cloning or irregular transactions in which case it shouldn't take long to be resolved.

Hi sorry to jump on this months after but this has happened to me today. I’m due to give birth in 7 weeks and I’ve just started maternity leave and have zero personal income that I can access. Thank god my husband has a different bank account with a few savings. All my accounts have been randomly frozen, they won’t tell me why, they won’t tell me how long. Just keep saying “it’s statutory law” or something. Can I ask how long it took for them to resolve this with you? They won’t give me any information!

Hi, same thing has happened to me, does anyone have any updates on time frames etc, what the reason was behind it?

Hi, did you get this resolved? The same thing has just happened to me. All my accounts and Credit cards are with the same bank and they are all frozen. I can't access any of my money.

Hey, how long did it take for you?

It took about 4 weeks and my money got unlocked and my bank closed

Your bank closed…… what?

NB
I wish people would update!

Banks can clear existing funds, and then block/close the account. 🤷‍♀️

I do my D2D banking with Bank of Scotland who are brilliant, but unfortunately our mortgage is with HSBC and they are a shower of arseholes: I've been trying to set up the online app with them for a YEAR now.

My bloody name is on the bloody mortgage along with the bazillion checks I had to go through to prove my identity to GET a bloody mortgage, yet they claim they have 'no record of me on their system'.

Weirdly enough, my OH, who owns the other half of the house, had no problem setting his up...

That sounds so stressful for you, OP: can you get any assistance from your conveyancing solicitor?