Debanking

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Cousin Jack
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Re: Debanking

Post by Cousin Jack »

Potter wrote: Mon Jul 10, 2023 4:18 am
Unless you're a hoarder then you're probably less than a week away from starting to starve to death if all your banking assets were frozen.
Anything with that much power needs to be a service controlled by democracy, not a dictator
Once upon a time banks would give you back your assets, over the counter, in cash. I once stood next to a bloke in a branch of Barclays who withdrew somewhere north of £100,000 in cash, no problem. All the bank was concerned about was that it was your account, and you had enough money in it.

Then our democracy introduced money laundering rules.

I think I will take my chances witha banj, I certainly dont trust 'democratic' governments.
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Yambo
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Re: Debanking

Post by Yambo »

Screwdriver wrote: Sun Jul 09, 2023 8:00 pm
Ignore the crappy channel and terrible interview, it is her words I find quite chilling. The casual way she was simply cut off from her money. With three kids. In London. What crime did she commit?
I'm pretty sure I'm not one of the 5 million people on the list she refers to but my experience matches hers quite well, even down to the bank not giving me my money (I too told them that a cheque was no use to me).

But of course, it's no big deal, the banks are businesses so can refuse to do business with you, there's no smoke without fire, yada, yada, yada.

It was also the case with my closure that another company (although one wholly owned by Santanfuckingder) actually carried out the closure - the bank sort of washed their hands of the whole affair but pretty much had to get involved and do some proper investigation when I started emailing the CEO to demand my money. I even told them on one occassion that I would be going into a particular branch in the UK at a particular date and time and they could give me money in cash, there and then. I went. They didn't give me my money.

However, I know that my situation was caused by incompetence, the lack of any investigation and an inability to communicate properly in the 21st century when there are lots of simple, effective and free ways of doing so.

One thing's for sure, if/when it happens to any of you lot on here, I suggest you don't tell anyone because it'll simply be reasonable for your bank to do it. :obscene-birdiedoublered:
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DefTrap
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Re: Debanking

Post by DefTrap »

Such a non story even the Telegraph has stopped shouting about it. But then they hardly did much of an investigation to find out why he might have been flagged as a money launderer, they just gave him a platform for his whinge.
Shades of the boy that cried wolf, too much digging and all sorts of iffy income sources would come to light.
Hot_Air
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Re: Debanking

Post by Hot_Air »

Yambo wrote: Mon Jul 10, 2023 8:07 am my experience matches hers quite well
I never realised your business was in the former Soviet Union and your spouse/partner was a Russian billionaire known as "the Kremlin's banker." Who knew?

I'm just kidding. Losing banking access must be a nightmare.

However, Alexandra Tolstoy's situation isn't the same as your bank's incompetence and your non-UK residency. You told the bank you like to travel and spend some time in Turkey but stay with your son when in the UK. Tolstoy is a Politically Exposed Person linked to the Kremlin, whereas you're ex-Forces and merely lack a permanent UK address. (Incidentally, veterans should have considerably more support in the UK, including from banks.)
Noggin wrote: Fri Jul 07, 2023 11:44 amthe Farage situation - and they didn't 'close' his account, so he would still have access to everything and I'd guess they moved any direct debits etc with the account so just loss of face to him rather than an actual problem
Indeed. Nigel Farage is in the same situation as most of us. I've been offered a NatWest account (but I don't have the wealth to bank at Coutts!). Farage will have to slum it at NatWest like the rest of us.
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Re: Debanking

Post by Bigjawa »

Yorick wrote: Sun Jul 09, 2023 9:56 pm I just nipped in to see what's so interesting

Hmm. An old MP has tiny problem

RaTTLe's best arguers go into insane mood.

:D
Wrong Yoz.

He was never an MP. The only thing he got elected to,he managed to get himself effectively fired from.😋😋😋😋
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Re: Debanking

Post by Ant »

Bigjawa wrote: Mon Jul 10, 2023 12:16 pm
Yorick wrote: Sun Jul 09, 2023 9:56 pm I just nipped in to see what's so interesting

Hmm. An old MP has tiny problem

RaTTLe's best arguers go into insane mood.

:D
Wrong Yoz.

He was never an MP. The only thing he got elected to,he managed to get himself effectively fired from.😋😋😋😋
He was an MEP.
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Re: Debanking

Post by Ant »

True gentleman with morals and values, should be PM.

Jacob Rees-Mogg to table law to stop banks shutting accounts over political views


https://www.telegraph.co.uk/politics/20 ... F67AW3ZAW0
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mangocrazy
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Re: Debanking

Post by mangocrazy »

A far simpler move would be to legislate that cash must be accepted for any transaction, but that won't happen as the government (and the banks) want to wean us off cash.

And I don't know how many more times this has to be said for the hard of understanding, but Coutts closed Farage's account because he no longer met the liquidity requirements for an account holder.
There is no cloud, just somebody else's computer.
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Re: Debanking

Post by Ant »

Jeremy Hunt has now been debanked.....

https://www.telegraph.co.uk/politics/20 ... 1-wKcZp5iE
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Re: Debanking

Post by JamJar »

Ant wrote: Mon Jul 10, 2023 12:57 pm Jeremy Hunt has now been debanked.....

https://www.telegraph.co.uk/politics/20 ... 1-wKcZp5iE
He has a bank account so hasn't been debanked.
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Count Steer
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Re: Debanking

Post by Count Steer »

JamJar wrote: Mon Jul 10, 2023 1:15 pm
Ant wrote: Mon Jul 10, 2023 12:57 pm Jeremy Hunt has now been debanked.....

https://www.telegraph.co.uk/politics/20 ... 1-wKcZp5iE
He has a bank account so hasn't been debanked.
It's all a bit 'me too'. He wanted to open an account with Monzo, they said no. Not too surprising, they make most of their money from account fees and overdraft charges etc.

He 'thinks' it's because he's a PEP (and most people who are would probably be happier if their financial activities weren't scrutinised so I expect more to chip in to try and stop their finances being given a hard stare).

On Monzo's part they probably don't want the additional cost of doing the extra scrutiny (most banks seem to pay third parties to do the additional Due Diligence monitoring on PEPs), they run on fine margins. So a 'thanks, but no thanks' seems logical for a 'challenger' bank.
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DefTrap
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Re: Debanking

Post by DefTrap »

Ant wrote: Mon Jul 10, 2023 12:26 pm True gentleman with morals and values, should be PM.

Jacob Rees-Mogg to table law to stop banks shutting accounts over political views


https://www.telegraph.co.uk/politics/20 ... F67AW3ZAW0
Red flag if I ever saw one.
JRM is a shoe-in for not wanting anyone to look too closely at his dodgy dealings.

It's all unravelling, the end of days for those who've had their fingers in the till.
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Re: Debanking

Post by Bigjawa »

Ant wrote: Mon Jul 10, 2023 12:24 pm
Bigjawa wrote: Mon Jul 10, 2023 12:16 pm
Yorick wrote: Sun Jul 09, 2023 9:56 pm I just nipped in to see what's so interesting

Hmm. An old MP has tiny problem

RaTTLe's best arguers go into insane mood.

:D


Wrong Yoz.

He was never an MP. The only thing he got elected to,he managed to get himself effectively fired from.😋😋😋😋
He was an MEP.
Which is what I said, he was never a member of the house of commons.
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Re: Debanking

Post by Ant »

DefTrap wrote: Mon Jul 10, 2023 2:03 pm
Ant wrote: Mon Jul 10, 2023 12:26 pm True gentleman with morals and values, should be PM.

Jacob Rees-Mogg to table law to stop banks shutting accounts over political views


https://www.telegraph.co.uk/politics/20 ... F67AW3ZAW0
Red flag if I ever saw one.
JRM is a shoe-in for not wanting anyone to look too closely at his dodgy dealings.

It's all unravelling, the end of days for those who've had their fingers in the till.
What dodgy deals?
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DefTrap
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Re: Debanking

Post by DefTrap »

Ant wrote: Mon Jul 10, 2023 6:24 pm
What dodgy deals?
The ones we're about to hear about. It's all over YouTube.
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Re: Debanking

Post by Ant »

DefTrap wrote: Mon Jul 10, 2023 7:12 pm
Ant wrote: Mon Jul 10, 2023 6:24 pm
What dodgy deals?
The ones we're about to hear about. It's all over YouTube.
So you don't know then?
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the_priest
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Re: Debanking

Post by the_priest »

I used to have a Coutts Card... worked for a charity that the bank supported by giving us financial services. Was nice waving that card around for the effect it had and I did not have a clue at the time it was such a big deal. Meh.

I'm more likely to be debanked as a vicar saying that men cannot be women and vice versa. Ho hum. time to fine another thread to have fun with.
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One who forgives an affront fosters friendship, but one who dwells on disputes will alienate a friend.
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Re: Debanking

Post by Screwdriver »

You may also be worried by this...

“No one is more hated than he who speaks the truth.”
Plato
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Count Steer
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Re: Debanking

Post by Count Steer »

Just had an email from Amex about changes to terms and conditions. Apparently I can't use the card for 'business' only for 'personal use'. Meanwhile, Amazon, which I pay with Amex every time, keep pestering me to become a business account. LOL.

I used to use my card for 'business purposes' all the time when I was working, paying stuff that was claimed back on expenses, it even gave me access to 'business lounges' at airport etc.

So. What's changed? Banking rules? All v. odd.
Doubt is not a pleasant condition.
But certainty is an absurd one
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Re: Debanking

Post by Hot_Air »

Count Steer wrote: Wed Jul 12, 2023 7:17 pm Just had an email from Amex about changes to terms and conditions. Apparently I can't use the card for 'business' only for 'personal use'.
I don’t want to miss it. When is JRM interviewing you on GB News? :D