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HSBC business bank forced closure of accounts

1 reply

jess975 · 11/10/2018 20:08

Hi, There is a thread about Safeguard and HSBC but its all 2017 . I have arrived home from a busy day to receive a letter from HSBC via our accountants who are also share holders saying they are closing our bank accounts ( no company name , no account nos) we have 4 companies in the group & 8 bank accounts. We are out to series A investment and have 3 serious investors chasing us for very serious sums. Our current market valuation is over 6 figures and we have just sold shares to this effect- we now have no bank account to put the funds in ??? mid transaction .We are at a loss to understand this & have not been given any option to discuss.We do have an overseas bank account but as we are a Uk company we'd rather like to bank in the Uk and pay tax here ?

OP posts:
Hoppinggreen · 13/10/2018 19:57

Search for a previous thread on this
Quite a few people ( including me) were hit with this. For me it was upsetting and inconvenient but it has destroyed some people’s businesses.
In my experience and that of most people once they’re have decided to close the account there is no discussion or right of appeal.

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