So my review of HSBC Direct is fairly positive, but if you’ve actually read it and had experiences like those below, then you would think that I’m full of doggie doo-doo.
- Savvy Saver’s problem w/ opening a joint HSBC account.
- lpkitten’s problems w/ opening an individual HSBC account.
It seems when you have anything to deal with the words customer service and bank, results will greatly vary.
I’ve opened my account quite awhile ago, before HSBC flung out their advertising ogre, so I think I’ll update my review when I get a chance to. Perhaps like many other banks out there, they’re too busy marketing their product and not spending enough time servicing the actual product?
Nahh. That can’t possibly be it.
9 Responses to “HSBC Direct, Not So Hot?”
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May 22nd, 2006 at 2:02 pm
it could be that i am just cursed with bad customer service. :P
May 22nd, 2006 at 5:38 pm
I think I’ll go w/ HSBC’s craptacular phone service instead. The few times I had to call, I never reach anyone that can do anything about the online savings account.
It’s a good thing I never had to call for anything important.
May 23rd, 2006 at 6:27 am
To be fair, I think that craptacular service is part of the deal with the internet-only banks - you get the high interest rates partly because you’re not supposed to have to deal with actual people who earn actual salaries. I think that’s why the Emigrant Direct website looks like it was designed by an eight year-old.
I had some trouble setting up my auto-deposit to HSBC, because I didn’t want the ATM card (Why would I ever want to withdraw cash from my savings account? Plus, I live in Illinois). Once I got on the line, it wasn’t too difficult - it’s just a matter waiting for the operator to answer.
Still, the question has to be asked: Why make it so dang hard for me to give them my money? You’d think that would be the one thing they would be good at.
May 23rd, 2006 at 8:52 am
Stick to ING. few cents here or there deosnt matter
May 24th, 2006 at 10:10 am
Capitol One has worked really well for me. Quite painless to set up. Easy to navigate website. Had a good experience with customer service the one time I had to call. Decent APY 4.55 currently.
May 24th, 2006 at 9:03 pm
I tried to set up the HSBC Direct, and they hit me with this identity check that, apperently, I failed. So I sent in a bill and they said it wasn’t good enough. So I said see ya. Emigrant and ING were not that much of a hassel. HSBC Direct doesnt get it.
May 24th, 2006 at 11:07 pm
Although most of my fund for this type of saving sits in ING, the rate difference actually does accumulate to an extra hundred+ or so per year. Still, majority of them sit in ING because of it’s transfer speed and no BS functionality.
I’m surprise so many people have trouble setting an account up at HSBC. I had the same identity check problem when I first tried to open up an account at Emigrant awhile back, so I know how annoying those can be.
I never did bother much with Capital One’s High yield money market account, but its another no minimum, no fees account so I think I’ll open an account later to check it out (provided it doesn’t do a hard credit inquiry).
But yeah, ING definitely takes the crown for making it easy to take your money. The others could learn a lot from them.
May 26th, 2006 at 12:07 pm
I have tried most of the online savings accounts. My customer service with HSBC was actually fairly good. I just had to call to get my password or something reset that they never sent me and had to call to request my free checks when I opened up an interest checking account.
However, I moved to GMAC bank’s savings account because of the very long waiting time when you move money with HSBC. It seems like they take advantage of a day or so of float where its not in any bank account. GMAC is very fast, like ING, but with a better interest rate. Only negative is the hard credit inquiry.
June 30th, 2006 at 12:27 pm
Just be careful with HSBC bank to bank trasnfers. I put in a request on Sunday for the transfer to happen on Monday. Well first it did not happen until Tuesday. This pushes it back 1 day, but customer service assured me that I would get it in my account on Friday. It’s Friday and guess what? I don’t have it!! One whole week to do an ACH?!!?!? that is ludacrist! Thanks HSBC now I have to push back the closing on my house.