To be furious with HSBC

[Tomboytown]

So they decided to close my accounts.
They can't tell me why.
Despite being customer for 20 years, ex staff, high £ turnover, overdraft, but always within limit.
So I sent them a payment of £5000 to cover the overdraft and close the account, but because they put a stop on the account, the payment was rejected and is now floating around in cyber space and I am going around in circles to get it back.
My bank has tried to claim it back for me but they told them it did credit the account and given them the reference number so that's a dead end.
Aaarrrgghhhh!

Ironically, I’ve just seen a LinkedIn article where their COO has been banging on at a conference recently that ‘modern technology’ in banks is all smoke and mirrors, it’s completely unnecessary and what clients want, is simple, good quality, reliable service

That’s hilarious. HSBC must be the market leader in having eleventy million branches across the globe almost all of which are a glorified hole in the wall.

No 4 digit code, just big long number.
Definitely debited and not credited back.
JL-HSBC in it together!
With JL I got some random excuse about duplicate payments, and new systems, but they took reversed a credit a month after it was credited, it wasn't an automated thing.

HSBC closed our joint account completely randomly.
Couldn't/wouldn't tell us why. The most unhelpful call centre ever.

We're both with Lloyds now. Not perfect but significantly better

£5k is a lot of money to have been stuck somewhere in the system for 5 weeks. This really needs to be sorted.

I bank with HSBC. I find them quite risk averse, but also good at handling complaints. I typically ring them and take it from there, just call the main number and tell them that you want to file a complaint. They usually issue compensation to close the complaint but you can refuse this and ask for the complaint to go ahead. Exhaust their complaints procedure first

You probably won’t be able to reopen the accounts, but they can most certainly give you a cheque for the £5k or use it to write off your overdraft. I would want to know how this would have effected your credit report too, ie would it state that you have an unauthorised £5000 overdraft?

*for the past 5 weeks although you made a payment?

Bank worker here. They can close your account without consultation if you have made 6 vexatious complaints within a year

That would be one of your individual banks employee procedures.

Actually, a bank can close an account for any reason they wish. I also work for a bank and in my role can process any account closure I see fit...it's mainly for abusive behaviour towards or repeated swearing at/hen pecking of call centre staff...people are always 500% more badly behaved when they don't have to look someone in the eye as they shout.

Regarding the 'HSBC can give you a cheque for £5k' - there's ZERO chance of this happening.

If they can't find the payment then it's lost...whether internally to HSBC or externally, it's still lost...for all the bank know at this stage the op received it back and is lying. No bank will throw away £5k before investigating and locating the money, HSBC least of all!

On the phone with them now 32 minutes so far

42 minutes of my life wasted
At least he's done an official payment trace.
He was very understanding and sympathetic, offered compensation of £40, don't know where he plucked that figure from.

It's shit.

As I understand it it's basically a case of computer says you seem dodgy. HSBC got fined 2 billion dollars by the USA for not tackling money laundering, so now they'd rather fuck up honest customers lives than risk another fine like that. The banks then can't tell you anything, that would be "tipping you off".

The more I think about this, they do think I'm dodgy.
Sad thing is, the large transactions are only because my husband died. We actually had an HSBC life insurance policy.

I'm sorry you've lost your DH. Would it be worth a call to the bank's bereavement service?

they were quite helpful st the time, but I really don't care if HSBC think I'm money laundering.
I know I'm not and can prove where all the transactions came from,

Tomboy I'm sorry for your loss, and hope you have supportive people around you.
I don't think this is something that you can easily sort on the phone. Are you at all able to get into a local branch?
You could then sit with a personal banker, go through the relevant paperwork (which should address any ML concerns that the bank may have had), and it gives you a clear contact point.
As for compensation, £40 is bullshit.
I've had a number of run-ins with them about procedure around bereavement and POA so happy to chat in a PM if you like.