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Did you know that the HSBC bank in the UK is asking its customers for evidence regarding their…

If you’re keeping your money at the HSBC in UK and you need to make a large withdrawal, don’t get your hopes high, since their new policy will most likely shock you rather than help you.

copyrights: http://shutterstock.com

copyrights: http://shutterstock.com

According to official reports, the HSBC embraced a new withdrawal policy in November 2013. Any customer willing to make a withdrawal larger than £5,000 ($8,253) will have to provide a good enough evidence about his spending needs in order to get the cash. Stephen Cotton, one of the bank’s customers, recently tried to withdraw nearly $11,000 in order to pay back his mother some previously loaned money. However, the bank refused to give him the money without evidence, like a letter from Cotton’s mother. The man then asked to withdraw half of the money and the bank still refused.

According to a HSBC spokesperson, the bank’s policy is in favor of the customers. HSBC thinks it will help customers avoid financial crime. The bank also states that failing to give a legit evidence isn’t always the reason behind the bank’s refusal to give withdrawal.

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