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Uk Banks
Mike_Kemp
Posts: 4 Newbie
Does anyone know whether UK banks dealing abroad under their UK brand name should have the same standards as in the UK?
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Comments
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hsbc are abroad as well hereReplies to posts are always welcome, If I have made a mistake in the post, I am human, tell me nicely and it will be corrected. If your reply cannot be nice, has an underlying issue, or you believe that you are God, please post in another forum. Thank you0
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They will be regulated locally, competing locally and gaining customers locally.
While this may mean that some of their UK ethos can be applied, ultimately I would see them for what they are in the market they play in.
Do banks in the UK have high standards?0 -
No, not in relation ot their customers in other countries. Local rules apply.
For example Abbey is owned by a Spanish bank but it applies UK rules to its UK customers. Likewise HSBC around the world will apply local rules.
If by around the world you mean a Crown Dependency or Commonwealth country, you may find some rules are similar because of history. If an EU country then each country has to follow EU rules.
Unless you mean 'should' in a moral, rather than legal sense.0 -
Like Barclays support Mugebe and getting stick in SOuth Africa in general!
Banks will go any place if they can make profit and save tax! They just play by the local rules or are very good at not getting caught breaking them!"Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00
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