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Reviews for HSBC
Average User Review Ratings for Current Account products
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Current Account Advance
Review by tim39
submitted on 25 March 2014
Likes: easy to set up a new account
Dislikes: Banking with HSBC will send you into UNCONTROLLED DEBT should you have financial instability!
I experienced some financial instability as a result of having the arrival of our first child and could I rely on my bank to help me in my hour of need . . . fat chance!
My outgoings were pretty even every month and I rarely used my debit card for extra spending. However, having exceeded my overdraught (a situation which hadn’t bothered HSBC for 9 months previously) they started bouncing direct debits (only one per month). They were charging me £150 every month and then surprised when I couldn’t pay it back. My debt was therefore growing monthly due only to their MASSIVE charges. They wouldn’t increase my overdraft and were not in the slightest bit interested in trying to help me resolve the distressing situation, just taking more and more money. My annual statement of charges totalled £1758 . . . which is staggering!! I’d actually have been better off living purely from a credit card with a £3000 limit and not having a bank account.
THEN, having sorted out my financial difficulties and decided to move banks (Jan 18th 2014) . . . 2 months AFTER the switch, I get a letter from HSBC demanding £25.89 on the account that had been closed for 2 months. Security questions when I rang them included “what did you last use your card for?” . . . response: I don’t know that was over 2 months ago! And “whats your Limit (assumed overdraft) . . . response: “£XXXX” . . . what might it be now?” . . . response: "I don’t know, the account is closed, so zero?!".
I was informed that this amount due is from account charges because I didn’t inform them that I was closing my account, never mind the fact that HSBC never told me I had to. My new bank handled that for me . . . for FREE!
This followed by a threat that when further account charges get applied it would be nearly £50 . . . this sounded familiar! After lots of shouting, HSBC graciously zeroed the account and shut it.
It’s not a mistake; it’s another instance of legal but totally unethical banking practice . . . BE WARNED
BTW I loved the recent HSBC UK Ad campaign . . “we like to give you surprises!” . . Yes you do!
Service:
Current Account Product:
Basic Bank Account
Review by StrawberryKing
submitted on 18 October 2009
Likes: Useful online service and telephone banking
Dislikes: Little to no interest paid on balance
It's been relatively problem-free but this has made me lazy to switch to a better current account that pays interest and lets me earn money on the money just sitting there.
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