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(BBC)   Customer: "Hi, I'd like to withdraw some money from my bank account please." Bank Teller: "Nope, unless you can tell us what it's for; and show us an itemized receipt or quote of expenses"   (bbc.co.uk) divider line 122
    More: Scary, HSBC, bank teller, bank accounts, cash withdrawals  
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18929 clicks; posted to Main » on 25 Jan 2014 at 12:11 PM (47 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-01-25 10:26:27 AM  
Customer: "I'll be closing my account please."
 
2014-01-25 10:46:34 AM  

Demetrius: Customer: "I'll be closing my account please."


This.
 
2014-01-25 10:47:29 AM  

Demetrius: Customer: "I'll be closing my account please."


It does seem pretty ridiculous. Putting a hold on a large and out of character debit purchase makes sense as a customer protection measure, but I can't see how preventing a withdrawal when the account holder is there in person with ID improves security.

If they're worried about people with fake IDs trying to access accounts they could just require customers to set up security questions that they'd have to answer in the event of a large out of character withdrawal.
 
2014-01-25 11:18:32 AM  
"You shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours."

LMAO if he really believes this.
 
2014-01-25 11:42:16 AM  
"You haven't heard? I want to get my money out before the bank run starts. You do still have some cash left, don't you?"

Preferably spoken loudly during peak business hours.
 
2014-01-25 11:46:32 AM  

TuteTibiImperes: If they're worried about people with fake IDs trying to access accounts they could just require customers to set up security questions that they'd have to answer in the event of a large out of character withdrawal.


My credit union does this
 
2014-01-25 12:13:41 PM  

Speaker2Animals: "You shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours."

LMAO if he really believes this.


He should believe this, because it's true.

The customer is allowed to close their account and take it elsewhere anytime they please.  More like "LMAO if the bank really believes this" (although it's 2014, so maybe not the LMAO part).

Just because you're willing to bend over and take it in the ass doesn't mean everyone else is.
 
2014-01-25 12:14:05 PM  
Simple solution withdraw 3000 a day until empty, tell the teller to let the rest of her staff to sod off.
 
2014-01-25 12:15:02 PM  

unlikely: TuteTibiImperes: If they're worried about people with fake IDs trying to access accounts they could just require customers to set up security questions that they'd have to answer in the event of a large out of character withdrawal.

My credit union does this


Lol
 
2014-01-25 12:16:25 PM  

Demetrius: Customer: "I'll be closing my account please."


This.
 
2014-01-25 12:17:04 PM  
"I can understand it's frustrating for customers. But if you are making the occasional large cash withdrawal, the bank wants to make sure it's the right way to make the payment."

How about fark you, it's my money, I can make payments any way I choose.
 
2014-01-25 12:17:16 PM  
Isn't this the bank that was laundering money for terrorists?
 
2014-01-25 12:17:37 PM  
I'm surprised banks in the US don't do this yet.

Mainly because attorneys have argued in court that if a bank doesn't try to stop Grandma from withdrawing her life savings and wiring it to her grandson in Costa Rica who got busted for DUI and lost his passport, well.....that's the banks fault and they need to reimburse Grandma.
 
2014-01-25 12:17:56 PM  
see, living paycheck-to-paycheck pays off! I knew it.

/who's laughing now.
 
2014-01-25 12:20:09 PM  

unlikely: TuteTibiImperes: If they're worried about people with fake IDs trying to access accounts they could just require customers to set up security questions that they'd have to answer in the event of a large out of character withdrawal.

My credit union does this


My bank (efirstbank.com) does this... if I want to do a really big transaction, I need to call ahead to the phone people so they can note in my account, and they require my password to authorize it. Originally it was a high amount, but I asked them to change it to 1,000... so if anyone tries any shenanigans without pre-authorizing, the bank both denies the transaction and calls my cell phone automatically.
 
2014-01-25 12:20:21 PM  

micah1701: see, living paycheck-to-paycheck pays off! I knew it.

/who's laughing now.


They couldn't hold back my negative balance if they tried.
 
2014-01-25 12:20:49 PM  

Ivo Shandor: "You haven't heard? I want to get my money out before the bank run starts. You do still have some cash left, don't you?"

Preferably spoken loudly during peak business hours.


This is the answer.

Bring a friend to say loudly "What do you mean the bank's insolvent?!"

/Simpsons did it
 
2014-01-25 12:20:56 PM  
Here is a deposit slip for my new bank, the one down the street. Written on that slip is the amount of money I have in your bank, that will now be put into their bank. I'd like that in singles, please.

Itemized enough for you, baitch?
 
2014-01-25 12:22:08 PM  

TuteTibiImperes: If they're worried about people with fake IDs trying to access accounts they could just require customers to set up security questions that they'd have to answer in the event of a large out of character withdrawal.


It seems likelier that they're worried of being accused of helping criminals launder money. Because HSBC has done that. A lot.

Clearly they've decided to protect themselves from further prosecution by restricting their money-laundering services to the few clients who have millions or billions of ill-gotten gains, and making a big show of being a pain in the ass to small-time criminals and, uh, . . . what do they call people who get their money honestly? "Saps", I suppose.

/ "chumps"?
 
2014-01-25 12:23:20 PM  

mccallcl: Isn't this the bank that was laundering money for terrorists?


The one we foolishly let off the hook with a light slap to the wrist? Yes.
 
2014-01-25 12:24:55 PM  
I need the money to pay your wife for last night. By the way you will want to have her use it to get her checked out.I need the rest of it to open an account at your competitors bank. Why you ask?
 
2014-01-25 12:25:11 PM  

italie: Here is a deposit slip for my new bank, the one down the street. Written on that slip is the amount of money I have in your bank, that will now be put into their bank. I'd like that in singles, please.

Itemized enough for you, baitch?


Itemize away, if the bank loses too many customers, they'll just collect bailout money from your taxes or quantitative easing programs.

/welfare for the rich
 
2014-01-25 12:25:11 PM  

Demetrius: Customer: "I'll be closing my account please."


Came here to say this.

mccallcl: Isn't this the bank that was laundering money for terrorists?


Apparently it was for mexican drug cartels.
 
2014-01-25 12:25:34 PM  
When I worked as a Teller (at HSBC, actually) we had to fill out paperwork which we just referred to as the "Large Dollar" form when someone took out cash over a certain number or a bank check over a certain dollar amount. We needed ID, SS# and I think a reason for the withdrawal. We would never deny the withdrawal though, unless they refused to fill out the paperwork.

I wish I could remember the details (it's been over a decade) but I want to say it was over $5k in cash or $10k in a bank check. It was a federal law, not a bank one, and was intended to keep tabs on possible money laundering or something...

Fark. I remember so little of it this post is probably useless... sorry.
 
2014-01-25 12:26:15 PM  

IanMoone: I'm surprised banks in the US don't do this yet.

Mainly because attorneys have argued in court that if a bank doesn't try to stop Grandma from withdrawing her life savings and wiring it to her grandson in Costa Rica who got busted for DUI and lost his passport, well.....that's the banks fault and they need to reimburse Grandma.


That, and someone pretending to be the owner of a bank account and trying to empty it. People cry for more protection from theft and fraud, and then complain that the efforts to prevent theft and fraud are too burdensome? Ridiculous.
 
2014-01-25 12:26:47 PM  
TFBank
failure to show evidence is not a reason to refuse a withdrawal. We are writing to apologise to any customer who has been given incorrect information and inconvenienced."

That's cute.
I assume the next time someone keeps a chunk of the bank's money by overdrawing their account, they can just write a letter of apology instead of paying interest on it and maybe even fees (depending on the level of suck-assness of the bank)?


/there should be articles using this behavior as proof that the bank is running out of cash
 
2014-01-25 12:27:21 PM  

Demetrius: Customer: "I'll be closing my account please."


Yup.
 
2014-01-25 12:28:14 PM  

MusicMakeMyHeadPound: mccallcl: Isn't this the bank that was laundering money for terrorists?

The one we foolishly let off the hook with a light slap to the wrist? Yes.


And because of their screw-up, they've had to place unrealistic anti-money laundering requirements on their customers.
 
2014-01-25 12:32:25 PM  
I blame Bernanke.

"How dare those peons think they can get easy access to OUR money!!!"

-Every FED chairman ever
 
2014-01-25 12:34:34 PM  
As someone who works in the car business, where people consistently make large down payments (sometimes in cash), fark this company. The customer can do what they want with their money.

I've yet to figure out WHY some people want to carry around $8000 in twenties. I guess checks don't exist in the magical land of inefficient commerce.
 
2014-01-25 12:34:36 PM  
TuteTibiImperes:
If they're worried about people with fake IDs trying to access accounts they could just require customers to set up security questions that they'd have to answer in the event of a large out of character withdrawal.

Doesn't need to worry about security questions involving large sums of cash:

img142.imageshack.us

Ain't nobody got time fo' dat.
 
2014-01-25 12:36:07 PM  
Coming soon to the US. The banks aready immdiately report large transactions to the fed. The bar is set somewhere
 
2014-01-25 12:36:35 PM  

unlikely: TuteTibiImperes: If they're worried about people with fake IDs trying to access accounts they could just require customers to set up security questions that they'd have to answer in the event of a large out of character withdrawal.

My credit union does this


Credit Unions for the win;

Bank Vs Credit Union
Bank: Insufficient funds? $30 per transaction because you already don't have money so we will take more of what you don't have...
Credit Union: Insufficient funds? It's ok! You have a $500 line of "credit" you owe back to yourself.


pffft.  To hell with banks..
 
2014-01-25 12:40:30 PM  

Demetrius: Customer: "I'll be closing my account please."


Simpler to open an account in a bank without the rule and wire transfer.
Once the transaction is complete then come in and close the account.  No need to risk having them deny you closing the account.
 
2014-01-25 12:41:54 PM  
wow... Max Keiser was right!
 
2014-01-25 12:42:06 PM  
 
2014-01-25 12:42:43 PM  

Demetrius: Customer: "I'll be closing my account please now"

 
2014-01-25 12:43:20 PM  

Demetrius: Customer: "I'll be closing my account please."


My exact thoughts!
 
2014-01-25 12:43:37 PM  

Demetrius: Customer: "As I have no faith in this institution to restrain from using my funds for criminal activities, I'll be closing my account please."


FTFY
 
2014-01-25 12:44:44 PM  
HSBC is (are?) slime.

I work weekends as front desk/security at an upscale independent living retirement community.  I used to get hang up calls every half hour about a year ago.  When I *69'd the number (no caller ID at that time) I called it and got an automated system with no way to talk to an actual human, but I did get that it was HSBC.  I googled them and got a couple of numbers and started calling.  First time, I got some guy in a call center in India who told me his name was Chad.  Yeah, right.  He did promise to put a do not call notation next to our number.

Second time, after they kept doing the hang up calls, I got some guy in California who finally fessed up that they were collection calls but denied they were hang ups, stating it only sounded like it as it then went direct to him or his co-workers.  I told him to stop lying, as it did not.  The only way I got him was to google his company and start calling.  I told him the person he was trying to reach never works on the weekends and that the hang up calls were interfering with a business.  I told him they were to stop and stop now or my next call would be to our state atty. general who is hell on wheels against phone collection harassment.  That woke them up and they stopped.
 
2014-01-25 12:44:51 PM  

firefly212: unlikely: TuteTibiImperes: If they're worried about people with fake IDs trying to access accounts they could just require customers to set up security questions that they'd have to answer in the event of a large out of character withdrawal.

My credit union does this

My bank (efirstbank.com) does this... if I want to do a really big transaction, I need to call ahead to the phone people so they can note in my account, and they require my password to authorize it. Originally it was a high amount, but I asked them to change it to 1,000... so if anyone tries any shenanigans without pre-authorizing, the bank both denies the transaction and calls my cell phone automatically.


I dont have a problem with this as a voluntary restriction. In fact, that it is a good idea.

But the bank shouldn't need to know *why* you want the money. Only that you pre-authorise its withdrawal under specific conditions.

Its not the banks job to determine the legality of the use of the money once it has left their control.

Banks should and do keep track of movement of large amounts of currency already. And as such there will be records available if the authorities investigate wrongdoing.


If they specifically have cause to believe a customer is funding an illegal operation they shouldn't accept them as customers.

At the very least they should have at least warned the customer that the new policy was in place and added a pre authorization step that doesnt include a *why*.
 
2014-01-25 12:45:03 PM  

Malacon: When I worked as a Teller (at HSBC, actually) we had to fill out paperwork which we just referred to as the "Large Dollar" form when someone took out cash over a certain number or a bank check over a certain dollar amount. We needed ID, SS# and I think a reason for the withdrawal. We would never deny the withdrawal though, unless they refused to fill out the paperwork.

I wish I could remember the details (it's been over a decade) but I want to say it was over $5k in cash or $10k in a bank check. It was a federal law, not a bank one, and was intended to keep tabs on possible money laundering or something...

Fark. I remember so little of it this post is probably useless... sorry.


You're talking about what is now called a Currency Transaction Report, for any transaction involving cash over 10,000.

You get name/business, social security number or tax ID, and a few other personal details. It's a federal law designed to prevent moneu laundering.

Some people/businesses can apply to be exempt from the requirements, but some businesses (car dealerships, restaurants, any industry that's been often used as a "front" for money laundering) can't.

There's also a Suspicious Activity Report that can involve any behavior or amount, but that's different.
 
2014-01-25 12:45:10 PM  

Speaker2Animals: "You shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours."

LMAO if he really believes this.


And of course government requires banks to report large transactions  as if the "large" transaction itself is probable cause.
 
2014-01-25 12:47:04 PM  
 "Nope, unless you can tell us what it's for; and show us an itemized receipt or quote of expenses"

TRANSLATION:  "Something really, really bad is coming down the pike and we're not sure how much longer we can keep a lid on it."
 
2014-01-25 12:48:13 PM  
This does not surprise me.  HSBC is hands down the shiattiest retail bank ever.  Unfortunately, since I have to do business in Hong Kong I have to deal with them.  Americans atleast have some retail bank competition which is not available in a lot of countries.

They charge fees for everything (yes, sort of like US banks), but on top of that, their tellers and bank officers are for the most part - morons (straight outta college). I've gotten incorrect advice on so many things.  Like how Americans can change their account to "joint" or add another party name to the account in pretty much one visit?  HSBC required me to come in several times (each time screwing up the paperwork) and signing unbelievable amounts of documents.  Eventually, we gave up.

Oh and god forbid you lose your atm card or forget your pin - that's another nightmare.  And verifying who you are?  Better make sure your signature is 100% correct (I've been forced to resign docs several times because the teller couldn't match my signature - in the US no one gives a shiat) and you bring 3 or more forms of ID.

Everyone in HK complains about HSBC.  Sure, one could bank at Standard Chartered, but I'm gonna guess its the same issues and with even less ATM locations.
 
2014-01-25 12:48:33 PM  

hasty ambush: Speaker2Animals: "You shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours."

LMAO if he really believes this.

And of course government requires banks to report large transactions  as if the "large" transaction itself is probable cause.


Reporting a large transaction is not the same as not giving you the money.
 
2014-01-25 12:48:44 PM  
 
2014-01-25 12:50:27 PM  
Not sure about British law, but not letting people have there own money legal ?
 
2014-01-25 12:58:53 PM  
img.fark.net
 
2014-01-25 01:01:29 PM  
This is why you don't use banks.
 
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