Do HSBC now have 1st and 2nd Class Customers?

bry2001

HSBC recently had a "sale" where you could get 6% credit interest on your current account. This was open to existing customers with a current account......but only if you moved 2 direct debits from an outside account to your HSBC account.

I pointed out to HSBC that my current account of 16 years standing was and had always been operated.....simply as a current account.....and so I couldn't possibly move in 2 direct debits, as they were all already coming out of my HSBC account. I also pointed out this seemed to be denying access to the 6% to those (obviously very odd!) customers who operate their current accounts.....just as a current account should be operated.

I had to make this a complaint in order to get a full explanation.....apparently the 6% is designed to encourage existing customers to come into a "full banking relationship" with HSBC.

The clear implication is that the sale excludes and discriminates against those customers who already have a full banking relationship with HSBC. So there are now customers with HSBC who have exactly the same account as me - but receive 6% credit interest, while I receive 0%.

Do HSBC now have 1st and 2nd Class customers?

Has anyone else been treated in this way?

Clearly I could have opened another account, set up 2 spurious DD/STOs and transferred them in - but after 16 years with Midland/HSBC I simply shouldn't have to play those games.

I know I operate my account in an old-fashioned and traditional way (maybe there is a case for age discrimination here?!) but I don't feel it's acceptable to be dumped on like this by an institution who has made great use of my credit balances over the last 16 years.

Context: I am a good customer: have had my salary paid in from Day 1, I stupidly leave too much in the account to earn nothing that HSBC can lend out....oh I was overdrawn once, about 13 years ago and paid it back within days! Maybe I don't go overdrawn enough.....clearly I must be someone to encourage to go and take their business elsewhere!

noh

You are not being "dumped on" but if you feel aggreived then move elswhere and take advantage of the offers various banks have.
You owe them no loyalty and they owe you none.

jalexa

bry2001 wrote: »

HSBC recently had a "sale" where you could get 6% credit interest on your current account. This was open to existing customers with a current account......but only if you moved 2 direct debits from an outside account to your HSBC account.

Are you 100% sure you have understood that point? What was the *exact* wording of the existing customer offer?

dunstonh

Do HSBC now have 1st and 2nd Class customers?

Banks have always had better relationships with some customers and not others. You couldnt call if first or second class but that would be the case with most commercial arrangements.

Has anyone else been treated in this way?

How have you been treated?

I stupidly leave too much in the account to earn nothing that HSBC can lend out.

You do realise that the bank cannot do that much with current account balances?

They are offering a product to attract new customers. You are not a new customer. End of story.

bry2001

Noh - thanks - clearly it's something I'll have to do. But having worked in the banking when long relationships and loyalty were cultivated and seen as good business, it's a shame that someone like myself just couldn't be accomodated - think of the postive publicity they'd have got at bonus time!! lol

bry2001

Yes...unfortunately.....I made sure on that, both in branch and via internet banking, as it seemed to be a bit weird.....if you already use a current account as a current account, chances are you won't have any DD/STOs to transfer over. I suspect it was to cover themselves from complaints they were excluding all but new business.

bry2001

Of course it's designed to attract new customers - but they also stated it was for current customers too.....even though they knew anyone operating their current account as a current account was excluded - hence the current position of 1st class and 2nd class customers.

If you read my orginal post - my complaint is just about being treated as 2nd Class when having exactly the same account. If I could have transferred in 2 DD/STOs I'd have kept the same account - just got the interest. If it was an entirely new product - no problem. Bottom line is it isn't - it's the same product - just with a different rate of interest to different classes of customers - that's where it's poor treatment.

MBNoob

At least they allow some existing customers to benefit from it. All the other banks seem to only offer it for new customers. Switch to Santander for their offers and see how you're treated when you're no longer a new customer.

The only solution is to move banks and continue to move banks. Would you be similarly annoyed if it only included new customers?

Banks do have to make money and sadly most people are wrong about how profitable they are to a bank.

pinkteapot

It irked me to. We are HSBC Premier customers. I looked at the offer and to get it you had to upgrade to Advance or Premier or open a new account.

We have a joint account (Premier) and no other current accounts between us. We don't need a new account (we have no interest in a sole name account for example). We can't upgrade; obviously we're not going to switch from Premier which is free to Advance which is paid for. It was a fairly stupid offer as far as existing customers are concerned. Unfortunately your only option is to switch banks.

brightonman123

the best complaint is moving your account ELSEWHERE..

that is the only way these greeedy b's wil ever learn, i fear?

horngkai

Or just have a few accounts around and take advantage of these offers when it comes