HSBC Advance vs HSBC Premier vs First Direct

ozaz

Hi,

I'm a long-time HSBC standard bank account customer. I'm eligible to upgrade to HSBC Advance but need to make an appointment at a branch to do so. I'm also considering switching to First Direct. In both cases the main incentive is to improve quality of telephone banking and to access 5% regular saver. I'm not bothered about the £100 incentive for switching to First Direct. First Direct's lack of branch network is a negative for me but not a deal-breaker.

I wonder if anyone could comment on the quality of telephone banking between HSBC Advance and First Direct?

I know First Direct gets best customer satisfaction and HSBC gets low customer satisfaction. However, I'm assuming HSBC's ratings are significantly dragged down by the experience of non-Advance/Premier customers as well as those who primarily bank in branch. Comments?

I'm not eligible for HSBC Premier, but I have some experience of HSBC Premier when I was on a joint account with a Premier customer a few years ago. I thought the telephone banking service was excellent (zero wait times, very helpful and knowledgeable operators). If telephone banking on Advance is at the same level as Premier I'd be happy to stick with HSBC rather than switch to First Direct. Can anyone comment on Advance vs Premier phone banking?

Thanks

System

ozaz wrote: »

First Direct's lack of branch network is a negative for me but not a deal-breaker.

First Direct (as a sub-brand of HSBC Bank) have access to HSBC branches for basic transactions. What other stuff would you do in branch (and not online/over the phone) with HSBC proper?

ozaz

Heng_Leng wrote: »

First Direct (as a sub-brand of HSBC Bank) have access to HSBC branches for basic transactions. What other stuff would you do in branch (and not online/over the phone) with HSBC proper?

Relatively little I suppose. I've had a bank loan in the past and I imagine it's more of a hassle to do do paperwork via post than it was in branch. I've also used safe deposits in HSBC branches on a couple of occasions. But I can probably count the number of times I've needed branch banking in the last 15 years on one hand (aside from paying in cheques/cash). I've always assumed there is some benefit to the fact that HSBC has a global branch network, although I have not yet needed this.

Lack of First Direct branches is not a major issue for me. But if First Direct is not significantly better than HSBC Advance (in terms of phone + internet + other benefits), I'm inclined to stick with HSBC because I'm used to them and because of the branch network which may or may not be useful in the future.

the_silence

Incidental, but I recently applied to to switch to FD.

They called me as they needed some additional security details, and I was then advised that they would need to call me whilst I was at work to verify the same security details again, and that I would be sent information on what ID documents they would certified and sent to them.

Decided that it's not really worth the effort right now, particularly the certifying documents thing, and that the switch would take longer than I thought, so decided to cancel the application (which wasn't guaranteed to then get approved anyway).

Kev17

I bank with both and find First Direct better for telephone banking, normally put through to someone after a few rings.

HSBC don't seem to be as friendly on the phone and was a hassle when I forgot my password.


You can use HSBC branches and if you want to deposit money you can do this in a post office branch, I think it's up to £1000

I prefer First Direct over HSBC purely because the customer service and no automated phone messages to go through

ozaz

Kev17 wrote: »

I bank with both and find First Direct better for telephone banking, normally put through to someone after a few rings.

HSBC don't seem to be as friendly on the phone and was a hassle when I forgot my password.


You can use HSBC branches and if you want to deposit money you can do this in a post office branch, I think it's up to £1000

I prefer First Direct over HSBC purely because the customer service and no automated phone messages to go through

Thanks. Just to clarify, which type of HSBC account do you have?

colsten

If your main objective is access to a 5% Regular Saver, you could consider Nationwide whose 5% saver takes up to £500 a month. In addition, their FlexDirect account can pay 5% on up to £2,500 a month, and their online banking knocks spots of HSBC's and FD's. The application process at Nationwide is massively less complex and long-winded than FD's.

I can't say how they are on the phone as I basically never have a need to call them. Plenty of branches, too. And there is a refer a friend offer, £200 between the two of you.

ozaz

colsten wrote: »

If your main objective is access to a 5% Regular Saver, you could consider Nationwide whose 5% saver takes up to £500 a month. In addition, their FlexDirect account can pay 5% on up to £2,500 a month, and their online banking knocks spots of HSBC's and FD's. The application process at Nationwide is massively less complex and long-winded than FD's.

I can't say how they are on the phone as I basically never have a need to call them. Plenty of branches, too. And there is a refer a friend offer, £200 between the two of you.

Thanks. I already have Nationwide (recently opened) for their high interest rates, although my day to day banking is still with HSBC. Would like another 5% regular saver and good phone service in case I decide not to move day-to-day banking to Nationwide.

Kev17

HSBC Advance account, I dont see any benefit to it other than the regular savings account.

I joined for the incentive and at the time they were given you £10 extra a month for having an ISA with them, I'm only keeping it opened for the RS

Doctor_Duke

ozaz wrote: »

Thanks. I already have Nationwide (recently opened) for their high interest rates, although my day to day banking is still with HSBC. Would like another 5% regular saver and good phone service in case I decide not to move day-to-day banking to Nationwide.

You could use Nationwide's recommend a friend and get someone to recommend you then switch your HSBC account and you both get £100. You can do this by switching to your existing Nationwide account. Just a thought.

ozaz

Doctor_Duke wrote: »

You could use Nationwide's recommend a friend and get someone to recommend you then switch your HSBC account and you both get £100. You can do this by switching to your existing Nationwide account. Just a thought.

I was aware of this when I opened the Nationwide account. But I have been assuming it would be easier to upgrade to HSBC Advance if I my regular HSBC current account is still open. If I used the Nationwide incentive I assume the HSBC current account would have been closed. Also, If I decide to switch from HSBC to First Direct, I have the option of £125 reward if I still have an open HSBC account to switch from.