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Should I close my HSBC personal account, before they force close it?

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  1. #1

    Join Date
    Mar 2018
    Posts
    4

    Unhappy Should I close my HSBC personal account, before they force close it?

    Hello everyone,

    Recently I have recieved the “HSBC safeguard letter” following with a call from them. They asked me few questions regarding my current and permenant address, email and normal stuff, and then he asked me about my place of birth and my nationality since they are different. I was born in middle east but I am holding an European passport, however I have not provided this info to them before as the guy who opened my account in the first place put place of my birth same as my passport.
    Now that he called askig about that, I feel extremely worried if they going to shut down my account. HSBC is very important for my banking activities and It is crucial for me to keep it open as long as I am in HK.
    So I was wondering if I should voluntely close my account before they force close it? And perhaps open it again after a month or so? Just do not want to have a bad record in their system.
    I would really really appreciate your taught and inputs regarding this. Thank you


  2. #2

    Join Date
    Mar 2018
    Posts
    4

    Well sometimes I recieve payments from corporate accounts which I provide consulting.
    And also send money to corporate accounts for the purpose of personal investment. But all within Hong Kong and not on a regular basis.


  3. #3

    Join Date
    Mar 2018
    Posts
    4

    Thanks a lot for the input.
    but would you suggest me to close my account voluntarily and perhaps re-open it after few months, or should I just wait and see if they force close it? Does it make any difference? Thanks again for your help


  4. #4

    Join Date
    Sep 2007
    Location
    Yuen Long
    Posts
    1,563
    you actually believe they will let you re-open the account?

  5. #5

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    Are you asking if there is a closed account blacklist??


  6. #6

    Join Date
    Mar 2018
    Posts
    4

    Yea I was wondering if I should go to branch and close my account before its forced closed, and I know if they close my account I cannot open it again.


  7. #7

    Join Date
    Mar 2009
    Location
    Hong Kong
    Posts
    2,260

    Why don't you close it and open one with a different bank?


  8. #8

    Join Date
    Aug 2013
    Location
    The World
    Posts
    1,948

    1. Give HSBC the information they asked for. Then they can tick the KYC/DD box and move on.

    2. Whilst your account is open and in good standing, get a bank reference letter from HSBC then go open a back-up account somewhere else.

    It always amazes me how so many people in HK, whether local or new, seem to think that HSBC is the only bank one should open an account with. There are other choices. Use them!