Student accounts - Halifax yay! HSBC boo!

emmafraggle

Hi there, this is my first posting, so apologies if anything is incorrect.

I thought some forum users might like to read a copy of a letter I have just sent to HSBC, and to the Financial Times. Although, as my dad always tells me "A bank is an insitution that gives you an umbrella, and when it rains, takes it away . . ."

Dear Sir,
I have been with HSBC for over 20 years, since the bank was Midland and issued pig money boxes. I changed my account to a student account in 1997 when I started at the University of Sheffield, and have remained with your bank ever since.

I went into a branch of HSBC in Glasgow a few days ago, as I am now a PhD student at the University of Glasgow until 2011, to enquire about changing my account to a post-graduate student account. I was told, brusquely, that I was not eligible for such an account due to my having been out of academia for more than 3 years. When I asked the gentleman to check whether this applied only to an undergraduate account, he again told me that the 3 year rule still applied, whereupon I told him very calmly that I was very disappointed that my bank didn't want to support me in my new life direction, after having been a customer for over 20 years, and that I would be taking my business elsewhere.

I have had an account with Halifax for just over a year, and went to see them today, whereupon they changed my account to a student account in less than 5 minutes, with overdraft and credit card facilities. Why could they do it, for a relatively new customer, no questions asked, and yet yourselves, faced with a loyal and long-term customer, couldn't do it, let alone apologise for an inexplicable policy decision? To this end, in the next month or two, I will be gradually discontinuing both mine, and my husband's HSBC accounts, and moving to Halifax.

I am sending a letter to the Financial Times and will be reporting on MoneySavingExpert.com about this issue.

Thanks for nothing,

Mrs E Webster

Emmylou_2

Wasn't it Nat West who did pig money boxes? I had all five.

Midland, as far as I remember had "griffin savers" who got sports bags...

Riq

Yes it was Natwest.

Someone is going to look silly. I think.

maninthestreet

Financial Institutions do not reward loyatly.

emmafraggle

Oh god, you're right, and now I realise why I never actually got any of them. Oh well, serves me right for trying to be, er, something. Definitely not clever.

Anyway, still narked by the fact that they wouldn't let me have a student account. Although I take your point about banks not rewarding loyalty - where did I get that idea from? Probably the same place as flying Midland piggy banks . . .

Iamthesmartestmanalive

And the FT are going to be so interested :rolleyes:

You didnt meet their criteria end of story and the criteria is pretty standard, it sounds like someone at Hbos made a booboo which will be realised soon

Student accounts are normally for undergraduates and only last for the course and a while after

Graduate accounts normally last for a few years after graduation only too