How do people feel about HSBC supporting China's new Hong Kong national security law?

notveryeducated

coachman12 said:

notveryeducated said:

I have a HSBC Student account and I'm not going to switch away/close my account down with them after hearing about this. I've had a consistently good service on the phone and in branch from HSBC, they have a 2.75% regular saver, their online/mobile banking is acceptable and from what I've heard they're a very good mortgage provider.

And you have every right to do as you please, just as we all did during apartheid in S Africa, when every single little act of defiance against the S African Govt, including boycotting of goods and stopping financial enterprises with them,  all led to the eventual ending of an awful injustice.

I guess you are kind of right, thanks for that. 

coachman12

notveryeducated said:

coachman12 said:

notveryeducated said:

I have a HSBC Student account and I'm not going to switch away/close my account down with them after hearing about this. I've had a consistently good service on the phone and in branch from HSBC, they have a 2.75% regular saver, their online/mobile banking is acceptable and from what I've heard they're a very good mortgage provider.

And you have every right to do as you please, just as we all did during apartheid in S Africa, when every single little act of defiance against the S African Govt, including boycotting of goods and stopping financial enterprises with them,  all led to the eventual ending of an awful injustice.

I guess you are kind of right, thanks for that. 

What a kind post, which I appreciate. It is uncommon on MSE Forums for such thoughtfulness.
Thank you and good luck in all you do.

notveryeducated

coachman12 said:

notveryeducated said:

coachman12 said:

notveryeducated said:

I have a HSBC Student account and I'm not going to switch away/close my account down with them after hearing about this. I've had a consistently good service on the phone and in branch from HSBC, they have a 2.75% regular saver, their online/mobile banking is acceptable and from what I've heard they're a very good mortgage provider.

And you have every right to do as you please, just as we all did during apartheid in S Africa, when every single little act of defiance against the S African Govt, including boycotting of goods and stopping financial enterprises with them,  all led to the eventual ending of an awful injustice.

I guess you are kind of right, thanks for that. 

What a kind post, which I appreciate. It is uncommon on MSE Forums for such thoughtfulness.
Thank you and good luck in all you do.

Thanks for the kind comments, you too!
Side note, - I think I should justify myself, it's a bit of a tough one really for me, I despise the CCP, they are awful and HSBC backing the HK law isn't cool or right but if I switch my current account away from HSBC I'm hardly "getting back at them", like most people are trying to do and/or encouraging others to do right now. HSBC aren't going to miss me if I leave or even the majority of their UK personal banking customers for that matter. I just don't like the idea of applying for another student account and having another search on my file. The account works well for me, just a shame the company it's with is unethical and siding with the CCP.

coachman12

Well, that last post was really ermmmmm like a thesis   
BOYCOTT CHINESE BANKS,SERVICES AND GOODS !

randompenitent

HSBC Is just following the money. They are an Asian bank with a London HQ and they see their future as being tied to China (and business in the Pearl River delta in particular). The bank is stuck between a rock and a hard place. It either decides to jack it in, at least in China, which would be like Santander deciding to leave Spain, or it lives with the political reality. 

I’ve been a First Direct (i.e. HSBC) customer since the 1980s and still think FD has great   customer service. But First Direct was an innovation of Midland Bank, not HSBC.  Since HSBC took over, innovation and investment in First Direct and the former Midland Bank has been absent. It’s far from obvious why anyone would choose to bank with them now. 

If you’re looking for political excuses to bank elsewhere, they have been around for ages.  Just look at HSBC’s record on money laundering.  Not great. 

Thrugelmir

coachman12 said:

BOYCOTT CHINESE BANKS,SERVICES AND GOODS !

How many everyday objects that you use or possess either were made in China or contain components made in China? 

coachman12

I know, I know , Thrugelmir------but we can only do what we can as individuals, just like so many of us did during apartheid. So the chances of it working are so slim----but who'd have ever foreseen the demolition of the Berlin Wall , a united Germany, the collapse of the Soviet State, free elections in S Africa, somebody like Trump becoming a PTA member let alone where he is now ?  There are groups I belong to who keep plugging away; what else is there? The Green's seem to winning a war of minds about Palm Oil, which seems pretty small stuff to me ( but not for orangutans I suppose !

Thrugelmir

coachman12 said:

I know, I know , Thrugelmir------but we can only do what we can as individuals, just like so many of us did during apartheid. So the chances of it working are so slim----but who'd have ever foreseen the demolition of the Berlin Wall , a united Germany, the collapse of the Soviet State, free elections in S Africa, somebody like Trump becoming a PTA member let alone where he is now ?  There are groups I belong to who keep plugging away; what else is there? The Green's seem to winning a war of minds about Palm Oil, which seems pretty small stuff to me ( but not for orangutans I suppose !

My late father worked for a UK company who owned rubber plantations in Malaya. Was bought by the Chinese. That was some five decades ago. In 2013 the Chinese took ownership of the largest pork producer in the USA. The pursuit of self sufficiency is grindingly relentless. 

seatbeltnoob

gc747 said:

I bank with them, always have done. Although I side with HongKong in this awful dispute I’m afraid it wouldn’t make me change my account. 

There is too much going on in the world above our control and even if most UK customers closed their accounts I still think HSBC would stick with their decision. 

As a side note, aside from all the unsettlement in HongKong/China, I believe that HSBC is very anti brexit and depending upon how we leave I think HSBC could well turn their back on the UK altogether.. 

anyway, that’s just my very humble opinion.. great question though, OP 👍

UK is a small operation for a international bank. Their name stands for Hong Kong and Shanghai Banking Corporation. It started off in asia, and makes the lions share of it's money there. In the UK it goes by its acronym. But in asia they use their full name more.

maybells

HSBC are the WORST