Economy
Related: About this forumHSBC (Britain's largest bank) Restricts Large Cash Withdrawals
The 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."
the article goes on to say that the bank claims this is an effort to prevent "financial crime"....
In truth, the bank has been charged with having 80 billion shortfall, in a report of last week.
"Large cash withdrawals" =3,000 pounds or more.
The Latest HSBC Scandal: An $80 Billion Capitalization Shortfall
Response to dixiegrrrrl (Original post)
Kelvin Mace This message was self-deleted by its author.
Warren Stupidity
(48,181 posts)dixiegrrrrl
(60,010 posts)Remember the bail-in?
Ghost Dog
(16,881 posts)Try them. Hang them (after they've returned our capital)..
... You mean, Cyprus, right, dixiegrrrrl? (We are well advised to leave La Corse well alone...)
dixiegrrrrl
(60,010 posts)Yes, Cyprus..
wonder what I was thinking????
Ghost Dog
(16,881 posts)But... Watch the Yakusi in Japan ...
Demeter
(85,373 posts)Hang onto your hats. The astrologer says April. Since it was called the Cruelest Month by TS Elliott, I believe her.
dixiegrrrrl
(60,010 posts)Congress critters will all be standing around with dumb faces..
"no one could have forseeeeeeeeeen...."
Demeter
(85,373 posts)to hear what Rubin, Bernanke, Geithner and Lagarde and the rest have to say for themselves.
adirondacker
(2,921 posts)dixiegrrrrl
(60,010 posts)LaGard...last I heard she was being investigated for some malfeance or the other.
adirondacker
(2,921 posts)Instead, I have at least a 20 year work schedule to attend to if I want to retire at 70.