The Wholesale Forums

[mattm2K7]

Hi
I use an HSBC bank account for 13-17 year olds and have a SOLO card. Will my bank let me recieve a fairly high value bank transfer to it or will it reject it and my money's lost.
Any Help Appreciated
Matt

[PT]

You need to speak to HSBC. Call into your local branch and seek advice from them. It all comes down to your own situation really (the amount you may be recieving, how often, etc. etc.).

[mattm2K7]

I know this sounds stupid but I am worried if I go and ask they'll place limitations on my account. I already think there suspicious of my heavy amount of paypal activity as they asked me to reset my security number for no explained reason. The amount is in the region of £500, and I would probably be recieving these once a week if they allow me.
Thanks
Matt

[MustHaveMobiles]

HSBC are pretty good at recognising accounts being used as Business Accounts without actually being a Business Account (ie. no charges). the best bet is to be honest, tell them what is what and take their advice.....also recommend an accountant (they will save you money guaranteed)

[anotheruser]

There is very little chance they will refuse to accept it. If you tell them in advance you are expecting it, you may get one of their investigators asking questions, either in branch or by phone. But they are looking for money laundering activity. These amounts are too low and they are just ticking their boxes.

At worst, you may suffer some minor inconvenience. If you inform them what's happening in advance, chances are you will experience no inconvenience at all.

[D M]

It is a BANK, this is what they are there for. I doubt a few 500 quids would raise alarm bells. The money certainly wouldn't get 'lost' !