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My business's £80k bank account was frozen for nearly a year - then closed with no explanation

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My business's £80k bank account was frozen for nearly a year - then closed with no explanation
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💬 “The letter came out of the blue. It said HSBC was closing the account, it wouldn’t say why but told us we had to make alternative arrangements,” said Colin Harrison after his business account was frozen 🖋️ gracegausden93

  • 📰 i newspaper
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  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 89%

Having a bank account closed can be devastating as Mr Harrison told“It was so stressful. After we opened our account with HSBC, not long after we took out a bounce back loan during the pandemic which came out of this account.

He made repeated calls and wrote many letters and emails to HSBC after but never received an adequate explanation. It turned out the rest of the money in the account, £40,000, had been used to pay off his bounce back loan in full, without his knowledge. The account had been closed.

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