Sunday, January 26, 2014

We know it’s your money, but we are the bank and we say you can’t have it

“Stephen Cotton went to his local HSBC branch this month to withdraw £7,000 from his instant access savings account to pay back a loan from his mother.

“A year before, he had withdrawn a larger sum in cash from HSBC without a problem.

“But this time it was different, as he told Money Box: ‘When we presented them with the withdrawal slip, they declined to give us the money because we could not provide them with a satisfactory explanation for what the money was for. They wanted a letter from the person involved.’

“Mr Cotton says the staff refused to tell him how much he could have: ‘So I wrote out a few slips. I said, “Can I have £5,000?’ They said no. I said, “Can I have £4,000?” They said no. And then I wrote one out for £3,000 and they said, “OK, we'll give you that.'"

“He asked if he could return later that day to withdraw another £3,000, but he was told he could not do the same thing twice in one day.”

Yeah, it’s at

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