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More Bank Madness

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More Bank Madness

Old 13th Mar 2015, 17:28
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More Bank Madness

A close friend received a letter from his bank on the sunny isle of Jersey two months ago, telling him that as he no longer was resident there they would be closing his account and he would have to shift his money elsewhere.

He telephoned the bank and asked them not to close the account as he still received a Jersey-based income. The lady at the bank replied they would "consider" his request.

Last week he received a new debit card for the same account from the bank.

Today two letters arrived from the bank. The first one he opened, dated February, said that as they had received no communication from him, they were closing his account effective the 8th of March.

The second one he opened, also dated February, said that in response to his telephone call of two months ago they would not close his account.

Well, one or the other, I guess.....
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Old 13th Mar 2015, 17:53
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More Bank Madness

How to understand banks,

Senior people are low caliber stupid and fired by immense greed.

Junior people are just low caliber.


So does it all make sense now?
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Old 13th Mar 2015, 18:04
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OFSO

Maybe they think they're posh, from Westminster

But the owners are from Scotland

Claiming to do business in Jersey

With staff based in the Isle of Man

Confused? Explains a thing or two ...?
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Old 13th Mar 2015, 19:08
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Well, the reason banks in the Crown Dependencies are closing down accounts to people who have no connection with the islands is down to pressure from places like London, EU and the OECD. Who keep screaming about tax havens. Ironic really, in view of Millipede's verbal attack a fortnight ago.
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Old 13th Mar 2015, 20:24
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My dad had the same first initial as I do. He had an account at the RBS in a southern English town. When I went to the same bank to open an a/c for myself, the bank said there would be too much confusion, two Mr "OFSOs" with the same first initial. They suggested opening an account with their bank but in a very distant place. So I opened my a/c in the Channel Islands.

That's why I am there.....
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Old 14th Mar 2015, 01:21
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.... places like London, EU and the OECD.
and the USA, who really started all this with their FATCA decree, and now demand that foreign banks report all such activity,so the local banks are now deciding that they can't be bothered, so if you don't live just around the corner, work 9 to 5 Mon. to Fri. and watch Coronation Street every night, they can't be bothered with you.

( FATCA ? FatCats ? )

They are only harrassing the basically honest, ( most of us, anyway ) who happen to have decided to reside somewhere else, the real rogues and money launderers are just laughing at us - and carrying on as before.

World's Gone Mad.
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Old 21st Mar 2015, 22:25
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and another one ...........

Mrs. ExS recently joined our local airline "points" scheme using a new rip-off run by American Express for airmiles, or similar, with Air New Zealand. She now has a new Amex. card - having once sensibly abandoned them years ago.

More then 50% of retailers show you the door when an Amex card is produced - Amex charge them too much commission on sales - so its value for anything, never mind Airpoints, is questionable anyway.

I'm some sort of accessory to this arrangement, having an auxilliary Amex card with my name on it, but the basic account is in Mrs. ExS's name, however, for personal reasons of no consequence to Amex. we decided that I would pay the monthly account by a direct debit from my local bank.

NO WAY said Amex. and returned my direct debit application with undue harrassment, YOU aren't the account holder so we can't accept this payment. ( their inference being that I am some sort of Al Queda money launderer - OK, I'm exaggerating, slightly, but you get the point )

Why the fcuk do they care who pays the bill, they get their money, which is the only reason for them being in business?

We now have to remember passwords, names of first dog, etc. to enter the website to pay the bill every month, or risk penalties and interest charges.

World's Gone Mad.

P.s. we're about to cut up the cards and say stuff you to Amex. Airpoints as well, why can't the airline just knock a few bob off the price of every ticket and save everybody, including themselves, the aggro, advertising, accounting costs etc ?
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Old 21st Mar 2015, 22:42
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And with Gorgeous George's latest wheeze creating the presumption of tax avoidance for not having already declared all overseas accounts and any interest accrued since established, I am now awaiting the three a.m. knock from HMRC's finest as I have had a bank account in Canada for many years that I feed from my UK account for spending money on my annual holiday, feeding my nieces' college funds & paying membership fees for various local clubs that I've become a member of over the years.


I wouldn't mind if I was actually trying to avoid paying tax, or if there was a huge amount of cash in involved, but not being an investment banker it's only a couple of grand per year. If it was a couple of million, no one would bat an eye.




I'll be open to receiving a file in a cake when I end up in the Bar-L or the Scrubs........
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Old 21st Mar 2015, 23:00
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I think they x-ray all cakeboxes now, so 'personal concealment' is the order of the day. I'll be happy to shove a large rasp file up GG's @rse for you, how's that?
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Old 21st Mar 2015, 23:09
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They are only harrassing the basically honest, ( most of us, anyway ) who happen to have decided to reside somewhere else, the real rogues and money launderers are just laughing at us - and carrying on as before.

World's Gone Mad.
I'm a bit of a stude of English history post Normans and you will be if not glad, at least content to hear that the same complaints have been presented for the last 949 years.

I've no doubt that it went on before that as well but I'm not really qualified to make a judgement.
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Old 22nd Mar 2015, 04:08
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...............the same complaints have been presented for the last 949 years.
At least they didn't have Amex cards, or contactless credit cards 949 years ago ( or did they ?)

I guess stashing the Danegeld under the bed was all they had to worry about?
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Old 22nd Mar 2015, 05:34
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Talking

ExSp
Few years ago I had a company Amex.
Was offshore Egypt longer than expected, ask Mrs Solar to take the Amex bill into the bank when it arrived, show the teller (friend of ours) the Amex statement and to transfer money from our joint acc to another acc I had set up for CC payments.
Mrs Solar and the teller both misread the amount so slightly less than was required was transferred.
Arrived in Cairo, overnight in Movenpick paid with Amex, went to the airport, tried to change my ticket found the Amex was blocked. Used personal card to get home.
Phoned Amex (mrs Solar had tried but they wouldn't speak with her as she was not the acc holder despite her trying to explain) and asked them why did they not take the available funds as opposed to leaving themselves open to a much larger loss if I was a bad person. Lots of mithering about how they could not take payment in dribs and drabs.
After several minutes I asked why they would not deal with Mrs Solar yet they were dealing with me, they had not asked for any verification other than the acc number. Person on the phone said but you are the acc holder, I asked how do you know, your speaking to a voice, silence ensued for a brief moment and I told them that I would be canceling the card after payment and that possibly Diners could offer a better service.
I cancelled the card and to this day they are still renewing my card, I find them useful for applying body filler !!!!
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Old 22nd Mar 2015, 09:09
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Apparently Swiss Expats are having problems getting and/or holding Swiss bank accounts without having a Swiss address. Parliament tried to direct the government owned PostFinance to give accounts to any Swiss national, regardless of residence, but that failed.

Apparently the potential for money laundering is too high.
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Old 22nd Mar 2015, 10:40
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I have a TSB account with a balance of zero. It's been like that for some years. They won't close it unless I go to the trouble of writing to the branch where it is......Why should I spend time and money on doing that?
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Old 22nd Mar 2015, 11:10
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possibly Diners could offer a better service.
This is so far removed form wishful thinking to be in the realms of fantasy!

I used to have a company Diners card, I became an expert
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Old 22nd Mar 2015, 11:14
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The only problem - so far - with Amex was the other week when I wanted an increase in credit limit. Following the web site instructions, it didn't work - a button to click didn't appear.

So I telephoned the 0800 number and after the usual security questions - I always have a problem with which email address do they have! - got the increase immediately.
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Old 22nd Mar 2015, 12:09
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I have a TSB account with a balance of zero.
I have a building society account with a balance of 1. This account is held between four people, and was set up for a particular purpose, which ceased to exist many years ago.

The BS would not accept my instruction to close the account, nor to withdraw all the money, despite us deliberately having set the account up as an "any one signature" account. They would however accept my instruction to withdraw all the money except for 1, so that's what I did.

Closing the account would involve posting the form around the four of us to collect signatures, which would cost more than 1 in postage, so you can guess whether we've bothered.

Meanwhile the BS continue to spend more than 1 each year sending us out statements etc.
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Old 22nd Mar 2015, 12:16
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I have a TSB account with a balance of zero. It's been like that for some years. They won't close it unless I go to the trouble of writing to the branch where it is......Why should I spend time and money on doing that?
Similar with Barclays in IoM. If they want to waste their money sending me a quarterly statement it's OK by me.

Do UK banks use IBAN and BIC numbers? I just paid someone in the UK using these but incurred a charge of 25 quid from the UK because they claim the BIC was faulty. It's the only one I could find on line

Diners seem to be closing down ops in several countries. Out of habit I renewed mine only to get a letter stating their operation in the Benelux was going. No refund offered.
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Old 22nd Mar 2015, 12:17
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Amex increased their sub to 690 a year for Platinum card holders last year! And without any notification. This was almost a 100% increase on the previous year. After many many years with them decided I would not pay this and asked to be downgraded to Gold member which is cheaper. They informed me that I would have to make an application as per a new customer!

That was the end of a near 20 year relationship with them and they seemed content to let one of their customers walk away. It's no wonder the banks are [email protected]@ked up!
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Old 22nd Mar 2015, 12:21
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Radeng

The problem with Amex and Diners is that the merchant pays the highest commission, higher than Visa or MC.

Amex and Diners have done a good job in cornering the Corporate Market, this is how I had a Diners card.

I had a case in France where while I was sorting out the company Diners card, the hotel manager saw that I had a MC and he asked me to use the MC. I had to convince him that he had accepted the Corporate booking so he must accept the Corporate card.

For personal use, I've always found Visa and MC to be fine.
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