Merits of Different Current Accounts?

hougtimo

Hi,

I currently have my personal current account with HSBC. I have been chatting recently with various financial bods and when I mention HSBC i generally get "tutted" at or the "Have you thought about other banks?" line.

What is it people don't like about HSBC? Surely a current account is a current account?

Am I missing out on any features / advantages other banks offer?

jonesMUFCforever

If you are happy with HSBC why change?
Better the devil you know.

Have a look at other bank's websites to see what is out there and compare.

hougtimo

jonesMUFCforever wrote: »

If you are happy with HSBC why change?
Better the devil you know.

Have a look at other bank's websites to see what is out there and compare.

To be honest I'm very happy with HSBC. I now have my business accounts, personal account & e-isa with them.

They did mess up once, when tranfering money over to China...managed to lose nearly £3k - But they found it again, and after some pushing I got 10% compensation.

So there aren't any hidden benefits of other banks that I'm missing out on?

PROLIANT

The only thing I dont like about them is, like some other banks, they use the Meastro Debit system, I prefer Visa and that is it, personal preference, otherwise HSBC are a good bank I am sure.

BruceyBonus

PROLIANT wrote: »

The only thing I dont like about them is, like some other banks, they use the Meastro Debit system, I prefer Visa and that is it, personal preference, otherwise HSBC are a good bank I am sure.

Same with me, I prefer Visa. HSBC are switching to VISA later this year/next year.

Other than that, their service has been exemplary. When I've called/emailed they've responded quickly and efficiently. The staff in my local 3 branches are also very helpful and friendly.

Hazzanet

It all depends upon what you need/want from a current account. Those who tend to overdraw regularly, may find a better value account than those who don't overdraw, or regularly find themselves in credit.

ShelfStacker_3

BruceyBonus wrote: »

Same with me, I prefer Visa. HSBC are switching to VISA later this year/next year.

Other than that, their service has been exemplary. When I've called/emailed they've responded quickly and efficiently. The staff in my local 3 branches are also very helpful and friendly.

Agreed, except I prefer Maestro, for the sole reason that I think the logo is prettier and it seems more exclusive than dirty, common old Visa Debit. I am slightly mad though.

PROLIANT

ShelfStacker wrote: »

Agreed, except I prefer Maestro, for the sole reason that I think the logo is prettier and it seems more exclusive than dirty, common old Visa Debit. I am slightly mad though.

Lol, honest man, the best way, I agree but I think VISA is more sexy than Meastro.

terafarma

First Direct's Maestro debit card system stopped me from transferring to them. Their Maestro debit card is not as widely accepted as Visa.

The Visa logo in my humble, honest opinion is a more recognisable logo than Maestro. Never knew a thing about Maestro until I tried opening a First Direct account and was told about Maestro. Mae........what?

I have since done my own research which showed that it is MasterCard's version of the hugely popular Visa debit card system. That in simple term is why I'm today not with First Direct.

ShelfStacker_3

Strictly, Visa Debit is Visa's version of the hugely popular Maestro (nee Switch) debit card system.

Generally, if you do shopping online with UK merchants or on eBay, Maestro is fine in my experience. I have a MasterCard also for overseas purchases though, so I spose I'm a little biased. :P

terafarma

ShelfStacker wrote: »

Strictly, Visa Debit is Visa's version of the hugely popular Maestro (nee Switch) debit card system.

Generally, if you do shopping online with UK merchants or on eBay, Maestro is fine in my experience. I have a MasterCard also for overseas purchases though, so I spose I'm a little biased. :P

Totally disagree. VISA has no geographical limitations and not confined to UK/Ebay for online or in-shop purchases. You are wrongfully biased, ShelfStacker.