Bank’s island customers are short-changed
I WAS interested to see in Saturday 9 October’s Press that ‘Local businesses were hampered by lack of payment platforms’. I found that interesting as my wife and I have M&S Bank credit cards. As we are spending quite a lot on new bathrooms she requested that her credit limit be raised. Neither of us have ever gone over our agreed limit and we always pay our credit card early – as we have internet banking, it is often paid before we get the paper statement in the post.
She was told that it was the bank’s policy not to increase the credit limits on any Channel Islands or Isle of Man residents. Now to me that is blatant discrimination, we are British subjects and our local financial regulations are some of the most stringent in the world. When I pressed the caller, she said that she would refer it as a complaint to their complaints team. My wife subsequently had a text which said as the bank’s guidelines had not been breached then the complaint was closed.
I did say to the caller that this was exactly what it was, a guideline and not cast in stone. It is disgraceful that a bank can treat its customers like that. When I requested an increase in my limit I was told that £15,000 was the maximum they could allow a customer, there was no mention of the fact that it depended where you lived. I asked the caller “If I lived in Hampshire, would we be having this discussion or would my limit be increased?” She agreed that we would not have been having the conversation. I have been an HSBC customer since 2003 and as HSBC oversees the Marks & Spencer Bank I wonder what their take on this is?
TREVOR HOCKEY
Editor’s footnote: An M&S Bank spokesman responds:
Like the majority of UK banks, we only offer credit products to UK residents, this means we no longer offer products in the Channel Islands.
We apologise for any disappointment this may cause.