norsk

I agree it is weird, but surely it is also the stupidest thing they could do if they wanted to avoid mass-withdrawals..

weasel decentral

Bit of lax of the BBC to run a story on some anecdotal evidence from one customer who had some difficulties taking out some cash.

Edit to say; after the last bank crash fiasco I would have a fairly low opinion of so called bank/financial 'analysts'

Bongoman2

So another Bank says that there is no problem, avert your eyes and buy up big.

Well they would say that, wouldn't they.

TheShed

Fair point, but DB's statement was made some time ago. Long before this story emerged.

Its also interesting (to me at least) that HSBC have actually issued a statement stating that the policy has now been retracted.

Millhouse

I can tell you that this policy is in full affect in Bur Dubai right now. I'm just about to meet the manager.

Bahtatboy

According to what I've read, the policy had been retracted BEFORE the story broke. I view that as the ****ing media hyping things just for the sake of sensationalism. If anyone actually KNOWS any different, please speak up.

But you're talking about the Dark Ages here. However, please let us know how it goes.

TheShed

Interesting. Please let us know what you discover.

Also, please let us know what you need large amounts of cash for . Are you taking all of the BE'ers out for a big pub crawl?

Millsyisland

I use Lloyds International in Jersey - service good, interest sh1t.

Brains1983

That's offshore banking in general though, right?

shiva

ta, interest isnt an issue as its not savings as such

Millhouse

Well, the withdrawal was long overdue so it was a bit larger than normal. I've been lazy and the thought of a run on the bank in the UK in 2 hours time combined with a meeting in Bur Dubai this morning incentivised me to pop in.

Apparently as of September they need proof of where the money is going. My little friend in the money shop also wanted similar details for the transfer back -- although he always ask, I always say no and he does the transfer.

HSBC wanted to do the transfer but could not come remotely close to the rate I was offered and so after a quick chat and some tea with the manager I was allowed to take the money. The deal is I am to send them the receipt of the transfer when I'm done. Others in the queue were taking out large sums without much issue.

It really does seem more about money laundering in my opinion as they were more than happy to let the money leave if they transferred it. The problem was cash handling, which given their recent fines is pretty understandable.

Of course, all that is left in there now is the rent due next week.

Bahtatboy

So, nothing new of substance, then. There's been a gradual tightening of money movements over the past decade in order to combal money laundering, and in my view HSBC in UK just got a bit overzealous recently coupled with their wish to try to slow down exit of cash. I don't see any conspiracy in this.

Millhouse

spot on.

mentalist

I just withdrew Dhs5,000 out of curiosity. No problems experienced. Mountain and molehill spring to mind.

Mogs

You can withdraw up to AED 8,000 a day from the HSBC ATM so I don't think this amount would concern them in any event.