HSBC BANK

Yesterday I went into the bank to pay some invoices on behalf the company, the manager who was assisting me was a pretty girl with long black hair. I had recently watched a programme about hair extensions and we chatted away.

She then asked the fatal question about what our company did ...... hmmm... how do I answer that one. After all I required her assistance in dealing with my company affairs. so after some deliberation I replied that we processed claims in relation to payment protection insurance as many polices appear to be mis sold according to industry statistics. (honesty gave way to prudence).

To may amazement she agreed ! She went onto add that HSBC no longer sell this product and where they do it is through regulated individuals who are assessed and monitored that it is sold correctly. She pointed out that her colleagues after extensive training are only then allowed to sell this product.

Unfortunately as passionate as she was I did not have the heart to tell her that many other banks and building societies appear not to be so ethical.

Egg announced that 80% of their profits were due to the sale of PPI and I am aware from conversations with friends that they have never been asked a single question about PPI before the premiums were added each month to their credit cards by reputable big name banks and building societies.