HSBC tell me to go elsewhere

[kano]

I play poker full time like many of you, I'm a steady winner but by no means huge amounts. I have been a HSBC customer for the last 10 or so years when I joined up in school. I have a few accounts with them, primarily my current account which i use to deposit/withdraw to the various poker sites. I recieved a letter a few weeks previous asking me to refrain from sending money to various organisations which were not named on the letter, i never got a clear answer from them as to who or why. I wake up this morning to 8 missed calls from the manager of my local branch explaining he has been asked to contact me as HSBC is no longer willing to offer the current products i have with them any longer, primarily because of the nature of the withdrawals to the account. He offers me a business banking account but strongly suggests I find 'alternative banking methods'. This can't be right, can it?

[kinboshi]

I'd speak to them to clarify the situation.

At the end of the day though, the bank can decide who they want or don't want as a customer.

[kano]

I spoke to the manager earlier and he insisted it wasn't his decision but came from account reviews or the like in London. He explained that the powers higher up were insistent that the transactions constituted a business but, as he is well aware, they are simply withdrawals from very well known sports books/ poker rooms.

That's true, but after 10 years of being a loyal customer and maintaining my account I srtruggle to see why they would want to push aside a customer who could bring them a fair amount of business in the future.

[Longy]

Erm this doesn't sound good, my "poker account" is with HSBC.

What sites do you play on and how often do you move your money about?

[PocketLady]

I know a lot of people who play poker for a living are a little bit errr, discreet about what they do when dealing with banks.  Obviously it's a little hard when money is coming in and out of your account from poker sites all the time.  Not sure what you can do about it now tbh, but if I were you in the future I might keep two current accounts with two different banks and use one of them only for making deposits and cashing out from poker sites.  That way if one gets closed then at least you still have all your banking facilities with the other bank.

[DaveShoelace]

I cant see what their problem is based on what you have said. Do you mind if I ask if your account has been in credit for the last few years?

Was it a business account you had with them? I know you said current account but their response implies you should have a business account.

Its seems pretty ridic, what would they care if an online gambler has an account with them if they have plenty of money? Unless they suspect money laundering could be an issue, as it sometimes is with online gambling.

Stick this same post on www.moneysavingexpert.com and I think you might be able to get a HSBC insider to inform you what their policy is with gamblers.

[Horneris]

I make about 1,000 deposits and withdrawals between poker and sports betting accounts and my HSBC account every day.

GG life.

[ShatnerPants]

Sounds to me like they've noticed you're using the account to fund your 'business'  IE playing poker for money.  You probably have more activity on the account than a 'normal' person would.

So they think you are conning them by using a personal current account ( no charges ) instead of paying through the nose for a business account where they can charge you for each deposit and withdrawal you make.

Shift your account to another bank, and be more subtle about your usage, maybe 

[kano]

Erm this doesn't sound good, my "poker account" is with HSBC.

What sites do you play on and how often do you move your money about?

I have played on various sites in the last few years but pretty much exclusively with sky poker for the last 6 months. I sports bet selectively, maybe a few times a month max for up to a couple of k a time. The majority of money moved from the account is from my current account to my e-saver account(hsbc).

[kano]

I cant see what their problem is based on what you have said. Do you mind if I ask if your account has been in credit for the last few years?

Was it a business account you had with them? I know you said current account but their response implies you should have a business account.

Its seems pretty ridic, what would they care if an online gambler has an account with them if they have plenty of money? Unless they suspect money laundering could be an issue, as it sometimes is with online gambling.

Stick this same post on www.moneysavingexpert.com and I think you might be able to get a HSBC insider to inform you what their policy is with gamblers.

Hi Barry

Yes, in credit regularly for the last few years especially last 18 months. I have a cash isa with the full allowance and an e-saver account with a fair sum in it.

It is a personal current account. The manager tried to explain I should have been using a business account as i am depositing and withdrawing leaving a profit and trading as a business? I refuted this and he agreed, simply citing the head office message that these type of transactions are not welcome. His exact quote was 'This is not how a current account should be used'

[Horneris]

I cant see what their problem is based on what you have said. Do you mind if I ask if your account has been in credit for the last few years?

Was it a business account you had with them? I know you said current account but their response implies you should have a business account.

Its seems pretty ridic, what would they care if an online gambler has an account with them if they have plenty of money? Unless they suspect money laundering could be an issue, as it sometimes is with online gambling.

Stick this same post on www.moneysavingexpert.com and I think you might be able to get a HSBC insider to inform you what their policy is with gamblers.

Hi Barry

Yes, in credit regularly for the last few years especially last 18 months. I have a cash isa with the full allowance and an e-saver account with a fair sum in it.

It is a personal current account. The manager tried to explain I should have been using a business account as i am depositing and withdrawing leaving a profit and trading as a business? I refuted this and he agreed, simply citing the head office message that these type of transactions are not welcome. His exact quote was 'This is not how a current account should be used'

Ahhh, i should be fine then.

[Indestructable]

I am guessing that the issue here is that the bank doesn't want to provide the current arrangement for free. There must have been some activity that has highlighted this to them though, rather than it staying under their radar.