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mycustbanking121

HSBC UK SAR Data retention policy

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Hi Everyone,  I may later, but for now, do not upload documents from HSBC as they may be sensitive or private. 

 

here we go:

 

I wanted to get access to accounts i held with HSBC UK over 20 years ago. I was informed a SAR would get me this information. Once i Sent my application. 

 

HSBC UK did not reply within the deadline, Hence SAR non compliance. I turned to the ICO who claimed, for HSBC to not comply to a deadline was not a Non compliance situation. Hence they took no action to enforce my SAR.

 

I continued to contact HSBC about Inactive accounts and my SAR. Representatives and or the department i was referred to, claimed they only hold records of accounts for six years from the date of the last transaction, there for HSBC does not have my account records such as account number and it's final balance

 

During this whole situation, Non of the staff or departments i was in contact with, had any skills or professional advice and knowledge of HSBC UK Inactive account process and the website:\https://www.hsbc.co.uk/help/banking-made-easy/inactive-accounts/

 

When i highlighted this to representatives over the phone, they lost their temper and shouted that they the bank do not hold records for longer then six years and the bank does not have my money.

 

According to the website linked:

  • The Unclaimed Assets Scheme
    • We participate in the Unclaimed Assets Scheme, established under the Dormant Bank and Building Societies Act 2008. If your account is in credit and has been dormant for at least 15 years, we may transfer the balance to Reclaim Fund Limited (RFL). RFL is a not-for-profit organisation authorized and regulated by the Financial Conduct Authority. However, if you have another account with us which is being used, we won't transfer your dormant account money to the central fund since your relationship with us is still active.

 

I continued to contact HSBC over the phone where i was able to meet a nice agent that informed me to contact the branch i held accounts with in the UK, so i did, i recently got back letters that where totally inconsistent to the Linked Website and my demands for services, as they continued to claim HSBC holds no records of transactions, business transactions and account records for longer then six years from the date of the last transaction.

 

I wanted to know if you guys can give me some advice and guidance. should i file an other SAR?

 

The first one i filed was in 2017 before the current updated laws for SAR compliance. Also, I wanted to locate records of dormant and frozen accounts i held with the bank over 25 years ago, these accounts where left in credit, i simply lost track of the accounts.

 

Which department should i contact for this?

 

Currently HSBC departments claim to me that the new Data retention policy of the bank means they do not hold records of the accounts beyond six years from the date of the last transaction.

 Does anyone else have more information i can use to get better services from the HSBC UK, such as how far back can i apply for access to information the banks hold about me like inactive account and dormant records, that the bank may hold for at least 15 years before they consider to transfer funds to the RFL. Since i remained a customer of HSBC UK, i do not think the RFL has my funds, despite this information i still applied to the RFL who had no records of funds HSBC UK May hold.

 

All i need to do now is find out how i can get my matter referred to the right department, as the current department who continues to deal with my matter, has no knowledge of Inactive accounts, as they continue to claim they only hold records of accounts from the last transaction date. Since the attached website clearly highlights HSBC UK holds accounts for at least 15 years when dormant and frozen, this department is not the right one i should be talking to!

 

If i make an application for a SAR, to recover records of accounts i held with the bank over 25 years ago, is it a SAR non compliance for the bank to ignore this and send my application to a department that only holds records of accounts for a period of six years from the last transaction?

 

Please let me know. 

 

Thanks for your time consumers

 

 

 

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you might find this a worthy read..

sorry its so long mind..

 

 

  • Like 1

PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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thanks for the post dx100uk

 

I wanted to know what you thought about my matter, I read the forum in the above post, yet left me confused.

In my case. a department of HSBC states that: "Also, inline with the Data retention policy of the bank, we do not hold records of the accounts beyond six years from the date of last transaction in your account"

 

In other words, the representatives of a HSBC department is not stating they deleted the records, they simply state they do not hold the records after 6 years. that under certain circumstances the bank does stop recording day to day use of accounts within a 6 year period.   Please let me know if you got some more info.. 

 

Thanks

 

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I believe there is a post there from scarlet with an address for a data centre they found?


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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@dx100uk   Thanks for the info, i am looking for the post by scarlet now.

 

Since i sent HSBC an email stating i reject their position regarding HSBC holding records of my account dormant and frozen , for six years period, they replied overnight to inform me they want me to wait up to 8 weeks while they investigate. 

 

I informed HSBC Customer services my SAR and other complaints where going to the wrong department as i seek to be reunited with money i saved with the bank over 20 years ago. I advised them that the department i am constantly referred to only holds records for six years  after the last transaction and there for claim they do not have the records i filed for in my SAR.

 

I then again highlighted the website:https://www.hsbc.co.uk/help/banking-made-easy/inactive-accounts/

 

where HSBC Informs us that they hold accounts that are dorment and frozen for at least 15 years before they transfer funds to a Scheme. But because i continued to have accounts with HSBC, they would not have done this. So the bank should still hold the records i filed for in my SAR.

 

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