Well, I know the Britts aren’t the brightest when it comes to many things, but opening a bank account is not showing any intelligence at all.
Millions of eastern Europeans are sending Billions of pounds to their home country from britain and the British banks ain’t getting a slice of that.
Why is that? Because they won’t let you open a bank account unless you have it well funded. Meaning, you have a job with steady weekly or monthly income, or you have stocks or bonds that gives you earnings, or you have some sort of trustfund giving you earnings. These are pretty much the british banks accept as funding your meager future bank account. As the result of this dumbness eastern Europeans are dealing in cash and cash they do. Billions per year.
Eversince those countries became part of the European Union they are flocking to britain. They are wheeling and dealing, selling and buying on flea markets (car boot sale they call it in britain), eBay, etc. They are buying cars for cash, electronics, toys and clothing. Many of them several or even into the tens at the time and all for cash.
All this cash and the stupid british banks don’t want any of it!!! Nada! Zilch!
They say ” WE DON’T WANT YOUR MONEY”
Is that a good business idea? Not today when britain is in such a deep **** that they have to raise tuition fees for students, increasing taxes, cutting back on welfare, cutting back on government services, and letting go of 1.6 million workers in the next couple of years. (Right around 2012 or so.)
Yet these banks that are all consolidating under one banking system (santander) because the power is in unity slogan) they don’t want to do anything with anyone that has income but no job!
Here is what had happened. Friend of mine wanted to open a bank account. (she is from Eastern Europe) She does domestic cleaning because of her lack of english thus can’t get a job in her profession, which is a Nurse, so she cleans houses for cash and sometimes she gets a check, most of the time it’s cash tho and she also sells on Ebay and other auction sites and also buying and selling on flea markets, just to mention a few.
She is using paypal and her bank account in the country she is from. She was going to open a bank account with Halifax bank. They turned her down saying she has regular income. So big deal? !
She makes more than a regular british worker employed full time. The only difference is that she takes that money into her country and brings it back around for using it again, for purchases in the UK and taking the profit out again. This is only one of my friends doing this. I have others that doing business here in britain and shuffling money back and forth in their pocket for lack of british accounts they can’t get because of the britts brainstorming and the decision they’ve made not accepting all these millions and millions of pounds from these people.
So big deal, just annoying and makes business a bit harder but it’ll get done regardless. It would be much easier if the banks would have some brain and business sense.
I’ve met Eastern Europeans that had 20-30 thousands pounds in their pocket (literally) because they are forced to buy and pay for anything with cash. These are not people with regular 9-5 jobs, but business man and women that are self employed so to speak with no bank account.
Other friends of mine are buying at least 15 cars per year and thousands of pounds worth of other merchandise and the profit on that is quite good. None of these people are buying to loose money. They are buying and selling to make money. The banks don’t want any of that.
I understand the money laundering laws, but these people are not money launderers, they are just everyday business people want to make some profit and make a living, to better theirs and their families life’s.
I don’t think the banks business how people fund their account anyway. Since modern society is dependent on credit cards, debit cards and checks, the banks job should be to support the economy and not weakening it.
If I was a banker I would just let anyone have an account as business wise that would make more sense. Imagine if the banks had started out with this attitude back in the years 1700-1800 hundreds. There would be no banks today! I can’t believe how dumb the heirs got. I am sure those previous owners would turn in their graves if they’d woke up seeing how their business is run.
Could be that the britts are jealous? That’s why they make it so hard for them to succeed? Could be, or could they be just sooo dumb to let all that money ready to be put in their hands reject it, saying “huh- you don’t have a regular 9-5 job and you have all that money but we don’t want it”. Jealousy or Dumbness?
I would say the latter. Not just Halifax but all the others are the same. The main ones are Barclay’s, HSBC, Halifax, Loyds and Santander. They are all the same.
Of course it might be a psychological rejection or hurt. The British people don’t have much self esteem. They are sheepish rather than bullish. They are jealous if someone outsider is trying to get ahead. This behavior is sort of like a power struggle between two nobodies.
Yeah could be just psychological, but until the fear relapses all these people will deal in cash only and take their billions somewhere else.