HSBC Changing all Bank accounts

Lokolo

Inactive wrote: »

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.

If they make an exeption with one customer then what stops numerous customers, and more, and more from doing the same? Thus defeating the whole point, making it more costly.

Simple business practice.

Inactive

Lokolo wrote: »

If they make an exeption with one customer then what stops numerous customers, and more, and more from doing the same? Thus defeating the whole point, making it more costly.

Simple business practice.

Who mentioned " one customer "? I know lot's of " housebound " people that do not have £500 paid in every month, yet need regular statements to keep track of their finances, some of them actually have a lot of money in their accounts as well.

These people have been singled out by HSBC as second rate customers.:rolleyes:

Lokolo

Inactive wrote: »

Who mentioned " one customer "? I know lot's of " housebound " people that do not have £500 paid in every month, yet need regular statements to keep track of their finances, some of them actually have a lot of money in their accounts as well.

These people have been singled out by HSBC as second rate customers.:rolleyes:

Yes of course you do. Yet there are more customers like me who are benefitting from this than your 'housebound people you know' otherwise HSBC wouldn't do it, as it then would not be cost effective.

Previously you stated that HSBC should still send out statements to 'not so well off' customers. Now, if another customer came along and said well my friend Margaret is getting statements, I want them too. They will say yes, and the cycle continues, thus, making the whole paper free environment, a waste of space.

ahai1

HSBC are trying to save money and we are the bottom of the barrell. We are the customers and they don't want us as we don't have millions. Very soon they will start charging us for the privilege of having bank accounts with them.

The new account changes have not benefited the students who HSBC have once tried to take for a ride and they are now doing it again. If you want to read about how the students are been treated there is a thread on it.

Once our money was good enough but now it is not good enough for them. I say to them very soon a lot of people are going to find alternatives.

Lokolo wrote: »

Yes of course you do. Yet there are more customers like me who are benefitting from this than your 'housebound people you know' otherwise HSBC wouldn't do it, as it then would not be cost effective.

Previously you stated that HSBC should still send out statements to 'not so well off' customers. Now, if another customer came along and said well my friend Margaret is getting statements, I want them too. They will say yes, and the cycle continues, thus, making the whole paper free environment, a waste of space.

Lokolo

ahai1 wrote: »

HSBC are trying to save money and we are the bottom of the barrell. We are the customers and they don't want us as we don't have millions. Very soon they will start charging us for the privilege of having bank accounts with them.

The new account changes have not benefited the students who HSBC have once tried to take for a ride and they are now doing it again. If you want to read about how the students are been treated there is a thread on it.

Once our money was good enough but now it is not good enough for them. I say to them very soon a lot of people are going to find alternatives.

Yes of course, but the fact is they still will be earning more money because the people that will stay + money saved will be > than the people that leave. Otherwise they wouldn't do this project.

And I am a student, with HSBC and I haven't had any problems. I am -£600 in my account and have been since September, stoozing my money. I regularly use my account, my student loan goes in there. I have been with HSBC for 9 years and never had a problem. I suspect the other threads who are complaining aren't telling us the whole story (for example, the person who had his account closed, I suspect there is a good reason to it which the OP hasn't explained).

Inactive

ahai1 wrote: »

. I say to them very soon a lot of people are going to find alternatives.

Spot on.. some are doing so now.;)

ahai1

Yes I am going with a credit union and in the process of moving my ISA. I have emailed another provider for a trnasfer form.

I say they have screwed us for long enough it is about time we screwed them.

BTW Is the manager who has not posted for a few days been sent to China for brain washing? (it's a joke).

guli

ahai1 wrote: »

HSBC are trying to save money and we are the bottom of the barrell. We are the customers and they don't want us as we don't have millions. Very soon they will start charging us for the privilege of having bank accounts with them.

The new account changes have not benefited the students who HSBC have once tried to take for a ride and they are now doing it again. If you want to read about how the students are been treated there is a thread on it.

Once our money was good enough but now it is not good enough for them. I say to them very soon a lot of people are going to find alternatives.

Long ago, banks charge a fee each month/year for the pleasure of using their services. If you cannot afford the bank fee, there will not be an account for you.

Then came the era of free banking, (almost) all bank accounts are free. The consumer (us) have the choice to apply and open x number of current accounts without worrying about bank fees to maintain these account. What banks do to made up the loss in revenue for the monthly/year fees is via all sorts of bank charges (overdraft fee, late fee, misc).

After that came the era of claiming the bank charges and lowered/capped bank charges. Other than increasing overdraft/interest rates, banks have started to limit the benefits of basic bank accounts and start pushing for fees to get any form of decent service/benefits.

See where I am going? Soon, most if not all banks will be back to fees at the rate we're going. Can you blame them? Banks have and need to maintain some form of profit margin, it's a business after all. If you're unhappy with one/two banks for screwing you over with fees/reduced service/benefits, vote with your feet and find an alternative while decent free bank accounts are still available!

Regards

ahai1

Yes I can blame for been overly greedy lending money to anything that moved and my favourtie blaming the customers.

Lokolo

ahai1 wrote: »

Yes I can blame for been overly greedy lending money to anything that moved and my favourtie blaming the customers.

HSBC are ones that haven't done this..... hence why they are one of the safest banks to be with at the moment

And hence why their shares price has been stable uptil now compared to other banks.