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Closed account - payments on the way... help!

6 replies

weetabix07 · 03/01/2018 23:33

I have returned home today to find that the bank have taken it upon themselves to close my business account. This would be bad enough but I have done a number of jobs and am waiting on the money to show in my account. According to the letter now it won't (!)

Does anyone have any experience of being in this sort of situation? I know the remittances are in process therefore it is too late to stop them.

Thank you very much.

OP posts:
Hoppinggreen · 04/01/2018 11:07

Hsbc by any chance?
If so they told me my account was closing on September 14th ( eventually after 4 hours on the phone and 2 in branch) but it didn’t happen for another month
If it is HSBC there is a thread on here about it, you are not alone

weetabix07 · 04/01/2018 11:21

How did you guess 😩 .. I'm really worried. I will look.

OP posts:
Hoppinggreen · 04/01/2018 11:58

The good news (sort of) is that despite my worries another bank was happy to open an account for me and made the process very easy, although I had to transfer all direct debits etc myself.
The whole thing was horrific to be honest and I actually ended up crying in the branch which is totally unlike me.
It’s a complete scandal, it was awful for me but it destroyed some people’s businesses.
I’m not sure but if the if the account IS closed the money will go back eventually and you can issue a new invoice to your client. However, it could take a while. Alternatively HSBC may accept the payment and issue you a cheque but that also takes a while and you may not have another business account to pay it into
I really feel for you OP

weetabix07 · 04/01/2018 15:01

Thank you for your kind words. I have consulted the other thread and went nuclear at the HSBC. It will be sorted out but I need this money now not when they decide to give me it!! Suffice it to say I will be taking my custom elsewhere! It's really catastrophic for us small businesses when banks take it upon themselves to steal our money! I'm glad you got another account ok - I hope I have the same fortune. I may try Yorkshire bank (I think they might be ok from what I've heard). I guess they are all the same though. A nice new year present this was anyway!!!

OP posts:
Hoppinggreen · 04/01/2018 17:09

Funnily enough it was Yorkshire bank I switched to!!
They were really helpful
Best of luck x

delilahbucket · 07/01/2018 13:00

If the account is already closed then the payments will bounce bank to the recipient.
I'm so glad I closed my new HSBC business account and stuck with Santander. Alarm bells rang for me when it was difficult to open it in the first place and the customer service left a lot to be desired, during opening and closing. I've had my Santander one for six years now and it's been brilliant. A doddle to open too.
Hope you get sorted OP.

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