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    HSBC UK Bank PLC

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    ndl_alex0608
    HSBC is closing the customer's bank account and providing two months' notice. Any outstanding balances will be paid out via cheque unless alternative instructions are provided. Direct debits and standing orders must be transferred to another account. The customer's electronic banking and cards will be deactivated when the account closes. HSBC may use its right of set-off to reduce amounts owed by using credit balances in other accounts.

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    HSBC UK Bank PLC

    Uploaded by

    ndl_alex0608
    355 views4 pages
    HSBC is closing the customer's bank account and providing two months' notice. Any outstanding balances will be paid out via cheque unless alternative instructions are provided. Direct debits and standing orders must be transferred to another account. The customer's electronic banking and cards will be deactivated when the account closes. HSBC may use its right of set-off to reduce amounts owed by using credit balances in other accounts.

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    HSBC is closing the customer's bank account and providing two months' notice. Any outstanding balances will be paid out via cheque unless alternative instructions are provided. Direct debits and standing orders must be transferred to another account. The customer's electronic banking and cards will be deactivated when the account closes. HSBC may use its right of set-off to reduce amounts owed by using credit balances in other accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    355 views4 pages

    HSBC UK Bank PLC

    Uploaded by

    ndl_alex0608
    HSBC is closing the customer's bank account and providing two months' notice. Any outstanding balances will be paid out via cheque unless alternative instructions are provided. Direct debits and standing orders must be transferred to another account. The customer's electronic banking and cards will be deactivated when the account closes. HSBC may use its right of set-off to reduce amounts owed by using credit balances in other accounts.

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    of 4

    ONLINE COPY

    Reference: CSSEXIT/XCLSAC
    18 March 2021
    Dear Sir/Madam

    We're sorry we have to close your account(s). This letter explains the reason why and what will
    happen next.

    Bank Account 40118420250260

    At HSBC we carry out regular reviews of the accounts, products and services we offer our customers.

    We have recently reviewed your accounts and our decision is that we will no longer be able to provide you
    with our banking products and services.

    Your account(s) will close on 21 May 2021

    We understand this may be a difficult time for you and we're giving you at least two months’ notice that
    we're closing your account(s) and services. This means you can carry on using your account(s) and our
    internet banking service until we close them. If you'd like us to close your account(s) sooner then please get
    in contact with us.

    If you choose to switch to another provider using the Current Account Switch Service (CASS) or open an
    account with another provider, this must not be a member of the HSBC Group. Our decision, and this letter
    of notice, conforms to the Terms and Conditions of your account

    Third Party Access to your account has been removed

    As part of our closure process we have removed any Third Party access to your account.

    What you need to do now

    Please get in touch with us to tell us where to send the money


    You can transfer the funds yourself through digital or telephone banking platforms or withdraw the funds in
    branch. If you've already told us what to do, we'll follow your instructions. If not, and we haven't heard from
    you by the closure date, we'll send you a cheque for any remaining balance owed. Please read the appendix
    to this letter for more detailed information.

    If you owe us any money, we'll take it from your account balance
    In your terms and conditions, this is called our right of set-off. After we've settled anything you owe, we'll
    send any extra money to you via cheque, if not already arranged by yourself.
    Continued... 40118420250260_CSSEXIT
    HSBC UK Bank plc
    Banking Operations, Harry Weston Road, Binley, CV3 2SH
    Tel: 03457 404 404 Web: www.hsbc.co.uk

    Registered in England and Wales number 09928412. Registered Office: 1 Centenary Square, Birmingham B1 1HQ
    Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our firm
    reference number is 765112
    2

    We realise that this is a difficult situation and that it may cause you some inconvenience. However, we will
    do our best to make the process of closing your Accounts as straightforward as possible. If you have any
    questions please get in touch with us on 03457 404 404.

    Yours faithfully

    Your HSBC Banking Team

    40118420250260_CSSEXIT
    1

    Bank Account(s)
    40118420250260

    In line with your terms and conditions, we are writing to give you at least two months' notice that we will
    end your contract with us and close your Bank Account on 21 May 2021, unless you advise us you would
    like it to close sooner.

    Outstanding credit balances

    Unless we receive alternative instructions from you by 11 May 2021 we will send you a cheque for any
    outstanding credit balance you have when the account is closed. This will be sent as soon as possible,
    usually within 10 days, but can occasionally take longer.

    Overdrawn accounts

    Your overdrawn account will be closed and you will need to pay the full outstanding balance due. If you
    don't pay the outstanding balance within this time frame, this will lead to us issuing a default notice and final
    demand letter notice. If you do receive a demand notice and the balance remains outstanding, your account
    will be passed to HSBC Repayment Services for collection of this outstanding balance.

    We will register this default with credit reference agencies, which may affect your ability to obtain future
    credit.

    If you need any further support or advice, we recommend you to speak to the Citizens Advice Bureau or
    Money Advice Service. You can get more information and find contact details at:
    https://www.citizensadvice.org.uk
    https://www.moneyadviceservice.org.uk

    Set-off

    We may use our right of "set-off" to reduce or repay any amount you owe us. Please see the "Set-off
    Information" sheet enclosed with this letter for more information about what this means.

    Direct Debits, standing orders and debit card continuous payments

    If your account has any Direct Debits, standing orders or debit card continuous payment instructions set up
    you will need to arrange for these to be paid from another bank. We suggest that you contact the
    companies/people you make regular payments to and advise them that you are changing your bank account
    details; they can then help you set up any new Direct Debits, standing orders or debit card continuous
    payments.

    We suggest that your alternative account will need to be in place by the time your Bank Account is closed
    as we will cancel all your Direct Debits, standing orders and debit cards.

    If you have been making payments to any lending products, or any insurance products from your Bank
    Account, and you do not make alternative payment arrangements, then this could cause you to go into
    arrears and incur costs or could invalidate any insurance policies. Potentially resulting in a claim being
    declined.

    Electronic banking, cheque books and cards

    When your HSBC Bank Account is closed, all electronic banking will cease and any Secure Keys you have
    will be deactivated. You will also need to ensure that all cheque books and cards are destroyed.

    Bank Account benefits

    When your account is closed your HSBC Bank Account benefits will also be withdrawn.

    Continued... 40118420250260_CSSEXIT
    2

    Information about "set-off"

    What does "set-off" mean?


    If you:
    • have money in a sole or joint account with us; and
    • owe us money on another sole or joint account (this could be an overdraft, loan, credit card or any
    other credit product),

    we can use the money you have with us to reduce or repay the amount you owe us.

    This is our right of "set-off".

    We can use this right in the following ways:


    Account in credit held in the name of: Right of set-off can be applied against
    amounts owed on accounts held by:
    A A
    A A and B
    A and B A and B
    A and B A
    A and B B

    Does this only apply in the UK?


    Unless prevented by law, we will use our right of set-off in relation to any sole or joint accounts that you
    hold with any HSBC Group company anywhere in the world.

    Exceptions
    We cannot use our right of set-off:
    • against any money in an account in your name which you've told us isn't yours;
    • against any money which we're required to hold by law in an account in your name for someone
    else;
    • in a way that doesn't comply with any law, regulation, code of conduct or industry guidance;
    • against any money in an account that we think you need to cover essential living expenses or certain
    important debts.

    We may convert to sterling any balance that is in a currency other than sterling at the HSBC Exchange Rate
    that applies at the time.

    40118420250260_CSSEXIT

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