Laughable experience opening HSBC account

xiox

I'm trying to access HSBC's tracker range, for which I need an HSBC account (saver or current account). So I thought I'd open a savings account.

I receive a letter from their about the "Online bonus saver" (0.75%!) with some very contradictory information. The want some identification - the usual, including driving licence, passport, etc, which must be shown at a branch. However, the only way of proceeding without visiting a branch is a recent letter from HMRC (not a P45 or P60) or a Benefits Agency letter. How many people applying are likely to have these?

I'm probably ok with visiting a branch, but this is pretty silly in this day and age (why can't they just take my passport number like Citibank could?). At the bottom of the letter it says "Please do not hand this documentation into our branches as this may delay completion of your application"! (the bold is theirs)

They've nicely provided a phone number in the letter (there's no reference letter on the letter, however), so I ring the nice guy in India, who has no idea about what documents I need or much idea about much and he tells me to ignore the bold sentence in the letter.

What a great way to treat potential customers!

sabretoothtigger

Alot of it would be EU anti laundering laws.
I once went round town in an afternoon collecting free bank account gifts, I registered at a friends address, I was sleeping on his sofa for a month and cant remember having any proof of my address, etc. How times change

JoeCrystal

sabretoothtigger wrote: »

Alot of it would be EU anti laundering laws.
I once went round town in an afternoon collecting free bank account gifts, I registered at a friends address, I was sleeping on his sofa for a month and cant remember having any proof of my address, etc. How times change

Huh? What free bank account gifts? They actually give you something for opening a bank account? What a strange and mystical time that must be.

Cheers

Joe

ses6jwg

HSBC could not give a flying !!!! about their UK retail customers - you can see this by the paltry savings rates they offer.

I have had many people switch their banking and savings accounts to us having complained about recieving bad service from their local HSBC branch. One customer asked to book an appointment to review the 10k in his HSBC flexible saver account, he was asked "Are you a Premier customer?" to which he replied "No", and was told "There's no point booking an appointment then, because we don't really need your money (!!!!!)"

MoneySaverLog

HSBC / FD rates are bad I agree, they do however have the best regular saver accounts out there with 6% and 8% respectively.

Not somewhere to stick £10K in though, better off having 2 vantage accounts with LTSB (5K in each both earning 3%)

Maestro.

xiox wrote: »

However, the only way of proceeding without visiting a branch is a recent letter from HMRC (not a P45 or P60) or a Benefits Agency letter. How many people applying are likely to have these?

I had the same thing when I tried to get an RBS account. They messed me around for ages and then told me I had to get HMRC to write to me... so I went and rung HMRC, answered a load of questions I had never heard before and was then told I had made a wrong answer and the call was disconnected.

Haven't been to RBS since :rotfl:

Chargem

xiox wrote: »

They've nicely provided a phone number in the letter (there's no reference letter on the letter, however), so I ring the nice guy in India, who has no idea about what documents I need or much idea about much and he tells me to ignore the bold sentence in the letter.

Their call centre for banking is in Scotland, so you may be very muddled with accents...

oldvicar

ses6jwg wrote: »

HSBC could not give a flying !!!! about their UK retail customers - you can see this by the paltry savings rates they offer.

I have had many people switch their banking and savings accounts to us having complained about recieving bad service from their local HSBC branch. One customer asked to book an appointment to review the 10k in his HSBC flexible saver account, he was asked "Are you a Premier customer?" to which he replied "No", and was told "There's no point booking an appointment then, because we don't really need your money (!!!!!)"

I don't have savings with HSBC or the bank ses6jwg works for. But if I had to choose where to put my money do I choose:

• HSBC which (allegedly here) doesn't care about me and would give me poor/mediocre customer service. They say they have so much money they aren't bothered about having my savings, so they pay poor interest but at least they must be safe?
• First Direct, HSBC's subsidiary who (according to consumer surveys) give top-flight customer service, and are as safe as the rest of HSBC ??
• ses6jwg's bank which (according to the same surveys including here on MSE) give bottom-of-the-heap customer service but at least seem desperate enough for money to usually offer something in the 'best buy' (i.e. highest rates) tables ?
• somewhere else (apparently my actions so far suggest I prefer this)?

gt94sss2

xiox wrote: »

I'm trying to access HSBC's tracker range, for which I need an HSBC account (saver or current account). So I thought I'd open a savings account.

I suspect you would probably be better off opening a current account..

the only way of proceeding without visiting a branch is a recent letter from HMRC (not a P45 or P60) or a Benefits Agency letter. How many people applying are likely to have these?

Lots.. either because they get some form of benefit/tax credit or receive something from HMRC like a Notice of Coding each year. I think HMRC issue these on demand if you ask for one..

Regards
Sunil

gt94sss2

ses6jwg wrote: »

HSBC could not give a flying !!!! about their UK retail customers - you can see this by the paltry savings rates they offer.

I think most banks would like to offer the rates HSBC do these days. But can't as they are desperate for cash. HSBC were more sensible during the 'boom' years and never lent more than they had in deposits..

Banks only offer higher interest rates if they have too - its not a choice they deliberately make..

I have had many people switch their banking and savings accounts to us having complained about recieving bad service from their local HSBC branch. One customer asked to book an appointment to review the 10k in his HSBC flexible saver account, he was asked "Are you a Premier customer?" to which he replied "No", and was told "There's no point booking an appointment then, because we don't really need your money (!!!!!)"

Of the big 4/5 banks, I think HSBC come top of the customer service lists - of course, First Direct and Smile greatly beat these scores.

However, the thought of any bank 'reviewing my finances' would fill me with terror.. the good thing about HSBC branches is when you go to a teller they don't try and flog you lots of other things unlike some other banks..

Regards
Sunil

rb10

HSBC offer poor savings rates simply because that's not a part of their business that they focus on.

Most of their profits are generated through different business lines, so they just don't play in the retail deposit space.

In most surveys, HSBC tend to come in second place of the high-street providers, after Nationwide.