When a Bank Closes Your Account Without Telling You

by Rachel Baker on December 1, 2013

The thing that isn’t mentioned in the below article is that for every account the banks close there is a place on a person’s credit report that says they’ve had a bank account closed – making it extremely difficult to open an account anywhere.

Its good to see this sort of thing doesn’t just happen to people who are overdrawn $1.00 (yes, one dollar) for more than 30 days with low activity personal account after having been a member of a particular bank (I’m talking to you Oculina) for 7 years.

I’ve been a customer of HSBC since 1999, and while that doesn’t account for much these days, I grant you, I’m also a blogger that regularly gets 250,000 to 1 million views to posts I make in respect to digital banking, bank strategy and bank customer service issues. So you’d think that HSBC would be maybe a little bit more careful about screwing with me when it comes to my accounts. Apparently not.

On the morning of Black Friday as I took a car home from JFK airport I attempted to use my HSBC Debit Card attached to my business account and was told it was declined. This surprised me, but I assumed it was some sort of a fraud hold, and not actually any real problem with the account. So imagine my surprise when I rang the call center a couple of hours later and was told they couldn’t help me because my account had been closed!. I was shocked, the account had had no issues of fraud, I hadn’t once gone into overdraft in the history of the account and I hadn’t been notified of any issues, I certainly hadn’t been notified of the account closure, so how could this happen?


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