Casta Posted February 16 Share Posted February 16 1 hour ago, Banker said: Exactly the same in Channel Islands, it’s all the banks except for HSBC so not an IOMB issue whose cards are issued by NatWest in uk. Slightly off topic. As an executor, I had to access accounts on IoM for HSBC and another bank (bank 'B'). Sums were best part of or over £100k in each case, so not insignificant. Bank B said I needed IoM probate. Easy enough to do and quick, compared to UK, but costly (£1000s). Anyway, got probate and bank B then happy to release funds. I went to HSBC and they said they had already released funds months previously on UK probate (to co-executor) How can 2 banks have such differing policies for releasing funds? Especially considering the £1000s spent on IoM probate Quote Link to comment Share on other sites More sharing options...
Fred the shred Posted February 16 Share Posted February 16 The FSA cannot be blamed for the disinterested and condescending manner the useless staff at Regent Street are it is a disgrace. Quote Link to comment Share on other sites More sharing options...
Nellie Posted February 16 Share Posted February 16 1 hour ago, NoTail said: Can anyone actually name the manager? If so have they ever managed to talk to him/ her/it? I fondly remember the days I could ring Peter Cory and get stuff done. This guy is nominally in charge of the local shambles. https://www.linkedin.com/in/stuart-chivers-93364856/?originalSubdomain=uk I suspect that he has about as much influence over the breadth, and quality, of service provided as Joney Faragher has over over Benjamin Netanyahu 2 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 16 Share Posted February 16 4 hours ago, x-in-man said: Yet try to obtain an new card from them and you have to submit DNA from 8 generations and supply statements form the start of the last ice age... My assets were definitely frozen then. 4 Quote Link to comment Share on other sites More sharing options...
Kopek Posted February 16 Share Posted February 16 Perhaps this is why IOMBank are sending texts with a link to '' Hoo Yu '''??? Or is that a scam? Looks very much like one! 1 Quote Link to comment Share on other sites More sharing options...
The Phantom Posted February 16 Share Posted February 16 2 minutes ago, Kopek said: Perhaps this is why IOMBank are sending texts with a link to '' Hoo Yu '''??? Or is that a scam? Looks very much like one! No that's actually legit. I had to do it a few weeks ago for some company accounts. Not seen it on personal yet. Seemed OK to use to be honest. Although it did keep telling me for weeks after that I hadn't done it. Eventually popped into the Branch, they confirmed I had be verified and told me just to ignore the messages. 1 Quote Link to comment Share on other sites More sharing options...
Max Power Posted February 16 Share Posted February 16 7 minutes ago, Kopek said: Perhaps this is why IOMBank are sending texts with a link to '' Hoo Yu '''??? Or is that a scam? Looks very much like one! A joke, they kept losing details of the various signatories of the organisations I am involved with. This has gone on for years involving multiple visits to the teenagers running the show. The Hoo Yoo thing sounded like a scamming site to me and I wasn't prepared to risk it! I finally moved one of my personal accounts, with great difficulty I may add, to HSBC after being told that they had no decent interest rates to offer me. Quote Link to comment Share on other sites More sharing options...
La_Dolce_Vita Posted February 16 Share Posted February 16 I don't know the details of what sort of regulations were warranted following the 2008 financial crisis but my understanding was that more regulation was needed. Are the wrong things being regulated? Or has it gone too far? Quote Link to comment Share on other sites More sharing options...
The Voice of Reason Posted February 16 Share Posted February 16 12 minutes ago, La_Dolce_Vita said: I don't know the details of what sort of regulations were warranted following the 2008 financial crisis but my understanding was that more regulation was needed. Are the wrong things being regulated? Or has it gone too far? Both 1 Quote Link to comment Share on other sites More sharing options...
Nellie Posted February 16 Share Posted February 16 (edited) 42 minutes ago, La_Dolce_Vita said: I don't know the details of what sort of regulations were warranted following the 2008 financial crisis but my understanding was that more regulation was needed. Are the wrong things being regulated? Or has it gone too far? One of the issues is that the Banks themselves have become so terrified of upsetting the regulators that they have introduced lots of internal rules, checks, and hoops for people to jump through, which go way beyond what the regulators really want them to focus on. They have lost sight of how to identify the parts of their business that involve genuine risk, be it financial, regulatory or reputational. As a simple example, I have banked with IOM Bank for almost 50 years. I have lived in the same house for over 30 years. I am on the voters list. I can provide numerous forms of ID and address confirmation. I am an incredibly low risk customer. IOM Bank must have thousands of customers like me. But if we want to do something beyond what we can do on my phone, we have to go through the same rigmarole as a Russian oligarch would be faced with. When I want to open a new account, and move some money that is already in my exisiting account it should be a 'tick and turn' exercise, a few key strokes and the job is done. Instead, it is reams of pieces of paper, ID, evidence and ten weeks of processing and delay and being made to feel like we are criminals. Edited February 16 by Nellie 4 Quote Link to comment Share on other sites More sharing options...
keith lard Posted February 16 Share Posted February 16 The IOMB systems are a complete shambles. Old and clunky. And updating their records isn't easy Having almost all their staff WFH permanently must be saving a fortune in building costs though. Hooyou is definitely legit. However given it sounds Chinese its causing gammons a lot of worries Quote Link to comment Share on other sites More sharing options...
Kopek Posted February 16 Share Posted February 16 It does read like a 'phishing' scam, so it was foolish for IOMBank/Natwest to allow that impression and apparently has led to a lot of consternation from clients. However, it does seem to be legit but is it worth the angst for a dormant account??? 1 Quote Link to comment Share on other sites More sharing options...
Mysteron Posted February 16 Share Posted February 16 (edited) RBSI is just the latest of several local financial insitutions to be sanctioned by the regulator in recent months, and nearly all for failing to have basic anti-money laundering measures in place. Generally speaking, these laws have been around for the thick end of twenty years now, so you'd think the financial institutions would be getting the hang of them by now. Seemingly not. Edited February 16 by Mysteron Quote Link to comment Share on other sites More sharing options...
Kopek Posted February 16 Share Posted February 16 For a dormant account? How could that be used for money laundering>??? Quote Link to comment Share on other sites More sharing options...
Mysteron Posted February 16 Share Posted February 16 The last sentence of the FSA's Public Statement might indicate there is more to come for RBSI possibly. https://www.iomfsa.im/fsa-news/2024/feb/public-statement-concerning-the-imposition-of-a-civil-penalty-in-respect-of-the-royal-bank-of-scotland-international-limited/ Quote Link to comment Share on other sites More sharing options...
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