HSBC current account customer? You can now get 3% ‘easy-access’ on your savings

Bridlington1

ranciduk said:

The big high street Banks don’t contact their customers as a rule to inform of rate increases, do they?

Decreases , maybe…

Some do. Every time Virgin have increased one of my savings rates they have sent me an email making a big song and dance about it. They even sent me an email telling me they were launching an exclusive EA cash ISA at 3% last year.

auser99

Has anyone set a HSBC easy access "online" only acccount up recently?
Their website says you can only open it online only, yet can then manage it online, over the phone or in branch.

A relative was told in branch that you can't even manage it in branch, which is against their own website.

DavidT67

You can go into a HSBC branch aka 'Digital Service Centre' and use their telephones, computers and WiFi to do your online banking...

auser99

DavidT67 said:

You can go into a HSBC branch aka 'Digital Service Centre' and use their telephones, computers and WiFi to do your online banking...

Presumably you can't set it up via those though.

In fairness all I ever use at HSBC is their screen to display current balances and move funds between accounts.
Assuming if I set an Online account up, it'd show on there?

DavidT67

If they offer you a table, chair and computer, don't see why web banking wouldn't be available.

https://www.hsbc.co.uk/ways-to-bank/branch-banking/#digital-service-branch 

If an account has to be setup via their mobile app, then you're going to need a smart phone,

and from memory their mobile security setup process is incredibly convoluted !

Can't say, I've never used their ATMs for anything beyond cash withdrawal.

gt94sss2

ranciduk said:

The big high street Banks don’t contact their customers as a rule to inform of rate increases, do they?

They do inform you of increases but there is no requirement to tell you in advance (unlike if they are cutting rates)

Bridlington1

auser99 said:

Has anyone set a HSBC easy access "online" only acccount up recently?
Their website says you can only open it online only, yet can then manage it online, over the phone or in branch.

A relative was told in branch that you can't even manage it in branch, which is against their own website.

There's also a chance that the relative could've been unlucky with their choice of branch.

I remember trying to open a HSBC flexible saver in an attempt to get the bonus saver without a current account last autumn. It wouldn't let me open it online and told me to open it in branch to open it. I went to my nearest branch a few days later and was told they've now reduced the services they offer so can no longer open accounts and to visit a branch 10 miles down the road instead.

In the end they upped the rate on their regular saver to 5% so I opened a current account instead.

ranciduk

gt94sss2 said:

ranciduk said:

The big high street Banks don’t contact their customers as a rule to inform of rate increases, do they?

They do inform you of increases but there is no requirement to tell you in advance (unlike if they are cutting rates)

  Not in my experience 

im with 3 big banks, they’ve been shunting rates up continually Over recent months and I have had zero contact from any of them to say they have increased my rates

Bridlington1

gt94sss2 said:

ranciduk said:

The big high street Banks don’t contact their customers as a rule to inform of rate increases, do they?

They do inform you of increases but there is no requirement to tell you in advance (unlike if they are cutting rates)

From my experience some do, some don't. LBG, HSBC, TSB and Natwest group have never told me of a savings rate increase. Virgin, Santander and Nationwide have.

I've never had a savings account with Co-op so can't comment on them.

isasmurf

Joe9090 said:

I have now found the HSBC announcement https://www.about.hsbc.co.uk/news-and-media/hsbc-uk-confirms-savings-rate-increases which I suppose negates their need to tell current account holders individually.

You will know, having read the terms and conditions before you agreed to them, that they will give notice of a rate increase online, in a newspaper or in branch within 3 days after the increase and personal notice within 30 days after the increase.