Idiots! (HSBC)

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Product:	HSBC
Date:	18/08/00 (47 review reads)
Rating:

Advantages: Can't think of any

Disadvantages: Poor rates of interest

Considering the rigorous banking examinations prospective bank employees must undergo before they can work for such an establishment, there seems to be an awful lot of dim- witted staff at HSBC, hence my decision to change my banking arrangements. Okay, I might be fussy but I can accept that the odd error can happen. However, with HSBC's First Direct's telephone banking account, I can only assume their banking exam consists of putting square pegs through round holes.

I opened an account with the bank around six years ago but every six months after the account was opened, I received a letter "inviting" me to open the very account that was in use. Hardly efficient. Nor was their method of dispatching cheque books. Usually, when one gets past a certain cheque number, a replacement is issued. Not with First Direct. They always sent two, as well as doubling up on paying in books which were sent even though it would take a few years to use one (wages went in by credit transfer).

A statement for my visa card never arrived, so I phoned them up to see where it was. I eventually spoke to someone about it and made an imediate transfer. The usual con, it took nearly a week for the funds to go from one account to the other, both of which were maintained in the same building! Natuarlly, they would not refund the interest they charged.

On the subject of charges, they hit me with a cash machine withdrawl fee although there was no advance warning of any kind and none was displayed at the time of transaction. Of course, they didn't want to know about that.

Still, it cost them a lot more in the long run as I moved all my accounts away from them. Having current, savings and mortgage accounts, they will literally lost thousands of pounds for being stupid.

Summary: