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HSBC

HSBC

 3.7/5 (599 ratings)
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About HSBC

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • No ATM withdrawal fees
  • Overdraft protection
  • New customer cash bonuses

Cons

  • High account maintenance fees

Bottom Line

HSBC offers new customers cash bonuses. Some accounts come with high maintenance fees, but HSBC might be a good fit for consumers looking for an online savings account with a global bank.

HSBC Reviews

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Page 2 Reviews 10 - 40
Rated with 1 star
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Verified Reviewer
Original review: Feb. 8, 2021

HSBC were so poor it beggars belief. My former wife, (current GF) who works for a top 10 publicly listed ASX company got a loan pre approval. It all went smoothly. I decided to also look at an investment home loan through HSBC. I offered cover (including the investment home) at over 9x. I gave them my salary details, but b/c I work for a family business I was treated differently. I gave a 19 tax return and a 2020 tax return showing a pre tax salary of 25% of what I was seeking to loan. As I am a director of 4 companies (3 of which no longer trade and I have a trust), I was treated with serious distrust. So 9x plus cover as security and they won't lend to me b/c I work for a family business.

My 2018 tax return isn't great, but I was raising my child (seems I have been discriminated as a man who did this), but 2019 & 2020 are significant % of the loan. I provided accountant letters that company's didn't trade. There's one small debt, company to Trust.. that's it. Anyway, I essentially laugh at them, after weeks of politeness and jumping thru all their hoops and say, "So you'll give my wife a combined loan of approx 8.5x her pre tax salary and she has about 35% cover.. I am seeking 4 x 2020 salary, can and will offer you NINE, closer to 10x security cover," and I get a no.. Then oddly after pre approving my wife, they told her the bank isn't prepared to lend to her. Can you believe this.. She has a great job at one of the safest companies in Australia. HSBC have wasted both our time and efforts. I wouldn't waste your time with HSBC. Heads up.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 17, 2020

Very slow. Super unfriendly staff. Useless information. The staff are rude or not capable to help you. All of them give the same reaction. Not interested to help you.

If you say something they do nothing at all.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 5, 2020

Well, I am Manu from India, after looking on Wikipedia that HSBC is one of the finest bank in the world and checked if their services are available in India or not. And I found their services in India and after checking their website www.hsbc.co.in in India I finally found that they are offering a banking services in India. Even a zero balance bank account is available... I found a branch and visit the branch, I thought because it's one of the largest bank in the world, I thought I will go there and just open an account in a minutes. But after visiting the branch I was felt like they want to know everything about us and despite of opening bank account they were talking about everything else.

At the end of the conversation they told me they will send my application to their head office and if the application gets approved only then they will start the process of opening the account. They were constantly trying me to take a normal or any current account because I run my business.. And I had to explain them for like 45 minutes that I only need this account but at the end of the conversation they did not open account they told me that we will call you back in two days... I don't think it's worth the effort...

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 4, 2020

I am an existing FD customer. Trying now, for 6 weeks, on a daily basis to complete the process of opening a business account. Hours spent several times a day trying to get through (yesterday 2 hours!). Equally online application process - verification of ID, which shouldn't be required since I am an existing customer not working. Online support/chat more than useless. Now tried to use online complaint form and it tells me that my email is invalid. This is breathtakingly incompetent.

Bernd

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 18, 2020

Worst bank I have ever dealt with - STAY AWAY FROM THEM! I have been a premier customer for 7 years and if I had a choice, I would give this bank a fat 0. They are a complete bunch of incompetent clowns and thieves. HSBC customer services is worse than useless, they obviously do not know what they are doing. I finally was going down to the branch in Nice to close my account. I was told it will be closed, but I can see that they finally refused. Moreover, they charge 15 euros each month for NOTHING and even charged me 8 euro, but for what? HSBC took money out of my account dishonestly. STAY AWAY!

18 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 18, 2020

I made a mistake twice and joined HSBC for the second time after 5 years, purely deceived by their offers on cashback on transactions etc. But please don't fall for this little incentive as the headache dealing with this bank does not worth the hassle and the offer, believe me:

- Online internet banking, mobile internet banking is not user-friendly. For someone who thinks is good with the computer, the login steps are unnecessarily complicated and when you question them, they only say for security reasons. But comparing them with CBA, I believe this just an excuse to hide behind to cover their old and out of date system. Put in the last 3 digits of your BSB then all your account number every time for a day to day transactions, code generating every time, the system being down frequently, is very common in my second experience for 2 weeks. (Similar issues from 5 years ago, which pushed me to leave them.)

- For every transaction, you have to generate a secure passkey. So prepare to have your phone with you if you are logging in on your computer. Simply, for a transaction, you need TWO device!!

- You may get the same letter 3 times, which shows how disorganised this bank is. Like 3 letters mailed on the same day with consecutive reference numbers for the same topic (welcome mail to HSBC and that my card is active) - (see the photos). It does not bother me, but why?

- ApplePay: You can not add the card to your phone and use it straight away. Like CBA, (which sends you a code to your phone and once the code is, you are good to go), with HSBC, you need to call them, wait on the line for a few minutes and once they IDed you, you can then use the ApplePay.

And the fact that you have to call them this frequent, and the fact that you will be IDed each time, prepare to be IDed for a gazillion time!! I have called them more than calling my parents in the last 2 weeks!

- The call centres appear to be overseas and people you deal with they do not sound competent. This is my opinion, I might be wrong.

And lastly, I wish I was able to give Zero star, however, I am happy with One star, as HSBC has given $9.89 cashback on all transactions I have made in the last 2 weeks. So enjoy the One Star, but I won't ever come back to HSBC. Thank you.

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 3, 2020

After depositing a mobile check, without notice, without reason and without indication HSBC US blocked my account access. My Money and I cannot access it. Customer service keeps on repeating scripted texts. HORRIBLE HORRIBLE HORRIBLE Banking practices. I have never seen a worst bank like HSBC. I had to pay my rent and I couldn't, I had to pay my fees, but I couldn't. What if I was on road, what if I had to undergo surgery, what if I meet with an accident.

Following are the errors on their part:

(1) Without indication, they blocked my account access.
(2) Which universe are they living in? A check verification takes 6 days in this modern world, REALLLY!

(3) And while check verification is going on, do NOT BLOCK ALL account access.

With such WRONG procedures, how does HSBC survives, NO CLUE? Very very very angry and upset HSBC (brand new customer).

16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 28, 2020

HSBC hold my wire transfer for more than one month. When I asked them any reasons they don't respond my question. Never see this on another bank. Not a professional services. Very disappoint. Never use this bank again.

8 people found this review helpful
Rated with 3 stars
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Verified Reviewer
Original review: Aug. 9, 2020

It’s great when you can transact with the same bank in different countries however the international money transfer fees are just so high and the minimum balance requirements at times are a huge hindrance in Covid times when there’s more cash outflow than inflow.

Be the first one to find this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 20, 2020

I opened an HSBC Direct Savings account in early May. I transferred a substantial amount from another bank via a bank-to-bank wire transfer. The money was transferred from a joint account I shared with my husband into a sole ownership HSBC account. I looked at the account from the bank I transferred the funds and I saw it was debited. It was also credited to the HSBC account. Last week I got an email that froze my account because of irregularities in account holders. I tried to log into my HSBC internet banking account but it was frozen. That is where the nightmare started. I called and was transferred to a call center I think in India. Then I spent a long time for identity verification and then proceeded to resolve the problem. I was put on hold and I patiently waited for over 30 minutes listening to the music. Frustrated I hung up and called again.

I went through the same process and was eventually transferred into another call center area. I waited for another 20 minutes and there was no response. I hung up again. I repeated the process and I was eventually connected to a person and I said I wanted to cancel my account. They told me to wait and guess what happened? Nothing so I hung up again. I called a fourth time a got a representative and they said I had cancelled my account. I asked for the amount they were going to wire me. They told me it was going to be a hard check instead of a bank transfer. They would not give me the amount going to be sent. They also would not send an email confirming the closing of the bank account. They said not to worry since you could trust them. Really?

DO NOT trust this organization. It is easy to put money in, but it is very difficult to monitor your funds and even more difficult to get it back it a reasonable and timely manner. I can only hope I am going to get the money. This is the most unpleasant and time wasting financial institution I have ever dealt with in over 40 years. There is poor customer service since the wait times are a minimum of 15 minutes. They are inflexible and can't think for themselves. STAY AWAY!!!

19 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: July 15, 2020

Hsbc bank is the most unorganized bank I have ever dealt with. For weeks we have tried to access the account, then another 3 weeks to close the account. All we wanted to do was verify the account so we could use the online site. They weren't able to help us to that. Constantly forwarded to different customer service representatives for days and days because no one could help us and it felt like they couldn't even give us any information about our account. So many hours wasted on their part and of our time. I feel sorry for anyone that opens up an account with HSBC.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 10, 2020

I gave a second chance to HSBC 2 months ago after a bad experience 5 years ago. 2 months ago, I opened a bank account, I have no access to online banking. I can’t check my balance or make transfer to hsbc France, or do anything. I called maybe 10 times, Stayed hours on the phone, with promises to call me back ... Nothing... I spent an hour and half in the branch. Still nothing. I can’t use my bank account at all. I can’t access my online statement, I can use bill pay, I can’t use my money.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 2, 2020

Customer support staff are repeatedly arrogant, unhelpful, restrictive over many years without improvement. Cannot be recommended to get entangled with longer term. Comparatively, very poor security filtering, resolution, brand loyalty, QOS. Still have a blocked joint account 8 mths later with substantial funds after acrimonious split then HSBC highlight all transactions as atypical (because I had to switch accounts but staff can never comprehend, because they are sub-contracted and care nothing for preservation of brand loyalty). HSBC can be fully expected to collapse without warning.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 26, 2020

Online and mobile banking locked, just cannot get through on the telephone, branch is only open in Wigan 10-2 Monday to Friday so you are suppose to take annual leave just to get a bank statement and have access opened for your bank account, not good at all.

8 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: June 18, 2020

This is hands down the worst experience with a bank I've ever had. They blocked my account over a week ago and refuse to allow me to access the $30k that I have deposited in their bank. I made a mobile deposit from my credit union and the fraud dept flagged because it's a credit union. They continue to block any access to my account and will not allow me to withdraw my money or close the account. Please don't do business with this bank unless you want them using your money for their personal gain. They are extremely dishonest and irresponsible with "your" money.

17 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: May 29, 2020

We did 2 international transactions, 1 within 2 HSBC accounts. They both took more than 3 months to complete, not something you want in online banking. Eventually, I had to make the transfer at a physical bank. The online banking platform, at least in Indonesia, is not very user friendly and contains hiccups. It's not possible to search for a specific transaction in your e-statements so you have to sift through all transactions that month. Additionally, when looking back at e-statements, after opening 4 statements, I only get pop-ups with gibberish. This continues after signing out and in again.

7 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: May 18, 2020

I was scammed for a jewelry purchase in October for 4100.00 and they refuse to help as it is fake jewelry and they ask me to put out more money and get appraisal on the pieces. HSBC needs to help their customers

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 12, 2020

6 months after opening a new account and meeting all criteria for a bonus offer of $750, they said I didn't use the correct promotional landing page originally. #deceptivepractice, #falseadvertising I even confirmed that I met the criteria throughout the waiting period, and did direct deposits and kept minimum balance, etc. No way I can prove the landing page I used 6 months prior.

21 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: March 20, 2020

Their website was not working for me for most of today and so I called them on the phone. The quality of the voice was so bad that I could barely understand them. These are very simple things and if you can't make those work reliably then I'm afraid you need new people in charge.

16 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: March 16, 2020

I have opened a Premier account with the HSBC France. After going through whole bunch of document verification's I have received a letter of confirmation from the account opening department regarding my online banking secret code and user name which will be mailed in 15 days and my bank manager will be contacting with me as a new premier customer to discuss the banking information etc. BOY A BOY! No online banking login information and no call from the bank manager!

I kept sending messages to the email address provided me which supposedly belongs to my manager. Responses all the times were waiting patiently! Waited for a month! Nothing! Then I called the premier customer phone number and told to the operator regarding my online banking login information which I have been waiting for a month. Guess what? Operator set it out in 10 minutes!

My dear bank relationship manager why the hell you did not tell me this before? I have never get REAL answers to my questions. Simple questions like I want to convert 200 Euros into US dollars. I could not manage this for 10 days or more and still waiting. HSBC France online banking does not allow to do your own banking at all. Like I do not know what is my daily transfer limit?

Then my banking manager. He is really someone I believe who does not like dealing with foreign customers. There are a lot more like being kicked out of the premier phone line, kept online for 10 or more minutes for a simple answer, get offended right away by the operator. So this bank is a disaster. I want to withdraw my money but still waiting for an answer. My money is stuck with the HSBC France. I write complaint letters to HSBC France with no response at all. Beware!

27 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 13, 2020

I waited for 3 hours in the bank to cancel my account. When it finally was my turn they refused to cancel my account despite me having all the documents needed to cancel. When I asked them to show me where in the contract it says I'm not allowed to cancel my account and what documents were missing I was told it was my problem to figure it out. Horrible service and horrible attitude overall. Avoid doing business with them!

27 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 20, 2020

I paid off my debt on September 2019 and close account as request. They told me it is close, but month later they set the bill with the charge. I call back and they said it's the interest charge. I paid it and they still send the bill on the month after. I came to HSBC bank branch. After while they said it's close and ok. Month later they keep sending bill to me. That's a scam bank and people work in there not nice either. Get away with this. Also I figure out this bank come from Hongkong. Id that the way as Chinese try to cheat us? I will file complaint to US government to see what happen.

30 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Feb. 1, 2020

Every time I call customer service I get someone in India. I can't understand them as they talk too fast and English is not their first language. Looking online to make a complaint, there are telephone numbers listed (someone else said they are not operational) but no place to email. Eventually I found a link called 'Customer Feedback'. Clicking on that I was then routed to a page on Questions and Answers. I am just going to stop using the card. Save yourself the hassle and don't respond to their many snail mail solicitations for a 'Preapproved" credit card.

24 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 28, 2020

I opened a CD for 10,000 dollars on Jan. 9 2019. Closed the account 1 year later. They were suppose to Fed Ex my check and receive it in 8 to 10 days. After 12 days I called HSBC bank. They informed me that I would receive the check on Jan. 28. It never arrive. I again called HSBC bank. It was never sent. Now I received a tracking number. I called fed it to verify and it has not been picked up yet. If fed ex picks it up today, I will receive it on Jan. 30. Should I hold my breath???

17 people found this review helpful
Rated with 3 stars
Verified Reviewer
Original review: Jan. 14, 2020

Did not notice an opportunity to establish a "payable on death" account when opening the "HSBC Direct Savings account." Called HSBC and was told it is not available with that account. They suggested going to a local branch to see if they'll let me open another HSBC account. The reps thought was they might then let me extend the payable on death to the online account. That sounds dubious. HSBC also takes 3 business days to transfer money to another bank. One of my banks takes one business day.

8 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Jan. 9, 2020

HSBC offers extravagant incentives to open an account and then just jerks you around and doesn't pay. TOTAL waste of many hours of my life and the customer service is AWFUL. They will take your money and not live up to their end of the offer. STAY AWAY and don't waste your time!

30 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Jan. 4, 2020

HSBC has the absolute worst Customer Service in the WORLD! I only opened an account here because they were offering $400 to open a new account with Direct Deposit and man am I sorry. I literally get declined every time I try to use more than 1000.00 and have to call them every time! And Customer Service takes forever to do anything. I am closing my account TODAY, I've had it. And BTW, their App and online banking is terrible as well. AVOID AT ALL COSTS.

34 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 27, 2019

HSBC's phone application(s) and the online website are just confusing and is by far the most difficult and worst online banking I have come across. I bank with more than five institutions and this one has by far been the worst experience. I would consider myself to be someone with technical experience. Phone support was very nice but besides the successful reset of my login due to a "Generate Code" not working, EZ pay (auto pay) wasn't able to be completed, my payment date modification was not able to be met. Their online banking needs to be reevaluated immediately. I would have rather paid the extra .50% APR with a different institution knowing the inconvenience of their software.

20 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Nov. 7, 2019

HSBC bank has been the worst service I have ever heard of as far as international transfers go. Using our money the transfer is still not complete. I sent the money electronically on the 16th October and today is the 8th November and still has not arrived. It would have been cheaper to fly to the bank, get a check and fly back and wait 6 days for it to clear. You should never use this bank for your own safety and well being. Good riddance to this bank.

30 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Nov. 4, 2019

I must be an idiot for not reading this reviews and choosing HSBC's online savings solely based on their reputation as one of the premier global institution. What a fool I am. Truly, I blame myself for being an idiot way more than I blame HSBC, because the reviews were all out here. I decided to go with them over smaller regional banks that offered a more competitive return.

Like many others, they suspended my ENTIRE account after I deposited my first check. Who does that? How is this acceptable? Does anyone know the anxiety of getting the run-around from department to department (all non-native English speakers) with nearly $100k of savings and inheritance on the line?! Moreover, this is clearly a known issue for management. Like, they know this is happening. All they need to do is hire some business process consultants from McKinsey or BCG to come in and help them over two months... but this is clearly something this crook of a bank wants. What do they get out of this?!

34 people found this review helpful
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HSBC Company Information

Company Name:
HSBC
Website:
www.us.hsbc.com