Some questions about LHV

[onlinebizguy]

Hi all

I found this forum in a panic and have been reading all weekend some amazing advice here

Background: We run a number of online membership sites, all clean all lovely and friendly UK traffic UK customers all loverly.

The problem is HSBC, out of the blue, froze a biz account 7 figure due to a normal and legit transaction. We have other accounts, so not deadly but also with HSBC, so moving about the UK banking sector this week am confident it will be resolved annoying, but such is life.

The question I have is related to LHV. We bank with them also. We have a GOOD 7 figure on deposit with them again the biz is nice tech totally clean; I see here there considered a good bank, but they also bank a lot of EMIs, which are problematic. Our account is direct with the E citizen thing, and we had a meeting to open the account., How concerned should we be is that a safe amount to be in there, There a good bank expensive but good at everything to be fair I like them but just wanted some other opinions.

Just to add we are planning a top-end 6 figure transaction with them in a month or so. Which is a concern with what just happened at HSBC

 

[NicolasMaduro]

Depends on who you are sending the money to and why?

 

[onlinebizguy]

we are buying an office in the UK. So again totally legit transaction

 

[VESTANON]

Stick to whats work for now, though be on the lookout for similar banks with top notch services and reliabilty.

strong and previous history with a bank is always key an more advantageous over a new onboarded bank...do Try out Barclays Or STB...

previous History with HSBC and a reference from them could go along way, as per your current endeavours

 

[Martin Everson]

The problem is HSBC, out of the blue, froze a biz account 7 figure due to a normal and legit transaction.

The freezing is normal practice for HSBC and happens to a lot of people so wouldn't worry. Bank functions ok until you get a problem and then you find out its the Windows Vista of banking world unfortunately.

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How concerned should we be is that a safe amount to be in there,

Not too concerned but open a another business account elsewhere to be safe.

 

[onlinebizguy]

Not too concerned but open a another business account elsewhere to be safe.

Yes they're very very good so friendly in all my deals other than their prising which is high but again I do not mind as their service is spot on you have to pay for that

The freezing is normal practice for HSBC and happens to a lot of people so wouldn't worry. Bank functions ok until you get a problem and then you find out its the Windows Vista of banking world unfortunately.

Yes i have been reading them with utter horror that is what prompted me to find this forum then everyone in here is like losing accounts is part and parcel of biz and my mind melts haha but we are so clean and simple. We will nudge them with a solicitor in a few days i know it is pointless but may jump a queue if we are lucky

 

[NicolasMaduro]

If you are buying an office and have the sales agreement with the amount you have nothing to worry about

 

[onlinebizguy]

If you are buying an office and have the sales agreement with the amount you have nothing to worry about

100% i can't even express how boring and run of the mill worst thing about us online is some nutcase thought 4 mins hold time was too long during covid and posted about it, nice automated small-ish tech co in uk with only uk money.

worst thing about me is I want to punch the guy soooooooooo hard who complains about 4 mins when it is an online service costing pennys

 

[KDX]

100% i can't even express how boring and run of the mill worst thing about us online is some nutcase thought 4 mins hold time was too long during covid and posted about it, nice automated small-ish tech co in uk with only uk money.

worst thing about me is I want to punch the guy soooooooooo hard who complains about 4 mins when it is an online service costing pennys

Lol, here in Finland you wait 30-45 mins!

Even the ambulance/police take around 45 mins