hsbc 'Safeguard' letter
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The business offering the service holds the cards, they call the shots. Why shouldn't they ? I don't think HSBC is going to fold because a few customers refuse to send ID documents. The majority will comply with this request, i can't see any reason not to, it's not difficult.
In reality losing a few thousand customers in the uk, many of whom will be marginally profitable, is a small price to pay when you've just been caught for a few billion by the us regulator.0 -
The business offering the service holds the cards, they call the shots. Why shouldn't they ? I don't think HSBC is going to fold because a few customers refuse to send ID documents. The majority will comply with this request, i can't see any reason not to, it's not difficult.
But it isn't just ID documents they are asking for is it?0 -
But it isn't just ID documents they are asking for is it?
It doesnt matter what they ask for does it ? If you want to bank with them and they ask for a sample of your DNA and your inside leg measurement or they'll close your account, thats their business. You make a choice, give them what they ask or risk having your account closed. Other businesses have their requirements, why can't banks ? Having a bank account isn't a right, there are lots of other banks to choose from.
And before you ask, yes, i do work for a bank. No it's not HSBC.Thought i'd pre-empt the next response
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It doesnt matter what they ask for does it ? If you want to bank with them and they ask for a sample of your DNA and your inside leg measurement or they'll close your account, thats their business. You make a choice, give them what they ask or risk having your account closed. Other businesses have their requirements, why can't banks ? Having a bank account isn't a right, there are lots of other banks to choose from.
And before you ask, yes, i do work for a bank. No it's not HSBC.Thought i'd pre-empt the next response
Yes, it isn't a right, but in this day and age it should be; the government is found wanting here.
HSBC are fast becoming the RyanAir of the banking sector - an organisation that treats its customers with contempt because it has so many of them and can therefore afford to do so.0 -
Yes, it isn't a right, but in this day and age it should be; the government is found wanting here.
Er... why? Why should it be a 'right' to hold a bank account with any particular bank?
What has 'this day and age' or indeed the government got to do wih it?
There's a very strange sense of entitlement in society these days!0 -
Er... why? Why should it be a 'right' to hold a bank account with any particular bank?
What has 'this day and age' or indeed the government got to do wih it?
There's a very strange sense of entitlement in society these days!
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.0 -
I agree totally with the last post - a bank account should be a right just like a utility.
Imagine if you were with NPower for your electricity and they sent you a 'safeguarding letter' asking for all sorts of information. You don't want to give it to them - fine, they can cut off your power - you can always go elsewhere. Or even worse, you give it to them and they claim not to have received it or they did receive it but it didn't answer their questions or whatver.
Supposing they all did this and refused to have you as a customer. You would then be left unable to have electricity at your home for the rest of eternity.
There should be an absolute right for every person to have one bank account. How this would be implemented I don't know but clearly up to law makers0 -
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.0
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Yes, it isn't a right, but in this day and age it should be; the government is found wanting here.
HSBC are fast becoming the RyanAir of the banking sector - an organisation that treats its customers with contempt because it has so many of them and can therefore afford to do so.
Why are they treating people with contempt ?0
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