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

KxMx

I told HSBC I wasn't happy with my ISA rate, and unless they offered a better deal, I would transfer the ISA and my current account too, and they've added another 1% to my ISA for 12 months

Lith

KxMx wrote: »

I told HSBC I wasn't happy with my ISA rate, and unless they offered a better deal, I would transfer the ISA and my current account too, and they've added another 1% to my ISA for 12 months

Your'e lucky they did that... most banks don't give a !!!!!! these days if they lose customers.

redmalc

KXMX,you are a lucky person,are you female with blonde hair and four foot legs.
HSBC have let me transfer a large amount of cash the last few months because of this 6% current account issue which they would not give me,also they will be losing 90K from our two Isa,s in April,they do not care a s,,t

GlamGirlie

Yes, HSBC has several classes of customers! The offer was indeed to bring in new business, to gain them a greater share of the client's wallet and therefore greater income to the bank.

Giving you a higher rate of credit interest costs them money - what are you giving them in return if you can't bring more business to them?

HSBC's view is to treat customers fairly not equally, therefore those who make the bank more money are considered more important than those who make it no money, or lose it money.

Somerset

GlamGirlie wrote: »

Yes, HSBC has several classes of customers! The offer was indeed to bring in new business, to gain them a greater share of the client's wallet and therefore greater income to the bank.

Giving you a higher rate of credit interest costs them money - what are you giving them in return if you can't bring more business to them?

HSBC's view is to treat customers fairly not equally, therefore those who make the bank more money are considered more important than those who make it no money, or lose it money.

The model is fine - costs X (interest) to procure X new customers. The problem is the unknown/unseen cost of Y in losing an unknown number of existing customer's who are disallusioned/annoyed about not being treated similarly.

If a bank spends thousands gaining new customer's but it costs them thousands by losing existing customer's, it's a bit pointless ?

They are all at it and it annoys me too :
- LloydsTsb and their different offers for different ISA accounts a few year's back.
- NatWest's offer of 3.1% to 'selected' e-saver account holder's last month.

Those two affected me hence why I remember them. In both instances the funds were moved elsewhere.

KxMx

:rotfl: No not a blond with four foot legs

Actually I made the threat and corresponded with them through the Secure Messages system via Internet Banking. I played on the fact i'd been with them a long time (10+) years and saw my financial future eg mortgage with them etc.

Just lucky I guess.