We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
HSBC Advance - hassle for switching accounts
canadianBill
Posts: 10 Forumite
Hello Everyone,
I wanted to share what I thought was a good deal but led to more issues than not with HSBC. Firstly I had been with Lloyds for many years and decided to switch to HSBC since I fulfilled the correct criteria and thought it would be nice to get £150 bonus for switching along with other features.
To begin with, I had to go through extra checks than other bank switches and the process was exceedingly long. When I applied for the switch it did not work and I was told I needed to go into a branch to complete the switch instead of online, which put me off. That was the first month. So instead I opted to go with TSB which had a similar deal for £130 switching accounts, which worked seamlessly and quickly. They also pay into one's account £5 every month for 2 or more direct debits.
In the second month I realised that HSBC had messed up my name for online banking even though it was printed correctly on my debit card. So I had to go through various call centres to ask for this to be amended but was passed around and told I needed to go into the branch (despite this being an online problem) to sort this out.
In the third month I logged onto my account online and found all of my Payees had been erased which did not allow me to make any payments or transfers. I tried their online service which didn't work and directed me to call them which they did. They explained there was a 'problem' with the account and I had to go on hold for quite some time. Eventually they were able to fix this problem and the names magically reappeared.
Three months with a problem each month for HSBC. Perhaps other people have had great experiences with HSBC but I am very unhappy with their services and will likely close down this account. Considering this is a global company I am surprised that they have had a host of issues from beginning to end.
This is just a heads up to people considering a switch. I would suggest don't be tempted by the £150 switching bonus if it means lots of hassle when TSB did the switch within a few days completely hassle free (including moving over all DDs and standing orders as well as PAYE instructions into the account).
Anyway, rant over.
I wanted to share what I thought was a good deal but led to more issues than not with HSBC. Firstly I had been with Lloyds for many years and decided to switch to HSBC since I fulfilled the correct criteria and thought it would be nice to get £150 bonus for switching along with other features.
To begin with, I had to go through extra checks than other bank switches and the process was exceedingly long. When I applied for the switch it did not work and I was told I needed to go into a branch to complete the switch instead of online, which put me off. That was the first month. So instead I opted to go with TSB which had a similar deal for £130 switching accounts, which worked seamlessly and quickly. They also pay into one's account £5 every month for 2 or more direct debits.
In the second month I realised that HSBC had messed up my name for online banking even though it was printed correctly on my debit card. So I had to go through various call centres to ask for this to be amended but was passed around and told I needed to go into the branch (despite this being an online problem) to sort this out.
In the third month I logged onto my account online and found all of my Payees had been erased which did not allow me to make any payments or transfers. I tried their online service which didn't work and directed me to call them which they did. They explained there was a 'problem' with the account and I had to go on hold for quite some time. Eventually they were able to fix this problem and the names magically reappeared.
Three months with a problem each month for HSBC. Perhaps other people have had great experiences with HSBC but I am very unhappy with their services and will likely close down this account. Considering this is a global company I am surprised that they have had a host of issues from beginning to end.
This is just a heads up to people considering a switch. I would suggest don't be tempted by the £150 switching bonus if it means lots of hassle when TSB did the switch within a few days completely hassle free (including moving over all DDs and standing orders as well as PAYE instructions into the account).
Anyway, rant over.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards