Comments on: HSBC Direct Review

By: Garry

Garry — Mon, 12 Dec 2011 18:51:07 +0000

They are fee happy when you travel!!! Even when you make a ATM withdrawal from a HSBC bank … they charge you 3% AND give you a very poor exchange rate!!! I got rid of them!!!!

By: Garry

Garry — Mon, 12 Dec 2011 18:45:10 +0000

There are much better institutions than HSBC. They are fee happy when you travel and charge high ATM fees AND a give a very poor exchange rate without explanation!

I have left HSBC!!!

By: Joseph

Joseph — Sat, 18 Jun 2011 00:04:47 +0000

WE have nothing good to say about this bank.We have been trying to modify are second loan for the past year and a half.They have bad customer service.We will never deal with this bank ever again.You will be sorry down the road if you deal with this bank.They all say that this bank wants to help people,but it is not true!!!!.this bank is cold hearted,and if you think they care,you are wrong.There are much better banks out there to deal with.Bank of america has done soo much for us.On a scale for one to ten,we give this bank a big fat zero!!!!!!

By: Fred

Fred — Tue, 08 Mar 2011 23:15:50 +0000

I’ve had an HSBC Direct savings account since shortly after they began offering them. Great deal, and never a hitch. The web site was a bit clunky, but has improved. The phone-mail at Customer Service is still pretty exhausting, but once I got thru, when needed, all went very well.

If you’re in the Northeast, try the M&T e-money market account, as well. The rate is lower, for the time being, but they let you make teller transactions free — HSBC does not.

By: rachel

rachel — Fri, 26 Nov 2010 01:16:47 +0000

I have been dealing with HSBC for a number of years and I find something interesting about them… if my balance is over $40,000 I get treated differently.

Recently, I had a divorce I had to pay for and I ran up a personal line of credit of $7200 paying my legal bills until I could get my settlement. They called every month from a “collection” number if I didn’t make a minimum payment on the personal line of credit every month of 3% of the balance by the 8th of the month. Scratch that, the first fews calls said the 11th of the month, the next calls said the 8th of the month. Even if my monthly payment was short $30.00 (due to a calculation error on my part) I received a call. All while maintaining the $35K in the other bank account.

I subsequently moved the line of credit and my $40K to a different institution and have not paid a cent (other than interest that is charged which gets added to my balance) in payments for over 3 months now and have not had one sinlge peep from the other bank. They raised my limit! HSBC says that is their policy, but it was never their policy when I had $40K plus in the account!

I will never

By: david

david — Sun, 24 Oct 2010 02:14:03 +0000

i started banking with hsbc when i became an expat in asia. i have never in my life had such bad customer service. i have too many issues to list them all but i am writing this to let others know if you are thinking of banking with them….DONT!!!! go elsewhere. it will save you getting frustrated and shaking your head in disbelief.

By: Holly

Holly — Fri, 24 Sep 2010 18:47:19 +0000

HSBC is absolutley the worst finnancing institution!! I have a 2008 quad finnanced through them that was stolen in Feb 2010. My insurance company is USAA wich is a military focused company, has been trying to pay HSBC for my stolen vehicle since March 2010. It is not the end of September and nothing has been resolved. HSBC will not take he payment! I have sent in power of attorney, as well as many other documents. My insurance company has express mailed a check directly to HSBC wich they did not accept. I am being charged late fees and this has hit my credit. I have been very patient with the company, with the only result of being completley disrespected by the employees. Being disconnected, hung up on. HSBC has also treated my insurane agaent the same way. Being a Veteran of the US Army I do not appreciate this treatment. I highly recomend going with a differnt agency. It will save you alot of stress and money.

By: Christopher

Christopher — Tue, 22 Jun 2010 19:49:27 +0000

I have been in international banking for over 25 years and have never seen any bank worse than HSBC. I have waited from 3 to 6 days for wire transfers between 2 HSBC banks through HSBC Net. And we are talking of transfers in excess of $100,000. And their exchange rates are ludicrous. Their excuses are beyond belief. Here are a few: 1) “we were waiting for the hard copy of the transfer” – this on a transfer made on the internet through HSBC Net. This transfer for over $100,000 took 6 days. 2) “We use a 2 day forward rate to get you a better rate.” When I asked why they didn’t use the spot rate they waffled. 3) “The reason it took 6 days was an anomaly. It will never happen again.” It happened the next week. Almost every transfer that was supposed to arrive on Friday didn’t get to us until Monday.
We have since switched to a different bank and transfers are received the same day. And the exchange rate differential is half of HSBC.
Do not walk away from HSBC – RUN!!!

By: Aruna

Aruna — Wed, 26 May 2010 16:25:07 +0000

HSBC provides the worst customer service. I called HSBC today to ask if any payment has been made from my account for 75 pounds, and they said to answer my question, i need to pass my security questions.

I have answered all questions correct, except recent transaction. I informed him that the reason for my call is to know about recent transaction from my account and that i dont remember if i have used my card.

The customer service advisor was so rude to me and said he would not discuss with me further.

By: Meg

Meg — Sun, 16 May 2010 01:03:22 +0000

I have been with HSBC Direct for three + years with online checking and savings accounts. I am extremely irritated and frustrated that I am ready to change banks, solely because it is not possible to contact customer service by phone. I have never been able to get through their line and have held on waiting for a representative as long as 1/2 hour. Each time I am forced to go to the local branch to get anything answered. Just now, my phone battery went dead from waiting so long. Unbelievable! Talk about customer service? What service. It’s non existent. On Monday I will have to take time off to go to the local bank and my question answered. I have never seen anything like this with any other bank or service business for that matter.

By: Anonymous

Anonymous — Mon, 10 May 2010 21:59:42 +0000

I bought a bed through hsbc years ago and with there interest rates and late charges I still owe as much now as I did 9 years ago how do I end this mess. harriet

By: Caryn

Caryn — Wed, 31 Mar 2010 00:55:59 +0000

I am so freaking pissed off at HSBC – they are the bank that holds the mortgage on the short sale we made an offer on NINE WEEKS ago! And today they tell us they want another $100,000 as they will not accept it as a short sale! NINE bloody weeks – I have to get back at these morons, for keeping us waiting for nothing! …How do I get this publicized! DO NOT BANK or get a MORTGAGE with HSBC! They are IDIOTS!See More

By: Caryn

Caryn — Wed, 31 Mar 2010 00:53:49 +0000

“New York plaintiff Lynne Carnegie paid $110 for a nine-day advance on a $500 tax refund. Block and Household took her money and never blinked. – see more – Household, now part of HSBC, also foreclosed on Madie Wilson, 89 years old, and never blinked. They also back your Best Buy and Levitz credit cards, and credit cards for over 60 other merchants”

HSBC also stands accused of “defrauding” US military personnel, some of whom are on duty in Iraq, by overcharging them on high interest loans, according to a study out today from a leading US-based human rights group. Inner City Press and its Fair Finance Watch, based in New York, has uncovered the potentially damaging evidence from documents obtained under the Freedom of Information Act. Here at Household HSBC Watch we know this charge is true. We observed and documented it over the years. — see more –

By: HSBC4U

HSBC4U — Wed, 17 Feb 2010 11:01:16 +0000

I opened an HSBC-USA account knowing I would travel in Asia and thought it was convenient. However, their service is the worst of any Bank I have ever been with. A wire transfer from HSBC to HSBC took over 5 days to receive! and when I transfered funds from HSBC to my Citibank account they took 7 days when they said it would take 3 days !! Their website misses lots of information and their FAQ is minimal. You will end up having to make calls that can take up to 60 minutes before you get an answer and when you finally do they will transfer you around the Globe and everyone you speak with, like robots, will ask you same security questions but no real answers. They may have you call again during working hours or will follow up for you but they will never call you again. Most frustrating. Their Representatives are not in USA and their English is hard to understand unless your hearing is perfect at 0 decibels.

It only took 4 months before I finally got my debit card!

By: mikestreb

mikestreb — Wed, 11 Nov 2009 02:49:25 +0000

Similar to FNBO, I have an account with HSBC (tough to keep all of the letters straight). I have since moved all of my money out, when their rates hit rock bottom. Anyone know how to cancel an account here? I need to get rid of about 6 accounts that I created while I was rate chasing.