Reply to: Opening business bank account with HSBC - final stage

[sal]

Make sure if they ask you "Are you involved in opium/cocaine trade?" to answer Yes. This will guarantee you an account with them

[MarillionFan]

Whatever you do though, don't tell HSBC you need card payments.

As a new business account, it quite clearly shows that I'm opening a retail shop and will need merchant services.

They push that to Global Payments, who must have rung me about 20 times on my mobile and house phone in the last two weeks, but didn't make an actual appointment. So today I asked them to make an appointment to speak to me.

About ten minutes in from reading from a script, diptulip agent goes, let me just check (pause) and then comes back and says 'Sorry we need two years accounts for a merchant account. We dont do new businesses'. FFS. It's a new business. DONT WASTE MY ******* TIME!!!

Clueless.

[BigRed]

Weird. No phone call. But an email saying they couldn't reach me, although mobile on the desk in front of me with full signal.

However they have opened my account...

Wonder if I can get a job from a missed telephone interview, much less stressful.

[zonkkk]

Weird. No phone call. But an email saying they couldn't reach me, although mobile on the desk in front of me with full signal.

However they have opened my account...

[vetran]

It was the longest and most intimate conversation you had all week.

that's not what Mrs d000hg said when MF & I popped over.

Oh that's it she didn't use the word conversation or week.

[d000hg]

Nothing to worry about. A very dull call.

Don't lie. It was the longest and most intimate conversation you had all week.

[BigRed]

That's not true.

What they want to do is establish your identity, whether you are legally allowed to have a UK bank account and to ensure you won't get them hauled up before the authorities for turning out to be an international money-launderer or terrorist.

HSBC went through a phase of closing accounts of people it deemed "risky" a couple of years ago.

You need to take valid identification ( aka passport ) and several items with your home address on it. Driving license, bills, whatever.

What's not true?

What they want to do is establish your identity, whether you are legally allowed to have a UK bank account and to ensure you won't get them hauled up before the authorities for turning out to be an international money-launderer or terrorist.

I believe I said the remainder is covering their backs

You need to take valid identification ( aka passport ) and several items with your home address on it. Driving license, bills, whatever.

To a telephone interview

[vwdan]

I did it last week with HSBC. Meeting lasted about 4-5 minutes. They're basically asking you what type of business you are (ie. SIC code), turnover, do you do cash, cheque online etc and make sure you are a real person, do you need merchant services blah blah.

Nothing to worry about. A very dull call.

Yep - as above. No hassle when I started with them.

[zonkkk]

I did it last week with HSBC. Meeting lasted about 4-5 minutes. They're basically asking you what type of business you are (ie. SIC code), turnover, do you do cash, cheque online etc and make sure you are a real person, do you need merchant services blah blah.

Nothing to worry about. A very dull call.

Awesome. Thanks.

[MarillionFan]

So I have applied online to open a business bank account with HSBC (for my newly incorporated ltd). I went through the online process and now in the final stage I have telephone appointment for them to ask some more questions and inform me of their decision.

What should I expect? I don't want to be rejected for the wrong answer to a silly question, and go through all of it again with another bank. Any advice appreciated.

I did it last week with HSBC. Meeting lasted about 4-5 minutes. They're basically asking you what type of business you are (ie. SIC code), turnover, do you do cash, cheque online etc and make sure you are a real person, do you need merchant services blah blah.

Nothing to worry about. A very dull call.

[tomtomagain]

Also they check internet forums to see who's been asking how to dodge their "validation interviews". Apparently that's a red flag.


.. and they'll still try and sell you some house-insurance.

[LondonManc]

That's not true.

What they want to do is establish your identity, whether you are legally allowed to have a UK bank account and to ensure you won't get them hauled up before the authorities for turning out to be an international money-launderer or terrorist.

HSBC went through a phase of closing accounts of people it deemed "risky" a couple of years ago.

You need to take valid identification ( aka passport ) and several items with your home address on it. Driving license, bills, whatever.

Or more that they won't get hauled up because they've failed to identify that he's a dodgy person.

[tomtomagain]

That's not true.

What they want to do is establish your identity, whether you are legally allowed to have a UK bank account and to ensure you won't get them hauled up before the authorities for turning out to be an international money-launderer or terrorist.

HSBC went through a phase of closing accounts of people it deemed "risky" a couple of years ago.

You need to take valid identification ( aka passport ) and several items with your home address on it. Driving license, bills, whatever.

[zonkkk]

their decision is yes, the remainder is covering their backs and fishing for products they can sell you.

That's encouraging. Thanks.

[BigRed]

their decision is yes, the remainder is covering their backs and fishing for products they can sell you.