We all know or heard about HSBC bank. They are one of the biggest and got to be the stupidest bank in Britain.
This is my personal story: I have a personal account with them just like several people I personally know.
We all know Ebay too. It’s the biggest online auction site. Well, HSBC don’t like Ebay and don’t like it’s clients to deal with Ebay, just like they don’t like their clients to shop online.
Why is that? Thanx to the internet we can all shop online using a Visa or MasterCard. About 3 months or so ago I’ve gotten a letter from HSBC stating I am using my account (through my Visa debit card the bank gave with the account) as a business account and not a personal account that is supposed to be and they will monitor my transactions and either limit or cancel my account. I am telling you they must be the stupidest bank in the UK.
They have canceled the accounts of several people I personally know for the same reason. How stupid a bank can be?
So, I walked into the local branch and a not very knowledgeable (in the UK companies don’t give their employees any kind of training, they give pep talks once in a while but no training) young girl tried to answer my questions and after making a phone call informed me that the amount of Ebay purchases indicates I am doing a business. Hmmm Aren’t they stupid or what? The amount of Ebay purchases!!
I asked her what do HSBC consider a business account and how many and what type of transactions per month were they thinking of being a personal account? 5 or 6 transaction where you perhaps pay your bills and perhaps buy one something on the internet? She had no idea. But then what is the bank account for??
In the news of course we hear quite a lot about HSBC and their mega money laundering operations and the fines they receive occasionally because of their business practices.
I am asking everyone with a bit of logic. Does the above makes sense to you? I mean a bank will tell us how many transactions can we make and where and how much can we buy or not buy?
So the result is that I am not using HSBC just for basic stuff and I am not putting money into the bank only the minimum necessary amount to pay those 3-4 bills that are set up with them.
I guess they must be struggling because they have to do huge scale money laundering for all kinds of drug cartels and C. organisations to stay afloat according to news reports.
They don’t want my and my friends money to flow through them that’s fine, but they have to make money somehow. Right?
I don’t know how other British banks operate or what do they consider a personal or business purchase amount and I have not heard of other British banks doing the same, but I wouldn’t be surprised if someone has. Brittland!