Baffled by change in HSBC rules

marinheiro

I got a note from the HSBC today saying they were changing their rules again, and I could either accept or close my Personal Internet Banking account with them. This time I don't get what they're up to at all, does anyone know what this is about? The newly added rule is:

"You authorise us to add to PIB all of, or any combination of, the products/services (including those you hold jointly with someone else) that you hold now or in the future with us, other HSBC Group companies, and/or certain other third parties with whom you have a product/service that you opened through us or through another HSBC Group company. This includes (without limitation) your authorisation to add to PIB any products/services that you hold with certain other third parties following advice from us or another HSBC Group company."

So they want to add some products - they are not telling me what they are, but I'm sure they know exactly - to my internet banking account. What kind of thing is this likely to be? Some kind of tracking software? I'm baffled what they might want to force me to include in PIB, if it's not a bank account?

Cheers
Graham

rb10

It looks to me as though they are just saying that internet banking may show all of the accounts that you hold with HSBC or a part of the HSBC group.

MoneySaverLog

It's a generic message, I've just logged into my internet banking account and have got the same message.

Suspect that First Direct and HSBC accounts will now show up in Internet banking as a result. Not sure if that's a good thing given First Direct lending restrictions on me. Not that I want to borrow from HSBC.

RobTang

marinheiro wrote: »

So they want to add some products - they are not telling me what they are, but I'm sure they know exactly - to my internet banking account. What kind of thing is this likely to be? Some kind of tracking software? I'm baffled what they might want to force me to include in PIB, if it's not a bank account?

Products are the ones that YOU have taken out with HSBC or others as mentioned and these will be shown in your PIB.

As said before other back accs with hdsc group companies, but more likey things like loans, savings, pensions, investment accounts; anything they sell that you have bought from them really.

marinheiro

Any account I have with the HSBC is already in the PIB anyway, so it's this other thing about adding 'any products held with certain other third parties' that must be the point. So what third parties and what products?

Graham

Escorcio

marinheiro wrote: »

Any account I have with the HSBC is already in the PIB anyway, so it's this other thing about adding 'any products held with certain other third parties' that must be the point. So what third parties and what products?

Graham

I'd imagine this would include insurance / investment products which are held with third parties, though set up with HSBC, such as Premier Investment Management Services or something similar set up by a HSBC Independent Financial Advisor