HSBC Premier - is it worth a switch?

philip1427

I am currently in the considering moving my everyday banking to an HSBC premier account. In order to meet the criteria I am considering moving my cash ISA over to HSBC. I will take a hit with the interest rate, losing around £300 however I feel I will gain more back in the form of their switch offer, world wide travel insurance and avios credit cards which HSBC premier accounts over. Other than my ISA I do not plan on holding any other money in this account. I am really surprised with the interest rates offered by this bank!

However I am looking for some customer reviews of this account. Is the service good? Does the account come with a cheque book? Any positives or negatives I’m missing here?

Thanks in advance

hangonthebox

I have held this account, along with other HSBC products, in the past for a period spanning about three years. The benefits don't need commenting on, they either appeal or they don't. I personally did not have any of the credit cards or other lending products HSBC offer so can't comment on those. I left HSBC due to their shockingly bad customer service. If something could go wrong it did. Missing chequebooks, international transfers cocked up (and the resulting stress for me having to chase up their errors) plus the couldn't care less attitude of HSBC staff. Good service is more important for me so I upped and left to join Yorkshire Bank with whom I'm very happy. I no longer meet the criteria for this account anyway, but the experience has ensured I'll never again be a HSBC Group customer.

philip1427

Thank you for your comments. This is concerning for me as I still require the use of a cheque book and I do the odd international payment!

Did you experience these problems recently?

System

I had the HSBC Premier Service once upon a time, and it was probably the worst service that I have received from any bank. They messed up transferring an ISA from Nationwide. Good luck transferring your ISA.

hangonthebox

philip1427 wrote: »

Thank you for your comments. This is concerning for me as I still require the use of a cheque book and I do the odd international payment!

Did you experience these problems recently?

I closed my HSBC accounts about three years ago.

Katiehound

I just have the HSBC Advance a/c- for all the switching goodies that came with it three? years ago. Account just ticks over so that I can have the 5% regular saver.
Never had any problems with them. They are particularly pleasant and helpful in branch.