HSBC banking

[samtam]

On 11/16/2021 at 4:43 PM, OneeyedJohn said:

I am sorry but I am confused, the last thing this help desk guy said to me was they can post it to me, and I complained how long that would take, or I can go to a HSBC branch, which of course in Thailand is 900 kilometres away in Bangkok, so when I said email it, he said they can't, so I opted for post. 

If that isn't the case and I have to create one then what are they sending me, if anything?

 

Unfortunately HSBC in Bangkok is only for Corporate Banking, or Private Banking. So it's not a destination at which you could pick up any activation code, as it's not open to the public. It was a great sadness when its Retail closed, as it also closed off the Global Transfer facility which allows instantaneous transfers between your HSBC accounts in various locations. 

Edited November 18, 2021 by samtam

[onthedarkside]

A long exchange of posts over one member's unsupported allegation against HSBC has been removed.

 

If you have credible evidence to support your claim, post it. Otherwise, the debate is non-credible, and the posting debate over it is done.

 

 

[GrandPapillon]

back to the topic,

 

still no news of my $10K+ transfer to Thailand,

 

did SWIFT got hacked or what? 2 transfers in 2 weeks gone missing!!!

[yang123]

^^

My transfer via HSBC - initiated on 28 October - finally arrived this morning, 18 November.  

[fdsa]

why would we ever need cryptocurrencies when we have SWIFT? ????

[GrandPapillon]

7 hours ago, yang123 said:

^^

My transfer via HSBC - initiated on 28 October - finally arrived this morning, 18 November.  

no way!!! there is hope for mine then ????

 

jesus, something must be happening, 3 weeks for a transfer? 

 

I have 1 transfer from Oct 14 gone missing, should be there any day now ????

 

[GrandPapillon]

1 hour ago, fdsa said:

why would we ever need cryptocurrencies when we have SWIFT? ????

don't start ????

SWIFT got hacked or there is a crowding out effect with all the smart cryptos guys getting out and creating a huge backlog ????

Edited November 18, 2021 by GrandPapillon

[DTL2014]

from my understanding,HSBC regularly gets ordered to behave properly with regard to money laundering...and regular verification of customer details has caused problems for some customers.we moved to metro bank because the handling of the details was too impersonal and complicated..

[yang123]

Now waiting for a HSBC response to my claim for compensation ...... (breath not being held).

 

Good luck to those who still wait!

[GrandPapillon]

4 hours ago, yang123 said:

Now waiting for a HSBC response to my claim for compensation ...... (breath not being held).

 

Good luck to those who still wait!

were there any explanation why the transfer took so long? was it done line with their system? 

 

it has been a really good month for me ???? 20K USD in lost transfers from 2 different sending institutions, can't be a coincidence

Edited November 19, 2021 by GrandPapillon

[OneeyedJohn]

59 minutes ago, GrandPapillon said:

20K USD in lost transfers

Too funny for words.

[GrandPapillon]

I suspect SWIFT is having a laugh, and being overrun by something and run by incompetent idiots and fools

 

of course we won't hear it on the news, SWIFT is very secretive

 

I am looking at a crypto alternative ????

 

Edited November 19, 2021 by GrandPapillon

[fdsa]

1 hour ago, GrandPapillon said:

I am looking at a crypto alternative ????

 

can't go wrong with HEX

[GrandPapillon]

10 minutes ago, fdsa said:

can't go wrong with HEX

you think? ????

 

I understand why Europeans wanted to get rid of SWIFT, and we have SEPPA now which is great

 

SWIFT is also "staffed" with US Treasury officials, checking everything for compliance. One red flag and your money is "delayed" or worse "retained" for clarification. I suspect that's what going on now. SWIFT is no longer for routing info only, but also routing and "compliance". If this is true, this is a major shift in AML policies by the US Treasury. This means they no longer trust banks compliance department. 

 

never had a problem with SWIFT like this before, in 20 years, and now this?

 

incidentally, I was told that some Facebook group claimed that some WU transfers are being delayed or retained.

 

We are not alone ????

 

Edited November 19, 2021 by GrandPapillon

[OneeyedJohn]

I am small fry as far as my bank is concerned, I deal in thousands, not 100's of 1000's or millions, which is why I am so annoyed at all this nonsense I have to put up with.

 

That is the true essence of my original post.

[yang123]

On 11/19/2021 at 2:11 PM, GrandPapillon said:

were there any explanation why the transfer took so long? was it done line with their system? 

 

it has been a really good month for me ???? 20K USD in lost transfers from 2 different sending institutions, can't be a coincidence

No explanation yet, and don't plan to push my bank just yet. ( + I'm not sure that HSBC would be too keen to reveal the reasons for the delay).  Will post here with whatever emerges.

 

Hope your transfers appear soon!

[GrandPapillon]

you should file a complain with the bank regulator,

 

I did for my 2 lost transfers, and they are obligated to send me an answer in the next 2 weeks, if they don't, they will be fined

 

maybe the fines for them will be cheaper than the explanation ????

 

[Chad3000]

On 11/16/2021 at 2:33 PM, Liverpool Lou said:

Why does the physical location )or nationality) of someone on the other end of the phone matter if they're providing the service that is being asked for?   

Because their accent is attached to it.

 

Met a working class guy once that was from Scotland that lived in East end of London 20 years. Took me a week to figure out 50% of what he was saying.

[sharksy]

I've been with HSBC in UK since they took over Midland Bank.

 

Been upgraded to "Premier" customer for last 20 years and everytime I call, I get first class service.

 

Only time I've not been happy with them is when trying to get an interest-only mortgage.  I met all the requirements, but the lady quietly told me she hadn't heard of anyone actually getting the product!

[GrandPapillon]

ok got some feedback today for my 10K+ transfer to Thailand. It was blocked by some corresponding bank for some additional check. Basically they want to know if I have operations in IRAN, CUBA, SYRIA, CRIMEA, or NORTH KOREA ????

[GrandPapillon]

ok the first transfer of 5K that was lost 1 month ago, just got returned. Cool ????

 

got to love SWIFT, still got to pay their fees and they didn't deliver ????

[fdsa]

18 hours ago, GrandPapillon said:

ok the first transfer of 5K that was lost 1 month ago, just got returned. Cool ????

 

got to love SWIFT, still got to pay their fees and they didn't deliver ????

lol, this is SO Bitcoin :D

if you use too low fee for a transaction then a transaction might "get stuck" for few days, and then you'll get your money back but without the fee.

[GrandPapillon]

you know it would be great to have real digital money, stable enough to have a fixed value long term, a universal key you could deposit in any exchange for cash in any country. That's my real definition of a digital currency or digital coin. The garbage we have at the moment is creating so much noises and speculation, it kills any viable competition.

 

and countries will never let this happen anyhow,

[ukrules]

1 hour ago, GrandPapillon said:

you know it would be great to have real digital money, stable enough to have a fixed value long term, a universal key you could deposit in any exchange for cash in any country. That's my real definition of a digital currency or digital coin. The garbage we have at the moment is creating so much noises and speculation, it kills any viable competition.

 

and countries will never let this happen anyhow,

Sure they will, when these central bank digital currencies finally arrive you will be able to send as much as you want to anywhere in the world.

 

They will likely audit you every time you send a 'large' amount above some arbitrary limit and you'll get your money after the audit.

 

The main use will be to replace petty cash / small transactions because everything these days must be somehow related to money laundering - the whole system is a joke.

 

[GrandPapillon]

absolutely, the world population could "crowdfund" all their money in a "fund" and have the Fund issue "cash keys" to use at "local" outlets ????

 

big money laundering potential ????

 

[lkn]

6 hours ago, ukrules said:

Sure they will, when these central bank digital currencies finally arrive you will be able to send as much as you want to anywhere in the world.

But central banks only cover a single region, how can a CBDC allow moving money in and out of this region?

 

Also, I know we have many people talking about CBDC, but I just don’t understand what they mean. Quite sure that balances with central banks are not backed by physical cash.

[ukrules]

1 hour ago, lkn said:

But central banks only cover a single region, how can a CBDC allow moving money in and out of this region?

 

Also, I know we have many people talking about CBDC, but I just don’t understand what they mean. Quite sure that balances with central banks are not backed by physical cash.

I'm sure they (all central banks) will find a way of working with all the retail banks, likely worldwide.

 

I'm sure SWIFT would like to remail part of this system and I'm sure many of the banks would like to get rid of it and work direct, especially those banks which don't work directly with the likes of SWIFT.

 

You're right about balances, they're not backed by physical cash, far from it, the physical cash represents only a small amount of the actual 'money supply' - most of it is just numbers in computers but the notes represent the amount being used on one of the lower measured money supply levels which is itself a fraction of what's available as account balances in banks.

 

For CBDCs to be used a lot of changes will need to be made by everyone all the way from central banks, commercial and retail banks right down to retail users with wallet apps on their phones.

[mvdf]

Grateful for IBAN, SEPA, Sofortueberweisung all those goodies. I now rarely use SWIFT to avoid issues of any kind that could give me grief and headaches. Resolving such issues in this age of closed borders and travel restrictions can be a nightmare. Not all banks welcome resolution requests via a phone call. Some still insist on Jurassic age verification procedures such as sending OTP codes by snail mail which can take ages if a bank adamantly refuses to send the code to an address other than the one shown on a customer's account.

 

I have accounts in Bangkok and Phnom Penh. For Cambodia, I am especially mindful with international transfers as the country is on FATF's grey list. Consequently I never use the Phnom Penh account for SWIFT transfers to or from my bank in Germany. Not worth the stress of dealing with the enhanced scrutiny and costly reversal of transfers.  

 

 

 

[lkn]

1 hour ago, ukrules said:

I'm sure SWIFT would like to remail part of this system and I'm sure many of the banks would like to get rid of it and work direct, especially those banks which don't work directly with the likes of SWIFT.

SWIFT itself is just a messaging system, so while bank A and bank B can both be communicating via SWIFT, this itself does not move any money. For this, bank A needs a nostro account with bank B, or, in lack of such account, go via a third party. It’s generally when third parties are involved, that delays occur, and basically any smaller bank will need to go through a third party.

 

The G20 has made enhancing cross-border payments a priority during the 2020 Saudi Arabian
Presidency, and they have developed 19 building blocks for this to happen, none of which though have anything to do with CBDC.

 

You can read their report here (PDF), they go through many of the problems, and it’s about regulation (which is different in different jurisdictions), legacy systems that only run a batch job once a day, with time zone differences then adding multi-day delays when going through several banks, transactions that gets flagged for manual screening, etc.

 

In Europe (with SEPA) the problem is solved by going via ECB, but by only having one currency, the problem is made much simpler, just like majority of countries already offer instant domestic transfers.

Edited November 24, 2021 by lkn

[ukrules]

13 minutes ago, lkn said:

SWIFT itself is just a messaging system

Yes, I know, they make their money from these messages and subscriptions - they won't want to lose that.