At HSBC, we’re here to provide you with information about how disputes amongst partners/directors/officers may affect your banking arrangements and what to think about when you’re reviewing your finances.
Please note that we can only give general information here, so do speak to us if you need more detail about any financial arrangements you have with HSBC.
If you and your partners/directors/officers are in dispute, your business finances may be affected by the change in your circumstances.
If you have any concerns regarding access to or use of an account, speak to us to discuss what options are available to you, such as freezing the account.
Freezing an account should be given very careful consideration. On the one hand it may protect your position while you sort out your finances with your business partners/directors/officers. On the other hand, any important regular payments such as employee salaries or supplier payments may be affected.
Usually, once an account is frozen all account holders will need to agree to any further payments, withdrawals or transfers from the account.
It is important to try and agree with your business partners/directors/officers how you will continue to meet any loan payments. If you think that you may have difficulty in meeting your monthly loan payments you should speak to us at the earliest opportunity as we can often work with you to agree a suitable solution.
If the dispute is unlikely to be resolved in the short term you may want to consider seeking external guidance to aid you in coming to a resolution from professionals such as solicitors.
If you’d like to discuss this topic further please Contact Us
If you need support with your personal banking, click here
