www.iva.co.uk

He went to the bank knowing he had money in there, the balance is zero, where has the money gone?
His Iva meeting is next week
Have Hsbc closed the account without notifying him?
He owes no money with Hsbc.

Hi,

It could well be as HSBC are well known for closing down accounts for people associated with an IVA. Does he have any credit cards associated with them? If so it could be that they have offset his money before the meeting. He could query this with HSBC.

Halifax did the same to me and offset a £34 balance against a £20k debt!

kallis3 wrote:

Hi,

It could well be as HSBC are well known for closing down accounts for people associated with an IVA. Does he have any credit cards associated with them? If so it could be that they have offset his money before the meeting. He could query this with HSBC.

Halifax did the same to me and offset a £34 balance against a £20k debt!

He has no credit cards or loans with Hsbc only this account, no overdraft facilty

Anything to do with First Direct at all?

kallis3 wrote:

Anything to do with First Direct at all?

No don’t think so, not sure I understand.. he applied for this account through Hsbc website

First Direct and HSBC are part of the same company.

When did he apply for his account? Was it before his IVA application? I would certainly query things with them.

kallis3 wrote:

First Direct and HSBC are part of the same company.

When did he apply for his account? Was it before his IVA application? I would certainly query things with them.

I see.. ok he applied before the Iva

Get him to open a new one now - Co-op are good. I would still query it with the bank as he has not had his meeting yet.

He needs to ask the Bank for an explanation.

HSBC are renowned for doing this as soon as they get wind of an IVA on the horizon. They can and do close accounts with no notice (whether they are allowed to is another thing) In any case the money that was in there belongs to your husband and he should demand that he gets it back immediately.

Foggy wrote:

HSBC are renowned for doing this as soon as they get wind of an IVA on the horizon. They can and do close accounts with no notice (whether they are allowed to is another thing) In any case the money that was in there belongs to your husband and he should demand that he gets it back immediately.

Absolutely agree, but however it turns out they haven’t closed it, he contacted them it turns out he is minus £6.42
He checked yesterday his balance it said, 57£ and a few pennies, available to withdraw £31.33
Spent £18.59
So whatever has happened some how 12£ odd has gone,
The bank said, he only had 12.27 left and then made that purchase, but surely this would have been declined?
I’ve no idea how these banks work.

Nikki365 wrote:

Foggy wrote:

HSBC are renowned for doing this as soon as they get wind of an IVA on the horizon. They can and do close accounts with no notice (whether they are allowed to is another thing) In any case the money that was in there belongs to your husband and he should demand that he gets it back immediately.

Absolutely agree, but however it turns out they haven’t closed it, he contacted them it turns out he is minus £6.42
He checked yesterday his balance it said, 57£ and a few pennies, available to withdraw £31.33
Spent £18.59
So whatever has happened some how 12£ odd has gone,
The bank said, he only had 12.27 left and then made that purchase, but surely this would have been declined?
I’ve no idea how these banks work.

Banks don't generally decline for small overdrafts, but they sometimes kill you with charges for the priviledge. I would advise changing banks asap as HSBC are liable to close it anyway. As mentioned above the Co-Op cashminder account is very popular, but a basic account at any bank which isn't a creditor should serve.