http://www.bbc.co.uk/news/business-25861717 HSBC customer letter He wrote to complain to HSBC about the new rules and also that he had not been informed of any change. The bank said it did not have to tell him. "As this was not a change to the Terms and Conditions of your bank account, we had no need to pre-notify customers of the change," HSBC wrote. Frustrated customersMr Cotton cannot understand HSBC's attitude: "I've been banking in that bank for 28 years. They all know me in there. You shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours." Peter from Wiltshire, who wanted his surname withheld, had a similar experience. He wanted to take out £10 000 cash from HSBC, some to pay to his sons and some to fund his long-haul travel plans. Peter phoned up the day before to give HSBC notice and everything seemed to be fine. The next day he got a call from his local branch asking him to pay his sons via a bank payment and to provide booking receipts for his holidays. Peter did not have any booking receipts to show. The following day he spoke to HSBC again and this time, having examined his account, it said he could withdraw the £10,000. Belinda Bell is another customer who was initially denied her cash, in her case to pay her builder. She told Money Box she had to provide the builder's quote. Customer protectionHSBC has said that following customer feedback, it was changing its policy: "We ask our customers about the purpose of large cash withdrawals when they are unusual and out of keeping with the normal running of their account. Since last November, in some instances we may have also asked these customers to show us evidence of what the cash is required for." "The reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime. However, following feedback, we are immediately updating guidance to our customer facing staff to reiterate that it is not mandatory for customers to provide documentary evidence for large cash withdrawals, and on its own, failure to show evidence is not a reason to refuse a withdrawal. We are writing to apologise to any customer who has been given incorrect information and inconvenienced." Continue reading the main story\t“Start Quote<blockquote>In a sense your money becomes pocket money and the bank becomes your parent†</blockquote>Douglas CarswellMP for Clacton Money Box asked other banks what their policy is on large cash withdrawals. They all said they reserved the right to ask questions about large cash withdrawals. But none of them said they would require evidence of what the money was being used for before paying out. Douglas Carswell, the Conservative MP for Clacton, is alarmed by the new HSBC policy: "All these regulations which have been imposed on banks allow enormous interpretation. It basically infantilises the customer. In a sense your money becomes pocket money and the bank becomes your parent." But Eric Leenders, head of retail at the British Bankers Association, said banks were sensible to ask questions of their customers: "I can understand it's frustrating for customers. But if you are making the occasional large cash withdrawal, the bank wants to make sure it's the right way to make the payment." </blockquote>
I just would not do business with that bank. Why wold I give them my money if they won't let me takemitnback?????
Just gotta leave the bank. Pretty fucking weird though. They have absolutely no right to tell you what you can do with your money.
They don't have the majority of the money (fractional reserve banking counterfeit) and are too busy laundering it for the drug cartels.
I don't understand why more people don't switch to their local credit unions amid the ongoing bank scandals taking place. relevant: \tHSBC faces £70bn capital hole, warn Hong Kong analysts
Ummmm..... the money belongs to them. They can withdraw however much they fucking want Sent from my LG-E739 using Grasscity Forum mobile app
Qft Banking is one of the biggest threats to society. Sent from my LG-E739 using Grasscity Forum mobile app
sounds like they predetermined the interest they would make off of it and dont want to give it back...every day is more money in their pocket
"The reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime. However, following feedback, we are immediately updating guidance to our customer facing staff to reiterate that it is not mandatory for customers to provide documentary evidence for large cash withdrawals, and on its own, failure to show evidence is not a reason to refuse a withdrawal." 1. They should of used the phrase "financial terrorism" instead of "financial crime"...that seems to get people to roll over. 2. Are they saying that the "customer facing staff" will still ask for "evidence"? And, even then, can pull other excuses out their asses to deny "customers" their money? 3. Has anyone heard of a push to change a "customer at a bank" to an "investor at a bank" so that banks will owe you money but it isn't your money once you deposit it?
I could not agree more. Fraudulent banking redistributes massive amounts of wealth, creates global market instability, funds wars and terrorism and drug rings, and makes billionaires out of people who provide an practically no benefit and MASSIVE risk to society. Fractional reserve banking and our global system of centralized banking is a massive plight on humanity and will literally collapse our global economy within five years (that number is very conservative/generous). I think that if enough of civilization understands the scams that bankers have been pushing on society for thousands of years and works with new technologies to prevent it (or make those fraudulent activities impossible), we can effectively create a new system of banking and wealth distribution that benefits humanity and not just predatory individuals working within the banking system. http://youtu.be/CDGgT0L_SCw
I use a local credit union and only poor money in there when I need to use my card to buy shit online or pay a bill.
Remember around summer time banks in one country closed and eventually keep everyone's money................