We also lost our bank account with HSBC. A bank account we had held in good standing and without any issues since we launched in 2017.

We initially tried to open a new account with a different bank and transfer our money. However, the new bank rejected us just as the funds had reached them. Our money was returned to HSBC, but we could no longer access it, and even today, we still have not retrieved our money from HSBC.

In August 2021, after failing to get a resolution through the HSBC complaints process, we requested arbitration through the UK's banking Ombudsman. We were informed of a long wait due to Covid, which had resulted in many bank-related problems for businesses. It wouldn't be until November 2022 that our case would be assigned.

Since arbitration started we have provided many details including the bank account where HSBC could send our money. Within a week of handing over that information, that bank account was suspended without notice. We informed the Ombudsman that we do not want to give HSBC additional bank accounts and prefer any transfer from HSBC use a third party such as escrow, even a bag of cash would do. A necessary action that will likely lengthen the process.