Posted on 01/25/2014 4:29:20 PM PST by Kartographer
HSBC is imposing restrictions on large cash withdrawals raising a number of red flags. 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.”
“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, we’ll 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.
(Excerpt) Read more at shtfplan.com ...
Preppers PING!!
Panama had a 2013 bank day for no withdrawals due to customers wanting their money.
Easier to tax it if its in the bank rather under you matress. ;-)
“Why do you want to withdraw the money?”
“For spite.”
The banking system is part of the gov’t. It’s their money and not yours. You didn’t build that.
The simple fact is the money isn’t there.
When will this come to America?
“What do you plan to do with this money?”
“Patronize an institution that remembers who’s the customer and who’s the servant, and knows how to mind their own business!”
My local Bank did that to me last summer when I tried to withdraw 4500 for a building project, to pay payroll. They told me that the limit was 3000 per request. I filled out two slips, one for 3k and one for 2k. They cashed each but I had to go out the door and come back in for the second. LOL ... I chuckled with the teller over the ridiculousness of such a policy.
Gee, is this HSBC (The Hongkong and Shanghai Banking Corporation)or the Anglo-Bengalee Disinterested Loan and Life Assurance Company?
BTW, the policy was garbled by the teller. I had initially tried to use the drive thru. The bank policy referred to the drive thru not the walk ins.
Isn’t that the same problem with the crash of 2008? September 14th or 15th, when there was a run on the banks, and they had to close the doors...the money just wasn’t there, at least not enough to handle that many customers.
Of course, all banks are only required to keep a certain percentage on hand, it used to be 12-14%, then the SEC gave five banks the go ahead at about half of that prior to the crash?? If my memory serves me right on the percentages??
Why do you think Homeland Security purchased all those bullets?
They know what is coming. And so do I.
Oh, if it only applied to the drive-thru, then it might have been because they wanted to limit the amount they risked getting stuck in the pneumatic tube thingy. Cause then they’re out $5K or whatever till they can tear the thing down and get the capsule back.
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because i am CHANGING where i do my banking.
Does everybody know what HSBC might stand for, so that it does not need to be clarified in any article?
“When will this come to America?”
Why would you care as you are in the Philippines. Oh, I guess your Social Security check from our country might stop. Many of we Americans have prepared for that. You, however, said preparing is an “iffy” thing to do.
Hongkong and Shanghai Banking Corporation
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