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Joint Account Rules (HSBC)

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My wife and I had a joint HSBC bank account together up to 17th March.


We are separating and wanted to have our own separate bank accounts, HSBC seemed the easiest route to take.


I initially went in to see them on a Monday and asked to open a new account, this was done. They also froze the joint account (with about £400 in there) until we could go in together to see them.


Here's what I don't understand and where I think that HSBC staff basically lied to us, but I don't know the rules. The clerk who was dealing with the accounts said that because we'd come in and told them that we were separating it would be illegal for them (not HSBC rules but FSA rules) to keep the joint account open.


The problem that this caused was the Direct Debits I then had to transfer from the old joint account to my new (and empty of cash) account were returned. All of a sudden I get three letters more or less within a day of each other from HSBC that they are closing my new account because of 3 returned DDs.


Did HSBC lie to us that they MUST close a joint account when they've been informed that the couple are separating? To say I'm furious at how they've treated me when I've been a decent customer (paying for their Premier account when it was a joint account) for the last 7 years or so.

Photovoltage vs Halifax PLC

April 2007 - Halifax pay back all charges, court fees and interest but do not remove Default Notice from credit file.

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The FSA are no longer .. the regulator is now the FCA (Financial Conduct Authority).




You might want to have a look on their site to see if there is anything mentioned about Joint accounts or telephone them. They dont usually deal with individual situations, but they might be able to point you in the right direction.


HSBC make up the rules as they go along.. IMHO. You could make a formal complaint to their Registered/Head Office.

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It isn't illegal or, as far as I know, against any of the regulators rules for a joint account to remain open during disputes.


It may well be HSBC's own policy though - Have a look at the terms and conditions for your account (section 22.3 in particular)




If any one of you tells us of a dispute between any of you, we may treat this as notice of cancellation of the authority set out at clause 22.1. If we do, any further transactions, including payments by standing order or direct debit, will need the authority of you all and the use of additional services such as PIB may be suspended (this would mean that you would have to make alternative arrangements for your regular payments to be made). We may also ask for the return of any unused cheques and cards. Until all the cards are returned, card transactions (including those carried out via self-service machines) will continue to be deducted from the

joint account. We will need the authority of all of you to pay out any credit balance on the joint account or to close the joint account.

Edited by Klandestine
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