Consumer complaint received 2025-11-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: CO

Complaint narrative:
HSBC Bank USA closed my Premier checking account without prior notice, which has now blocked my ability to access approximately XXXX XX/XX/XXXX that I hold in an associated Global Money foreign-currency account. 

On or around XXXX XX/XX/year>, I attempted to initiate a transfer from my Global Money account denominated inXX/XX/XXXX to my XX/XX/XXXX account also denominated in XX/XX/XXXX. When I tried to access the transfer screen on both the XXXX XXXX app and the XXXX website I received the following generic error message : We're sorry, this service is temporarily unavailable. Please try again later. I tried again on or around XXXX XX/XX/year> and received the same error. 

I contacted HSBC support via online chat on XXXX XX/XX/year>, where I was told for the first time that my XX/XX/XXXX checking account had been closed on XX/XX/year> because it showed a {$100.00} balance. I later received a letter on XXXX XX/XX/year> ( which was undated ) stating that the account had a {$100.00} balance and was closed. After I followed up with XXXX via XXXX chat on XXXX XX/XX/year>, XXXX explained that the {$100.00} balance was due to monthly XX/XX/XXXX service fees when I did not meet account qualifications. I am not disputing that explanation. 

However, because the checking account was closed, HSBC now says I can not transfer my NZD out of Global Money to my external NZD account ( with XXXX XXXX as I previously did multiple times. Instead, HSBC has told me that the only way to get my money is to liquidate my XX/XX/XXXX, convert everything to XX/XX/XXXX at HSBCs exchange rate, and receive a mailed USD check. This effectively holds my XXXX investment captive unless I accept forced XX/XX/XXXX conversion and related fees. 

For context, I successfully made prior transfers free of fees or XX/XX/XXXX conversion from my HSBC XXXX XXXX account to my XX/XX/XXXX account on at least XXXX separate occasions before this incident ( including on or around XXXX XX/XX/year>, XXXX XX/XX/year>, and XXXX XX/XX/year> ) via HSBCs app and website, following HSBCs instructions with that they call " XX/XX/XXXX ''. Those transfers completed successfully and did not involve XX/XX/XXXX conversion or additional fees, and I have receipts to prove it. I relied on HSBCs representation that XX/XX/XXXX were free of XX/XX/XXXX conversion and fees when deciding to open and fund this account, and I would not have opened the account had I known that, upon closure of the linked checking account, XXXX would restrict access to my NZD and require forced conversion to USD to withdraw my funds. 

I filed a formal complaint with XXXX ( internal complaint no. XXXX ) during my XXXX XX/XX/year> chat and specifically asked for a direct NZD transfer to my external NZD account, or, if XXXX refused, a refund in XX/XX/XXXX converted at a fair/mid-market rate with all XX/XX/XXXX and issuance fees waived. I was told I would receive a phone call within XXXX business days with an official response. It is now XXXX XX/XX/year>, XXXX business days later, and I have not received any response to my complaint from HSBC, and my funds remain trapped.

Company response to consumer: Closed with explanation