HSBC rage!!! New bank suggestions please.

Closing

I've been a HSBC customer for 16 years. It's only now in my late 20s, when I really need their help with some huge financial decisions I have found that they completely out of touch with my lifestyle and situation.

1) Credit card - Despite an excellent credit rating I have been denied a credit card by HSBC as I don't receive a regular BACS payment, paid to directly into my account each month. I work for several people and I am often paid via internet bank transfers, so despite earning £30,000 last financial year I was still denied a credit card.
Needless to say, I was instantly offered credit cards by LLoyds TSB, Santander and Capital One.

2) Part Ownership Mortgages - Me and my partner (he has also banked with HSBC 16 years) are applying for a shared ownership property. Out of loyalty, HSBC were the first bank that we visited on the high street. We were refused a mortgage point blank. A) because it was a shared ownership property and because we only had 10% deposit.
We have now received very competitive agreements in principle from 3 other providers.

3) Since reserving a shared ownership property we are in a mad rush to organise all the information and paperwork necessary to complete our mortgage application. In an age of instant internet banking we have yet again hit a wall with HSBC.
My partner has an account with Nationwide and we were told to print out internet banking statements that could then be verified and stamped by a cashier at our local branch, a process that took minutes. This is the complete opposite to HSBC, with cashiers refusing to verify the prints and refusing to produce anything that could be considered as verified.

All of our documents are now winging their way to our mortgage broker, except for our HSBC statements that he won't receive for over a week.

Our application is genuinely being held up by HSBC's archaic system. (However the cashier kindly pointed out that it would all be much quicker if we were applying for a mortgage with HSBC)

Phew, sorry for the rant, just so angry at how rubbish they've been recently!
HSBC have been so unhelpful in pretty much every aspect of personal banking.

Can anyone recommend a bank that have good internet banking facilities and treat you like a human? I'm not overly interested in deals and accounts with benefits, would just like a bank that aren't an absolute nightmare to deal with.

Thank you.

Closing

trikidy

I've had a few accounts, in my opinion, of course everyone has a different opinion, Santander have been the worst. As for online banking I would say Lloyds are the best I have had, seconded by Barclays. As for service in branch I would say Lloyds, but that may just be a good branch in my area.

yangptangkipperbang

Whilst I do have a little sympathy for you, it does have to be said, how much of your taxes was doled out to HSBC by the Government ?
Compared to LloydsTSB, HBOS, RBS, Northern Rock, etc, etc, etc HSBC have been a shining example of how to run a banking business - which may not be the way that you (or me !) would have liked them to run it.

They obviously consider you to be a "risk" that they don't need to take on. The other financial institutions which have offered you cards/loans, may not be so lucky with taxpayers' bailouts when the credit crunch returns - it hasn't gone away, the Euro zone is only 22 miles from our shores

I bank with First Direct - when I needed a mortgage at the age of 64 HSBC (parent company) didn't want to know but I didn't throw my toys out of the pram
over that. I went elsewhere - but still bank with First Direct. I certainly didn't take their refusal as a personal insult............

Closing

They obviously consider you to be a "risk" that they don't need to take on. The other financial institutions which have offered you cards/loans, may not be so lucky with taxpayers' bailouts when the credit crunch returns - it hasn't gone away, the Euro zone is only 22 miles from our shores [/QUOTE]

I completely appreciate banks carrying out risk assessments, I can prove my earnings and credit rating.

I'm more concerned about their impersonal approach to customers, blanket decision making and unbelievably bad customer service.

seriousDFW

Closing wrote: »

They obviously consider you to be a "risk" that they don't need to take on. The other financial institutions which have offered you cards/loans, may not be so lucky with taxpayers' bailouts when the credit crunch returns - it hasn't gone away, the Euro zone is only 22 miles from our shores

I completely appreciate banks carrying out risk assessments, I can prove my earnings and credit rating.

I'm more concerned about their impersonal approach to customers, blanket decision making and unbelievably bad customer service.[/QUOTE]

I agree and have had similar experiences in branch which has made me leave them for First Direct. I know they are the same company but I don't feel any frustration dealing with FD in the same way I did with HSBC.

With me I just hate HSBC's stupid telephone menu systems which take 10 minutes to tell you your balance when I knew from the beginning of the call I just needed to speak to someone. And the final straw was when I thought "oh, I'll pop into the branch to speak to someone, that will be the easiest thing" and I was told in branch to use their bright red phones to ring the call centre overseas. The branch service I've had from them is non-existent or else extremely frustrating.

That said, they were my bank from when I went to uni and for about 8 years after that, and to be honest I never had any major problems with their products, just the customer service thing that annoyed me. They were helpful once in temporarily extending my overdraft when I really needed it due to a delayed student loan payment, and they gave me my first credit card.

Gromitt

To be honest, you wouldn't have wanted a mortgage from HSBC anyway; sure, they can verify your account because its with them, but thats where it ends. To complete the mortgage application can take far longer than other providers. Evidence can be found on this very site.

colin79666

Well on points 1 and 2 I have to side with HSBC. You might well have earned £30k last year but you can't prove you will do the same this year and don't have a history of steady payments in. As for the mortgage you only have a 10% deposit and again no steady BACs payment in so they rightly see you as a higher risk. It is worth noting that while HSBC are not usually top of the savings rates or easiest to get a loan from they also didn't fall down with the likes of Llyods and RBS who do take on higher risks...

BugsyBrowne

I would take most of what HSBC have told you with a pinch of salt TBH, very rarely would they know why you were declined and as most of us know they come up with loads of excuses like any other bank.

Also bank loyalty doesn't occur as new customers will always generally be looked at more favourable & they will get the best deals.

Just my 7p worth but think they are feeding you a load of crud.

Most of wages are have always been cash or bank trnsfers but it didn't stop barclays giving me a loan & platinum card. PRE-approved.

Closing

I completely understand why they're wary of shared ownership mortgages, I'm sure it's much more of a nightmare legally when they're considering the possibility of repossession.

I'm just sick of being with a bank that have seen 25k a year from me over the last 3 years and won't even give me a basic credit card due to technicalities.

The credit issue aside, their customer service is horrendous. Taking 2 weeks to provide the statements for a current account is crazy. It's costing me time and money and the staff are completely unapologetic about how old fashioned it all is.

I'd love to hear about a bank I can transfer my current account to that have a more personable approach.

BugsyBrowne

Closing wrote: »

I completely understand why they're wary of shared ownership mortgages, I'm sure it's much more of a nightmare legally when they're considering the possibility of repossession.

I'm just sick of being with a bank that have seen 25k a year from me over the last 3 years and won't even give me a basic credit card due to technicalities.

The credit issue aside, their customer service is horrendous. Taking 2 weeks to provide the statements for a current account is crazy. It's costing me time and money and the staff are completely unapologetic about how old fashioned it all is.

I'd love to hear about a bank I can transfer my current account to that have a more personable approach.

I had enough of bank loyalty with Barclays being a customer for 18 years and TBH couldn't fault them but needed a change and opened up a lloyds account and very happy so far.

Thrugelmir

Closing wrote: »

I'm just sick of being with a bank that have seen 25k a year from me over the last 3 years and won't even give me a basic credit card due to technicalities.

You've used their banking services for free , little else.

So keep matters in perspective.

I've banked with Lloyds for decades. Yet I've rarely bought any of their products.