Opening Hsbc Bank Account

[shedend]

A friend of mine left UK about 6 years a go to live in another Southern Asia country but did not pay back his bank loan he had with HSBC.

He has now been offered a job but must open a bank account with HSBC.

The question is if he owed HSBC money from a bank loan 6 years a go will he be blacklisted or will this debt be written off and would he be able to open a new account with HSBC?

Thanks for any information on this.

[thaicbr]

usually the debt is written of after 6 years of NON CONTACT. so it depends on when your friend stop replying.

[shedend]

6 years is what he told me but obviously he is still worried that if he tries to open a new account with HSBC he will still be on their records. Thanks for the reply anyway.

[Wallaby]

In australia, if you default on loan or credit card they can chase you for 5 years. But if you do a runner (cannot be contacted) it lasts 7 years. I would suggest that if it is 6 years for the UK account then they won't be able to do anything.

I would think that if he applied to hsbc for a credit card then it would be declined due to his non payment but he should have no trouble opening an account.

That's my 2p worth anyway.

[edwardandtubs]

How much was the loan? If it was for a large sum they probably would have got a County Court judgement against him that stays with him until he pays, dies or is discharged from bankruptcy. Ask your "friend" about that.

[george]

You can apply online with HSBC here:

http://www.thaivisa.com/hsbc

[shedend]

How much was the loan? If it was for a large sum they probably would have got a County Court judgement against him that stays with him until he pays, dies or is discharged from bankruptcy. Ask your "friend" about that.

It was for 14k. He does not know if any CCJ's were issued as he has not been back to the UK for 6 years. I informed him he should not open a new HSBC account because even though he is in Southern Asia he will still be on the system. I think I am correct here?

[edwardandtubs]

Just from a common sense perspective, you would expect a bank like HSBC to keep a record of defaulters and to seek to enforce the debt as soon as the debtor has come to their attention. Why not just tell this friend of yours to go ahead and accept the job but then tell his new employer that he has received very poor customer service from HSBC in the past and doesn't want to open another account with them? I'm sure his employer can find an alternative way of paying him.

[Rooo]

How much was the loan? If it was for a large sum they probably would have got a County Court judgement against him that stays with him until he pays, dies or is discharged from bankruptcy. Ask your "friend" about that.

It was for 14k. He does not know if any CCJ's were issued as he has not been back to the UK for 6 years. I informed him he should not open a new HSBC account because even though he is in Southern Asia he will still be on the system. I think I am correct here?

I doubt that the connection will be there. Every country is a separate operation & being an individual,I doubt his details would be shared worldwide Re a loan default. Now if it's an organisation, I would say that would be a different matter.

I have a foreign HSBC account. when I approached BKK branch, had to start from scratch, didn't recognise my overseas one & was told different country different operation.

[Eff1n2ret]

Just from a common sense perspective, you would expect a bank like HSBC to keep a record of defaulters and to seek to enforce the debt as soon as the debtor has come to their attention. Why not just tell this friend of yours to go ahead and accept the job but then tell his new employer that he has received very poor customer service from HSBC in the past and doesn't want to open another account with them? I'm sure his employer can find an alternative way of paying him.

Maybe they can't. Someone told me recently that when he changed jobs he had to open an account with his new employer's bank, because that's the norm in Thailand. I'm sure he was telling the truth, but I don't know if it extends to all employers.

[MrRichard2009]

I guess opening the account and paying off the loan now that you have a job would be out of the question .......

[sbk]

post deleted. do we really have to flame in a thread about banking??? keep it civil guys. sheesh

[StreetCowboy]

How much was the loan? If it was for a large sum they probably would have got a County Court judgement against him that stays with him until he pays, dies or is discharged from bankruptcy. Ask your "friend" about that.

It was for 14k. He does not know if any CCJ's were issued as he has not been back to the UK for 6 years. I informed him he should not open a new HSBC account because even though he is in Southern Asia he will still be on the system. I think I am correct here?

I think he should pay the money he owes. THen he won't need to worry about it

SC

[cardholder]

How much was the loan? If it was for a large sum they probably would have got a County Court judgement against him that stays with him until he pays, dies or is discharged from bankruptcy. Ask your "friend" about that.

It was for 14k. He does not know if any CCJ's were issued as he has not been back to the UK for 6 years. I informed him he should not open a new HSBC account because even though he is in Southern Asia he will still be on the system. I think I am correct here?

Wrong.

If he opens the account with current employment and address details (and does not quote an address previously held by HSBC in the UK) it will be unconnected. He will 'simply' have to satisfy current account opening procedures including evidencing identification and address verification under Money Laundering Rules requirements.

The loan will have long-since been passed to debt collectors who will have been unsuccessful in contacting your friend.

[FarangBuddha]

How much was the loan? If it was for a large sum they probably would have got a County Court judgement against him that stays with him until he pays, dies or is discharged from bankruptcy. Ask your "friend" about that.

It was for 14k. He does not know if any CCJ's were issued as he has not been back to the UK for 6 years. I informed him he should not open a new HSBC account because even though he is in Southern Asia he will still be on the system. I think I am correct here?

I doubt that the connection will be there. Every country is a separate operation & being an individual,I doubt his details would be shared worldwide Re a loan default. Now if it's an organisation, I would say that would be a different matter.

I have a foreign HSBC account. when I approached BKK branch, had to start from scratch, didn't recognise my overseas one & was told different country different operation.

I completely agree...though the names are the same, the foreign banks operating in Thailand (and in any foreign jurisdiction) are legally separate entities from their "home" banks. They are set-up, operated, and regulated by the banking authorities in the foreign country in which they operate. Generally, their computer systems (as opposed to ATM networks) are not even liked together. [Example, if I go to Citibank's branch in Bangkok, a teller there cannot access and give me my account balance on a US based Citibank account. However, if I go to the ATM in the branch lobby, it can do so and give me money from the account as well.]

It is highly doubtful that HSBC Thailand has any record of any loan default on a HSBC UK loan. In addition, even if HSBC had a valid judgment against a UK client for non-payment of loan from HSBC UK, it would be next to impossible to collect that judgment in Thailand (or even take money out of a Thai HSBC account of the debtor if they had such an account, without a judgment, or validation of the UK court's judgment, from a Thai court. Believe me, just to get a UK solicitor to pick up and review the file would cost more than 15k pounds so they wouldn't even consider it.

[shedend]

How much was the loan? If it was for a large sum they probably would have got a County Court judgement against him that stays with him until he pays, dies or is discharged from bankruptcy. Ask your "friend" about that.

It was for 14k. He does not know if any CCJ's were issued as he has not been back to the UK for 6 years. I informed him he should not open a new HSBC account because even though he is in Southern Asia he will still be on the system. I think I am correct here?

I doubt that the connection will be there. Every country is a separate operation & being an individual,I doubt his details would be shared worldwide Re a loan default. Now if it's an organisation, I would say that would be a different matter.

I have a foreign HSBC account. when I approached BKK branch, had to start from scratch, didn't recognise my overseas one & was told different country different operation.

I completely agree...though the names are the same, the foreign banks operating in Thailand (and in any foreign jurisdiction) are legally separate entities from their "home" banks. They are set-up, operated, and regulated by the banking authorities in the foreign country in which they operate. Generally, their computer systems (as opposed to ATM networks) are not even liked together. [Example, if I go to Citibank's branch in Bangkok, a teller there cannot access and give me my account balance on a US based Citibank account. However, if I go to the ATM in the branch lobby, it can do so and give me money from the account as well.]

It is highly doubtful that HSBC Thailand has any record of any loan default on a HSBC UK loan. In addition, even if HSBC had a valid judgment against a UK client for non-payment of loan from HSBC UK, it would be next to impossible to collect that judgment in Thailand (or even take money out of a Thai HSBC account of the debtor if they had such an account, without a judgment, or validation of the UK court's judgment, from a Thai court. Believe me, just to get a UK solicitor to pick up and review the file would cost more than 15k pounds so they wouldn't even consider it.

Thanks everyone for your replies. I will certainly inform my friend regarding your comments. At the end of the day it is his choice what he does now.

[kopite]

How much was the loan? If it was for a large sum they probably would have got a County Court judgement against him that stays with him until he pays, dies or is discharged from bankruptcy. Ask your "friend" about that.

It was for 14k. He does not know if any CCJ's were issued as he has not been back to the UK for 6 years. I informed him he should not open a new HSBC account because even though he is in Southern Asia he will still be on the system. I think I am correct here?

I doubt that the connection will be there. Every country is a separate operation & being an individual,I doubt his details would be shared worldwide Re a loan default. Now if it's an organisation, I would say that would be a different matter.

I have a foreign HSBC account. when I approached BKK branch, had to start from scratch, didn't recognise my overseas one & was told different country different operation.

I completely agree...though the names are the same, the foreign banks operating in Thailand (and in any foreign jurisdiction) are legally separate entities from their "home" banks. They are set-up, operated, and regulated by the banking authorities in the foreign country in which they operate. Generally, their computer systems (as opposed to ATM networks) are not even liked together. [Example, if I go to Citibank's branch in Bangkok, a teller there cannot access and give me my account balance on a US based Citibank account. However, if I go to the ATM in the branch lobby, it can do so and give me money from the account as well.]

It is highly doubtful that HSBC Thailand has any record of any loan default on a HSBC UK loan. In addition, even if HSBC had a valid judgment against a UK client for non-payment of loan from HSBC UK, it would be next to impossible to collect that judgment in Thailand (or even take money out of a Thai HSBC account of the debtor if they had such an account, without a judgment, or validation of the UK court's judgment, from a Thai court. Believe me, just to get a UK solicitor to pick up and review the file would cost more than 15k pounds so they wouldn't even consider it.

until its posted on the biggest expat forum in thailand for all to see, including employees

[mallyrd]

I don't believe the number of people who seem to think its okay to have skipped on a debt. The cost of that debt is, and will be, paid for by other HSBC customers. Shame on your friend.

[shedend]

Update. Spoke to my friend and he has informed me he was informed the banks overseas in Asia are not linked with the UK banks (Separate entities). However if an Asian HSBC bank wants to check an individual out they can/will contact his home country HSBC.

This is what he was informed so I told him the botom line is come clean if you really want this job or take a chance-your decision. Thanks for all your replies and I know this is not correct what he has done but there are only a few friends in this world I can call real friends hence my support to try and help him out here.