New bank, same poor service - HSBC

InsideInsurance

So, following the advice from the peps here and with my need to make fairly regular transfers of modest sums to the USA I duly called the HSBC. Spent 30 minutes or so listening to them going on about the benefits etc and they said yes they could help as I could get a mirrored account in the USA and free transfers between them.

Bit later called back and spent an hour on the phone opening an account. Was offered a whole host of worryingly high credit limits which I declined.

Go in branch, another hour later I walk out with internet banking setup and account number etc plus a telephone number to ring to set up the USA account. After 2.5 hours I thought it was all going ok other than the small failed call back right at the start.

So, call the overseas team. They say, no, cannot open a USA based account unless you are visiting at least 3 times a month or planning to move in the next few months. I query as I had been told by 4 HSBC staff that I could and they say that what I was told was evidently wrong.

Call the telephone banking helpline to say I want to close my account. Get told that the department was closed but someone would call me back Saturday morning. No call back to date nor a response to my online secure message of the same effect.

Its sounding like I may have had a lucky escape and that HSBC is as bad as Barclays. :mad:

Gromitt

It is strange how different the customer services is between HSBC and First Direct, considering one is just a division of the other!

I'm still confused over their "14 day cooling off period". It would make sense for fee paying accounts (ie, the first payment becomes due 14 days after opening), but not for free/basic accounts, but the staff seem to think otherwise.

InsideInsurance

The problem with FD for me is (1) they are going to be very expensive for international transfers and (2) they want to do a full credit scoring on my wife. She has only one credit card and one basic bank account with no o/d and isnt on the electoral roll and whilst no defaults/ CCJs etc the lack of history has proven a problem in the past.

HSBC at least just do ID and fraud checks but not full credit scoring as they dont see it as extending the risk they are already taking by adding her to an existing account.

gt94sss2

InsideInsurance wrote: »

So, call the overseas team. They say, no, cannot open a USA based account unless you are visiting at least 3 times a month or planning to move in the next few months.

Sounds as if you have been unlucky - am sure whoever told you that will be wrong..

Regards
Sunil

InsideInsurance

Well, if they ever call me back re my request to close the account then I am sure it will be discussed.