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Let me just quote you what HSBC have actually said


Ian Davenports – Manager

It is important that we take into account a customer’s ability to repay before deciding to enter into a credit agreement


Ian Davenports – Manager

A lender must show that it has made an adequate record demonstrating that it has taken account of the customer’s ability to repay and that is has evidence that demonstrates the customer’s ability and intention to repay


Declan Brown – Customer Resolutions Clerk

When making a decision to issue a customer with a Credit Card, HSBC  require proof of income to establish whether credit limit can be supported by the customer’s financial background.


Declan Brown - Customer Resolutions Clerk

This is done to protect both us and our customers from over exposure and, subsequently, any financial loss


Declan Brown - Customer Resolutions Clerk

We can review the decision once we are provided with proof of income crediting the account on a monthly basis


Ben Price - Customer Resolutions Clerk

Savings and Investments held by the Bank cannot be considered as income.

I trust that matters have now been resolved to your satisfacton.

HSBC Bank plc

Customer Relations

PO Box 6001




Merry Hill Shopping Centre


Last year, after having disposed of some shares, I had some money in my HSBC giro account and for several weeks I was inundated with phone calls from the HSBC telling me that this money could earn more interest and suggesting to me to see one of their financial advisors.

Eventually I gave in and during the meeting they advised me that if I would invest £50.000 with the HSBC then this would qualify me for a HSBC Premier Account which supposedly offered various benefits, including a Premier Reward Credit Card.

They convinced me to go ahead, I transferred more funds to them from a savings account and they changed my previous HSBC account to a Premier Account

They sent me a new Debit Card but then told me that I had to complete a new application for a Credit Card as my old Credit Card had been cancelled due to the fact that I had not used it.

I completed the application and to my utter surprise I was turned down for a Credit Card unless I provide them with a proof of regular monthly income, something I had never been asked before by any financial institution.

They claimed that they had to take into account my ability to repay and they totally ignored the fact that I had deposited a rather substantial amount with them.

I don’t really need another Credit Card, I got quite a few and I hardly ever used the previous one, but there are occasions when a Credit Card provides an amount of security should things go wrong, such as the payment for a holiday or the purchase of household appliances.

On the few occasions when it suited me to use a Credit Card for these reasons I settled the account immediately upon the receipt of the statement and I have never been in debt, which they are fully aware of, having checked my credit file several times over the last few month.

My intention was to use the HSBC Premier Account as my main bank account for the day to day banking but, without a Credit Card linked to this account, there is absolutely no point of having a bank account with the HSBC.

When I asked them to justify how they can question my ability to repay, bearing in mind that they are holding my money, I received another rather rude and offensive letter from a Declan Brown who claimed that they require proof of income to establish whether credit limit can be supported by the customer’s financial background and that this is done to protect them and me from any financial loss.


What a load of drivel.


By their own admission they confirm that I hold a ‘substantial amount of money’ with them, money which I effectively lent to them and they tell me that my financial background does not support a decision to issue me with a Credit Card.

At no time was I told that I needed to provide them ‘with proof on income crediting my account on a monthly basis’ and had they told me that when they persuaded me to transfer my money to them I would have told them where to stick their Premier Account.

I was mislead and misguided by them to invest my money with them and I have now written back and told them to keep their Credit Card and to revert all transactions and credit my giro account with the amounts I had invested with the HSBC which will allow me to close my account with the HSBC and  move my funds to a financial institution which welcomes depositors and does not insult their clients.

It took them 4 weeks to reply only to tell me that the letter from Declan Brown was in no way intended to offend and to claim that ‘savings and investments held by the HSBC cannot be considered as income.’


A very interesting statement from a bank, so please don’t be tempted to entrust your money with the HSBC  if you expect any income from your savings.  They are currently making £2000 every minute using your money and then insult you when they refuse you a Credit Card claiming that you  would default on the repayment.  What a bunch of hypocrites.


As I had told them to stick their Credit Card they are now claiming that this matter has been resolved to my satisfaction, which most certainly is not the case.


I am now waiting for the response from Ian Davenports regarding the return of my investments with the HSBC to enable me to close my account and to move my  funds to another bank.


Watch this space there will be more..........................


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