Newest Review: ... an acceptable form of communication, but in this case, a letter was sent home. Maybe the HSBC thinks this justifies some of the charges??... more
HSBC - worlds local bank?!
Member Name: mwah_xx
Advantages: Local Bank, Easy to use internet banking,
Disadvantages: Pushy staff
I have banked with HSBC since 2006 where I originally opened up a Graduate account with them and transferred over from Barclays. Since then I have gone on to hold a variety of accounts and products with HSBC.
My original account was a graduate account, extremely useful to keep my interest free overdraft over the next 3 years (although it did reduce the interest free portion by £500 per year) before converting to a "normal" current account once the 3 years were up.
On a visit to the local branch one day I sat down with one of the customer service advisors who looked at all my banking needs, I did consider this a little bit pushy seeing as I only needed to change my address but I am unable to say no, whilst completing this review I had the HSBC Advance account brought to my attention. The HSBC Advance is a fee paying account which offers multiple benefits including car breakdown cover, free cash withdrawal abroad and travel insurance. You pay £12.95 a month for the privelege, I personally think that this is well worth paying, the travel insurance is comprehensive and as I like to travel round the world has saved me from paying for a one off travel policy or an annual. The 2 features I have found most beneficial are the fee free cash withdrawal abroad - no more being charged to get my money out whilst I am away and I can also get away with taking less cash, therefore I feel safer! And the car breakdown cover, I have only used this once , but the service was fantastic, quick to respond and update via text so I didn't feel like I was waiting on the side of the road for too long!
Following on from the current account, I operate both a "Flexible Saver" and a Cash ISA with HSBC, to be fair I probably could get better rates elsewhere, but as I do not have large amounts of money I am not too bothered about this, I would rather keep all my finances in the same place!!
HSBC offers a wide range of lending products, loans, mortgages, credit cards......I have at one point or another had all 3. I feel that the rates are fairly standard across the likes of Barclays, Lloyds and RBS. I also feel HSBC are very thorough when it comes to lending you money, ensuring that you do have the means to pay it back without it bankrupting you or leaving you dependent on short term money lending fixes - however just as frustratingly I have been turned down knowing that I can afford to pay the money back, which is very frustrating, especially as I feel you are not given adequate information as to why you are declined.
I find the staff to be helpful whenever I venture into a bank or ring the telephone banking service, however I do the majority of my banking online and so do not have much experience with this but overall I would hope that it is a positive experience.
One thing I do use the branch for is to pay in coins which I have collected, on the 3 occasions I have done this I have found the machine to be broken at least twice which is very frustrating as then I have to count by hand or lug money around.
Which has recently changed - adding a secure device to the system! You log in using your personal identification, answer a memorable question and then enter a secure code, this now means that if I want to log onto my banking I need to ensure I have my secure ID key with me at all times, again annoying to carry round. Once logged on I find the system easy to navigate, if a little distressing at times when I see how little money I have, easy to set up standing orders, change your address, send money to friends and transfer between accounts.
As far as banks go I have had a very pleasant experience with HSBC, it does what it says on the tin, and if the customer service advisors are a little bit pushy, I think this is now a sign of the "selling" culture we live in rather than a slight on HSBC.
Summary: The worlds local bank
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