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HSBC bankrupt and on the brink of collapse?

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JR8
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Postby JR8 » Tue, 28 Jan 2014 2:26 pm

And here it is.... look no further. They're inconveniencing the customer, simply to cover their own behinds...

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'A spokesman for HSBC, which in 2012 paid £1.25billion to settle money-laundering allegations in the US, said: ‘Since November, in some instances, we may have asked customers to show us evidence of what the cash is required for.'

http://www.dailymail.co.uk/news/article ... z2rfiF123Q
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zzm9980
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Postby zzm9980 » Tue, 28 Jan 2014 5:50 pm

ecureilx wrote:
JR8 wrote:....


Coincidentally, I went to a remittance center, to send some $ .. (Pay2xxx something )

me: I want to remit 1,500 $
she: oh, big amount, source of funds ?
me: my salary
she: you have pay slip ?
me: what ?
she: yes, must show source of fund or show bank statement
me: oh, never mind, I don't want to send anymore through YOUR agency ..

if they considered 1,500 $ as big money, I remembered that I know other legal remittances which allowed me to remit 3,000 $ without any question ..

The only time I was asked to sign some form was when I collected Inward remittance for my ex-boss, 20,000 $ .. that I agree, is being careful. Being an irritant for 1,500 $ ? well, thanks .. but no thanks..


Pay2Home? Yeah they like to do that. You can usually just tell them to f- off and send the money and they will. My wife did that in Vietnamese to the Vietnamese girl there.

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zzm9980
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Postby zzm9980 » Tue, 28 Jan 2014 5:51 pm

JR8 wrote:And here it is.... look no further. They're inconveniencing the customer, simply to cover their own behinds...

-----------------------
'A spokesman for HSBC, which in 2012 paid £1.25billion to settle money-laundering allegations in the US, said: ‘Since November, in some instances, we may have asked customers to show us evidence of what the cash is required for.'

http://www.dailymail.co.uk/news/article ... z2rfiF123Q
-----------------------


Just what I thought, US Big Brother and UK Little side kick :D

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ecureilx
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Postby ecureilx » Wed, 29 Jan 2014 9:18 am

zzm9980 wrote:Pay2Home? Yeah they like to do that. You can usually just tell them to f- off and send the money and they will. My wife did that in Vietnamese to the Vietnamese girl there.


I was a bit mad and called their CS, and the CS clarified that rule applies only if you bring a bundle of cash to the counter - as if guys here are going robbing banks and bringing bundles of money to immediately remit overseas ..

And if you use NETS, no such issue ..

zzm9980: I think HSBC is like do also damned, don't do also damned .. LOL

In view of their visibility in money laundering enforcement etc, they decided to go after the small time depositors ..

bro75
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Postby bro75 » Wed, 29 Jan 2014 10:36 am

4000 SGD is the cut-off where remittance centers in SG have to ask for proof of source of funds (a withdrawal slip from the bank will do). I believe it is required by MAS.

stuckmojo
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Postby stuckmojo » Wed, 29 Jan 2014 10:50 am

JR8 wrote:@
@StuckMojo
Seems ridiculous doesn’t it. ‘We need the cash as me and my mates are [cough] going on a business trip to Medellin, Columbia. Is that alright with you love?’


p.s. I see a parallel in UK Customs, where you have to declare if you’re carrying over euro10k equivalent in cash. There the questions are, where is the money from? What is the money intended for, where is the money next going? It’s almost like bringing a policy that currently exists at the borders, right onto the high street. But managing to cause confusion, uncertainty, and huge offence at the same time...


Exactly. I tried with the logic "it's MY money, I want it now." I threatened to close the account on the spot, which caused them to magically conjure the cash and hand it over.

Here, just yesterday HSBC asked me for 3 months past statements (HSBC statements) for a credit card application. I asked if we were playing role-reversal and if I had to ask them security questions to verify their identity.

Edit, oh, and in view of the recent money laundering stories, if they ask again, I'll say that the money is for a friend's association which operates cash-only in Mexico.

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ecureilx
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Postby ecureilx » Wed, 29 Jan 2014 10:55 am

bro75 wrote:4000 SGD is the cut-off where remittance centers in SG have to ask for proof of source of funds (a withdrawal slip from the bank will do). I believe it is required by MAS.


I see .. I thought it was higher, much higher .. like 10,000 $

For receiving, of course, now pretty much any receiving place asks you to sign a form + they photocopy your ID anyway ..


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