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HSBC wil not give people their money back!

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  • henm2
    henm2 Posts: 723 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    retiredin2011 wrote: »
    If I wanted to buy a car from a private seller can you see the bank accepting a piece of paper stating that I need the money to pay for a car?

    In that example the only private sale that would get by HSBC's procedures is if the deal had been done via ebay and you showed HSBC the ebay paperwork.

    Large cash transactions in are also affected by HSBC's procedures.
  • Din85
    Din85 Posts: 145 Forumite
    A bit OTT i think...
  • Hominu
    Hominu Posts: 1,671 Forumite
    It gets worse, I visited a HSBC branch in Staffordshire yesterday to see what I needed in order to make a CHAPS payment to my solicitor in the next couple of weeks. They said I would need a letter from the solicitors on letter headed paper with the amount on and their bank details along with two forms of id. They'll then charge £30 for the service.

    Meanwhile Nationwide said I could do the CHAPS payment online from within online banking and it's £25.

    I think I'll be doing the later considering I have an account with both banks!
  • anotheruser
    anotheruser Posts: 3,485 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper I've been Money Tipped!
    Needs merging with: http://forums.moneysavingexpert.com/showpost.php?p=64341013&postcount=7

    If you ask to close the account, I am sure they would give you all your money then.
  • pimento
    pimento Posts: 6,243 Forumite
    Part of the Furniture 1,000 Posts
    J_i_m wrote: »
    What I'm trying to say is that the policy isn't necessarily at fault. It's how the staff put it into action.

    Maybe some customers have been unlucky to come up against a poorly informed member of staff, maybe one who lacks tact as well.

    However, personally even considering the inconvenience I would take some comfort in the fact that the bank were in fact taking security seriously.

    If I managed to walk out of the bank with significantly large sums of cash with minimal security procedures to pass, it wouldn't take me long to fear how vulnerable the security was.

    It's simply my opinion, you many not share it. Maybe there isn't the need to "pooh pooh" it. ;)

    Yebbut, if you can prove who you are to the satisfaction of the cashier by means of photo ID and a signature, I don't see why they should then refuse to let you have as much cash as you require.
    It's not identification that I have a problem with, it's having to explain to Auntie Midland what I'm going to spend my pocket money on.
    "If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    HSBC are the simply the worst of all the UK banks.

    Since I hold accounts with them (for the sole purpose of their Reg Saver), I am on their mailing list. I have just received an email from them tonight, entitled "punter xyz, top financial tips for 2014". It is full of totally meaningless stuff and fluffy marketing rubbish, and completely misses the opportunity to mention their new policy. Not to talk about an apology that some of their staff had misunderstood the policy blah blah, and/or an explanation of what their policy actually is.
  • ALIBOBSY
    ALIBOBSY Posts: 4,527 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    BobQ wrote: »
    http://www.bbc.co.uk/news/business-25861717

    So HSBC will not let their customers draw out their own cash without a reason.


    Whilst I agree the policy seems crazy I am still amazed at the number of people who don't know that if you pay cash into a bank legally it ceases to be YOUR cash and becomes the banks asset. In law you are in fact classed as an unsecured creditor.

    I have seen various posts on here and other forums suggesting other banks are also making it harder to draw cash over counters or limiting withdrawal amounts.

    Ali x
    "Overthinking every little thing
    Acknowledge the bell you cant unring"

  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ALIBOBSY wrote: »
    .

    I have seen various posts on here and other forums suggesting other banks are also making it harder to draw cash over counters or limiting withdrawal amounts.
    Have you got links for that, please?
  • Hominu
    Hominu Posts: 1,671 Forumite
    anotheruser wrote: »
    If you ask to close the account, I am sure they would give you all your money then.

    Yes, as a cheque, but not as cash.
  • aldredd
    aldredd Posts: 925 Forumite
    henm2 wrote: »
    Large cash transactions in are also affected by HSBC's procedures.

    I would imagine this is more to comply with money laundering regulations.
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