Hsbc account restricted
- Thread starter Vohogis764
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The reason for these checks will have︁ nothing to do with whether your relationship is 'good' or 'bad' nor whether you are︂ 'welcome' or not.
From my experience (UK) banks including HSBC will do intermittent AML checks︃ on account holders to check if the details they hold are still accurate/valid. And in︄ further checks if the purpose/reason for the account usage are still valid.
Typically, these checks︅ will be headed by a 'REFRESH' team that is conducting these checks. I have such︆ a letter from another UK bank.
If you don't provide the information they request, your︇ account will be suspended. You won't be able to put more funds in or out︈ until their compliance standards are met.
The bigger question I have for you is, why︉ not recognise and see this for what it is, 'standard' regular AML checks (every 6-12︊ months), which have only unfortunately got more stringent over the years?
From my experience (UK) banks including HSBC will do intermittent AML checks︃ on account holders to check if the details they hold are still accurate/valid. And in︄ further checks if the purpose/reason for the account usage are still valid.
Typically, these checks︅ will be headed by a 'REFRESH' team that is conducting these checks. I have such︆ a letter from another UK bank.
If you don't provide the information they request, your︇ account will be suspended. You won't be able to put more funds in or out︈ until their compliance standards are met.
The bigger question I have for you is, why︉ not recognise and see this for what it is, 'standard' regular AML checks (every 6-12︊ months), which have only unfortunately got more stringent over the years?
I think they will have told you in the letter what the outcomes will be for non-compliance as they see it.
Do I think this is 'normal'? It is not extraordinary.
Are you able to post your letter censoring personal/private details? That will give a big clue as to the tone/nature/direction of this AML check.
Do I think this is 'normal'? It is not extraordinary.
Are you able to post your letter censoring personal/private details? That will give a big clue as to the tone/nature/direction of this AML check.
Thanks for sharing.
Please keep us updated.
I've read a lot about account freezing with HSBC Expat. However, I've never read how long it takes or how difficult it is to release the funds.
Did you have to have them translated into English by a certified translator?
Please keep us updated.
I've read a lot about account freezing with HSBC Expat. However, I've never read how long it takes or how difficult it is to release the funds.
Did you have to have them translated into English by a certified translator?
Sorry you are experiencing this.︆ It must be one of the most horrible things to deal with.
Could you provide︇ more details about your citizenship(s), or why you think they are freezing your account? If︈ they have "reasonable" reasons to freeze your assets for that long, they might think money︉ laundering / unjustified source of fund. Any unusual /large deposits? Were you a long term︊ customer? Without more details, it is hard to understand the situation.
I would think of︋ lodging a formal complaint with HSBC as well. I did in the past after many︌ useless calls with support (not for compliance reasons) and they magically resolved it in a︍ week. Might not be the same story for compliance/AML reasons but worth a shot if︎ you genuinely believe they are being irrational.
Good luck
Could you provide︇ more details about your citizenship(s), or why you think they are freezing your account? If︈ they have "reasonable" reasons to freeze your assets for that long, they might think money︉ laundering / unjustified source of fund. Any unusual /large deposits? Were you a long term︊ customer? Without more details, it is hard to understand the situation.
I would think of︋ lodging a formal complaint with HSBC as well. I did in the past after many︌ useless calls with support (not for compliance reasons) and they magically resolved it in a︍ week. Might not be the same story for compliance/AML reasons but worth a shot if︎ you genuinely believe they are being irrational.
Good luck
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