HSBC UK Imposes Restrictions On Large Cash Withdrawals

Julian —  30. January 2014 — 2 Comments

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HSBC imposes restrictions on large cash withdrawals (BBC):

(…) 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 A year before, he had withdrawn a larger sum in cash from HSBC without a problem.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.” (…)

Interesting, that you need a letter of a 3rd person, when you want to withdraw your own money from your own account. Sounds very logical to me.

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