Comments on: HSBC account closure leaves expat mystified

Comments on: HSBC account closure leaves expat mystified http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/ Guernsey News, Sport, Community & Lifestyle Wed, 22 May 2013 15:41:55 +0100 hourly 1 http://wordpress.org/?v=3.0.4 By: Jo Campelli http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-237413 Jo Campelli Tue, 12 Feb 2013 22:17:52 +0000 http://www.thisisguernsey.com/?p=171461#comment-237413 Penny what a dreadful thing to do - but I am not surprised as I received 'the reply' to my letter and it went along the lines of telling me that they couldn't understand why I was complaining!!! the bottom line was that they might be able to offer me an 'International' account and gave me a number to ring (dream on) and the bottom line was I could contact the Banking Ombudsman if I felt so inclined - but they would not enter into any more correspondence with me on the subject and my account will still be closed on March 13th! So I consider myself told (after 30 years of loyalty).....hopefully the Co-operative Bank Guernsey will pick up the pieces!! Or my pension might be able to be paid into Skipton Guernsey.....whatever happens it has given me a job and a half from 10,000 miles away!!! Penny what a dreadful thing to do – but I am not surprised as I received ‘the reply’ to my letter and it went along the lines of telling me that they couldn’t understand why I was complaining!!! the bottom line was that they might be able to offer me an ‘International’ account and gave me a number to ring (dream on) and the bottom line was I could contact the Banking Ombudsman if I felt so inclined – but they would not enter into any more correspondence with me on the subject and my account will still be closed on March 13th! So I consider myself told (after 30 years of loyalty)…..hopefully the Co-operative Bank Guernsey will pick up the pieces!! Or my pension might be able to be paid into Skipton Guernsey…..whatever happens it has given me a job and a half from 10,000 miles away!!!

]]> By: Penny http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-236835 Penny Mon, 11 Feb 2013 10:41:07 +0000 http://www.thisisguernsey.com/?p=171461#comment-236835 I didn't even receive a letter. I had money go in today which I can't access as they closed my account on Friday. Nightmare. No message online. Telephone banking unhelpful. Woman on the phone told me "They had too many customers to call". How lucky for a bank to have too many customers to call and not to be worried if they stayed or left. I didn’t even receive a letter. I had money go in today which I can’t access as they closed my account on Friday. Nightmare. No message online. Telephone banking unhelpful. Woman on the phone told me “They had too many customers to call”. How lucky for a bank to have too many customers to call and not to be worried if they stayed or left.

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]]> By: Jo Campelli http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-235684 Jo Campelli Wed, 06 Feb 2013 23:29:08 +0000 http://www.thisisguernsey.com/?p=171461#comment-235684 Jimbo - I think this answers all (or most) questions as to why HSBC don't want us ..... I don't quite understand the use of the word moralising as to me it is very much an inconvenience at the age of 70! one really doesn't want to start over! http://www.independent.co.uk/news/business/analysis-and-features/hsbc-the-drug-worlds-local-bank-8406737.html Jimbo – I think this answers all (or most) questions as to why HSBC don’t want us ….. I don’t quite understand the use of the word moralising as to me it is very much an inconvenience at the age of 70! one really doesn’t want to start over!

http://www.independent.co.uk/news/business/analysis-and-features/hsbc-the-drug-worlds-local-bank-8406737.html

]]> By: Jo Campelli http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-235678 Jo Campelli Wed, 06 Feb 2013 23:08:47 +0000 http://www.thisisguernsey.com/?p=171461#comment-235678 Well said Toby Well said Toby

]]> By: Jo Campelli http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-235673 Jo Campelli Wed, 06 Feb 2013 22:55:11 +0000 http://www.thisisguernsey.com/?p=171461#comment-235673 Blondie we were also confused as the HSBC marketed themselves as 'The World's Local Bank' but we could not transfer funds from Guernsey to our Melbourne Branch without all the usual checks and cost etc., so we closed it a few months ago I see now that they are not using that slogan any more!!! Blondie we were also confused as the HSBC marketed themselves as ‘The World’s Local Bank’ but we could not transfer funds from Guernsey to our Melbourne Branch without all the usual checks and cost etc., so we closed it a few months ago I see now that they are not using that slogan any more!!!

]]> By: Jo Campelli http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-235365 Jo Campelli Wed, 06 Feb 2013 07:50:46 +0000 http://www.thisisguernsey.com/?p=171461#comment-235365 Don't believe this is the case Dani as when we put the HSBC account into 'joint' names (2009) we both had to provide everything from scratch, as though it were a new account - so they have everything they need to know about us. Don’t believe this is the case Dani as when we put the HSBC account into ‘joint’ names (2009) we both had to provide everything from scratch, as though it were a new account – so they have everything they need to know about us.

]]> By: Jo Campelli http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-235335 Jo Campelli Wed, 06 Feb 2013 04:47:33 +0000 http://www.thisisguernsey.com/?p=171461#comment-235335 I have read all the above with interest and concern. I have been with the HSBC for 30 years + ad when I married an Australian and we decided to travel around Australia before we end up in God's Waiting Room the HSBC on the Bridge were ok with what we wanted and even put our Australian PO Box number on our account! Now I have received one of these letters - leaving me with the almost impossible job of finding a new bank Account at the age of 70! Not to mention a home for my OAP and two small superannuations. I need stg when I return to the Island to visit family and if anyone has checked the Stg/AU$ exchange lately it is not really worth the effort, or the 35.00 stg if would cost to have it send over weekly. I have written to Coventry HSBC to explain - but almost a month later I have heard nothing....I am now getting a bit desperate as March 13th sees them close both of my accounts (including a fixed 3 year bond which is my granddaughters name and held in England until she is 18)and send a cheque to me here in Melbourne!!!!! I have read all the above with interest and concern. I have been with the HSBC for 30 years + ad when I married an Australian and we decided to travel around Australia before we end up in God’s Waiting Room the HSBC on the Bridge were ok with what we wanted and even put our Australian PO Box number on our account! Now I have received one of these letters – leaving me with the almost impossible job of finding a new bank Account at the age of 70! Not to mention a home for my OAP and two small superannuations. I need stg when I return to the Island to visit family and if anyone has checked the Stg/AU$ exchange lately it is not really worth the effort, or the 35.00 stg if would cost to have it send over weekly. I have written to Coventry HSBC to explain – but almost a month later I have heard nothing….I am now getting a bit desperate as March 13th sees them close both of my accounts (including a fixed 3 year bond which is my granddaughters name and held in England until she is 18)and send a cheque to me here in Melbourne!!!!!

]]> By: jimbo http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-233681 jimbo Fri, 01 Feb 2013 16:35:52 +0000 http://www.thisisguernsey.com/?p=171461#comment-233681 Like any other business banks are there to make money regardless of clients' wishes. There is no point in moralising. Like any other business banks are there to make money regardless of clients’ wishes.
There is no point in moralising.

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]]> By: vic gamble http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-233103 vic gamble Thu, 31 Jan 2013 15:03:10 +0000 http://www.thisisguernsey.com/?p=171461#comment-233103 ...good grief Peter, how'd you manage to wrangle 'your cleaver' into something so clinical and dry as tax liabilities? …good grief Peter, how’d you manage to wrangle ‘your cleaver’ into something so clinical and dry as tax liabilities?

]]> By: Peter http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-233067 Peter Thu, 31 Jan 2013 14:04:45 +0000 http://www.thisisguernsey.com/?p=171461#comment-233067 Or Guernsey tax if your cleaver. Or Guernsey tax if your cleaver.

]]> By: Terry Langlois http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-233009 Terry Langlois Thu, 31 Jan 2013 11:50:49 +0000 http://www.thisisguernsey.com/?p=171461#comment-233009 JohnT You are mistaken. A UK tax resident who deposits money in a Guernsey account would have to declare any interest received to HMRC and pay tax on it to HMRC. So the use of offshore bank accounts is not tax avoidance at all - it is still subject to UK tax. That begs the question of why onshore people use offshore accounts. It used to be because of better interest rates, but that is no longer true. The fact that there is no good answer in this question is why offshore retail banking is reducing. JohnT

You are mistaken. A UK tax resident who deposits money in a Guernsey account would have to declare any interest received to HMRC and pay tax on it to HMRC. So the use of offshore bank accounts is not tax avoidance at all – it is still subject to UK tax.

That begs the question of why onshore people use offshore accounts. It used to be because of better interest rates, but that is no longer true. The fact that there is no good answer in this question is why offshore retail banking is reducing.

]]> By: Toby http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-232982 Toby Thu, 31 Jan 2013 10:43:49 +0000 http://www.thisisguernsey.com/?p=171461#comment-232982 Try doing a Google search for Conspiracy theories ..... You will discover that the US sent nobody to the moon ,keeps hidden a crashed UFO and aliens from Roswell, a hidden CIA gunman ( on the grassy knoll )actually killed Kennedy, George Bush deliberately destroyed the World Trade centre to justify a war in the Middle East, the US deliberately alowed the attack on Pearl Harbour to justify their entry into WWII .... and so on. Just because someone states something on the internet doesn't mean it is true. I deposit all my money in the UK , and don't pay ANY UK tax on it. So I would say that the UK is operating as a tax haven for me ... Try doing a Google search for Conspiracy theories …..

You will discover that the US sent nobody to the moon ,keeps hidden a crashed UFO and aliens from Roswell, a hidden CIA gunman ( on the grassy knoll )actually killed Kennedy, George Bush deliberately destroyed the World Trade centre to justify a war in the Middle East, the US deliberately alowed the attack on Pearl Harbour to justify their entry into WWII …. and so on.

Just because someone states something on the internet doesn’t mean it is true.

I deposit all my money in the UK , and don’t pay ANY UK tax on it. So I would say that the UK is operating as a tax haven for me …

]]> By: Blondie http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-232723 Blondie Wed, 30 Jan 2013 18:51:58 +0000 http://www.thisisguernsey.com/?p=171461#comment-232723 And yet they target their staff with pushing the "global" capabilities of the Bank and being "joined up", looking at the whole relationship. And yet they target their staff with pushing the “global” capabilities of the Bank and being “joined up”, looking at the whole relationship.

]]> By: Dani http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-232619 Dani Wed, 30 Jan 2013 14:13:35 +0000 http://www.thisisguernsey.com/?p=171461#comment-232619 What I have heard is that all these people having their accounts closed joined the bank when KYC requirements were lower. Now more information is required from them and as expats tend to move around HSBC have thought it better to close the accounts than chase people up for info. Not sure how true that is but it is an explanation I've been told. What I have heard is that all these people having their accounts closed joined the bank when KYC requirements were lower. Now more information is required from them and as expats tend to move around HSBC have thought it better to close the accounts than chase people up for info.

Not sure how true that is but it is an explanation I’ve been told.

]]> By: Rob http://www.thisisguernsey.com/news/2013/01/26/hsbc-account-closure-leaves-expat-mystified/#comment-232383 Rob Wed, 30 Jan 2013 04:48:04 +0000 http://www.thisisguernsey.com/?p=171461#comment-232383 I live in Hong Kong and got the same letter. I bank with HSBC here also and get charged for transferring money between my HSBC accounts which seems ridiculous. Luckily i still maintain an account with another bank locally. I wonder if they would be as eager to close any credit cards I had with them should they have a balance on. I live in Hong Kong and got the same letter. I bank with HSBC here also and get charged for transferring money between my HSBC accounts which seems ridiculous.

Luckily i still maintain an account with another bank locally.

I wonder if they would be as eager to close any credit cards I had with them should they have a balance on.

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