www.free-thinkers.eu Banks block access to your cash unless you can prove what it's for
Guest@ | PATH: /reblog/finance/banks-block-access-t...

Banks block access to your cash unless you can prove what it's for

Source: http://www.dailymail.co.uk/news/article-2546622/HS...

From The Mail

Under pressure to crack down on fraud, branch staff are increasingly demanding customers supply evidence of what they plan to spend their own money on.

HSBC last year introduced new rules which allow staff to block a demand for cash unless you can prove what it’s for.

This could include booking receipts, an invoice, a quote for work or even a letter.

Lenders including Santander, Barclays and the Nationwide Building Society also now reserve the right for counter staff to request such proof if they fear the withdrawal could be linked to fraud.

Banks lose £475million to fraud each year, according to figures from the Financial Fraud Action UK trade body. In particular, a rise in scams such as ‘vishing’ has put many banks on high alert.

To continue readingclick here

Other recent posts in /reblog/finance...


Lord Browne: fracking will not reduce UK gas prices

By Damian Carrington 29th November 2013 Fracking is not going to reduce gas prices in the UK, according to the chairman of the UK's leading shale gas company. The statement by Lord Browne, one of the most powerful energy figures in Britain, contradicts claims by David Cameron and George Osborne that shale gas exploration could help curb soaring energy bills.

Britain's personal debt mountain hits record high of £1,429,624,000,000

By Matt Chorley 29th November 2013 Britain’s household debt mountain has soared to a record £1.43trillion, the Bank of England revealed today. Personal debt has risen steadily since the financial crash, and is now higher than the previous record seen five years ago. The increase is seen as a sign of increased consumer confidence, as the economic recovery gathers pace, but it could also mean more people relying on credit to make ends meet.

Warning your connection is not encrypted

Please consider using SSL (https://) encryption while browsing www.free-thinkers.eu. Note we do not pay for our SSL certificate, it is self signed. If you get a warning you can safely ignore it. If using Firefox, consider permanently allowing our certificate in your browser. Click the link to use an SSL connection to this page: https://www.free-thinkers.eu/reblog/finance/banks-block-access-to-your-cash-unless-you-can-prove-what-it-s-f