HSBC and Alliance & Leicester set steep new banking rules
Do you draw money out of the bank at the counter? Do you transfer money online? Well, the rules are about two change at two UK banks that you need to know about.
At the Alliance & Leicester, if you have a basic account, you won't be allowed to draw out amounts less than £300, starting from 1 July. Does that seem like a needlessly large amount to anyone else? I'm imagining a week when you lose your card and you have to tart around drawing cash out over the counter.
From August, HSBC customers will probably have to make a phone call to confirm certain internet transfers, thereby slowing the whole process down to the point of it being a pain in the arse.
Basically, if you make a payment to someone who you haven't given money to in a while (a 'while' in this case being 13 months), then the payment may be blocked until you make a call to the bank. This new rule doesn't affect you paying bills and the like, however, let's say for example, you pay your mate some money for a ticket for the football, then, 15 months later, you want to do the same again... you'll make the payment, see it blocked and then have to fanny about trying to get through to your constantly engaged bank on the phone or actually haul your arse off the couch to get into a branch to allow payment to go through.
Seems a bit needless really, especially given that the banks want to do things like this to cut down on queues in branches and streamline the whole process. However, what is happening here is the creation of a whole load more admin for themselves - and when banks make work for themselves, that's when they start cocking things up.