Few people realize that governments and banks no longer believe that your money belongs to you. The world is deep in debt and what money a person thinks they have could, at some point, simply be confiscated, the moment it goes into a bank account. Whilst it is true that, for the majority of people, a trip to the bank to make a withdrawal is a simple process, there may soon come a time when the banks decide that ordinary people cannot simply withdraw their money without providing a good reason, as customers of HSBC recently discovered. HSBC Bank quietly made a change to their policy in November 2013. Customers were not told about this change but they are beginning to find out about it now; withdrawals of large amounts are only permitted once the customer provides justification for needing the funds. This is being done in the name of protecting the customer from fraudulent transactions. “we have an obligation to protect our customers, and to minimise [sic] the opportunity for financial crime.” HSBC says. “We ask our customers about the purpose of large cash withdrawals when they are unusual and out of keeping with the normal running of their account.” The bank stated, additionally, that it may require customers to provide “evidence” of what the money will be used for. Read more at guardianlv/2014/01/money-in-the-bank-no-longer-belongs-to-you/#8tXyAlJyUZz0cyMt.99 guardianlv/2014/01/money-in-the-bank-no-longer-belongs-to-you/
Posted on: Fri, 28 Nov 2014 02:14:48 +0000
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