To think the HSBC homeless banking scheme is dangerous?

[OneRuleForThem]

I have just seen an advert for this. obviously I don’t think it’s a bad idea for homeless people. But do you also think that for everyone else overall this is a poorly thought out idea and will most likely attract nefarious types, who will take advantage of not needing to provide an address to store cash (for example - something like drug dealing)??

@NeedsCharging
What is your problem with homeless people and this desire you seem to have for them to remain homeless?

I did not say anything remotely close to that AT ALL.
I just didn’t think that someone that was homeless would have a form of ID

How could banks do in person ID checks on a person that “doesn’t have” a home address?

Why have you put doesn’t have in quotations? Are you suggesting homeless people are pretending not to have an address?

Also do you think homeless people don’t have birth certificates or passports?

@Clymene

OP, what do you think the risks are for banks in allowing homeless people to open bank accounts?

I thought the risks would not come from genuine homeless people, but criminal types who would take advantage of being able to not have an address

@Bobsyer

It’s possible but HSBC will have had this thought and done lots of risk assessment. There will be lots of checks and balances in place that the general public will never know about.

This. HSBC have been dealt with hugely before for money laundering issues, they won't let this be another downfall for them!

So @OneRuleForThem there are 2 parts to Id check, one is a form of ID ( usually passport or driving license but others are accepted too) and the other address verification (utility bill or whatever).

There are other forms of enhanced due diligence too whereby the person is basically throughly googled, crime records, the banks also share information on known fraudsters and criminals so they’re notified if so and so applies for a bank account or loan etc even if it’s with another bank.

Banks in their nature are incredibly risk adverse, so the risks to this are minimal.

@MaryAndGerryLivingInDerry
Why have you put doesn’t have in quotations? Are you suggesting homeless people are pretending not to have an address?

No, I am saying (and have repeatedly said) I am talking about people signing up to this scheme saying they have no fixed address, not people who don’t actually have a fixed address. I put it in quote marks to differentiate from people who AREN’T pretending.

Also do you think homeless people don’t have birth certificates or passports?

I know they “have/had” them but no, I didn’t think most homeless people have their birth certificates or passports to hand, if asked for them for proof.

I just didn’t think that someone that was homeless would have a form of ID

So you assume they are homeless from birth then?

YABU. Huge amounts of work has gone in to the security checks and requirements behind the account.

HSBC is my bank and they are genuinely shit. I assume they are doing this to garner positive publicity while they continue to close branches and provide ever worse customer service.

I suppose when they close their last physical branch they will in a sense be homeless, so possibly there is some congruence to this.

@NeedsCharging
So you assume they are homeless from birth then?

I just feel like people are nitpicking now. It’s quite clear what I mean?? I know everyone has a birth certificate, but I didn’t expect it to be as easy for a homeless person to produce ID as proof of who they are compared to a non homeless person. That was in response to someone that said banks would run ID checks to confirm someone was homeless and I asked how was a homeless person meant to do that if they don’t have ID?

They’ve been piloting it for over two years, so I’m sure they’ve foreseen and ironed out many of the potential issues. Though I’m also a little confused as about a decade ago I worked on the Barclays pilot of the same basic bank account for people with no fixed address product, so I’m unsure why what HSBC is doing is being held up as so novel.

@TheSpottedZebra

Applicants have to be referred by one of a select few partners - eg homelessness charities. All communications are funnelled through that charity's local address.

So probably not that appealing to the local dealer!

Exactly this, not as easy as just walking in.

There are so many regulations about banking they will have thought of their anti crime procedures when designing the product. There might be enhanced flagging or something so say they see large amounts of money going in it might freeze the account? Who knows. I'm confident they have thought it through though.

I just feel like people are nitpicking now. It’s quite clear what I mean?? Iknoweveryone has a birth certificate, but I didn’t expect it to be as easy for a homeless person to produce ID as proof of who they are compared to a non homeless person

Not nitpicking at all just trying to understand your ignorance regarding homeless people.

Those accessing the HSBC scheme will do so through a trusted partner/prescriber who will already be supporting the person to access their ID.
I ordered a new BC for my 19 yo son this year on line it was less than £20 and all I needed to know were the details of his birth. Its not impossible to access your ID.

What the actual fuck. I work in public policy BTW, if you’re going to comment on articles you should at least actually read them. I’m all for having an opinion, but how about making it an informed one???

I thought the risks would not come from genuine homeless people, but criminal types who would take advantage of being able to not have an address

As banks go, these kinds of amounts are extremely low on the risk scale to them.

Personally, if a multi-billion international bank and or HMRC run a minuscule financial risk in order that homeless people who have virtually nothing can be helped to improve their dire circumstances a little bit, I'm with the homeless every time.

They run all kind of risks every minute they're out on the street anyway. Not just the risk of losing 0.000000000000001% of their money, but the risk of theft (yes, some people really are that low), assault, rape, murder.

....and those are just the risks coming from outside forces.

Homeless people can’t access banks so they can’t access benefits, money from work they do, support from family. They can’t transfer money to get somewhere to stay. They sticks them in a cycle of poverty that’s virtually impossible to escape, largely because banks are too lazy to put in place the more long lengthy processes needed to confirm their identities. In this case they’re literally only allowing homeless people referred to charities to access these. It is perfectly possible to do the necessary identity checks and ensure they have somewhere where correspondence can be sent, it just requires more work from the bank. Places like Pockit have been doing this, it’s one of the major things homeless charities have asked banks to look into.

If you have a problem with that then you should seriously take a look in the mirror.

@NeedsCharging
ordered a new BC for my 19 yo son this year on line it was less than £20 and all I needed to know were the details of his birth. Its not impossible to access your ID.

I think this is pure arrogance (on your part). “Less than £20 pound” and a stable internet connection (I assume?) or phone credit to do it over the phone in the first place might be something not to even give a second thought about to you personally, but not something to those that are struggling can readily afford not to take into consideration.

There will be close checks on this - and I’m sure that HSBC would notice if a homeless person suddenly had large and unexplained funds landing in their account.

HSBC is famous for money laundering huge amounts of cash in the past, I doubt they are interested in small fry!

@OneRuleForThem

I did not say anything remotely close to that AT ALL.
I just didn’t think --that someone that was homeless would have a form of ID—

Here you go, OP. Fixed it for you…

I feel like drug dealers are doing alright as they are to be honest.

[quote OneRuleForThem]@NeedsCharging
ordered a new BC for my 19 yo son this year on line it was less than £20 and all I needed to know were the details of his birth. Its not impossible to access your ID.

I think this is pure arrogance (on your part). “Less than £20 pound” and a stable internet connection (I assume?) or phone credit to do it over the phone in the first place might be something not to even give a second thought about to you personally, but not something to those that are struggling can readily afford not to take into consideration.[/quote]
@OneRuleForThem trying to act like the queen of poverty and self-awareness 🤣🤣🤣 laughing so hard right now at your utter lack of insight

I think this is pure arrogance (on your part). “Less than £20 pound” and a stable internet connection (I assume?) or phone credit to do it over the phone in the first place might be something not to even give a second thought about to you personally, but not something to those that are struggling can readily afford not to take into consideration.

You cannot read and you are ignorant.
Read what I wrote before that. Homeless people will need to be supported by certain charities to access the banks scheme.
Charities can and do provide use of the Internet, telephone and funding for free for such reasons. I know this because I work for a large national charity whose client base has a huge percentage of homelessness.