If you have cash in HSBC. Since they have been caught laundering billions in drug cartel money they are in the hole for hard cash to the tune of 800bn. This is the bank that Cameron begged to stay in the UK when it threatened to move to China. The movement of money from Colombian and Mexican cartels amongst others have kept this bank afloat with all those billions flowing through at any given time, they are now without that revenue source and cash flow. Currently they are denying customers withdrawals of cash over £3,000. Am sure no one with accounts there ect won't give a ****, just in case some of you do.. Another huge tax payer funded bailout on it's way.
the irony is, now you have to provide reasons and proof every time you want to take out large sums of money http://www.bbc.co.uk/news/business-25861717
Over 3k it seems. They will let you do a transfer, they are choc full of electronic currency but as for cold hard cash, they are f**king broke, this is why they are making it difficult to actually withdraw money. They are f**ked, they over stated their worth by 10's of £billions. What makes it all the more sad is that they were convicted of laundering for cartels and not one person faced criminal charges. HSBC is an organised crime syndicate. Nothing more.
As the Deposits are guaranteed by the government to a level far higher than most of us will have then there's no panic.
by our government? best not be passed onto the tax payers who normally pay for **** ups somehow, the ****ing ****s!!
Who else do you think would give the guarantee? At first sight it does seem high handed by HSBC but we give them our money in the first place. If it happened to me I would immediately do an electronic bank transfer - which they can't stop - and close the rest of my accounts. But I don't believe that the rest of them are any different.
i used to work for one so i know they are ****s mate. they are just like politicians, dress up the same bullshit, just in different ways. is about time that the tax payers stop paying for everyone elses **** ups, esp when we have no say in whether we want to help or not. help the rich, **** the poor!
you need to speak to a mortage advisor mate, esp if you have an account that is linked to your mortage/savings etc somehow. my mates ex wife was a mortgage advisor but sadly i don't see her now days, sorry i cant help more. think at the moment its more a moral issue than a financial problem isnt it? but always best to double check esp if you have money with them.
I don't see how I would be at risk? I have a mortgage and a current account so surely it doesn't affect me financially. I don't have savings with them, I can understand how that would be a problem. With the mortage and the loan I have it's me who owes them so no big deal right? My current account just has our wages going in so again no problem? If I had savings they could be at risk? Not bothered about the moral side at this point I just want to know if I could lose anything?
You're probably fine as long as you can meet the payments. I would check it out though with someone who knows the ins and outs. Those in difficulty face swift repossessions if the assets are in positive equity. The UK government could not possibly afford to back all of the deposits. Look at what happened Ireland after government guarantees. The tax payer is in debt till 2054 and the Troika now controls Ireland's economy. It's not like Germany where 90% of deposits are split across 2000 banks, 5 freaking banks hold 90% of deposits in the UK. A HSBC collapse and or bailout can expect pensions raided AGAIN and even possibly deposit accounts and most certainly billions cut from public services. Am sure Cypriots though their money quite safe until they went to take it out. Truth is Europe, UK included, are a bail in group now, when banks are in trouble they automatically get bailed out at the cost of the saver and tax payer. Certain banks will not be allowed to fail.
Repayments are fine and the mortage has about 10 years left, no savings or pensions with them at all so from what I know about this which isn't much I'm safe right?
Anything over 6k in or out you have to provide proof of where is from/to go to. A load of scaremongering I don't think HSBC is in danger financially. More in danger of being broke up as the regulators believe the bank is too big to manage
The ****ers have been laundering what must be trillions by now for the cartels for years and they get fined 5 weeks profits of 1.9billion. Certain individuals were too important to arrest was the excuse, it would have a negative affect on the global financial system they said
Your mortgage is probably fine. If anything happened to HSBC (which I doubt) then your mortgage would be sold by them to somebody else so all that it meant to you would be that you paid to the new owner of the mortgage. Any deposits in your currrent account would be protected. However all of this is really about a bank being high-handed than a bank going bust!!
and they say crime doesn't pay is amazing most peoples morals all have the meaning money somehow behind them,
Slight scaremongering Sisu? It's just HSBC being over zealous with their fraud policies, I don't think savers' money is at risk at all
They've been cooking the books mate and drastically overstating their assets. They have been lying through their teeth. Cameron and Osborne are owned by the City of London, make no mistake. The banks are currently creating another housing bubble in the UK, you can see that with rising prices. The UK tax payer will have to fund this bailout thing is if HSBC gets into serious trouble, which it looks like they are, then obviously this will have a knock on effect. The bank wont just disappear obviously, it will not be allowed to fail, instead it comes out of everyone's pocket for the next 40 years in taxes privatisation of public services and cuts to other public services. If things got bad enough wit the banks the government will 100% go after people's deposits and introduce capital controls. Cyprus was the test case.
