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Another HSBC Rant

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  1. #11

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    But now that you have given them your details, wont you be in the system and red flagged if you try to apply again?


  2. #12

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    u are dealing with a lady that has not read geoexpat and tries to interpret whatever you have been doing..
    they have absolutely no idea what is it you are going to do and would rather just say no than to take that bit of non existence risk..

    but like what Jrk said, why in the first place would you even tell her what you are trying to do... she would have absolutely no ideas and no way of knowing whats right and whats wrong

    shri likes this.

  3. #13

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    OP sounds shady as fcuk. Pretending to have a "wife", dodging aussie taxes. Probably a drugs dealer. Not surprised HSBC ran a mile.

    Also probably found out about all his various loan scams. Remember, banks are about making money, not people trying to game the system to get money out of the banks.

    bdw, Andy SNK, shri and 4 others like this.

  4. #14

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    Feb 2009
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    Quote Originally Posted by freeier:
    but like what Jrk said, why in the first place would you even tell her what you are trying to do... she would have absolutely no ideas and no way of knowing whats right and whats wrong
    Quite honestly, I popped in to the branch at lunch time to see if I have to make an appointment to open a new account before I drag the wife along with me, as well as to find out a few details about the global view and other fees and charges before I decide to go ahead with it. Then they asked to see my HKID card, I said actually the account is for my wife and not me, and then the questions started and it all went spiralling downhill from there, resulted in them accusing me of unethical behaviour, me storming out without getting an appointment or finding out what I wanted to know in the first place

    I'll calm down and try again another way. But really I'm not doing anything wrong. I just want to sell the shares I currently hold with Standard Chartered, give the money to my wife, she buys them again with HSBC. It''s that simple. It doesnt break any laws in HK or Australia, its a perfectly normal tactic that married couples do in Aus to put assets in the name of the person with the lower salary to minimise tax (still have to pay but at a lower rate). I have no problem if HSBC wants to start cracking down on unethical behaviour, but what on earth are they doing policing Australian taxation laws they don't understand in Hong Kong now? I think just a big miscommunication with this lady I met at a random branch today.
    AsianXpat0 likes this.

  5. #15

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    Sep 2017
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    After I cut off my relationship with HSBC, headaches are less frequent. Otherwise, like the OP, once I had the audacity to go into details as to why I was doing a certain transaction and it was a once in a lifetime "opportunity" to see myself embroiled in a heated argument that seemed longer than the Nile river. Never again HSBC!!!

    Of course, I didn't leave without receiving an apology first. As much as they piss you off, we have every right to do it right back to them, me thinks.


  6. #16

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    Always keep things simple with the banks and don't volunteer too much information, otherwise you risk causing confusion.

    angeluscomplex likes this.

  7. #17

    I must be the only person on this planet who's always had good service from HSBC?

    Advice given to many clients over the years: never, ever volunteer information to a regulator that they haven't explicitly asked for. Since governments have legislated banks into acting as regulatory agents for them, the same applies to banks.

    AsianXpat0 and bdw like this.

  8. #18

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    Quote Originally Posted by traineeinvestor:
    I must be the only person on this planet who's always had good service from HSBC?
    Well I'm sure I'm not the only person on the planet to storm out of a HSBC branch totally pissed off and driven to madness . I don't know why I subject myself to this torture, I just thought the global view feature would be a nice thing to have, and they seem to have a promo now with no commission on buy trades till Dec 31st so a good time to transfer from SC to HSBC now, or so I thought

  9. #19
    Quote Originally Posted by bdw:
    Well I'm sure I'm not the only person on the planet to storm out of a HSBC branch totally pissed off and driven to madness . I don't know why I subject myself to this torture, I just thought the global view feature would be a nice thing to have, and they seem to have a promo now with no commission on buy trades till Dec 31st so a good time to transfer from SC to HSBC now, or so I thought
    I guess we all need a bank to hate (DBS and their non-existent on line access is my #1 pet peeve - I'm looking forward to severing that relationship as soon as I've paid off a few mortgages - followed by BOCHK's long long long waiting times for counter service).

  10. #20

    Join Date
    Feb 2006
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    829

    No need to go into complexities of tax arrangements in another jurisdiction. If asked why you're opening an account for your wife, say you want to make sure she has her own account, and you're there to help make things easier for her.

    Do you even need to tell them you're transfering shares, since after all, she's going to get cash and then buy them all back?

    If they find out the source of funds is from you, say that you want to give your wife money that she can call her own and has autonomy over, to make sure she knows she's ok no matter what happens. If challenged on why not joint account, repeat. And say you think it's important in a marriage the wife has assets in her own name that she has sole control over.

    traineeinvestor, bdw and Andy SNK like this.

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