hsbc 'Safeguard' letter

tenchy

meer53 wrote: »

Why are they treating people with contempt ?

Good question. Maybe it's a management thing, like Ryanair. Other than that I don't know. One thing's for sure, they will lose more customers than they gain as a result of it.

tenchy

bigadaj wrote: »

There is an absolute right to a basic bank account, though again if you aren't going to supply the bank with their required information you won't be able to transact with them and will have to find another supplier of banking services.

Maybe not. Check this from HSBC:


https://www.hsbc.co.uk/1/2/current-accounts/basic-bank-account



and especially the 'Are you eligible' link and the subsequent 'credit register search' link. Seems like you can be declined.

Zanderman

tenchy wrote: »

Simple, because these days (in this day and age) it's almost impossible, or at best very difficult, to run your life without access to a bank account. Provision of banking facilities should be brought in line with provision of utilities where, unless you don't pay the charges, you can't be disconnected. And even if you don't pay they can't close your account. To bring the banks in line would require legislation - hence government involvement.

You were arguing that you had a right to an account with HSBC without them asking things that you don't feel like telling them.

You are now arguing for any bank account. That is a different argument.

Edited to add: And as for Government intervention, it's government legislation that has led to HSBC asking the questions. The government has rules to guard against money laundering. HSBC is following those rules in the way it thinks best. So it is, in effect, government that is causing the angst you have. You may think you want government intervention, but you need to be careful what you wish for!!

tenchy

Zanderman wrote: »

You were arguing that you had a right to an account with HSBC without them asking things that you don't feel like telling them.

You are now arguing for any bank account. That is a different argument.

Edited to add: And as for Government intervention, it's government legislation that has led to HSBC asking the questions. The government has rules to guard against money laundering. HSBC is following those rules in the way it thinks best. So it is, in effect, government that is causing the angst you have. You may think you want government intervention, but you need to be careful what you wish for!!

I wasn't. My proposition is that everyone resident in the UK should be entitled to a basic bank account, which could not then be closed, except perhaps in the event of PROVEN (i.e. conviction) RELEVANT (e.g. money laundering) crime involving the account.

bigadaj

tenchy wrote: »

Maybe not. Check this from HSBC:


https://www.hsbc.co.uk/1/2/current-accounts/basic-bank-account



and especially the 'Are you eligible' link and the subsequent 'credit register search' link. Seems like you can be declined.

Of course you can be declined.

Being declined will typically be as a result of an issue that the applicant has created themselves, issues around cifas markers, defaults and poor use of credit.

It can be a catch all but ultimately the banks aren't going to guarantee supplying an account to people who abuse the system, that's just common sense.

meer53

tenchy wrote: »

I wasn't. My proposition is that everyone resident in the UK should be entitled to a basic bank account, which could not then be closed, except perhaps in the event of PROVEN (i.e. conviction) RELEVANT (e.g. money laundering) crime involving the account.

So what you say is that a bank should provide an account for anyone. Without verifying their identity or their address ? This is what HSBC did to get them in trouble in the first place and led to their recent requests for information. Everyone in the UK can have a bank account, as long as you meet the criteria, how do you propose to open an account for everyone without some checks ? Your idea is completely unworkable. Which is why it has never happened.

mt99

Your electricity company can't cut you off - you can have as many cfas markers against you as you want but you will still be provided with the electricity Gas water and air.

There should be the same entitlement to a bank account. you should be allowed to have a bank account pretty much no matter what you do of course you don't have to be offered an overdraft, interest, advice on where to invest your money, a debit card, a chequebook or anything else however you should be allowed as a basic human right to have an account into which you can receive money and pay your gas bill

eastcorkram

I've had HSBC accounts for about ten years. I've never been contacted about this safeguard thing.
Is the question about where you work, the only thing that some people are unhappy with? Or is there more to it than that?
If they do contact me, then I've no issues with that question.

meer53

"be provided with the electricity Gas water and air."

I'm not paying for air, are you ?

mt99

Yes 33p a litre that's why I joined this forum to see if I can find it cheaper elsewhere