hsbc 'Safeguard' letter
Comments
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Why not let the poor guy/lady find that out for themselves and get a shock when due to being stubborn the bank account gets restricted.
Would love to be able to hear the conversation that went on.
Lol ! And how DARE HSBC call the OP when they were in a "busy store" ? :rotfl: It always makes me laugh when i call someone and they say it's not convenient to talk. If you're too busy to talk, why answer the phone ?0 -
Can't speak for others but if I'm really uninterruptibly busy (in meetings, etc) then I won't answer but if I'm in a less formal conversation or somewhere public/noisy (for example) I'll often answer just to let the caller know that I'll be free in x hours/minutes and/or that I'll call them back, which seems a reasonable and courteous approach to me and not one that I've ever considered might cause any amusement!It always makes me laugh when i call someone and they say it's not convenient to talk. If you're too busy to talk, why answer the phone ?0 -
Thank you to those who have clarified why this is happening - I'm really glad I found this thread. It's useful to know that some accounts are getting closed.
As an expat it's been pretty stressful dealing with this, not that I mind giving the info, but twice I couriered the forms to my branch as requested and twice they just sent me another form with no acknowledgment. Finally it was resolved and then I get another slightly different form. To be fair they have twice paid me £50 after my complaints, but it's been stressful as I've felt like they've got me listed as suspicious. Reading this thread has helped me get some perspective.0 -
Thank you to those who have clarified why this is happening - I'm really glad I found this thread. It's useful to know that some accounts are getting closed.
As an expat it's been pretty stressful dealing with this, not that I mind giving the info, but twice I couriered the forms to my branch as requested and twice they just sent me another form with no acknowledgment. Finally it was resolved and then I get another slightly different form. To be fair they have twice paid me £50 after my complaints, but it's been stressful as I've felt like they've got me listed as suspicious. Reading this thread has helped me get some perspective.
As an expat then you are relatively suspicious compared to many customers, just a fact of your situation.
HSBC are also a very officious and not very well organised institution, when you add the us fines for poor account management on top then they've take a more robust approach to customers than many other uk financial institutions.0 -
I find HSBC's latest behaviour deplorable. Their actions may be initiated by the FCA but their attitude is entirely down to them. How dare they demand information like this from people ("clients") such as myself who have held blameless accounts with them for over 40 years? How dare they imply that if I don't agree to their ultimate that certain privileges may be withdrawn? They have no privileges. The money they hold is mine, not theirs. We haven't had this from the other bank we use.
Goodbye HSBC0 -
Byebyehsbc wrote: »I find HSBC's latest behaviour deplorable. Their actions may be initiated by the FCA but their attitude is entirely down to them. How dare they demand information like this from people ("clients") such as myself who have held blameless accounts with them for over 40 years? How dare they imply that if I don't agree to their ultimate that certain privileges may be withdrawn? They have no privileges. The money they hold is mine, not theirs. We haven't had this from the other bank we use.
Goodbye HSBC
This is the right approach. Reading about what 's going on with HSBC they are getting way above their station, and to imply you are privileged to be able to bank with them takes the biscuit. The more people vote with their feet the better. They may eventually get the message.0 -
Byebyehsbc wrote: »I find HSBC's latest behaviour deplorable. Their actions may be initiated by the FCA but their attitude is entirely down to them. How dare they demand information like this from people ("clients") such as myself who have held blameless accounts with them for over 40 years? How dare they imply that if I don't agree to their ultimate that certain privileges may be withdrawn? They have no privileges. The money they hold is mine, not theirs. We haven't had this from the other bank we use.
Goodbye HSBC
I think you'll find that they hold all the cards. They're running a business, they call the shots, you either comply or leave. Tough if you don't have another account, but if you disagree with their requests they won't worry if you leave them. They've been fined a huge amount of money for not keeping their books in order, they're not likely to allow it to happen again. I think your reaction is a bit OTT though.0 -
I think you'll find that they hold all the cards. They're running a business, they call the shots, you either comply or leave. Tough if you don't have another account, but if you disagree with their requests they won't worry if you leave them. They've been fined a huge amount of money for not keeping their books in order, they're not likely to allow it to happen again. I think your reaction is a bit OTT though.
On the contrary, the customers hold all the cards. Without customers the retail banking arm of HSBC would cease to exist. The customers call the shots. If HSBC starts f... them about (as they are doing) they'll leave if they've any sense. "They won't worry if you leave them". You're right, unfortunately. It's a sign of a business that got out of hand and too big for its boots.0 -
On the contrary, the customers hold all the cards. Without customers the retail banking arm of HSBC would cease to exist. The customers call the shots. If HSBC starts f... them about (as they are doing) they'll leave if they've any sense. "They won't worry if you leave them". You're right, unfortunately. It's a sign of a business that got out of hand and too big for its boots.
They won't lose all the customers though, and it depends which leave as to whether they will suffer financially.
I've got current accounts with around ten financial institutions as well as numerous products elsewhere. Like many in these boards I'm a night mare as a customer because I don't actually make them any money, so would be better gone. I'm not someone who'll buy an expensive loan, mortgage, won't take insurances or packaged bank accounts, won't pay interest in credit card balances, won't use their expensive investments services etc etc
I'm happy enough to play the game as it stands, if one or more of the providers doesn't want me, or indeed makes their offering less attractive then I accept that and move on.
Large companies are very poor at managing their returns often, in my case I'm a low risk but I'm not earning them anything.
Similarly we have three supermarkets within a mile or two, which we go to tends to be based on which has sent out the best voucher deals and offers on a weekly basis.
Brand loyalty is, or certainly should be, dead, and it was never really justified.
Look at the offerings available, choose the best for your personal circumstances, and if a business doesn't want to transact with you then just use the next one along, there's certainly no shortage of banking brands available in the uk.0 -
On the contrary, the customers hold all the cards. Without customers the retail banking arm of HSBC would cease to exist. The customers call the shots. If HSBC starts f... them about (as they are doing) they'll leave if they've any sense. "They won't worry if you leave them". You're right, unfortunately. It's a sign of a business that got out of hand and too big for its boots.
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.0
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