HSBC Cash ISA - delay in opening

alfista

I have had a current account with HSBC for many years. I am attempting to open a 1-year fixed rate cash ISA.  HSBC have all my personal details, there are ample funds in my current account to fund the deposit for the cash ISA.  Why then do HSBC say "it make take 5 (or 7 or 10, depending which bit on their web site you read) working days to open your account" ?  Surely all this can done done in real time online ?

born_again

They are done manually. As they do not have systems in place to do it any other way.

alfista

born_again said:

They are done manually. As they do not have systems in place to do it any other way.

Good heavens, there was I thinking it's 2024, not 1824  :>))

alfista

An update : I had applied for the ISA on Monday, it appears to have been opened on Thursday (I only discovered this because the ISA account suddenly appeared in my HSBC app).  Very good, but it would have been nice if HSBC had notified me by text message / email / snail male.  Ah well, I suppose this is progress.

Hoenir

alfista said:

born_again said:

They are done manually. As they do not have systems in place to do it any other way.

Good heavens, there was I thinking it's 2024, not 1824  :>))

Technology doesn't come free with a box of cereal.  Sometimes it simply isn't economic.