I have been with HSBC for a few years. I have had zero problems with them. The only downfall I can see with them is that there one physical bank in my area. That makes it difficult for a cash/check deposit. However since those instances are rare I do not mind it much. I am very happy with them and don't plan to go anywhere anytime soon.
You can also have direct deposit and avoid the 3 bussines days that you usually wait to get the money in your HSBC Advance acccount from your bank. I wish it could be less but nothing is perfect in this life. The best of all if you need your money and you cannot wait to transfer it back to your bank you can use any ATM and they will not charge a fee and they also will give you back the fee that the other bank carged you. Im happy I never accepted the offers from Chase or Bank of America to open a savings account, they dont have a good rate of interst or you need to have a minimum or link your accounts to avoid fees.
This bank is all you need to save money :)
I have had card since 92. Have saved over $11,000 on GM cars, on purchases I would have had to make anyhow. Website is very easy to use.
Pluses: the interest rate, it works great with Mint, six ATM rebates per month (and no charges from them), PayPass!
Minuses: the website can be a PITA, support can be less than clear, no view of pending transactions
All in all, having an account with HSBC Direct has been the best thing to happen to my finances in some time. It works very well, I get a great rate. My only hitches were in the signup and were particular to my situation (I had some cash I wanted to deposit immediately [they frown on branch transactions, but my nearby branch was very nice about it], and I sound much older than I am and I'm too young to have a credit history, so the process of verifying that I was who I was complicated. All's well that ends well!). Support can be a bit mixed, but persist and you'll get what you need. I'm covered whenever I need an ATM--no need to go find an Allpoint/particular network one to avoid a surcharge. That's pretty nice.
I am a Premier HSBC customer with accounts in 4 different countries. Imagine having your own private banking network where money moves seamlessly between countries. Where international transfers are free and in some cases instantaneous. Where you can do you own Wire Transfers when necessary online at half the cost of almost every other bank. And where Customer Service is just great. I have to say the negative reviews are a mystery to me.
Okay, it's a bank, and all banks have their detractions. That said, I've lived in many US states, and in EU, have had relations with many banks, by far HSBC is the most secure, most available, 24/7, and provides one of the best interest rates. Easier to deal with than ING!, Able to use ACH transfers with much higher limits than most banks. All-in-all, this is the bank to choose if you can do everything online. Although at the outset I did open my account at a branch.
I have been with hsbc for 5 years. To this day they have taken care of me! I even refinanced my home loan with them. Whatever problems i had with the account, hsbc resolved the problem. When i was traveling in south america, the access to my accounts was either an hsbc atm or a branch were minutes away. For years i have had accounts with bank of america, chase, wellsfargo,and citibank.
None of these banks could compare with the service from hsbc! I also have accounts with two credit unions, however they are becoming more like banks everyday. For the record, the credit unions are still better than banks but it will not last. They are starting to charge fees for just about everything. Hsbc has been good to me and my family. As for the negative comments, please share some more information about your experience. By sharing your experiences, we can correct the problems that the bank does not know about. Hsbc is the bank for me! The rest just don't compare
Greets with a smile every time.
Every one always trys to bee helpful.
I opened my account online, was easy to do ewasy access and quick delivery of cards. Love the atm deposit images.
I've been with HSBC since 2005. Overall, I've had no problems with them. I've done most communications with them via secure BankMail, although when I've needed to call them, they've been helpful. My only complaint is one with the economy and the dwindling interest rates. I was considering moving to a bank with a higher rate, but based on reviews on this site, I might just stay where I am. And although the application is long, I feel it helps with the security of the site. It does take about a week to transfer money to and from this bank, but that works for me because this is where I put money I don't want to spend, so having it be a little more difficult to get at the money is perfect for me.
Since HSBC has no physical building anywhere near my house, it felt odd at first putting money in here. However, now that I'm more comfortable with it, I am able to appreciate how easy it is to transfer money on-line to and from this account. The interest is always better than the interest offered at the savings account offered at my bank.
Switched to HSBC due to good rates at the time (2006) and washington mutual (no chase) charging fees for my one of my accounts. They bough my mortgage and also own my heloc. The issue came up when they sent me a letter stating that they would no longer advance me any money on my HELOC. They would not tell me why, but eventually i figured out that it was because my credit rating had dropped below 700. I didn't need the funds, and still keep the loc open (ironically for credit rating purposes). They had expanded onto the west coast, and i had good experiences with the few interactions i've had, including tellers and the mortgage agent when i refinanced a few years ago, but their rates are no longer the best. I will probably be switching my mortgage and HELOC, combining into a single 15 yr loan soon.
I think every bank experience depends on the branches. I opened my account in my small hometown, their friendly service has always left me with an overall good impression of HSBC, no matter the problems or confusion. Overall I have had no problems with HSBC. I only get frustrated with how often they change their policies and accounts. It doesn't usually affect me too much, if it did I would switch, but it hasn't. I also have an online savings account with them, but the rate keeps getting so dismally low that I don't even use it any more.
*To all who complain about ATM and Overdraft fees- Use your banks ATM! Don't overdraw your account, know your balance and stay within it, otherwise use the credit card!!!
For a mistake in my airline, i had to wait 7 hours in mexico. That's something i would consider a real pain, no enough time to go sightseeing, no internet, and surrounded of overprices stores selling stuff i normally don't use. Then i found this room for hsbc customers with free food, drinks, internet, tv, and really comfortable chairs, that's something i never took into consideration when choosing my main bank, but now i'm actually happier with hsbc than i was a few days ago.
So, it is true they have a huge lack of organization (or probably over-organization, which is worse when banking), when you call customer service they will be helpful, but they will be unable to do anything that reply questions, if you need something else then you must call another person, who will be only be able to perform the assigned tasks and nothing else more. I would really love a more personal touch, but hey... In today's banking that happens almost everywhere.
HSBC inherited my account when they bought Marine Midland Bank back in 1999. My only grievance with HSBC for 12 years was their online experience. It was horrid. Their login process is a horrific experience involving an on-screen keyboard. At the time, it was a good idea. The turn of the century brought a log of keyboard loggers and this prevented that. But 11 years later and they are still using the same method, while everyone else has adopted more convenient and secure means of protecting your account. Another problem I have with their online account management is when you use their bill pay feature the account is not updated to reflect the payment until the payment is cleared. So you can easily overdraft. Also, any money coming in will be reflected in available balance days before their are any details on deposit. So unless you know exactly what's coming in, you can have ghost deposits for a few days. Mind you, I also use Chase's online account management portal...it's wonderful, absolutely no complaints.
So, all of this was bearable. I just took it as a "this bank's web development process sucks". HSBC owns Buffalo, NY. They have ATMs everywhere, and that's what I need them for. Life was good enough, until I lost my wallet. In it was my HSBC ATM card and my HSBC MasterCard. OMG...what a process this was. First, I tried to cancel my debit card. Whenever I would call the number I would get a buzzing sound and then I would get disconnected. Which is excusable...only I called a week and a half-later (keep reading and you'll see why) and I got a buzzing and a disconnect again. I ended up calling to get my credit card account cancelled and had them transfer me to the debit department. Both of them said 7-10 days to get my card, when every other bank was within two.
Finally, the last upset was when HSBC sent me a notice that there was unauthorized us of my HSBC Debit MasterCard. I called them..what they really meant was that I reported it lost. Worst...Bank...Ever!
Never had a problem with HSBC. The only time I needed them in this 4+ years, I got a real person to speak with.
I like banking with HSBC because of the great benefits like ATM fee reimbursements and free bank to bank transfers. I think that HSBC can still improve its online banking experience.
HSBC on-line service is acceptable, but there are issues with using their ATM card in other countries. Was in Buenos Aires in Feb 09 and went to two of their branches and the card just wouldn't work. A Brit was also trying to access money and he told me the HSBC network has a reputation for breaking down, making it difficult for travelers to access their money. The system was up again after a couple of days, but it was a terrible inconvenience. Also, HSBC is getting beat to death on their interest rates--am trying Ally now.
Always stay in long line for tellors, no extantion time during the week, safe depost shedule very bad specially on saturday ( should take day of or run like crazy on saturday).
I think his services is good but not best.Insurance Compare Motorhome
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
and that's the reason why I left the company a month ago! I couldn't agree more!
I pretty much feel the same way...! the best place to work as they'd say is nothing but merely stupid and beyond abysmal!
I wouldn't recommend this bank at all!
I was an HSBC customer for years but after their customer service deteriorated, I left.
My father, (works in the UK and HSBC Premier customer), set up an accounts in the US and UK. To help him pay bills while he was out of the country, I was added to the US account. Although I had been a Wells Fargo customer for 10+ years, I was so impressed with their customer service I decided to become a premier customer as well.
I enjoyed their customer service and since I had rental properties, I appreciated how easy it was to open basic checking accounts online and wire money through online banking. In total I had 3 premier accounts, 4 regular, and 1 premier credit card.
Recently, I've had issue after issue. On one occasion I received an email from a premier manager asking that my father and I submit new copies of our IDs for security. I submitted mine immediately, my father did so shortly after that when he returned from a trip. The manager failed to advise us that there was a deadline. Since my dad submitted his documents the day after the deadline, all his account (even ones where I'm a joint holder) were closed and statements were no longer accessible online.
I then tried to add an additional account holder onto my accounts. I was provided a form which I completed and submitted no less than three times. Nothing was done.
I submitted a request to open a new account. After a week I inquired and they couldn't find it.
I then submitted another joint application to open another premier account (both existing premier members). After a month, nothing other than "we are still processing this request" from customer service. 4 emails to my premier manager were not answered (and he was in the office).
As for "world's local bank", I went into a UK branch. They wouldn't let me withdraw cash until my local branch in the US opened and they wouldn't accept my HSBC US card in the UK at HSBC UK because it didn't have a chip in it!
Sorry HSBC, I can't take it anymore!
Before I left for vacation, I call HSBC for told them I would be in vacation in France and Italy for 15 days. They add a note on my card for avoid blocking but unfortunately in 15 days they blocked my card 4 times. My first day in Paris, I needed to run to HSBC in Champs Elysee for them to call the fraud people. They said that they see my note but they block the card anyway, I ask them on the phone do not block again since I am in France, they say all right. They block the card anyway after one purchase for $12 in store, and it was on the weekend so I need to find the way to call them, they say my card will work again in 2 minute but they didn't unlock and I need to call them again the next day.
They say they forget to reset the card, them they block the card after hotel charge again -- I was upset. They are ridiculous and they have note who saying I was in Europe but they push me to run everywhere on vacation to unlock my card, also on the phone they ask me if I am really in France because they believe someone use my card in France. I say, "Yes it's me" and I was upset after them, block my card for $12, they do that 4 times it was very abusive, I fell like they do that on purpose, very bad, stay way from them when travel, they going to block your card like a game. Also they don't 24/7 customer service for help specially in France who need to wait 1pm in France (7am in US) with no money for call them and it is not free.
I opened this account while living in Canada because HSBC was the first bank I found that accepted something other than a us driver's license as the primary form of ID. So kudos for a bit of worldliness. They also had relatively (for the us) high interest rates on a savings account, and i give them high marks for online account security, which is much better than any other bank I've dealt with. Fast forward five years, the interest has dropped to 0. 01%, and i am living in the us but still getting the occasional Canadian check that i have to deal with. I called to ask about exchange rate and foreign check fees, and was told by customer service that it would be deposited at mid-market rates with no fee. Therefore i opted to send the check to HSBC rather than back to my remaining Canadian bank account. Unfortunately, they had given me incorrect information and I was both gouged on the exchange rate and charged a fee for depositing a foreign check. I submitted a complaint in the customer service form online, and never heard back. They are also brutally slow about transferring money to another bank - it can take a week. Just closed that account today.
They have been unhelpful, slow to respond, incompetent and call centers can't communicate with one another. Also their systems are all over the place and don't sync with each other. On one system they have the correct info and the next it's wrong - this affects credit card authentication for online purchases. It has been an utterly horrible banking experience. I would definitely not recommend them.