HSBC Changing all Bank accounts

ahai1

I thought I would write a considered reply to this and give sometime to it rather then rush into it. I would be grateful if you can actually read your signature I have been polite to you and have not made any coments about you. It seems to me that you and your colleague here only post on selective threads and avoid the one's where you know your views will be ignored or you will get a real bashing. Let me give you an example there are a lot of angry students but I have not seen a single comment about HSBC defending their actions. Here is the link http://forums.moneysavingexpert.com/showthread.html?t=991967.

BTW Yes I am angry with the banks but I am also angry HSBC for treating their customers like dirt.

ldavies wrote: »

Get off will ya! take a look at RBS, LLoyds, Barclays....

Im not sure where you are going with this.... If your a taxpayer, You should be pretty annoyed with the above.

This thread is supposed to be about the changing of bank accounts not which bank has lost money... All banks have lost money, most more than HSBC.. That speaks volumes in itself.

ShelfStacker_3

gt94sss2 wrote: »

Getting this thread slightly back on topic..

I currently have a HSBC Bank account and have been told its going to be converted to a Current Account Advance one in December and just had a couple of quick questions.

1) Can I open a 8% Regular Saver now or do I need to wait until the 1st December?

Yup, you can.

2) Is there any difference in the 'mobile banking' offered by the Current Account Advance account (Monilink)and that offered by the HSBC Plus account (which seems to call it 'text banking')?

There is. MoniLink is a Java application which lets you get balances and mini-statements. Text banking is something First Direct has had for a while; you can set it up to text you mini-statements, as well as if you get any large debits or credits. I have both; MoniLink is quite handy, text banking a smidgen less so (if only because I'm always checking my account somehow... I tend to be a bit obsessive )

3) Are/Will there be any changes to the HSBC Premier accounts to reflect the changes to the other current accounts?

Not as far as I know. Premier clients will probably get the text banking and whathaveyou, of course, but other than that then not as far as I can see.

ShelfStacker_3

ahai1 wrote: »

It seems to me that you and your colleague here only post on selective threads and avoid the one's where you know your views will be ignored or you will get a real bashing. Let me give you an example there are a lot of angry students but I have not seen a single comment about HSBC defending their actions. Here is the link http://forums.moneysavingexpert.com/showthread.html?t=991967.

"His colleague" wasn't working for HSBC when that thread was started, and at any rate doesn't know anything about the graduate fee whatchamajigger.

However, from skimreading, I am guessing it was a response to changing market conditions, and wishing to encourage graduates to be quicker about paying off their debts. Not saying that for definite, or because it's anything that I officially know, but that is what it sounds like from a very casual inspection of the thread.

ahai1

Thank you for your response and to be fair it is something that a cashier would not usually know about. I am sure like the students it was to do with the credit crunch. However it has backfired and the students are angry and making formal complaints about breach of the banking code and T&Cs to the Ombudsman. It seems like from reading that they may have a strong case. There are some people in the branches who have given the real reason for this rather then the standard reason. If I was a student I would be off to the Alliance and Leicester that is where a lot of them are going.

Were we given the standard notice period or not about those changes?

BTW How much does investigating a complaint cost to HSBC in terms of the work done and man hours?

ShelfStacker wrote: »

"His colleague" wasn't working for HSBC when that thread was started, and at any rate doesn't know anything about the graduate fee whatchamajigger.

However, from skimreading, I am guessing it was a response to changing market conditions, and wishing to encourage graduates to be quicker about paying off their debts. Not saying that for definite, or because it's anything that I officially know, but that is what it sounds like from a very casual inspection of the thread.

ShelfStacker_3

BTW How much does investigating a complaint cost to HSBC in terms of the work done and man hours?

I honestly couldn't say.

Inactive

ShelfStacker wrote: »

You do realise that both of those things cost money, right? And that given the low amounts paid in by the people you're talking about, HSBC could well not make enough money from them to cover the costs of a cheque guarantee card and monthly statements? There's greed, and there's not wanting to make a loss.

Also, what use is a cheque guarantee card to someone who's housebound?!

That really sums things up nicely, do you honestly believe HSBC would make a loss by sending out the same monthly statements to a minimum amount of less well off customers..get real..... Pure greed.

And yes of course the " housebound " need a cheque guarantee card to pay for visiting services, contractors, repairs etc.

ShelfStacker_3

Yes, I do believe that. Do you know what the cost of either of those items is to the bank? Hint: It's a lot less than the amount made in interest from someone paying in less than £500pm. Even if someone was paying in the maximum they could before having to switch to Advance, £499.99, the interest made would be about £2. I can assure you, these things are much, much more expensive.

ahai1

I fail to understand how can it be that expensive? It is unfair to compare those costs with the insulting rate of interest that people get from those accounts.

The banks have over the years reduced costs by closing branches and moving everything offshore.

The only contact I have with the bank is via the internet and statements or phoning them up when I lost my card.

I would actually like to see a breakdown of costs.

Inactive

ShelfStacker wrote: »

Yes, I do believe that. Do you know what the cost of either of those items is to the bank? Hint: It's a lot less than the amount made in interest from someone paying in less than £500pm. Even if someone was paying in the maximum they could before having to switch to Advance, £499.99, the interest made would be about £2. I can assure you, these things are much, much more expensive.

I think the only accurate information that you post is in your profile;

" My views do not necessarily reflect those of the HSBC Group and may possibly be grossly misinformed yadayadayada. In fact, if they weren't grossly misinformed, I'd be bloody surprised. "

:rolleyes:

ahai1

I think that is unfair.