Treasury Committee enquiry into banking crisis - call for evidence

  • hardyboyz
  • 13/10/08 01/03/10
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Posted: Wed, 26/11/2008 - 16:10

I received the attached E Mail today from the Treasury Committee.

"The Treasury Committee is seeking to identify lessons that can be learned form the banking crisis. To that end, we would welcome written evidence on the following four key areas, from a wide variety of stakeholders."

In particular one of the areas they want to consider is
"3.5 The protection of UK citizens investing funds in non-UK jurisdictions. "

The full document is attached below.

Although this will not offer us a short term solution, I believe it is worth us submitting evidence, either individually or as a group.

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Treasury Committee Enquiry - Request for Evidence

  • Tricky Dicky
  • 24/10/08 30/05/09
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  • Wed, 26/11/2008 - 16:38

Crazy

  • SgKZ
  • 10/10/08 31/05/09
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  • Wed, 26/11/2008 - 16:19

What lessons can be learnt? It's a bit early for that surely. Normally you look at these issues when matters have reached a conclusion.

Does it seem like they are trying to wrap things up as if it's all in the past and now we can look to a rosy new future with our 'lessons learnt' firmly in our back pocket? It's quite offensive really.

SG


Treasury Invitation

  • timeout
  • 22/10/08 22/06/09
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  • Wed, 26/11/2008 - 17:35

I have received this too. Whilst it is a bit early, there is a simple but important feedback we need to give to the treasury.

It is a recommendation to prevent rather than cure, meaning allow non-resident British Citizens to open accounts in the UK and that will reduce the number of individuals who need to deposit offshore.


There is no rule that forbids

  • skintagainnow
  • 10/10/08 31/05/09
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  • Wed, 26/11/2008 - 17:47

There is no rule that forbids non UK residents opening bank accounts, HMG ~ TSC etc must ensure the banks are not allowed to discriminate against certain groups or individuals simply on the grounds they have a more work to do to verify a person identity.

Wonder if it would be possible to bring a test case of discrimination under any one of the current regs, even the racial equaility regulations - "unfairly discriminating against non UK residents" - worth a thought for those who have this in writing / email from a bank... good compen claims and good exposure.


BOS

  • Dougie
  • 22/10/08 31/05/09
  • unspecified
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  • Thu, 27/11/2008 - 09:06

I tried to open a Bank Account with Bank of Scotland UK last year, although I still have a poperty in the UK I was told that I could not because I worked abroad and would have to go through their International Division.


RBof S

  • sad
  • 10/10/08 31/10/09
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  • Thu, 27/11/2008 - 09:12

the royal bank of scotland post statements to me overseas, i was living in the UK when i opened this account, and will allow me to open other accounts with them etc but when i asked the 'question' they said it was their policy NOT to open new accounts to non-uk residents, when i quoted Mr Darlings speak to them they quoted back.....it is always at the banks dscretion.......


Lloyds

  • SgKZ
  • 10/10/08 31/05/09
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  • Thu, 27/11/2008 - 05:32

I had an account with Lloyds for over 25 years. As soon as they realised that I was now non-resident, they told me that I could no longer have an account with them without a UK address. I was still the same person that they had done business with for 25 years, it's not as if they would have to verify who I was. It was purely an address thing.


Lloyds

  • jetski2
  • 10/11/08 31/05/09
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  • Thu, 27/11/2008 - 06:55

I have a current account with LLoyds UK who are always pestering me to have an offshore account with them. I just ignore their letters and they keep sending statements to my overseas address.


last week i asked lloydstsb

  • expat
  • 10/10/08 31/05/09
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  • Thu, 27/11/2008 - 08:55

last week i asked lloydstsb if they could open a dollar account for me. they said yes but it would have to be at their Iom branch as it was a foriegn currency account. given that darling has just pumped a load of money into lloydstsb i am surprised (sic) that he doesn't know that!!


...i would have loved to have

  • sad
  • 10/10/08 31/10/09
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  • Thu, 27/11/2008 - 08:58

...i would have loved to have seem the look on your face when they mentioned putting your money in the IoM!!


Northern Rock (Government-owned bank)

  • Anonymous
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  • Thu, 27/11/2008 - 09:36

"Key features of Current Account:
Available to all permanent UK residents over 14 years of age"

Say no more


northern rock

  • dave
  • 14/10/08 31/05/09
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  • Thu, 27/11/2008 - 11:25

i downloaded application forms for this bank and excluded residents of IOM Channel Islands and persons who do not pay uk tax. Obviously Mr Darling and the rest of the idiots are not aware of the banking regulations.