HSBC India Fiasco

It will be very difficult to continue our activities in India, but we shall do it, for all the reasons why we started these activities in the first place. So why this statement on our web site? Child Aid’s bankers in India, HSBC India ( I stress not HSBC UK nor HSBC HK), have cancelled banking facilities for us, with no reason given.

We have been a customer of HSBC India for over twenty years, then all of a sudden they decided to close our banking with them, first our charity banking, then our Founder Trustee’s personal account. Neither bank account has ever been in debit; we have never asked for a loan, our activities have been funded by you, our sponsors, kind support and to a very substantial extent, by our Trustees.

This regrettably is the attitude of a large International bank, it rather proves the point that some large International banks have no thought for their customers, nor the communities which they serve and which help to keep them alive, despite their advertising slogans, like, “...our long-term commitment to helping customers succeed “...is as fiction as 'flying Indian elephants'. As too is, “...helping people to fulfil their hopes and realise their ambitions“, we and you all, have done that for our Indian children. 

We will most certainly be continuing our activities in India, without HSBC India, and would like to thank all our supporters for the very real support you have given us over the years, you alone have been great and many Indian children and communities have benefited from your generosity, thank you.

Finally, a quote from Noel Quinn, Group Chief Executive of HSBC,

“...for our customers, I have a simple message – we will always do our best to support you.“, oh yes ?

Let us hope that TRIODOS Bank ( a bank dedicated to helping charitable work, who have agreed to be our new UK bankers ) will continue with us to ` do their best to support us ` in what we have undertaken and will continue to undertake for the disadvantaged children we have been helping in India to date.

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UPDATE! 

So in this era of a "brave new world", it has been suggested to us that we should setup a cryptocurrency wallet, so that's exactly what we've done ...

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