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Author Topic: HSBC imposes restrictions on large cash withdrawals  (Read 2205 times)
Gabi (OP)
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January 25, 2014, 12:11:21 PM
 #1

http://www.bbc.co.uk/news/business-25861717
Quote
Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt.

That is why we need bitcoin

4000£ a large withdrawal lol, it isn't even enough to buy a proper oled tv  Cheesy

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January 25, 2014, 12:23:09 PM
 #2

http://www.bbc.co.uk/news/business-25861717
Quote
Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt.

That is why we need bitcoin

4000£ a large withdrawal lol, it isn't even enough to buy a proper oled tv  Cheesy

Wtf, why do you need to tell your bank what you want to spend your OWN MONEY on? If they'd've asked me I'd've just told them "your mum" Grin. And people shouldn't be banking with HSBC anyway.

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January 25, 2014, 02:22:45 PM
 #3

Max Keiser says this is reminiscent of Northern Rock.  The bank that failed.
He has been saying for a while now, HSBC is insolvent.

Why is this "off-topic"?  This is good news for Bitcoin.  Another bank could be about to fall.

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January 25, 2014, 02:30:30 PM
 #4

Max Keiser says this is reminiscent of Northern Rock.  The bank that failed.
He has been saying for a while now, HSBC is insolvent.

Why is this "off-topic"?  This is good news for Bitcoin.  Another bank could be about to fall.



HSBC is a massive bank so I don't think it'll go the way of Northern Rock, but it is a warning sign that banks can do whatever they want with your money.

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January 25, 2014, 04:10:05 PM
 #5

Very sad news. This is definitely not a good sign.
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January 25, 2014, 04:30:53 PM
 #6

same topic in Economics https://bitcointalk.org/index.php?topic=431141.0

1ntemetqbXokPSSkuHH4iuAJRTQMP6uJ9
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January 25, 2014, 04:33:29 PM
 #7

Very sad news. This is definitely not a good sign.

Mmmm yes but at least the terrorist are still being funded.

Sutters Mill
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January 25, 2014, 05:16:04 PM
 #8

This made me angry just reading it. Nobody should be obligated to tell ANYONE what they want to spend their own money on. What are they going to do, deny the withdrawal if it isn't a 'good enough reason'. How about, 'because I don't trust you with my money'. Wonder how that would have gone down.
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January 25, 2014, 05:18:21 PM
 #9

This made me angry just reading it. Nobody should be obligated to tell ANYONE what they want to spend their own money on. What are they going to do, deny the withdrawal if it isn't a 'good enough reason'. How about, 'because I don't trust you with my money'. Wonder how that would have gone down.

I prefer the "your mum" approach when they ask you what you're going to be spending it on  Grin.

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January 25, 2014, 06:41:50 PM
 #10

This made me angry just reading it. Nobody should be obligated to tell ANYONE what they want to spend their own money on. What are they going to do, deny the withdrawal if it isn't a 'good enough reason'. How about, 'because I don't trust you with my money'. Wonder how that would have gone down.

I prefer the "your mum" approach when they ask you what you're going to be spending it on  Grin.

Haha, yeah me too!  Cheesy
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January 25, 2014, 06:42:55 PM
 #11

Good press for Bitcoin and bad press for banks must be good for our lovely little alt-coin!  Grin
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January 25, 2014, 08:42:36 PM
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Good press for Bitcoin and bad press for banks must be good for our lovely little alt-coin!  Grin

When do banks ever get good press? They pretty much ruined the economy and we had to foot the bill.
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January 25, 2014, 09:58:04 PM
 #13

Good press for Bitcoin and bad press for banks must be good for our lovely little alt-coin!  Grin

When do banks ever get good press? They pretty much ruined the economy and we had to foot the bill.

Very true. People are losing faith in the banks. That's where Bitcoin will prevail and make us all millionaires. It will be because of the scheming banks that we become rich I tells ya!  Grin
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January 26, 2014, 07:42:44 AM
 #14

 guys be gentle. Obviously they wanna make sure you use your money in the right way and not wasting it. They care about you and that's why thry are keeping your money:p
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January 26, 2014, 08:01:25 AM
 #15

guys be gentle. Obviously they wanna make sure you use your money in the right way and not wasting it. They care about you and that's why thry are keeping your money:p

Haha. I know you we're joking and that's the funniest thing I ever heard. Imagine if that was true.

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January 26, 2014, 01:17:51 PM
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guys be gentle. Obviously they wanna make sure you use your money in the right way and not wasting it. They care about you and that's why thry are keeping your money:p

Haha. I know you we're joking and that's the funniest thing I ever heard. Imagine if that was true.



Hahaha - funniest meme I've seen in a very long time!

HSBC really are some characters.

First they cooperate with Latin American drug cartels to launder money, and get fined $1.9 billion dollars.

Then they all of a sudden restrict withdrawal of cash for ordinary customers, because they want to 'combat' money laundering. And not only that, they want to ask you what you're going to use the money for. How on earth is that the banks business?

Spread this information everywhere, and please stop using that bank if you can. Money is the only language such criminal organizations understand, so remove it from them and they will listen.

But the bad thing is that people are blind sheep, so they will dumbly continue to use their HSBC accounts, and accept whatever restrictions the bank decides.

It's so funny - trying to restrict money laundering and crime by restricting the flow of paper money. Like crime will stop to exist if all payments were digital... Dream on.

And this is symptomatic of society and the world of today, we're constantly treating the symptoms and not the root cause. The root cause is people turning into criminals, and that can often be followed back to a bad upbringing, bad environment etc.

If a kid has loving parents, learns proper values, gets support and opportunities in life, the chance of that kid turning into a criminal is very low. That's how we'd change the world, to change society and the values that are important.

Trying to stop financial and other crime by imposing restrictions to prevent money laundering, is like trying to prevent water from flowing out of your bath tub by using your hand blocking the open drain.

This world knows no end to all the mind-blowing silliness that exist. If there are aliens, they must really laugh their asses of observing our foolish ways.

And the most perfect thing of it all. Complain to a desk clerk at HSBC about the money laundering charges and their involvement with the narcs cartels, I'm pretty sure you will only get a dumbfounded blank stare in return. Tell the clerk you're going to shut down your account and only use bitcoin, and he might as well call security on you because then you're for certain up to absolutely no good!!!

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January 26, 2014, 01:24:47 PM
 #17

First they cooperate with Latin American drug cartels to launder money, and get fined $1.9 billion dollars.

What makes that figure laughable is that I think that's only a few days money to them.

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January 26, 2014, 01:27:49 PM
 #18


But the bad thing is that people are blind sheep, so they will dumbly continue to use their HSBC accounts, and accept whatever restrictions the bank decides.


Exactly. That's the problem in having a leaderless revolution (not bitcoin, just in general). People won't know what's best for them until someone tells them in most cases.
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January 26, 2014, 01:27:53 PM
 #19

First they cooperate with Latin American drug cartels to launder money, and get fined $1.9 billion dollars.

What makes that figure laughable is that I think that's only a few days money to them.

Yes, I'm perfectly aware of that. The fine and punishment should've been much bigger.. But in reality the politicians were writing stern letters over and over, until finally everybody agreed to exchange some money to make it all history.

It's all hand waiving and a play for the audience. The fact is that the ones with the money controls the world.
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January 26, 2014, 01:32:37 PM
 #20

First they cooperate with Latin American drug cartels to launder money, and get fined $1.9 billion dollars.

What makes that figure laughable is that I think that's only a few days money to them.

Yes, I'm perfectly aware of that. The fine and punishment should've been much bigger.. But in reality the politicians were writing stern letters over and over, until finally everybody agreed to exchange some money to make it all history.

It's all hand waiving and a play for the audience. The fact is that the ones with the money controls the world.

This is a big reason that a lot of people in the UK are calling for revolution. Their are loads of protests that take place because of it. We might not be opressed physically or have it as bad as other countries, but our government is as corrupt as hell. Two of our main leaders went to court to DEFEND the banks for paying such big bonuses!

http://www.ft.com/cms/s/0/0f54735a-25f6-11e3-8ef6-00144feab7de.html
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