It is outrageous that banks can do this, there ought to be legal protection from arbitrary account closures!
On the other hand it is a very strong reason why crypto should be successful; if you protect your private key correctly a Bitcoin wallet will never betray you like that.
Topic: First Halifax, now HSBC - ACCOUNT CLOSED - page 2. (Read 2897 times)
This is pretty worrysome and makes me wary of doing bitcoin related transactions through normal banking.
Were the BTC transactions via localbitcoins, Coinbase, or some other exchange?
Were the BTC transactions via localbitcoins, Coinbase, or some other exchange?
With Halifax, it was sending money to Bitstamp I think, through OK Pay.
With HSBC, it's only been LBC so private BACS transfers.
It is VERY worrying that the banks have us all by the balls. They can cut us off and ruin our lives with the press of a button. Imagine mortgages, utility bills, loans etc all that couldn't be dealt with (easily).
Looks like they are shutting down your account due to the BTC-related transactions. Did you manage to talk them? At least from the first bank to confirm that it was due to that problem.
This is pretty worrysome and makes me wary of doing bitcoin related transactions through normal banking.
Were the BTC transactions via localbitcoins, Coinbase, or some other exchange?
Were the BTC transactions via localbitcoins, Coinbase, or some other exchange?
At least you can try to do something about it, if you lost your wallet pass for instance or lost the coins in an exchange, you would have lost the money for sure. This is the problem with BTC.
My questions now are:
- Will I ever be able to get a mortgage or bank account now with HSBC (or Halifax)?
- Am I black listed somewhere, if so, where?
- Who is there I can complain to?
- What if Santander do the same, and I can't get a bank account, how do I pay my mortgage, get paid my salary etc?
Scary stuff how the banks are so in control of our lives and can cut us off from civilisation by closing our bank accounts.
- Will I ever be able to get a mortgage or bank account now with HSBC (or Halifax)?
- Am I black listed somewhere, if so, where?
- Who is there I can complain to?
- What if Santander do the same, and I can't get a bank account, how do I pay my mortgage, get paid my salary etc?
Scary stuff how the banks are so in control of our lives and can cut us off from civilisation by closing our bank accounts.
You should probably ask your bank or get some proper advice from someone. As a first step I'd make an appointment to see the managers of your bank and ask them what the hell is going on. I think it's bullshit they can just close your account like this but I guess it's probably in the small print somewhere that they can do this at any time so you might be screwed. Best bet is to contact your bank and try calmly get some answers from the manager.
Already tried all this with Halifax a year ago.
It's like hitting your head on a brick wall. They WILL NOT tell you why it's closed. They just refer you to their T&Cs and say they're within their rights.
My questions now are:
- Will I ever be able to get a mortgage or bank account now with HSBC (or Halifax)?
- Am I black listed somewhere, if so, where?
- Who is there I can complain to?
- What if Santander do the same, and I can't get a bank account, how do I pay my mortgage, get paid my salary etc?
Scary stuff how the banks are so in control of our lives and can cut us off from civilisation by closing our bank accounts.
- Will I ever be able to get a mortgage or bank account now with HSBC (or Halifax)?
- Am I black listed somewhere, if so, where?
- Who is there I can complain to?
- What if Santander do the same, and I can't get a bank account, how do I pay my mortgage, get paid my salary etc?
Scary stuff how the banks are so in control of our lives and can cut us off from civilisation by closing our bank accounts.
You should probably ask your bank or get some proper advice from someone. As a first step I'd make an appointment to see the managers of your bank and ask them what the hell is going on. I think it's bullshit they can just close your account like this but I guess it's probably in the small print somewhere that they can do this at any time so you might be screwed. Best bet is to contact your bank and try calmly get some answers from the manager.
So last March:
https://bitcointalk.org/index.php?topic=519601.0;topicseen
And now, just gone to log into my HSBC account and found that I couldn't log in.
I phoned them, and it's almost exactly the same story as Halifax. I never received a letter they apparently sent, but, she read it over the phone and it's almost exactly the same words, just something about not conducting my account within their terms and conditions.
I barely use this HSBC account. I used it in the past to buy a load of computer components, and sell / buy a few times from LBC.
Apparently the letter they sent was on the 25th November 14.
Around that time, I hadn't used my account for quite a while. Since that date, I used it to sell and buy BTC about 4 times, not knowing the account was being closed.
So, I can only imagine that they picked up on some transactions for BTC in the past, maybe people I transferred to or received from have since been investigated and with my account being 'linked' I am suspected too?
It seems though that they don't have to tell my exactly WHY my account is being closed, just 'they don't want to do business with me'.
I have another account with Santander, and have never used it for BTC sale / purchase. I probably never will.
My questions now are:
- Will I ever be able to get a mortgage or bank account now with HSBC (or Halifax)?
- Am I black listed somewhere, if so, where?
- Who is there I can complain to?
- What if Santander do the same, and I can't get a bank account, how do I pay my mortgage, get paid my salary etc?
Scary stuff how the banks are so in control of our lives and can cut us off from civilisation by closing our bank accounts.
https://bitcointalk.org/index.php?topic=519601.0;topicseen
And now, just gone to log into my HSBC account and found that I couldn't log in.
I phoned them, and it's almost exactly the same story as Halifax. I never received a letter they apparently sent, but, she read it over the phone and it's almost exactly the same words, just something about not conducting my account within their terms and conditions.
I barely use this HSBC account. I used it in the past to buy a load of computer components, and sell / buy a few times from LBC.
Apparently the letter they sent was on the 25th November 14.
Around that time, I hadn't used my account for quite a while. Since that date, I used it to sell and buy BTC about 4 times, not knowing the account was being closed.
So, I can only imagine that they picked up on some transactions for BTC in the past, maybe people I transferred to or received from have since been investigated and with my account being 'linked' I am suspected too?
It seems though that they don't have to tell my exactly WHY my account is being closed, just 'they don't want to do business with me'.
I have another account with Santander, and have never used it for BTC sale / purchase. I probably never will.
My questions now are:
- Will I ever be able to get a mortgage or bank account now with HSBC (or Halifax)?
- Am I black listed somewhere, if so, where?
- Who is there I can complain to?
- What if Santander do the same, and I can't get a bank account, how do I pay my mortgage, get paid my salary etc?
Scary stuff how the banks are so in control of our lives and can cut us off from civilisation by closing our bank accounts.
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