Could HSBC be the worst high street bank right now?

adamp87

Their reputation seems to have taken a hammering of the past few years ethically certainly.

But even lately I’m struggling to see bar the recent switch incentive what they offer that’s really separating them apart to a bee customer.

From this forums own experience, they are notoriously picky with new customers,

Can take an age to open accounts,

Their first level premium account really offers it seems nothing against competitors on the market barring not charging a fee (but it does have a salary limit).

Most recently they were in the news with the discussion over charging for accounts..

It’s almost as if they just don’t care, at least in the U.K. anymore..

Thrugelmir

Horses for courses. Banks have different target markets for customers. HSBC has always been the same. 

ratechaser

Most of their revenue is driven out of the Far East, now more so than ever. I'm afraid you're not all that important in the UK, especially with ring fencing rules meaning that you're not even useful as a capital buffer at group level any more...

Sorry.

CKhalvashi

The travel insurance aspect is helpful too.

As a private company, they are entitled to decide whether they want you as a customer or not.

adamp87

I'm already a customer for one account, I was just looking at comparable banks and noting they don't seem to really offer anything. I thought they'd taken away all the perks for advance the website doesn't work anymore for advance last time I tried it.

The_Urbanite

The Premier account is alright, does what it says on the tin. They've always been pretty helpful when I've been in touch, can't really fault the service.

cymruchris

I recently took the switch offer. They were quick, efficient and communicated the whole process very well. It all went very smoothly - got the advance account with overdraft (not that i'll be using it) - and although my history is now fairly clean - there are a couple of missed payments back in 2016 still lingering on the files, but computer said yes, and I now have an account.

Not many banks offer that much these days - you don't get the perks of years ago anymore, but so far they've exceeded my expectations. I've opened their regular saver account (max £250 a month) at over 2% interest - won't make me rich, but better than a lot of other banks.

northwalesd

Yes, they're dreadful.

Tragen

Admittedly I got an advance account recently for the switch incentive. However, they could not get online banking working for me, I would get a generic system error when trying to sign up either in a browser (multiple) or my phone. Their first line support staff just told me that theres nothing wrong at their end; which is obviously false if their system could generate a generic error and not log it or the reason to help debug the problem. 

I switched the account to starling as soon as the incentive was paid, I had no choice as I had no access to the account other than via an ATM or "telephone banking". Not good enough, but then as I said before I just signed up for the incentive. 

What it has done though, is put me off for life, probably. I cant ever imagine wanting to use them or their banking products in the future, for sure.

Matt8888

I did a switch about a year ago, to a Premier Account, partly due to the cash incentive but also some other reasons. I found them efficient and the switch did not take long. The staff at my local branch were very helpful at the time, and have been since the switch. I have no complaints at all. 

NottinghamKnight

You'd be expecting a higher level of service if you were a central american supplier of recreational substances.