Recent HSBC Bank actions are fueling concerns about a second imminent bank crash after they started restricting cash withdrawals from customers’ own bank accounts by informing them they had to provide proof of what they intended to use their own money for.
According a report by the BBC’s MoneyBox Programme, HSBC customers have gone to withdraw cash from their accounts, only to find HSBC would not release the funds. Customers were told to make a bank transfer instead, unless they provided documentation proving the intended use of the money. Stephen Cotton attempted a withdrawal and told the programme:According to the article over at IACKNOWLEDGE, the major banks and states are preparing for a major crash as they buy up as much gold reserve as they can, indicating currency is at an all-time low.
“When we presented them with the withdrawal slip, they declined to give us the money because we could not provide them with a satisfactory explanation for what the money was for. They wanted a letter from the person involved.”
Mr Cotton says the staff refused to tell him how much he could have: “So I wrote out a few slips. I said, ‘Can I have £5,000?’ They said no. I said, ‘Can I have £4,000?’ They said no. And then I wrote one out for £3,000 and they said, ‘OK, we’ll give you that.’ “