The World's most incompetant bank (HSBC)

Member Name: mintyiscrazy

Product:	HSBC
Date:	01/09/09 (48 review reads)
Rating:

Advantages: None

Disadvantages: Too many to list,

This is a personal account of my experience with HSBC rather than a full review of their products and services. My account was opened in 1984 with the Midland Bank, subsequently taken over by HSBC. A few minor problems to begin with, but generally ok until we made the mistake of using the world's favourite bank to operate an account in Euros, as well as our sterling account. Most of the staff we encountered did not understand the concept of foreign currency or an account in Euros. Payments to out Euro account (in Euros) ended up in the sterling account. Any attempts to rectify problems via a national phonenumber (as individual branches are not contactable) was a lengthy, frustrating process. The call centre is located somewhere in the Indian subcontinent and the consequent problems of language and accent only exacerbated HSBC's computer incompetance. I was repeatedly told that my account and branch code did not exist and that people who had signed letters also did not exist. I closed this account in 2008, a process which was once again shambolic. I made an appointment at the branch and asked how much a transfer of funds and closure of account would cost. After 3 days of trying I finally spoke to someone, who told me it would cost £28. However, they would not put this in writing or confirm to me 100% what their charge was going to be. 4 weeks later they managed to complete the transfer of funds and issue me with a cheque for the balance. They had in fact charged me £47, but the thought of going through their grievance procedure would have only caused me to increase my medication for high blood pressure! In short HSBC is abysmal, their branch staff are incompetant and their management non-existant. As to the world's favourite bank I can only think the world has no choice, or is still desperately trying to close their accounts!

Summary: This is my personal account of my experiences with HSBC