HSBC Changing all Bank accounts

Inactive

MattLFC wrote: »

What do you want them to do, continue employing staff and losing money that they dont need to be?

Not at all, I was simply demonstrating how HSBC are also in a financial mess, like most of the banks, Banks don't make huge staff cuts if they are doing well.

The stock market only reflects the confidence of investors, so again, this price is related to their performance.

All I am saying is that I would not trust HSBC to give good financial advice to their customers, when they cannot get their own act together, like most banks.

ahai1

HSBC are luckier then others but they are still in a mess after what household did in the States. If they were in such a good condicition they would not have changed the accounts.

Inactive I agree I would not take any advise on many matters from any of the banks.

ShelfStacker_3

ahai1 wrote: »

HSBC are luckier then others but they are still in a mess after what household did in the States. If they were in such a good condicition they would not have changed the accounts.

Wrong. The changes are to encourage more people to pay their salaries into HSBC, rather than use their HSBC accounts as secondary ones, as the former are more profitable. Simple as.

Also, their survival has little to do with luck; rather more to do with simply having a workable lending policy.

ShelfStacker_3

Inactive wrote: »

If HSBC were offering truly independant financial advice to customers, I would not have a problem with what they do, however they are in my opinion, fleecing their customers by offering over priced, poor value products to them in many cases, this by getting them in to branches by deviant methods.

Why should they give independent financial advice? If you want independent financial advice then surely you'd go to an independent financial advisor and pay for the privilege, not go to a specific bank, and I certainly don't see anyone selling Individual Reviews or whatever as being in any way independent.

ahai1

I really don't want to rehash the arguements about the new accounts I am sure that we all have different views and we are not going to be agreeing anytime soon.

As for HSBC yes I do agree that they did not do some of the stupid things that the former building societies did for example self certified mortgages. However it is becasue they are so big that they can absorb the impact of Household as a smaller bank would have been in deep.

ahai1

Where I live we can get to one branch from another of Lloyds on the bus easily about 15 minutes or so. We don't have any HBOS though.

Inactive

ShelfStacker wrote: »

Why should they give independent financial advice? If you want independent financial advice then surely you'd go to an independent financial advisor and pay for the privilege, not go to a specific bank, and I certainly don't see anyone selling Individual Reviews or whatever as being in any way independent.

But SS you and other HSBC employees have been telling us all that the " sales pitches " that hide behind the title; Account Reviews are to help customers and give them financial assistance, yet I think we all know that any "advice " given is biased and in the best interest of HSBC, not the customer.;)

I still believe that these tactics are tacky and border on being deviant.

Inactive

ldavies wrote: »

Evening!

hardly major job losses.. the new LLoyds outfit will undoubtly make thousands of ppl redundant and close hundreds of branches when they eventually restructure their business..

HSBC announced 540.. less than 1% f the total uk workforce.

Morning;

You wouldn't be saying that if you were one of the unfortunate 540.;)

I only mentioned the reduncies because someone earlier seemed to think HSBC should be free of any criticism in the wider banking debate, which of course they should not.

All banks in the UK are to blame for the mess we are now in.

ahai1

Thank you Inactive. I thought that most of the staff work overseas in call centres.

SimonM_2

ShelfStacker wrote: »

Wrong. The changes are to encourage more people to pay their salaries into HSBC, rather than use their HSBC accounts as secondary ones, as the former are more profitable. Simple as.

I presume you mean the changes from "Bank Account" to "Current Account Advanced"?

How do the changes encourage people to pay salaries in rather than use it as a secondary account? My HSBC account was the one that had salary paid in to, up until the end of November. Because of the changes (and the shambolic way HSBC have handled it) I've shifted my banking elsewhere, and the HSBC account is now very much a secondary one...