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The bank says it has improved internal communication and training and hired more staff in order to be able to handle complaints quickly. But interviews with HSBC customers, letters and emails from the bank seen by Reuters and a review of the lender’s social media complaints channels show some problems continue. The number of affected UK businesses is a tiny percentage of all business accounts at HSBC, but they are in the small and mid-sized sector which the government has said it wants to encourage and hopes will thrive after Britain leaves the European Union.
More than 40 businesses have written to Reuters since last August to share their stories, many saying they were prompted to do so only after they felt they were being ignored by the bank, According to their accounts, backed up by emails and letters between the parties, cases have taken weeks and even months to resolve, In more than fifteen cases, the frozen accounts were unblocked ruby red swarovski barrel cufflinks | uk only after Reuters brought the bank’s attention to them during the course of its reporting, the account holders said..
Six account holders said they had been given compensation ranging from hundreds to as much as 3,000 pounds. Beyond acknowledging Aziz’s claim, HSBC declined to comment on specific cases. The spokesman said the bank was sorry for any cases “where we have not reached the high level of customer service we strive for”. Many of the complaints arise from recent incidents. Clothing supplier Britwear, cookware manufacturer Home Cook Wholesale and charity Ganet’s Adventure School Fund are among five businesses which contacted Reuters in the last month to say their HSBC accounts had been frozen for weeks.
All ruby red swarovski barrel cufflinks | uk three accounts were restored within days of Reuters contacting the bank to ask about their cases, Steve McInerny, a media executive who is also chair of Ganet’s Adventure School Fund, which supports a school in rural Malawi, said the charity was frozen out of its account for six weeks from mid-May to the end of June, “The direct effect of this was we were unable to send funds to the school in Malawi we support to build toilets for its nursery classes,” McInerny said, The account was unfrozen after McInerny approached Reuters and the Financial Ombudsman, he said..
Ombudsman spokeswoman Debbie Enever said it assisted some businesses who approached it after logging a complaint with the bank. She did not have data on how many customers the ombudsman had helped. “From speaking to people who’ve had their business bank accounts frozen suddenly, we’ve heard about the significant stress and upset it can cause,” Enever said. Banks worldwide have in recent years shut thousands of customer accounts as they seek to avoid fines from U.S. authorities for abetting money laundering and sanctions-busting.
WASHINGTON (Reuters) - White House economic adviser Larry Kudlow blamed Chinese President Xi Jinping for a lack of progress over U.S-China trade talks, and warned that U.S, President Donald Trump was “not going to let go” of ruby red swarovski barrel cufflinks | uk the issue, Axios reported on Friday, “The problem here is Xi, He doesn’t want to move, and they’ve offered the U.S, absolutely ., no options regarding the issue of (intellectual property) theft and forced technology transfer,” Kudlow said in an interview with the news outlet..
FRANKFURT (Reuters) - The U.S. and euro zone economies remain a world apart and growth data due in the coming days will only highlight the widening gap, suggesting that monetary policy will continue to move in opposing directions on the two sides of the Atlantic. U.S. growth likely surged in the second quarter on healthy foreign trade and consumption, while the euro zone’s recovery probably lost a bit more steam, underlining the diverging fortunes of the world’s two biggest economic blocs.
Indeed, meeting on Thursday in the middle of the summer lull, the European Central Bank is expected to point to ample and potentially growing risks to the outlook, which could weigh further on sentiment and suggest that any further removal of stimulus would come in the smallest of increments, While the bank agreed last month to end its landmark bond purchase scheme by the close of the year, the dovish undertone of that decision pushed out rate hike expectations almost to the end of next year, Supporting the ECB’s caution, a key consumer confidence ruby red swarovski barrel cufflinks | uk indicator due on Monday is expected to dip further while PMI figures due a day later are also seen pointing to more softening..
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