3 ms·

Is a bank suddenly dropping a company as a customer something which happens often? It seems quite unusual to me.

by lhnz 10y ago

sickbeard 10y ago
banks do this all the time. It happened to some Iranian citizens some time ago too, they'll typically do it when they think the account is being used for illegal activity.
- Tomte 10y ago
  Ironically, it happens to American citizens as well: http://www.spiegel.de/international/business/reaction-to-us-tax-law-european-banks-stop-serving-american-customers-a-803742.html http://www.spiegel.de/international/business/reaction-to-us-...
  - AJ007 10y ago
    Very common now. The burden is on the banks to make sure their customer aren't breaking any US laws. US law extends its hand to any banks using dollars. It would be reasonable to assume that if there was a possibility principals in RT could be on the sanctions list banks would avoid doing business with RT. Personally I've found the worst way to read the news is from one single "unbiased" source and the best is to read from a bunch of sources who do not hide their bias. When I see what facts are universally agreed upon then I make my own decision. I do the same thing with business decisions too.
Kenji 10y ago
Disclaimer: I worked at a bank before. Yes, it is quite unusual. The banks only do it if they expect regulatory, legal or political fallout if they keep the customer. Or if the customer is always trouble, not paying their debt or harassing employees. Obviously, a bank would never kick a customer to the curb if a normal customer relationship is possible.
brohee 10y ago
It happened to many Americans living in Europe, with the new reporting requirements they are just not worth having as a customer...
DasIch 10y ago
Banks drop or just don't accept customers they expect to become a problem in the future. US citizens are a great example for this. With tensions between Russia and the West rising it's only a matter of time until Russian organizations and citizens become less than desirable as well.

Is a bank suddenly dropping a company as a customer something which happens often? It seems quite unusual to me.

by lhnz 10y ago

Is a bank suddenly dropping a company as a customer something which happens often? It seems quite unusual to me.

banks do this all the time. It happened to some Iranian citizens some time ago too, they'll typically do it when they think the account is being used for illegal activity.

Tomte 10y ago
Ironically, it happens to American citizens as well: http://www.spiegel.de/international/business/reaction-to-us-tax-law-european-banks-stop-serving-american-customers-a-803742.html http://www.spiegel.de/international/business/reaction-to-us-...
- AJ007 10y ago
  Very common now. The burden is on the banks to make sure their customer aren't breaking any US laws. US law extends its hand to any banks using dollars. It would be reasonable to assume that if there was a possibility principals in RT could be on the sanctions list banks would avoid doing business with RT. Personally I've found the worst way to read the news is from one single "unbiased" source and the best is to read from a bunch of sources who do not hide their bias. When I see what facts are universally agreed upon then I make my own decision. I do the same thing with business decisions too.

Kenji 10y ago

Disclaimer: I worked at a bank before. Yes, it is quite unusual. The banks only do it if they expect regulatory, legal or political fallout if they keep the customer. Or if the customer is always trouble, not paying their debt or harassing employees. Obviously, a bank would never kick a customer to the curb if a normal customer relationship is possible.

brohee 10y ago

It happened to many Americans living in Europe, with the new reporting requirements they are just not worth having as a customer...

DasIch 10y ago

Banks drop or just don't accept customers they expect to become a problem in the future. US citizens are a great example for this. With tensions between Russia and the West rising it's only a matter of time until Russian organizations and citizens become less than desirable as well.