Incompetent Arrogance (HSBC Private Banking)

Member Name: RobertRyanson

Product:	HSBC Private Banking
Date:	20/09/09 (25 review reads)
Rating:

Advantages: can't think of a single one

Disadvantages: not enough space to list them all

I have dealt with HSBC in 4 countries - US, UK, New Zealand and China.

In China, they are OK.

In the UK, they are incompetent. They sent me an account statement by post, and someone with HSBC had whited-out someone else's name and account # that was printed on MY statement. I called them about it and the confirmed it was my information and they could not explain why someone else's information had been PRINTED on my statement, and then whited out. This is pure incompetence.

In New Zealand, they are fine.

In the US, they are the biggest nightmare and sorriest excuse for a bank on the planet. It took TEN WEEKS for me to get my checks, debit cards and credit cards. They forgot to issue a credit card for my wife, which took them another FOUR WEEKS to do. They lost forms that were supposed to have been submitted initially, then forced me to get new forms signed and notarized. The manager of the San Francisco branch (an Englishman) declared to me that they don't pay the highest interest rates because "we don't have to as we are one of the most popular banks". It took them a full WEEK (7 days) to execute a wire transfer for me, and I am a premier customer (this means I'm supposed to get better service). The account manager couldn't explain their products and services and it took nearly two months to get information out of them. A business banking person took 2 months to get me an answer about one of their branches in another country - and then it was only 1/2 the information and something I could have gotten off the website. In short, in the US they are both incompetent beyond belief and arrogant - the worst possible combination.

And yes, I am a HSBC Premier customer although "Premier" is simply an adjective and means nothing about their products or services.

Summary: Run, don't walk away from this "bank".