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Yeah for better coverage of this, see Matt Taiibi's blog at Rolling Stone: http://www.rollingstone.com/politics...-joke-20121213
Essentially HSBC got caught breaking numerous laws and got away with a very small fine. Which contrasts starkly with how the public in the USA are treated e.g. fall asleep on 2 subway seats? Go to jail, or have a marijuana cigarette in your pocket? Go to jail. But launder billions of dollars for drug cartels and even Al Quaida? Pay a small fine.
No wonder they can afford
those flash lounges, eh?
I don't like the HBSC "World's Local Bank" logo. Might be ok if you live in Auckland, but when I wanted to get my cheque stamp duty fees refunded, I was asked to go to Auckland since Wellington does not have an appropriate walk-in office. And No, the Lambton Quay office does not count. I now just stick to real local banks.
Another small update---We closed our HSBC acc about 3 months ago.
We have just gotten our 3rd statement since then saying 0 balance---as if to completely confirm our belief about this outfit.
I guess they just want to keep in touch in case we have any money to be laundered .....
You may mock, but if you have no mortgage and are classed as a "Premier" customer, they are really very good. I can transfer money globally between my accounts free of charge, in multi-currencies. I can bounce between UK, Jersey and NZ at the press of a button, for instance.
Anyone who thinks they are the only organisations accepting cash from dodgy people in 3rd world countries needs their heads read. It's only because they are so global that the US was able to punish them (the meekness of the punishment shows how important they really are to the Govts of the world).
Roberto - they only operate in proper cities, obviously.
Can't say i ever enjoyed dealing with them, when they dealt with brokers.
HSBC cards no longer work in many overseas ATMs
Originally Posted by TheLiberalLeft
Customers going abroad complain of trouble getting hold of their money and blame bank's decision to link up to a single global network
One Hong Kong resident told the Sunday Morning Post
: "Since the issuing of new cards, I have been in London, Istanbul, Tokyo, Morocco, Vancouver, Vienna and Paris.
"I had no joy getting cash in any of them. It always said card error, card invalid, or simply spit the card back out with no explanation."
HSBC did not reply when asked whether changing from Plus and Link would mean customers would have access to fewer banks worldwide.
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