Dumping HSBC

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14-12-2006, 01:06 PM
Butterfly

Dumping HSBC

HSBC is probably the worst bank and yet it's very popular with expats and around the world.

The bank is a mess, too big to care, too slow and too expensive do any real banking.

Despite claiming to be the World local bank, they can't manage to connect their internal banking network to their own local branches. Basically each branch operates independently and will regard each offshore HSBC customers as any non-local customers. Basically their whole advertising and company customer strategy is a big fraud. They can't operate globally, and even doing simple banking in any HSBC branch as a HSBC customer is a big mess.

Cases in point:

1. Cash Advance with a HSBC ATM card in a HSBC Branch will be subject to the same withdrawal fee as any ATM card
2. Many HSBC Branch will not accept HSBC ATM card for Cash Advance * UNFUCKINGBELIEVABLE *
3. ATM Transactions with a HSBC ATM card with HSBC ATM are subject to the same ATM fee as any ATM card

So what's the point of having a HSBC account ? none I guess unless you like to be gangraped in fees.

The latest from them: You will need to maintain a minimum balance of $50,000 USD monthly to avoid the $40 USD monthly fee. FUCK YEAH.

After losing 3 transfers of $20,000 each because of a simple bug in their web interface, they still wanted to charge me for each of the $50 transfer fee if it turned out to be my fault for the lost transfers. Yeah, thanks. It turned out that I was the first to find a bug in their web interface after their monthly software upgrade.

Anyway, the bank is worthless, and yet they managed to become the world biggest banks in assets.

I am done with them, going to NatWest.

Please feel free to share your banking nightmares or horror stories with HSBC. A site should be dedicated to them.
14-12-2006, 01:10 PM
slimboyfat

i opened an HSBC account here in Singapore. I closed it again within 4 months after finding that local banks were much more efficient, had many more ATM machines and it actually cost less for me to transfer money to my UK bank account (which is HSBC!)
14-12-2006, 02:39 PM
Gerbil

Quote:

Originally Posted by slimboyfat

i opened an HSBC account here in Singapore. I closed it again within 4 months after finding that local banks were much more efficient, had many more ATM machines and it actually cost less for me to transfer money to my UK bank account (which is HSBC!)

HSBC in the UK is HSBC in name only really. After they bought out 'Midland Bank' they had to maintain the same sort of standards and services as the other UK High Street banks or they would have lost all of their customers overnight. (Not that those standards are particularly good mind you, but at least they cant impose the ridiculous fee structures that they do in their 'home markets'!)
14-12-2006, 02:50 PM
stroller

Actually, not sure Nat-West are going to be much better, I had a few problems with them this year, delaying transfers for months, literally. It seems they keep changing their procedures and getting high-brow with international transfers, I had a hell of a time with my local UK branch to keep doing the same as I have done for years - we're not even talking large amounts here.
14-12-2006, 03:46 PM
Marmite the Dog

I just have my Kasikorn account. Works for me, but I'm not a big international hot-shot.

HSBC were pretty good in the UK. 1000 times better than Barclays which has to be in the running for the worst bank in the world.
14-12-2006, 04:51 PM
Butterfly

I think some Thai banks are doing a wonderful job here. It wasn't always the case but it seems that some are getting with the program. Or is it that International banking standards have become so poor that Thai banks are becoming a "beacon of light" in the industry ?
14-12-2006, 05:24 PM
Pimp of the LOS

Quote:

Originally Posted by Butterfly

After losing 3 transfers of $20,000 each because of a simple bug in their web interface, they still wanted to charge me for each of the $50 transfer fee if it turned out to be my fault for the lost transfers. Yeah, thanks. It turned out that I was the first to find a bug in their web interface after their monthly software upgrade.

Doood, if they pulled on me I'd be throwing within 5 mins of entering the bank and asking for the chairman after that I'd deposit a fat log in their atm deposit box, don't fuck around about cash bro, IMHO
14-12-2006, 05:26 PM
slimboyfat

Quote:

Originally Posted by Pimp of the LOS

after that I'd deposit a fat log in their atm deposit box,

that shows a total lack of regard for the next person using the machine.

shame on you.

mind you it does kind of fit in with the thread title.
14-12-2006, 05:38 PM
in4zip

dumped HSBC bkk in 1997 and badmouthed them ever since

did a couple of SWIFTs in US$ for a couple of 1000k baht
when the baht popped from 25 to ~50 to the greenback

HSBC slowness/shit service lost me a few points on the forex :mad:
14-12-2006, 07:12 PM
Gerbil

Kasikorn seems to be charging me about 2,000 baht on each incoming transfer. This is a pain as I get roughly one a week and I can't alter the source of them to once a month or something. But I can't get a straight answer from them on what exchange rate and fees were used for each transaction :( Bastards. :(