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Couples nightmare proves that small banks are bad

Discussion in 'BlackHat Lounge' started by Capo Dei Capi, Jul 3, 2015.

  1. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Until recently I've always thought that smaller region banks were better to have an account with. But the crisis in greece is showing that those banks are a waste of time to do business with. Greece has some international banks with a large presence that do personal banking(most seem to be commercial banking).


    http://news.yahoo.com/honeymoon-over-greek-couple-went-penniless-nyc-212847915.html#
     
  2. ItsBlinkHere

    ItsBlinkHere Regular Member

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    That can't be good for that banks business.
     
  3. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Its probably going under due to crisis, but HSBC wouldn't go under, at most they would close some locations that aren't needed.
     
  4. Society Girl

    Society Girl Marketplace Mod Staff Member Moderator Jr. VIP

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    That's sad. Makes you appreciate small things like having access to your own money.
     
  5. ItsBlinkHere

    ItsBlinkHere Regular Member

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    Actuctally, HSBC went under here in Brazil. They are apparently laying off all their workers in the next few months and moving out.
     
  6. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Not being funny, but anybody from Greece travelling abroad, should have realised that they may be potential problems. Why didn't they have Travellers cheques and cash?
     
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  7. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    It didn't go under they sold the bank and the new owners are probably going to lay off 40% since its overstaffed at each location.
     
  8. Aluminium

    Aluminium Jr. VIP Jr. VIP Premium Member

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    Greece is going to need A LOT of rebuilding by the looks of things...
     
  9. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    The whole deal in Greece is a rough situation but if you have any kind of assets, you would be wise to diversify and have accounts with a few different institutions, some small, some large.

    I'm no fan of HSBC as I've worked with them on a wholesale level, same with Wells Fargo, but their size does help when it comes to a situation like the one we are seeing right now in the land of the Acropolis.
     
  10. ItsBlinkHere

    ItsBlinkHere Regular Member

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    Hmmm, the one in my city shut down.
     
  11. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

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    pretty much this and the same is recommended if you travel to Greece, bring EUR with you in cash, forget about your CCs
     
  12. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    A bank branch shutting down doesn't mean anything. There is online banking and other branches.
     
  13. ItsBlinkHere

    ItsBlinkHere Regular Member

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    Yeah, yeah! :banghead:
     
  14. neu009

    neu009 Jr. VIP Jr. VIP

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    You realize that no matter which bank you have in Greece, you could on,y get 60 Euro (~$65) per day. So the largest bank would not have saved you from these issues. The country has an unbelievably high amount of debt and those restrictions were placed so people would not withdraw all their money at once (and that applies to any bank in Greece)
     
  15. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Their is no limit on non greek purchases on debit and credit cards issued by HSBC. So this couple wouldn't have been affected by this.
     
  16. Avid Learner

    Avid Learner Regular Member

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    True, if you live in a country that has been on the verge of financial crisis for some time, or is in a riskier financial category (as is the case of many non-western nations, and some western ones, at the risk of being "impolite").

    In the US (for now - though one can debate how much longer), not so much.

    Absolutely correct. I sincerely sympathize with the many Greeks who are caught up in this, but it is not new news.

    From afar it has been like watching a car crash in slow motion.

    It is like many expected the rest of Europe to continue to pick up the tab. Many (most?) went on their way, wishfully thinking / ignorantly (intentionally or not) believing what their politicians were telling them, rather than believe "their own eyes".

    A new meaning to "Keep Calm, Carry On"?
     
  17. Tuff Dreamer

    Tuff Dreamer Registered Member

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    You're gonna see someone in your neighborhood at night with a black hoodie and tight shoes and ninja rocks if they lived in Greece :).
     
    Last edited: Jul 3, 2015
  18. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    I think I seen them both on here the other day asking how to make $5 online.