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Tony Hetherington: HSBC ban is far from a safe bet

Tony Hetherington is the Financial Mail on Sunday’s ace investigator, battling reader corners, uncovering behind-the-scenes truths, and winning for those who have lost their money. See below for how to contact him.

Mystery: HSBC Closes Reader’s Apartment Account

PH wrote: I sign an account with HSBC which was set up decades ago to cover the maintenance costs of four apartments on the property where I live. I received a letter from HSBC stating that some “business details” must be verified for a procedure called “safeguards”.

I submitted the details online and was thanked but received another letter which appeared to be a duplicate of the first.

Nevertheless, I filled in my details again and was told by HSBC that the bank would close my account because I did not provide the required information.

Tony Hetherington replied: HSBC claims its safeguarding reviews are meant to protect its customers from fraud, but no matter how hard you try to cooperate with the long list of questions and evidence required, HSBC will discard them and I’ve been told many times by readers that I’m going to close them down. account. Smaller accounts belonging to clubs and community groups are particularly vulnerable, with a customer claiming he doesn’t want HSBC in business.

The results can be disappointing. You called HSBC to maintain your account and were told a 6-digit code would be mailed to you, but nothing arrived. Then by check he paid two bills. One for £94 to the contractor and one to the building insurance company for £1,440. Both bounced back as HSBC closed the account.

This left you and the other apartment owners uninsured, which was personally embarrassing because you are a local attorney.

You opened a new account with NatWest, but HSBC refused to send over £5,000 which remained frozen in the closed account. Armed with your signed authority, I asked HSBC for comment, verified the details of your call to maintain the account, gave me a copy of the custody record, and asked what you had not answered. I made it possible to check if there is

That was May. That’s right – May of last year. Since then there have been virtual wrestling matches between me and her HSBC. A minor win was HSBC releasing the account balance and offering £200 ‘sorry’. I claimed to have been sent a code to keep my account, but HSBC blankly refused to show me the security questions for “security reasons”. However, the bank has revealed that there was a problem with the company at your address.

I had to threaten legal action for HSBC to get records on you, but in the end a copy of the protection questionnaire was sent directly to you, but not to me Then you handed me an 11 page document. I scanned it to find out why the bank declined your response. There was a large space with the heading ‘HSBC Rejection Reasons’, but it was completely blank.

This leaves the mystery of the company based on your address. what was this company Is HSBC your home address or your law firm’s address? HSBC said it “found another unrelated company with a similar address”. But what does this have to do with the apartment owner’s account?

While I was questioning HSBC, the Financial Ombudsman Service was also investigating and instructed HSBC to increase the apology payment to £300. But I have to confirm what you told me almost a year ago. It’s hard to disagree.

will take years

MR writes: My uncle left about £1.2million in his will and I am one of the beneficiaries.

He passed away in February 2020, and W. Davies Solicitors of Woking took over management of the estate in April of that year.

They then asked for some information I provided and said it needs to be cleared by December 2020, but still says the property is ‘work in progress’.

By the end of 2021, lawyers have identified 28 beneficiaries.

By the end of 2021, lawyers have identified 28 beneficiaries.

Tony Hetherington replied: I got a copy of your uncle’s will from the Probate Registry, but I actually ended up sympathizing with the lawyer as much as you. The will made some specific bequests, after which all the rest was left to his wife, your aunt.

But she died a year before your uncle, and by your uncle’s will, in this case, the remainder should be shared among your aunt’s brothers and sisters, and if they died, their share. should be passed on to their children.

Your aunt had 10 brothers and sisters, but your uncle didn’t give you the details.

By the end of 2021, lawyers had identified 28 beneficiaries, but more needs to be confirmed. Since we first contacted them a few months ago they have agreed to pay half the amount predicted and you have received over £22,000. Just empty the property and face claims from previously unknown beneficiaries.

tragic late payment

RM writes: Last April, my daughter died suddenly. She found a Canadian Sunlife Financial personal pension statement among her papers, so I notified the company last June and her death was referred to the coroner, so a provisional death certificate was issued. submitted.

In August, the company said it had outstanding claims. A final death certificate was requested in October and I sent it.

I complained in November and was told I would be contacted within 5 days, never heard back.

Transfer of 470,000 records was not entirely successful and some values ​​had to be calculated manually

Transfer of 470,000 records was not entirely successful and some values ​​had to be calculated manually

Tony Hetherington replied: You contacted me after learning that you reported a similar issue last October. The company has since admitted responsibility and said it will migrate its policy management service to a new system in 2021.

This transfer of 470,000 records was not entirely successful. This meant that some values ​​had to be calculated manually, creating a backlog. However, this does not block payments.

“Mr M’s case is particularly disappointing as this claim should have been paid in July 2022.” This resulted in £31,571 plus £748 in interest, plus £700 as an apology. . You are investing this in your daughter’s teenage son.

If you believe you have been the victim of financial fraud, write to Tony Hetherington at Financial Mail, 9 Derry Street, London W8 5HY or email please. Due to the high volume of inquiries, we are unable to respond individually. Please only send original copies. Unfortunately, the original cannot be returned.

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