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HSBC discriminating against online gamblers?
daveshoelace
Posts: 114 Forumite
Hi all
The following was taken from a poker forum, from a professional poker player who has been told to take his business elsewhere by HSBC. I'll try and get more details but this is the initial post:
I play poker full time like many of you, I'm a steady winner but by no means huge amounts. I have been a HSBC customer for the last 10 or so years when I joined up in school. I have a few accounts with them, primarily my current account which i use to deposit/withdraw to the various poker sites. I recieved a letter a few weeks previous asking me to refrain from sending money to various organisations which were not named on the letter, i never got a clear answer from them as to who or why. I wake up this morning to 8 missed calls from the manager of my local branch explaining he has been asked to contact me as HSBC is no longer willing to offer the current products i have with them any longer, primarily because of the nature of the withdrawals to the account. He offers me a business banking account but strongly suggests I find 'alternative banking methods'. This can't be right, can it?
I spoke to the manager earlier and he insisted it wasn't his decision but came from account reviews or the like in London. He explained that the powers higher up were insistent that the transactions constituted a business but, as he is well aware, they are simply withdrawals from very well known sports books/ poker rooms.
That's true, but after 10 years of being a loyal customer and maintaining my account I srtruggle to see why they would want to push aside a customer who could bring them a fair amount of business in the future.
Obviously its up to HSBC who they accept and not, but I wonder why they would be so keen to dismiss someone who I presume has been a loyal and profitable customer. Does anyone know if HSBC or banks in general have some sort of issue with gamblers? (Queue a credit crunch joke btw)
The following was taken from a poker forum, from a professional poker player who has been told to take his business elsewhere by HSBC. I'll try and get more details but this is the initial post:
I play poker full time like many of you, I'm a steady winner but by no means huge amounts. I have been a HSBC customer for the last 10 or so years when I joined up in school. I have a few accounts with them, primarily my current account which i use to deposit/withdraw to the various poker sites. I recieved a letter a few weeks previous asking me to refrain from sending money to various organisations which were not named on the letter, i never got a clear answer from them as to who or why. I wake up this morning to 8 missed calls from the manager of my local branch explaining he has been asked to contact me as HSBC is no longer willing to offer the current products i have with them any longer, primarily because of the nature of the withdrawals to the account. He offers me a business banking account but strongly suggests I find 'alternative banking methods'. This can't be right, can it?
I spoke to the manager earlier and he insisted it wasn't his decision but came from account reviews or the like in London. He explained that the powers higher up were insistent that the transactions constituted a business but, as he is well aware, they are simply withdrawals from very well known sports books/ poker rooms.
That's true, but after 10 years of being a loyal customer and maintaining my account I srtruggle to see why they would want to push aside a customer who could bring them a fair amount of business in the future.
Obviously its up to HSBC who they accept and not, but I wonder why they would be so keen to dismiss someone who I presume has been a loyal and profitable customer. Does anyone know if HSBC or banks in general have some sort of issue with gamblers? (Queue a credit crunch joke btw)
0
Comments
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There is no discrimination. Small numbers of transactions are never going to be a problem. Frequent transactions are and suggest that you are making a living from this. Therefore a business account seems more logical than a retail personal account.
How many transactions a month are related to the gambling?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
daveshoelace wrote: »Hi all
The following was taken from a poker forum, from a professional poker player who has been told to take his business elsewhere by HSBC..........
Obviously its up to HSBC who they accept and not, but I wonder why they would be so keen to dismiss someone who I presume has been a loyal and profitable customer.
You answered your own question, with the first line of your post :rolleyes:0
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