hsbc 'Safeguard' letter

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  • Chris_Woodman
    Chris_Woodman Posts: 3 Newbie
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    I've just had an almost identical request from M&S Bank - the same documentation requested, everything - except that in my case it is specifically aimed at my wife who is a named second card holder, not at me. We don't have a current account with them - just a Mastercard.

    There must be some central body who is laying down these requirements. M&S are just as cagey as HSBC. They just won't own up to why they're doing it. I don't need my M&S card. I can manage perfectly well with other cards from banks who are more sensible about this. If they would only say that it's due to some US requirement I would have some sympathy but they don't. IT doesn't particularly surprise me - M&S are amazingly wooden when it comes to handling legal requirements, e.g. on data protection where their staff are just not briefed about common sense.
  • sheramber
    sheramber Posts: 19,131 Forumite
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    Chris_Woodman wrote: »
    I've just had an almost identical request from M&S Bank - the same documentation requested, everything - except that in my case it is specifically aimed at my wife who is a named second card holder, not at me. We don't have a current account with them - just a Mastercard.

    There must be some central body who is laying down these requirements. M&S are just as cagey as HSBC. They just won't own up to why they're doing it. I don't need my M&S card. I can manage perfectly well with other cards from banks who are more sensible about this. If they would only say that it's due to some US requirement I would have some sympathy but they don't. IT doesn't particularly surprise me - M&S are amazingly wooden when it comes to handling legal requirements, e.g. on data protection where their staff are just not briefed about common sense.

    Spot the connection

    Marks & Spencer Financial Services plc, trading as M&S Bank, is a retail bank operating in the United Kingdom. Wikipedia
    CEO: Sue Fox (Mar 2014–)
    Headquarters: Chester
    Founded: 1985
    Parent organizations: HSBC Bank, HSBC
  • Chris_Woodman
    Chris_Woodman Posts: 3 Newbie
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    Crikey. Well spotted. So M&S Financial Services aren't part of M&S at all. Amazing how they've got away with that and hidden it from your average punter. Thanks very much for the info.
    Chris
  • Zanderman
    Zanderman Posts: 4,684 Forumite
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    Chris_Woodman wrote: »
    Crikey. Well spotted. So M&S Financial Services aren't part of M&S at all. Amazing how they've got away with that and hidden it from your average punter. Thanks very much for the info.
    Chris

    I don't think they are hiding it - it's easy to find out that M&S Bank is a part of HSBC, and I don't see that they want to hide it. What are they getting away with? Does it make a difference?

    But getting back to your problem, which must be very frustrating, there's a very similar story on the Guardian's Consumer pages today - in the print edition but not yet available online as far as i can see. I'll post a link to it when they get it online as it's worth seeing the advice given there..
  • Chris_Woodman
    Chris_Woodman Posts: 3 Newbie
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    Many thanks. I look forward to seeing that.

    It's just that M&S try to make out they're something special, for example their food's very good, but it turns out their banking is just a rebadged bog-standard clearing bank. I suppose I should have realised.
  • GingerBob_3
    GingerBob_3 Posts: 3,659 Forumite
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    The secondary cardholder has no relationship with the bank, so why should the bank require this sort of documentation? Why should they have the detailed personal information about someone who isn't even a customer? This HSBC outfit are treading on thin ice with this one. I suggest they are reported to the ICO for this outrageous demand which drives a coach and horses through data protection protocols - stupid as these protocols tend to be in the UK. Refuse point blank to send them the documents. In fact, roll up the letter and send it back to them with suitable instructions as to what they should do with it.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    Chris_Woodman wrote: »
    Many thanks. I look forward to seeing that.

    It's just that M&S try to make out they're something special, for example their food's very good, but it turns out their banking is just a rebadged bog-standard clearing bank. I suppose I should have realised.

    Nothing wrong with it.

    Tesco bank is most likely run by another bank, Sainsbury's Bank/Credit card will be the same.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    DCFC79 wrote: »
    Tesco bank is most likely run by another bank, Sainsbury's Bank/Credit card will be the same.
    No, and no. :)
  • GingerFurball_2
    GingerFurball_2 Posts: 990 Forumite
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    DCFC79 wrote: »
    Nothing wrong with it.

    Tesco bank is most likely run by another bank, Sainsbury's Bank/Credit card will be the same.

    Sainsbury's was a joint venture with the Bank of Scotland but they bought out BoS's 50% stake almost 3 years ago.

    Pretty sure it's the same deal for Tesco and their relationship with RBS.
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  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    GingerFurball wrote: »
    Pretty sure it's the same deal for Tesco and their relationship with RBS.
    100% Tesco owned since 2008.
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