To The Bank - I'm buying a car, I want my money now.
Discussion
Just been into HSBC at lunchtime to give then a days notice that I want to draw some of MY money out, in cash, to buy a car.
Sorry Sir, we need to have some proof of what you are buying.
Well I'm sorry but it is none of your business.
Well I'm sorry but you cannot have YOUR money.
An electronic cash transfer takes a couple of hours, I need the other guys (private seller) bank details to do this.
An hour on and I'm still absolutely furious!
Are they all like this now, because I'm changing banks. I've been with HSBC for over 30 years but this takes the biscuit.
Sorry Sir, we need to have some proof of what you are buying.
Well I'm sorry but it is none of your business.
Well I'm sorry but you cannot have YOUR money.
An electronic cash transfer takes a couple of hours, I need the other guys (private seller) bank details to do this.
An hour on and I'm still absolutely furious!
Are they all like this now, because I'm changing banks. I've been with HSBC for over 30 years but this takes the biscuit.
sc0tt said:
Anything over £5k they want to know what it's for.
If you told them it's for purchasing a car you would have had your money and you wouldn't be in this dilemma.
If you told them it's for purchasing a car you would have had your money and you wouldn't be in this dilemma.
Skyedriver said:
Just been into HSBC at lunchtime to give then a days notice that I want to draw some of MY money out, in cash, to buy a car.
.... Unless I missed something..HSBC have got very funny about this lately, because they got their knuckles rapped for assisting in money laundering.
Cash is the only payment method I would ever accept using for a car transaction. Nothing else is as secure and CHAPS has a cost and is not instant.
HSBC's policy is bang out of order and if my bank ever told me that, the next request would be to close all of my accounts.
Cash is the only payment method I would ever accept using for a car transaction. Nothing else is as secure and CHAPS has a cost and is not instant.
HSBC's policy is bang out of order and if my bank ever told me that, the next request would be to close all of my accounts.
Snowboy said:
Money Laundering laws.
You could have said you're going clubbing in London and planning to get wasted.
You could have said it was for a car.
They just have a legal obligation to ask the question and record your answer.
Only for depositing money into an account; not for withdrawing it as cash.You could have said you're going clubbing in London and planning to get wasted.
You could have said it was for a car.
They just have a legal obligation to ask the question and record your answer.
Muncher said:
HSBC have got very funny about this lately, because they got their knuckles rapped for assisting in money laundering.
Cash is the only payment method I would ever accept using for a car transaction. Nothing else is as secure and CHAPS has a cost and is not instant.
HSBC's policy is bang out of order and if my bank ever told me that, the next request would be to close all of my accounts.
THat's the planCash is the only payment method I would ever accept using for a car transaction. Nothing else is as secure and CHAPS has a cost and is not instant.
HSBC's policy is bang out of order and if my bank ever told me that, the next request would be to close all of my accounts.
Goodbye HSBC
kambites said:
I've a feeling it's a legal requirement - part of the anti-money laundering stuff that came in a few years ago.
Nothing to do with money laundering, which is the act of turning dirty cash into a nice clean bank balance. IE PAYING IN large amounts of cash. HSBC provide this service in the US to mexican drug barons, for a small fee.I should know as I was once faced with a big angry bloke asking why he couldn't pay in £160,000 of used notes in a Walkers Crisps cardboard box. He'd sold his powerboat to a bloke from Amsterdam!
The HSBC line is that it is protecting you from someone posing as you and taking out your money. This too, is b
ks. They just don't hold the cash in branches so make it as difficult as possible.jamieduff1981 said:
sc0tt said:
Anything over £5k they want to know what it's for.
If you told them it's for purchasing a car you would have had your money and you wouldn't be in this dilemma.
This. You're just causing yourself grief out of out-dated stubborness. Of course banks want notice before handing out large sums of cash. How are they supposed to loan/invest money out if it has to stay liquid at local branches just incase someone turns up once every 3 years trying to withdraw a suitcase full of £20 notes? You should have stuffed it in to your mattress if you expected that.If you told them it's for purchasing a car you would have had your money and you wouldn't be in this dilemma.
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