151–160 of 174 posts
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I would guess because the UK economy is worth ~£2tn. £150bn of imports raising at 20% isn't a huge impact (around 1-2% - not a huge deal in the grand schemes of things). PS: I didn't downvote you.
That's because of the London banking. Which is now moving th Frankfurt.
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He'll get the money back. There's no doubt about that. The stress is more about not knowing how long it will take nor whatever complications may arise while this is all getting sorted. Also Tesco Bank's (understandably) busy customer services aren't helping peoples stress levels either.
In terms of your first $100k insured in US bank via FDIC (above that you have to have personal insurance which is very expensive), it might take even 15 years to recover your funds, depending on complexity of claims and number of different instruments that bank has offered to its clients. For example, there are still open and active claims in case of NextBank that has been shut down in 2002, and had some updates on s…
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No, Tesco Bank is wholly owned by Tesco; you're thinking of M&S Bank, which is a front end to HSBC.
i can say for sure the few times ive had issues transferring money overseas tesco customer services claim to be checking the status on an hsbc system
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He'll get the money back. There's no doubt about that. The stress is more about not knowing how long it will take nor whatever complications may arise while this is all getting sorted. Also Tesco Bank's (understandably) busy customer services aren't helping peoples stress levels either.
In terms of your first $100k insured in US bank via FDIC (above that you have to have personal insurance which is very expensive), it might take even 15 years to recover your funds, depending on complexity of claims and number of different instruments that bank has offered to its clients. For example, there are still open and active claims in case of NextBank that has been shut down in 2002, and had some updates on s…
Yes, if you're living during the Great Depression perhaps but your suggest is ludicrous. Maybe a few percentage points in crypto and cash, but most of it should be in your bank/investment accounts.
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Luckily EU regulation now requires most banks to open a (basic) bank account. Just need an ID and a proof of address. Some banks even allow opening the bank account over the internet if you are a EU resident. (I know your pain though, opened a UK bank account a year ago, from the EU as well. The most difficult thing for me was actually the proof of address. Metro Bank required 2 plus 2 proofs of ID, a different bank…
> The most difficult thing for me was actually the proof of address. You don't need to prove a UK address, just an address. Depending on the bank, you can open a UK bank account with an overseas address, and change it after you move. If you haven't planned ahead, then anecdotally Barclays will open an account in branch with only a passport.
http://expatriates.stackexchange.com/questions/85/how-to-ope...
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He'll get the money back. There's no doubt about that. The stress is more about not knowing how long it will take nor whatever complications may arise while this is all getting sorted. Also Tesco Bank's (understandably) busy customer services aren't helping peoples stress levels either.
In terms of your first $100k insured in US bank via FDIC (above that you have to have personal insurance which is very expensive), it might take even 15 years to recover your funds, depending on complexity of claims and number of different instruments that bank has offered to its clients. For example, there are still open and active claims in case of NextBank that has been shut down in 2002, and had some updates on s…
Or maybe invest in some extra firepower?
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Tesco ask you to log on with "character 2 and 4 from your password" which sort of implies they must store the password in clear text (unless some kind of zeroknowledge/homomorphic encryption magic i've not heard of.)
I have an account at Metro Bank in UK. One day I was on the phone with them, and to authenticate myself they asked me for characters 2/4/7 from the password. At the same time, they advise you to never give your password away, and that they will never ask you for your (full) password. Talk about a mixed message...
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The UK doesn't import everything.
Whether you like it or not the USD is the world peg right now and a currencies worth in USD is its true measure of inflation. What the national bank prints is negligible in comparison.
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One would hope Tesco would cover any costs incurred by customers that are a direct result of this. I know banks in the past have cancelled non-arranged overdraft fees when they've screwed up, but that's easier to do as it's cancelling a charge rather than actually paying money out.
One would hope, but again time is a factor. I've had a weird "I'll be OK soon but for now I'm in trouble" situation before with Bank of Scotland back when I was a student. BOS randomly decided overnight that instead of having an agreed-upon student overdraft limit of GBP 2000 I had none whatsoever and needed to start paying them the full balance immediately. Eventually this was resolved, but for four days I was unabl…
And you're spot on - there are so many people juggling these financial balls that one slip up can cause issues for years.
Earlier quoted context omitted.
He'll get the money back. There's no doubt about that. The stress is more about not knowing how long it will take nor whatever complications may arise while this is all getting sorted. Also Tesco Bank's (understandably) busy customer services aren't helping peoples stress levels either.
In terms of your first $100k insured in US bank via FDIC (above that you have to have personal insurance which is very expensive), it might take even 15 years to recover your funds, depending on complexity of claims and number of different instruments that bank has offered to its clients. For example, there are still open and active claims in case of NextBank that has been shut down in 2002, and had some updates on s…
It's not so relevant here, but in the case that the bank became insolvent (very unlikely in this case), FSCS aims to pay out within 7 days, and will pay all claims within 20 days.