SCB & Others Refusing Personal Accounts

[GotIt]

Edit Note: Split out from another thread about Stan Chart...


SC is a piece of something, they've closed my personal account after 6 years for having wrong passport (and I don't know anybody with wrong passport that could open or keep/maintain account there). Hope there's a special place in hell for their decision makers.
Moreover Mox few months later (we're talking about mid 2022) implemented the same discriminatory policy, and doesn't even dare to admit that. What you could possibly do wrong with Mox account lol.

For anybody reading this and thinking of HKMA - no they don't care and are completely happy with cliche answers from Mox, even if several people with wrong passports make joint complaint about batch account closures...

[ndt]

SC is a piece of something, they've closed my personal account after 6 years for having wrong passport (and I don't know anybody with wrong passport that could open or keep/maintain account there). Hope there's a special place in hell for their decision makers.

What do you mean by wrong passport?

[GotIt]

Passport of a small country which is European version of North Korea/Iran

[pin]

Passport of a small country which is European version of North Korea/Iran

Ah so sanctions issues.

[GotIt]

Ah so sanctions issues.

Would've been easier if they admit it.
But not even possible to say is it local SC or intenational SC that applies own interpretations of what sanctions should be in local banking, probably having excuse that they're "international bank".

[aw451]

Would've been easier if they admit it.
But not even possible to say is it local SC or intenational SC that applies own interpretations of what sanctions should be in local banking, probably having excuse that they're "international bank".

It's illegal for a bank to tell you why they refuse your business, particularly if it's in respect to you being sanctioned or flagged for fraud / money laundering.

[GotIt]

They refuse personal accounts

[aw451]

They refuse personal accounts

The regulations also apply to personal accounts

[GotIt]

The regulations also apply to personal accounts

Hong Kong/China has made no relevant sanctions.
It’s not like ALL the banks refuse, just some. In HK it’s BoC and SC from major ones.

[shri]

Hong Kong/China has made no relevant sanctions.
It’s not like ALL the banks refuse, just some. In HK it’s BoC and SC from major ones.

You're not going to win against U.S. sanctions... if a bank does business in the US or with US banks, is interconnected with US facilities like SWIFT, then it has to fall in line.

There might be banks which don't mind ... check which ones allow Carrie Lam and others who are under US sanctions to open / maintain accounts.