HSBC bank

Satoshi

"IF YOU DON'T HAVE IT IN YOUR HAND, YOU DON'T OWN IT"!

http://www.youtube.com/watch?v=LZApzOqjf0s

BBC reports that some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it..
HSBC admitted it has not informed customers of the change in policy, which was implemented in November for their own good: "We ask our customers about the purpose of large cash withdrawals when they are unusual... the reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime." As one customer responded: "you shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours"..
From BBC:
Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt..

alanq

There are existing discussions on the Budgeting And Bank Accounts board.

In one I posted the following which seems to contradict HSBC's position as stated in your post.

alanq wrote: »

Discussed on today's BBC Radio 4 Moneybox programme.
http://www.bbc.co.uk/iplayer/episode/b03s645z/Money_Box_25_01_2014/

Item starts near beginning of the programme and ends with "On Friday evening HSBC told us it was never its intention that customers should be prevented from withdrawing cash because they couldn't prove what it was being used for. It said that it was immediately updating its guidance to staff and apologised to the customers affected".

Emperor2014

Posted in another threAD.

innovate

Very unhelpful thread title.

dryhat

PsychoBob

That's why Bitcoins are becoming popular. Need to get money out of the system.

Glen_Clark

innovate wrote: »

Very unhelpful thread title.

Absolutely.
This is the daftest thread I have seen
The thread title is irresponsible and stupid.
The you tube link quoted is nothing to do with it.
I have heard of gullible people being taken to the bank by con men to withdraw large sums of money. If this is an attempt by HSBC to stop that then all credit to them.

pat_cashmoney

Satoshi wrote: »

HSBC admitted it has not informed customers of the change in policy, which was implemented in November for their own good: "We ask our customers about the purpose of large cash withdrawals when they are unusual... the reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime."

weird, they didn't seem that fussed about financial crime a couple of years back

http://www.theguardian.com/business/2012/jul/17/hsbc-executive-resigns-senate

opinions4u

innovate wrote: »

Very unhelpful thread title.

You'd have thought the MSE police would have banned the poster and deleted the thread for that by now. Although that's usally reserved for "tone" of post if somebody gets a bit upset at being asked a challenging question about how they manage their money.

Seriously irresponsible.