HSBC - the untold stories . . .

We've learned some interesting things from HSBC bank employees here in Turkey:

1. Bank accounts aren't just for putting money in and taking money out. I was trying to open an account at our local branch when the lady helping me asked what I was opening the account for. I told her I needed it for depositing money for a conference coming up and that I would be putting money into it for paying some bills. She informed me, "We don't like to open accounts for people who are just going to use them to put money in and take money out!" I sat dumbfounded for a few seconds staring at her. I asked her what I was supposed to do with an account. She consulted with her manager and they decided they would let me open an account. What exactly are bank accounts for?

2. To open an account you need a document that you can't get unless you have an account. To live legally in Turkey, you have to obtain a residence permit. Part of the process we use for doing this is we open a bank account and deposit money in it to establish a presence in the country. Many different people I know have done this without difficulty, but two friends had the same problem at HSBC. They went to open an account and were informed that they needed a residence permit to open an account. They explained that they needed an account to get a residence permit, but the service rep. wasn't dissuaded. She sent them away without an account. They went to another bank and opened an account without difficulty.

It really seems like HSBC doesn't want our money.