Have been a HSBC Premier customer for 8 years with accounts in Canada, USA, and the UK. I most recently moved to the USA and they were great at first, gave me a credit card, and overdraft based on my (large) overseas credit, my assets with the bank, and long tenure with them. Great for someone with no US credit history (though the Amex Global Transfers are far far better, so do that if you ever move). I've since bought a house, cars and have a credit score of 750.
I rarely use my select credit but on my first use they decided to not only close it, but it was without notice, and they proceeded to bounce my mortgage payment. If they gave me notice I would have been upset and wanted to know why (I have no derogatory marks, and my credit has done nothing but gone up since I arrived 2 years ago).
Talking to the reps they said, "We choose who we give credit to and we can remove it at any time. We probably should have noticed you. Are you sure we didn't let you know?"
Well then. Goodbye HSBC, hello someone else as that is completely unacceptable. Trust is fundamental to a relationship involving 6-figures of money so someone else will get my money. Citi/Charles Schwab/Wells Fargo/Someone else? Maybe a credit union or Fidelity? Not sure, but I will never do personal or business banking with them again.
I had an account with HSBC for over 10 years. One day I attempted to log on like any other day and I received a strange error message simply instructing me to call Customer Service. Not thinking much of it and assuming it was a minor problem - I called my bank and to my surprise, "We show your account is closed." My jaw dropped. "Where's my money?" is my first thought. "It has been sent to you." Sent how? What's the tracking? Of course no tracking and of course by the slowest method possible. I never got this first check, by the way. Frustrated and growing increasingly panicked, I opened a second account with HSBC. The first account was closed due to the "amount of withdrawals" on a Savings account. It is funny how after having an account 10+ years and using it borderline the same way month-to-month, suddenly it became a problem but that's another story. The second account I would open was a checking account to bypass this nonsense. I just used the account as a "deposit and forget" type situation - no bells and whistles. Eventually I work out a way to "cancel the check I never got" and have my funds deposited into a new checking account. This required multiple phone calls, having to repeat the same situation over and over. So I get this setup finally and about 2 months later, I get the dreaded "unable to log into your account, please call customer service" number again on my new checking account. Guess what? It was closed. My money is again in "HSBC Land"(that's the HUGE space between myself and my bank) in a digital and modern age of fast notifications and fast, reliable shipping where I will receive neither. When I called Customer Service last night, they told me the "department I needed to speak to was not open" and to "call back". I called back today and guess what I was told by a woman on a static-filled headset, "There is no department that can tell me why
The online site tells me that my loan number doesn't exist! They have added memorable phrase (formerly password) and password (formerly secret phrase) to confuse things. On my telephone call, I was asked to repeat my name, social security number, and loan number twice for security. Then I was asked my date of birth, payment amount, insurance and tax amount. Don't they know? I was not helped, previous bills have not arrived.
Really, next time I will stick with a local bank.
1. They even wrote a wrong address on several pages in the loan application package then sent us. When we asked them to change they still sent the wrong package with the wrong address. Of course they finally sent us a correct one but it wasted us about a week. I have email evidence to prove this.
2. The loan processor emailed me asking me to explain how I had over $50,000 on my checking account. I was very surprised because in my life I had never got this big money. I immediately wrote to her to tell her that it was a big mistake because I had only over $10,000 on that account. Also, I sent her the bank statement again to prove that it was a mistake she had made. She did not apologize at all. She even did not reply to me for this huge mistake she had made. I have email evidence to prove this.
3. It was very difficult to communicate with them regarding loan application. They have difficulty communicating among themselves. For example, we had submitted some key documents already to one loan representative but the loan processor would ask us to give these documents again. would asked us to give those documents again and again. We have email evidence to prove this. At the beginning stage they hardly answered our calls. After we made a complaint, then they started to respond to our calls. But as a customer the beginning stage is crucial and he or she needs most assistance.
4. They would not ask us to provide this or that separately, not in a whole, which cost us a lot of trouble.
5. We would never deal with this bank. We have all the evidence to back up what we have said here. If necessary we would file a formal complaint to the country's commercial and federal agencies. That is why we have kept all the email communications with them.
I hate HSBC. They have the worst customer experience that I have ever experienced. I can not think of one positive thing to say about HSBC. They have so many ridiculous security procedures that you will have a difficult time accessing your money or account. For example, to talk with someone over the phone about your account you need a specific password mailed to you. If you happen to move and don't receive this information and might forget the two different passwords they require to login online - you're fucked. When you call to get things corrected or even to close your account, they suck at this too. You are transferred to so many different departments that you will find yourself on the phone for at least 45 minutes if not longer. DO NOT USE THIS BANK.