HSBC Changing all Bank accounts

Inactive

ldavies wrote: »

Rapid? Not bad since 1992 then eh....

Again, im sure there is a bank that will meet your every need somewhere.

If people are unhappy with such service, there are a couple of tax payer owned ones maybe right for you!

Well at least you appear to concur with my comments at least, I hadn't realised it had taken HSBC that long to ruin what was once an excellent bank.

I don't need any HSBC Manager to advise me of any banks that may be more suitable than HSBC ..... Thank you.

Your attitude appears to be if you don't like, it ...sod off..NICE !!!:rolleyes:

Mrs_Ryan

My partner has been with HSBC for 19 years, from Midland, and in that time he has been overdrawn twice. He used to pay in over £1000 a month and he has a perfect credit rating. Yet his account was left to fester and he didnt even have a Maestro card until I ordered him to ask for one! He got one immediately with no problems, which I think goes to show his account was run well. But HSBC couldnt give 2 hoots about him - so he moved his account to Alliance and Leicester who gave him everything immediately and love him (mind you, he's got a mortgage and savings with them - that could be why ha ha)

And yet it's these loyal customers who HSBC are losing in droves - my dad for instance - they wouldnt give him any more than a basic current account, he is a pensioner who has never had credit in his life, my mum asked if they went for a joint account (she has four or five credit cards plus loans and she had a full current account with Maestro elsewhere at that time) could they have a better account and she was told rather rudely that because she was 'only on benefits' she would get the same!!! Needless to say, Lloyds TSB were more than happy to open them a Platinum account with large overdraft (never used once) plus personal loan (paid off now I believe) and credit card! (ditto - platinum) Wheres the customer service levels there then???!!!

And as for the comment about living beyond their means - that reminds me of a comment passed by a rude 'customer service' person when I was a struggling student struggling to control my overdraft (with hsbc at the time) She was ranting about all the 'unnecessary' transactions I had made, which ok fair enough some of them were, and I was utterly gobsmacked when she said 'You've spent 10 pounds in Tesco, that's completely unnecessary as well!!!' Er - hello? So food is a luxury now???? After that, I shifted my account - sharpish! Dont be so quick to judge - you bank staff!
Even though Im not a customer, I think HSBC are shooting themselves in the foot a bit tbh.

mb444

I am an HSBC customer from the Midland days when my mum took me into the bank and opened up a children account with them.

Over the years that account became a student account and now a current account. I hold a mortgage and a credit card with them.

However I have to say that I have noticed a sharp decline in the quality of service and unashamed ruthless from HSBC.

Their rates are universally uncompetitive and it is unclear to me how they are expecting to carry on.

Over the last year I have been bombarded with post and phones about current account plus. I had to repeatedly point out that I get exactly the same service without a fee each time I got a call from some uber-pushy sales rep. It’s pathetic, they then started to offer it for free for 6 months……….on the basis I suppose that I will forget to cancel.

They used to give me competitive car insurance quotes and I had insurance with them for 4 years, yet last year they hiked the quotes expecting me not to switch. (I did not have any accident, nor changed areas or anything)

They have started sending these annual overdraft agreement letters. I am fortunate not to have needed an overdraft for a long time, yet these bogus draconian letters just serve to pi*s me off.

I held 4 ISAs with HSBC. Just moved them to natwest because of the low rates offered by HSBC. Frankly should have moved them years ago.

Obviously they are a business and in it to make money. I would suggest to HSBC that they should do it in a less cut throat way. I have to say honestly as a long term customer of HSBC that you keep on doing what you are doing you will lose lots of customers.

In terms of free banking I don’t know why people think banking is free; the banks make money from our deposits. If they did not they would not be providing such service. Banks are not altruistic.

[FONT=&quot]Its great that websites such as these exist. I only kind of discovered this site this year! It has helped me a lot to be more aware. I am I suppose your typical idiot who have banked with the same bank for years and have been treated like a cash cow by them. However thankfully this is not the case any more and I think as consumers we should be just as ruthless as the banks. Switch often and treat them with the same contempt as they treat their customers.[/FONT]

ShelfStacker_3

peediedj wrote: »

hsbc are evil,opened a account with them 4-5 months ago(was a offer on keep it open 3 mnoths and you got £50 payed into the account)and £50 thru quidco,have written to them 5 tiems asking them to close the account,but every month i gte a letter tellnig me iam more overdrawn,its upto £53 yet havent had my £50:mad:

They won't close your account if you're overdrawn. The reason you're overdrawn is because you signed up for Bank Account Plus, which costs £12.95 a month (HSBC have not, as far as I recall, just had a £50 promotion for the standalone Bank Account). You're contracted for 12 months, and any cooling off period has long since passed. If you want to break out of the contract, there will be a fee; the exact size of this escapes me.

dougz_2

ShelfStacker wrote: »

Again, base rate drops. And unless you have a really overriding reason to keep your money in an IAS, you'd be much better off changing to the product that replaced that account, the Flexible Saver, as that pays more interest.

Yes it was that account I was talking about, which is the only generic (for all customers with no penalty or notice) instant saver you offer I believe. Now I dig into your historic rates I see you did used to sell a product by the name Instant Access Savings, that has fallen even worse in proportion to the base cut and is now only 0.7%.

The point I was making is that, from a savers perspective, as base rate drops from 5% to 4.5% it 'costs' an 11% bigger deposit to buy the same interest, so is like a 11% price rise hitting savers. However, you have passed on that rise, using the same formula on the 2% to 1.5% change, as a massive 33% price hike. So it just does not wash that you are simply passing on the base cut.

Companies like Tesco are recognising that in the current climate the customer is looking for 'value' deals. Yet HSBC seem to be going in the opposite direction, and either hiking the costs of their services, as above, or giving less for the same price in the case of the standard current account. It just all seems a bit insensitively timed. Yes HSBC has the benefit of being seeming the safest bank, but that is only going to last as long as peoples paranoia. When that dies down they will be back to hunting for the best deal more than ever.

Froglet

I'd like to buck the trend here and actually praise HSBC.Maybe i am just lucky in that i have a village branch where they are always friendly and helpful should i have a query.But i mainly use the internet and find it quick and easy to use.

I have banked with Midland/HSBC for nearly 40 years.In that time i have only had a couple of problems and it has always been sorted out rapidly.When i moved to this area several years ago i was fleeing a violent husband who i obviously did NOT want to find out my new address and was scared stiff the new details would be sent to my old address.The manager went out of his way to help and took it upon himself to make sure nothing was done that would put me in any danger.He was fantastic,and so were his staff.

As for the new account,my second husband and I have a joint one,and will be transferred over to the advance one..I am currently on my third regular saver and as they had been withdrawn,am delighted i am able to open another one when this one finishes in December.I open accounts when their rates are good and if they then prove not to be i can easily close them and transfer the money elsewhere with no hassle whatsoever.

I would never consider changing for a better rate of interest on my current account,i believe good service is more important.

Lyncroft

Been with HSBC over 25 years according to their letter. Very few problems with them and when I have they've been promptly sorted out. I'll be going to their advance account and will open a regular saver. Everything else will go out to a higher paying account.

ahai1

The major change I have noticed is that HSBC will not be giving any interest on current accounts even though it was a really bad level.

Lokolo

ahai1 wrote: »

The major change I have noticed is that HSBC will not be giving any interest on current accounts even though it was a really bad level.

0.1% --> 0.0% I am sure you will notice the difference.

ahai1

It is the principle of the thing. Their so called telephone service is useless as you can't understand the person at the other end. As for internet banking if you send them a secure email you get a different answer to the question you asked.