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I only had financial products with Barclays until this year but decided to open a new account after some problems with identity theft had affected my trust in the bank. I chose to open a current account with HSBC because I was recommended to by my family. There are also lots of HSBC branches near where I live so I knew it would be convenient for me to visit for in branch banking.
My experiences with the bank have been mostly positive. I like the fact that they provide regular statements to me and keep in contact with me concerning my account. However, I do find the way the statement is set out to be slightly too formal and printed in "bank speak" rather than as customer based document. I find it's way more difficult to read transaction data than it is on Barclays statements.
In branch banking is quite a good experience in terms of the speed and efficiency of the staff undertaking your transactions. I've only had one instance of disappointing staff relations where I was asking for a recent statement from a member of staff because I'm more cautious about checking over my details now since having been a victim of identity theft. I was explaining my query when the staff member seemed to think I was telling her a member of my own family had stolen my details and she said rather rudely that she 'didn't want to know!' which I found quite embarrassing and shocking. Other than this mix up the staff are generally very helpful.
I'm on a basic account so I don't have any lengthy dealings with the bank but I like the fact that I can withdraw cash at all ATM's for free and the fact that, unlike many other banks, you can find a local branch if you need one! The bank are also great with security and seem a little more on the ball when it comes to keeping things safe and secure for me. I certainly feel a degree safer than with Barclays so I would recommend to potential customers.
I have used HSBC as my primary bank account since I was at school and I have never experienced any problems with them. I can't say that they give amazing rates of interest but in all honesty no bank does without setting minimum deposits per month. For a regular savings account they seem to be amongst the best. When I was a teenager I opened accounts with Lloyd's TSB and Natwest because they were offering free gift incentives to young people but I didn't find their customer service to be as good as HSBC's so I have always tended to use this account.
What I like about the bank:
- I like that they will still send me a paper bill each month. Some banks no longer do this but I prefer to see things in black and white so I'm happy that they don't insist on emailing my bill to me.
- The customer service advisors are polite and efficient. I am extemely careless with my bank cards and as a result over the last few years I have broken several and lost a few too. Whenever I phone them to request a new card they quickly process the cancellation of my old one and send a new one out straight away. Despite my care of my cards not being great they have never been short with me over the phone or told me to be more careful!
- Staff in the branches are smartly dressed and polite as well as being happy to help. The branches have deposit boxes where you can pay money in but I always go to the cashier to do this because I am paranoid about doing something wrong and they are happy for me to do so even if I cause a queue by needing help with something other people probably do with ease.
The only reason why I haven't given HSBC the full 5 stars is that they have recently closed my local branch is is an inconvenience. I have several cheques that I need to pay in to my bank and because my closest branch is no longer local to me and would mean driving there and paying to park I am now going to pay them into my TSB account because it is closer to home and has free parking nearby.
HSBC was my first credit card that I ever got, due to the low income I had the limit given as 7k, but then due to my spending habits and payment structure the credit limit was revised every year and now I have a limit of 100k
There are no hidden charges but the interest rate is a little high, moreover one thing which I did not liked was that the payment should be in their system by the due date. This seems a little absurd to me, since due dates are the dates by which one can make a payment to avoid penalty.
The physical copy of the bill used to take a little time to reach and then accordingly I used to make the payment, but since every time the payment used to get over my due date as received by them since I used to make the payment on the due date itself, it obvious that they would get it after 3 more days as the payment was made by check so they used to charge me with late fine
Again I would like to mention that they have a great support team since when I took up this matter to them, they refunded back my money and explained me how the system works so now I make payments a week before the due date by looking into the email copy of the bill and thus now am not charges with any late payment fees.
Overall a very good experience, specially because the credit limit was increased as years passed by and that too in good amounts
I would recommend anyone to go for HSBC credit card
I have banked with HSBC for around eighteen years. For most of that time, I have had a great job which has been well payed. Nothing has been too much trouble for the bank and they have always bent over backwards to help us. However, recently, after a run of bad luck, including job changes and salary drops, we went overdrawn. There was a problem with my salary and it was paid a day later than expected. The bank instantly charged me £25, for what they termed, "charges incurred when considering the case as to whether to grant an overdarft". It bothers me, that normally, an email is an acceptable form of communication, but in this case, a letter was sent home. Maybe the HSBC thinks this justifies some of the charges??
However, apart from this incident, the HSBC have always been brilliant. When my husband and I go in, the staff recognise us. There is one member of staff, who is brilliant, who opened our joint account after we were married, and still remembers this. She is helpful and knowledgeable and she seems to understand our lack of expertise, explaining alternatives to us.
Recently, I became a victim of theft when my debit card was hacked when shopping online. Within hours of it happening, the bank alerted me to it, advised me what to do next and refunded the £2000 stolen. They were so prompt and efficient. I can imagine still being with the HSBC for another eighteen years!
I've been banking with this company over 10 years. I have a good job, but due to the fact that my husband lost his business during financial crisis, we started to experience some money constraints.Both of us have secure jobs and needed a loan to support my studies. HSBC totally refused me, despite the fact that my repayments after paying off the previous loan are going to be £30 a month more.Two years ago they showered us with letter offering anything we want and now- totally opposite. Interesting, the banks kill the economy, get taxpayers money and punish us for not being able to meet their standards. What about meeting ours?Disgusting.
This review is specifically on the HSBC Fast Balance app and not the bank on a whole.
I downloaded the app from iTunes because I wanted an easy way to keep tabs on my finances. The app is free to download and anyone with a HSBC Current Account where you've been provided with a debit card can use the app.
Once you've downloaded the app, you need to agree to the terms and conditions and enter your details (account information and phone number). You then enter your debit card details to link everything up and get sent an activation code in text message. Once you've entered the activation code you have to create a numerical passcode between 5 and 8 digits. That's it for setting it up, you're now good to go!
When using the app, you only ever need your passcode, you don't need your internet banking passwords or the little calculator number generator like you do with internet banking. Once you're logged in you have 6 options - Balance, Mini-statement, Top-up phone, Manage accounts, Manage Fast Balance and Service options. They pretty much do as they say on the tin. The balance option shows your account balance as well as your available balance which I find really handy. If, like me, you check your balance and wonder how on earth you have such little money in there you can then check your mini-statement which will jog your memory by showing you the last 6 transactions to happen on the account. Topping up your phone is no use to me as I have a contract phone but I thought it was a good idea for those people on PAYG. The remaining 3 options are just the various ways of managing your account on the app - not your actual bank account! You can add other debit cards, change your passcode etc. This leads me on to the downfall of this app. You can't actually manage your bank account through the app. There are no options to transfer money between your other accounts (Savings, ISA's etc), paying bills or any of the other services you have when using internet banking or visit a branch. I feel like HSBC are missing a trick here.
Overall, what the app offers is done well. It's handy to check your balance and recent transactions when you're on the go or you don't want to faff about with your little calculator to log on to your online banking but I feel like HSBC should offer more from their app. I don't bank with anyone else so I can't compare it to others but I would imagine that there are apps offering more account management than this one. Even if it was just being able to transfer between all your own accounts and not pay/transfer to any external party which would still be secure but would also be beneficial. Especially for people like me who overspend and need a quick transfer from another account to carry on spending :)
On three occassions I had reason to visit and discuss banking problems with this branch.
On each occasion I encountered Ms. Jobsworth. ( same person each time)Apalling attitude and a chip as large as Ben Nevis on said shoulder.
The first occasion was bad but as you know one takes it.
The second occasion I had to go above local branch and was even advised to make a complaint. Again because of the economic climate one did not want to get anyone into trouble etc.
Last Friday I met Ms Jobsworth again and I firmly believe that the person in question wants to be dismissed and obtain a lump sum by default or legal redress.
Anyway I have now put pen to paper and made a fornal complaint. In this day and age it will be interesting to see how the complaint is handled. I will keep you fully informed.
As an aside. Left the HSBC and went to another mainline bank where I have an account. Is it not strange that they were able to solve the HSBC problem without fuss or bother. The second bank was Lloyds TSB.. Obviously both bank have human resource departments but what a different approach by each bank
Will keep you informed
The Rest 10
I've not had any qualms with HSBC. Their student account is pretty great and all of the contact i've had with them has been pleasant. It all started two years ago now when I had to change bank account from nationwide to someone else because Nationwide didn't offer a student account. I compared a number of accounts and HSBC seemed like the best option to be honest, minimum of £500 overdraft is not too shabby and if you have a great credit history (unlikely for a student! but hey-ho) you get up to a £3000 overdraft. The overdraft is fixed for a year and is interest-free for the same amount of time which is a bonus. For the four months I was desperately far into my overdraft they made no comment or question which was nice, i felt trusted, it was a nice touch when I expected to be ridiculed by the bank, declared to have malaria and have my account closed. But no, none of that happened.
The only perk is the free travel insurance they give you if you decide to go on a lad or gal holiday which is also a nice touch. Everyone at the bank i've spoken to is friendly and helpful. I really have no problem with their service in any way really.
i had a debit card with hsbc for four years now they have taken my debit card off it of me as they are saying that they sent ne the wrong card now the want me to have just a cash card that no good to me as i pay for all my shopping on the debit card, so it hsbc fault, i would never use them again
I have been a customer of HSBC for over one year, changing my main banks from NatWest and Lloyds TSB due to the way I am paid via my workplace. I admit that it wasn't my choice to change banks although being an on line banking customer who uses hardly any advanced features of a bank I imagined I would notice little difference.
Customer service ways I have had no problems. The branch staff are always helpful, possibly more so than I am used to experiencing. Branch opening hours are normal and I have never suffered from any inaccessibility to my banking needs - apart from one massive flaw.
NatWest have an Iphone app which is absolutely streets ahead of HSBC's. In fact HSBC have only very recently launched an app that can show you your balance and a mini statement. For many this may not sound like a massive problem however, when you are constantly on the move like I am, I use either my Iphone or Ipad to keep in touch with my accounts. Yes the normal website can be accessed but this too is more clunky than it needs to be forcing you to carry a keypad around at all times even if you just want a balance check.
I imagine much of it comes down to security but for me as a general user who needs mobile access to pay bills and transfer money, I'm sorry but at the moment HSBC just do not cut it.
I had a HSBC account form the age of 16 up until I was 23.
At first it was really good, and they accomodated me with an overdraft etc. I had no problems, except for the occassional bank charge for going over my limit.
When I became a student in 2005, the student account was fine, then I became a graduate and the account got changed to a "graduate account". I was unemployed after leaving university and asked someone in the bank if I went over my limit would I get charged as there were a few bills coming out that were going to take me over my limit, she said no, like the student account you do not get charged for this.
Sure enough, I got charged!!! I kicked off and raised a complaint etc. It took ages and nothing got done about these charges. After several hundred calls from India, who I refused to talk to, I eventually talked to someone form the U.k they agreed to remove my charges if I started to pay back the overdraft, I said to ring me back the next day and I will set up a direct debit.
They did not ring me back, instead they put a "Default" on my credit rating. Now I can not get credit at all due to one red mark. I complained but nothing was done about this.
Be careful when using this bank.
I opened up my HSBC current account around 7 years ago now and have never really had any problems with the service received.
Right from the beginning my experience was straight forward, I applied for my new account over the phone which took around 15minutes to pass all my details over. I then had to pop in to my nearest branch with my proof of ID and Address and it was then only a few days before I received my new debit card and paying in book.
Although in the early days I didn't really use my account much, over the years It has been a service which I couldn't have been without. Having reguarly lost my debit card during drunken antics or just been generally careless I have had to make endless calls to HSBC customer services for replacements.
On such occassion's I have managed to get through to a representative within a minute or so and was dealt with efficiently and professionally and I can say the same for when dealing with staff within my branch aswell.
There were two occassion's where payments had been made from my account which I did not authorise on the once occassion the payment was stopped immediately and the funds returned to my account within 10minutes, on the other the payment had already left and I received a £20 compensation payment for the inconvenience caused.
I feel that HSBC are a company who are dedicated to supporting each of their customers to their specific requirements and are often open to compromise in difficult situations.
Another aspect of HSBC which has made my banking experiences smooth is the Internet Banking platform where you can do just about anything within a couple of clicks.
Having started up business's and making regular standing order and direct debit payments it has been useful for me to monitor my funds in realtime and be able to make payments as and when required.
It's really difficult to tell how good your bank is until something goes wrong. I have been with the HSBC since 1981, and although I would never save with them as their rates are appalling I thought my current account was, you know, ok, all things considered.
Then came the problem.........my debit card was due to expire at the end of November and I hadn't received it so I called them on 28th Oct. They said they had posted mid october, but no problem, they would cancel it and send me another. Should have been simple enough, but it has taken 12 days and HOURS of phone calls to an Indian call centre to get it sorted. In the meantime I have been left with no access to any money whatsoever, just before Christmas.
No one takes responsibility, or does what they says they will do, DISGUSTING LEVEL OF SERVICE!!!!!!!!!!!!!!!!!!!
Can't rate less than one star or I would
I am new in Scotland, and i realy had a bad time trying to find a bank where i could open a bank account.HSBC were more that happy to help me, unlike some other popular banks here.They had the perfect solution for me.They were very quick in doing all the paperwork (it only lasted half an hour), and in 3 days i had the card home.They made a mistake with the adress, and they solved the problem very quickly. As they addmited the mistake i was not charged for the new process.I am very pleased with the solution they provided me, as well as with my online banking account and theyr security level for information.I'd recommend them to my best friends. Though i will be eligible to have an account with other banks soon, i am determined not to leave this bank.
I needed to open up a new bank account to keep some of my money separate from the rest of it and my parents suggested I went with HSBC as they had been with them for years and hadn't had any problems with them to date so I took their advice and made an appointment to open up an account. I went to the appointment with all the documents I needed (as they had told me when I made the appointment) and was not keep waiting. They were ready to see me straight away (which was 5 minutes early). I had to show all my documents as proof of identity and then they were away creating an account for me. I was happy with the service I had received and even more so when the paperwork arrived within 3 business days of opening up the account so I was ready to go and use it.
I have been so pleased with the service I have received with them that I decided to recently open up a student account with them for while I am studying for my nursing degree. With this student account I am being given 2 years free worldwide travel insurance starting from March 2012 which is excellent as it will save me having to worry about that if and when I travel within the next 2 years.
I really recommend HSBC as a bank to anyone as they have such a wide range of accounts available that you are bound to find something suitable.