Heres a short Bank problem where the banks dont dare to tell the facts when their customers want their (the customers) own money paid out as cash. The reason why the banks cant pay out is of course that the banks havent got the money. BANKS AND THE FINANCIAL SYSTEM AS SUCH CAN ONLY PRESENT 5% OF THE MONEY IN THE ECONOMY! The rest of the money are only bank balance sheet transactions (monkey money in real language), they dont exists in real life! Read the following and decide yourself where you want to keep your money: 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. Listeners have told Radio 4s Money Box they were stopped from withdrawing amounts ranging from £5,000 to £10,000. HSBC admitted it has not informed customers of the change in policy, which was implemented in November. The bank says it has now changed its guidance to staff. New rules Stephen Cotton went to his local HSBC branch this month to withdraw £7,000 from his instant access savings account to pay back a loan from his mother. A year before, he had withdrawn a larger sum in cash from HSBC without a problem. But this time it was different, as he told Money Box: When we presented them with the withdrawal slip, they declined to give us the money because we could not provide them with a satisfactory explanation for what the money was for. They wanted a letter from the person involved. Mr Cotton says the staff refused to tell him how much he could have: So I wrote out a few slips. I said, Can I have £5,000? They said no. I said, Can I have £4,000? They said no. And then I wrote one out for £3,000 and they said, OK, well give you that. He asked if he could return later that day to withdraw another £3,000, but he was told he could not do the same thing twice in one day. Continue reading the main story “ Start Quote As this was not a change to the Terms and Conditions of your bank account we had no need to pre-notify customers of the change” HSBC customer letter He wrote to complain to HSBC about the new rules and also that he had not been informed of any change. The bank said it did not have to tell him. As this was not a change to the Terms and Conditions of your bank account, we had no need to pre-notify customers of the change, HSBC wrote. Frustrated customers Mr Cotton cannot understand HSBCs attitude: Ive been banking in that bank for 28 years. They all know me in there. You shouldnt have to explain to your bank why you want that money. Its not theirs, its yours. Peter from Wiltshire, who wanted his surname withheld, had a similar experience. He wanted to take out £10 000 cash from HSBC, some to pay to his sons and some to fund his long-haul travel plans. Peter phoned up the day before to give HSBC notice and everything seemed to be fine. The next day he got a call from his local branch asking him to pay his sons via a bank payment and to provide booking receipts for his holidays. Peter did not have any booking receipts to show. The following day he spoke to HSBC again and this time, having examined his account, it said he could withdraw the £10,000. Belinda Bell is another customer who was initially denied her cash, in her case to pay her builder. She told Money Box she had to provide the builders quote.
Posted on: Sun, 26 Jan 2014 05:22:50 +0000
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