HSBC Changing all Bank accounts

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Lokolo wrote: »

Because that 0.1% could buy a 1p sweet damnit. You are taking away that priviledge!!!! Down with HSBC!!! (:D)

It is disgraceful. All of those people with 10 million quid in their current account will now not receive their six hundred and something quid interest. Please, someone think of the extremely wealthy financial dimwits!

ahai1

I have nothing against them making a profit but they should not insult their customers by telling them it will be an improvement.

I am one of those leaving HSBC by taking my ISA elsewhere.

I thought that student banking was about getting people hooked on debt? I am no big fun of the overdraft but it was promised and they should honour it.

As for the overdraft I will wait for the judgement from the Ombudsman but there is bound to be a lot of new customers for A&L.

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ahai1 wrote: »

I have nothing against them making a profit but they should not insult their customers by telling them it will be an improvement

But... it IS an improvement. In exchange for that 0.1%, they get a few other services for free. Free. Gratis. You might not want those services, but they are on offer. If someone offers you a bar of Dairy Milk instead of giving you a penny chew, you may not want the Dairy Milk but you can hardly complain you're getting nothing!

ahai1

You are not comparing like with like.

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How so...?

ahai1

You are comparing simple sweets with complicated financial products.

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ahai1 wrote: »

You are comparing simple sweets with complicated financial products.

No, I am comparing being given something better with the removal of a far smaller and less nice something, with being given something better with the removal of a far smaller and less nice something. Hmm.

SparciaM

The new accounts with HSBC that you get the 'free' extras are given at every other bank (apart from the odd one).

You get free 24/7 internet banking as well as Telephone and Branch Banking with every bank in the UK - unless their systems go down.

Subject to status, you get an overdraft facility and most banks a hell of a lot lower than the HSBC 19.9% EAR.
Subject to status, you get a free debit card - same as all other banks.
Cashback is new to debit cards and HSBC, but you get cashback credit cards which can be used EVERYWHERE, but with HSBC it is at 'various' outlets.
Monthly statements are with all banks.
8% Regular Saver. First Direct do it, Abbey or Halifax (can't remember which one) does a 10% regular saver.
Indentity theft should be a given on all bank accounts with 24/7 banking.
Mobile banking is also available at most banks (Lloyds doing payments etc via phones/texts etc). plus the HSBC one is only free on O2, Vodafone, T-Mobile and Tesco. not on Orange, Virgin, 3 etc

So like for like, the HSBC new account doesn't really offer much new than what other banks offer.

Yes it's good to get it all in one place and 'packaged', but it aint the best deals. Plus HSBC savings rates bar the 8% are not that competitive.

At the end of the day if you don't like your bank leave. I had a Midland account and then a HSBC Student account then a HSBC Graduate account. Never had any problems with them from school until about 3 years ago and then after seeing this site realised I was banking all wrong and now have no accounts to HSBC as they don't offer me what I want. If they offered something good, I'd be tempted to go back - BUT - with all automated branches in Manchester CC (no-one to actually speak to), with the bad customer service I received towards the end and the bad branch service, I don't think they would ever offer anything good enough for me to go back to them.

ahai1

I am off or going off anyway as I have opened a credit union account and I am transferring my ISA hopefully in the long run I will be shot of this bank.

Thanks for clarifying this.

Inactive

ahai1 wrote: »

Inactive do you want to start a anti HSBC campaign with me?

Nice idea, however it really doesn't make much difference what we say on here, their staff and a few others are so blinded by the spiel that HSBC dishes out, that they cannot, and never will see the wood from the tree's.


Well the staff may, when HSBC finally replace them with a machine, or move their jobs overseas.;)