Reply to: Turned down by Cater Allen

[darrylmg]

They actually wanted a breakdown of the day to day activities and which company I would be working at. The company has the word missile in their name.
Any way, applied to HSBC online, telephone call couple of days later and all is sorted

Surprisingly helpful, the HSBC Business telephone people.
They always answer the phone really quick too.

[chriscomp]

FWIW all's well at Cater Allen. My new application has been successful.

[krugman]

I'll soon find out as sent them an application form only yesterday!

@op, Instead of weapons maybe try 'defense industry'?

They actually wanted a breakdown of the day to day activities and which company I would be working at. The company has the word missile in their name.
Any way, applied to HSBC online, telephone call couple of days later and all is sorted

[BolshieBastard]

Very much doubt working in a defence related industry has nything to do with the rejection. The OP says he got a mortgage in the last 8 weeks so it could be a recent credit worthiness search revealed the lastest mortgage search which, if made via a broker could have resulted in a couple of individual searches.

Also of CA are winding down (they are just a branch of Santander who have wound their necks in over the last few years) that's a more likely reason.

I ditched them years ago, no great loss.

[SueEllen]

Whats it go to do with the bank though what industry sector you work in?

They ask because of risk with money laundering and working in unethical industries.

However unless you can guarantee every single client you will ever have will be in exactly the same industry it's prudent to just put a more generic description down related to what you actually do e.g. chemical engineer, IT consultant

[chriscomp]

I'll soon find out as sent them an application form only yesterday!

@op, Instead of weapons maybe try 'defense industry'?

[jamesbrown]

They are not taking on new clients apparently. Have the feeling they are winding down.

Interesting, where did you hear that? I can't say I'm overly surprised.

[Sausage Surprise]

They are not taking on new clients apparently. Have the feeling they are winding down.

[allaboutthebenjis]

Whats it go to do with the bank though what industry sector you work in?

Weapons Manufacturers would be regarded as VERY high risk with regards to AML/Sanctions risk

[jamesbrown]

Whats it go to do with the bank though what industry sector you work in?

Eh? You're asking for a service, they're providing one. They have procedures to assess risk. You can argue those procedures with them, but they're not obliged to provide the service. For example, it's much more difficult to get banking services as a US tax resident following FATCA.

[LondonManc]

Whats it go to do with the bank though what industry sector you work in?

Client profile is big these days.

[BrilloPad]

More fool them for not taking your business.

Just go elsewhere.

[psychocandy]

If I were to hazard a guess, that would be it, but who knows; certainly worth asking SJD to seek clarification. I've been asked for similar clarification on several occasions, as I also work in a rather narrow/unusual industry category, but I haven't had any problems to date.

Whats it go to do with the bank though what industry sector you work in?

[jamesbrown]

I am British and working in Britain. I did wonder about the type of industry, I am working for a weapons manufacturer.

If I were to hazard a guess, that would be it, but who knows; certainly worth asking SJD to seek clarification. I've been asked for similar clarification on several occasions, as I also work in a rather narrow/unusual industry category, but I haven't had any problems to date.

[northernladuk]

Being turned down by Cater Allen must be like being turned down by Mavis Riley....

Or NLadyUK saying no thanks when you've got the money in your hand!!!