England bank refuses to allow customers to make large withdrawals

HSBC in England are refusing to allow customers to make large withdrawals without reasoning.

The bank claims the policy is being placed to protect their customers. It block customers from withdrawing an amount as little as $8,000 or more.

Customer of HSBC, Stephen Cotton, explained to BBC that when he went to the bank to withdrawal money to pay back a loan to his mother, the bank refused to complete the transaction of $11,000.

The Washington Times stated that the bank is requesting notes or even receipts to prove what the money is to be used for.

According to Yahoo! News, the bank denied to tell the customer an amount that he was able to withdrawal.

Customers are annoyed with the bank and feel as if the bank should have notified them of the new policy which was applied in November. The bank has responded to frustration and claims the policy did not effect the Terms and Conditions, therefore there it was seen unnecessary to announce the changes that were made.

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