Wretched HSBC Bank, How does your Bank treat you?

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This topic contains 28 replies, has 7 voices, and was last updated by Profile photo of logan logan 6 years, 4 months ago.

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  • #55758
    Profile photo of angie
    angie
    Spectator

    Been a customer of HSBC for years and now ranting at their CEO etc because they keep lowering Savers’ Interest rates despite BOE rates staying the same, yet they keep producing new great mortgage deals to newbies etc.

    Their answer is that they are cash rich and don’t need Savers’ money so they can offer low rates, whilst not matching other deals, that say it with contempt for customer loyalty. They’re bumping up their margins like most Banks, now Vince Cable is having a go at Greedy Banks again on Panorama tonight. HSBC taken to task for executive pay and bonuses again, and also favour shareholders over customers. Remember they tried to screw students who rebelled on Facebook and HSBC backed down!

    How are your Banks treating you whether Spanish or UK Banks? Are they also screwing their customers like Solbank tried with us several years ago? They kept imposing charges on us despite being in healthy credit, and saying they wouldn’t charge us, so every month we had to fight to get these credited back!

    I really dislike Banks (inc. BOE) right now! ๐Ÿ˜ก

  • #99935
    Profile photo of katy
    katy
    Spectator

    Banks in the UK seem wonderful compared with Spain. We used to be in Solbank, by default as we were in Nat-West Spain and when they pulled out Solbank took over. Their charges are higher than any other Spanish bank I have dealt with. Once paid in a cheque for selling my car and was charged 0.5% for the “service” ๐Ÿ‘ฟ They do provide some useful services for foreigners although they charge this at about 9.50 euro per quarter! I have been in the queue at Solbank many times when people were complaining about charges.

    I think Cable is a meddling fool. I don’t have any sympathy for people being charged extra for unauthorised overdrafts. Vague examples being given out today about the yearly costs for ยฃ10 overdraft, absolute rubbish…in France go overdrawn and the account is closed/frozen.

    Ulitimately if charges for unauthorised overdrafts are reduced it will the people who keep in credit who will pay one way or another as the banks won’t take the cost out of their profits. Cable is just a Labour bloke in disguise, not conservative policy at all.

  • #99735
    Profile photo of katy
    katy
    Spectator

    Banks in the UK seem wonderful compared with Spain. We used to be in Solbank, by default as we were in Nat-West Spain and when they pulled out Solbank took over. Their charges are higher than any other Spanish bank I have dealt with. Once paid in a cheque for selling my car and was charged 0.5% for the “service” ๐Ÿ‘ฟ They do provide some useful services for foreigners although they charge this at about 9.50 euro per quarter! I have been in the queue at Solbank many times when people were complaining about charges.

    I think Cable is a meddling fool. I don’t have any sympathy for people being charged extra for unauthorised overdrafts. Vague examples being given out today about the yearly costs for ยฃ10 overdraft, absolute rubbish…in France go overdrawn and the account is closed/frozen.

    Ulitimately if charges for unauthorised overdrafts are reduced it will the people who keep in credit who will pay one way or another as the banks won’t take the cost out of their profits. Cable is just a Labour bloke in disguise, not conservative policy at all.

  • #99936
    Profile photo of angie
    angie
    Spectator

    Agree about V. Cable, he does seem a bit bumbling and impotent and agree about the unauthorised overdrafts.

    What irritates me though, being a saver at present, is that we’re told savers outnumber borrowers 7-1 yet savers are really being screwed and the response of the BOE and previous Gov’t was ‘we want the population to spend their way out of recession’ but on less income.

    No problem with borrowers having a fair rate, but think savers should not be screwed to this extent.

    Personally, I would like to know more of the impact that’s being muted by the new Gov’t of ‘breaking up the larger Banks’ to create more competition so HSBC etc have to rethink. ๐Ÿ˜‰

  • #99736
    Profile photo of angie
    angie
    Spectator

    Agree about V. Cable, he does seem a bit bumbling and impotent and agree about the unauthorised overdrafts.

    What irritates me though, being a saver at present, is that we’re told savers outnumber borrowers 7-1 yet savers are really being screwed and the response of the BOE and previous Gov’t was ‘we want the population to spend their way out of recession’ but on less income.

    No problem with borrowers having a fair rate, but think savers should not be screwed to this extent.

    Personally, I would like to know more of the impact that’s being muted by the new Gov’t of ‘breaking up the larger Banks’ to create more competition so HSBC etc have to rethink. ๐Ÿ˜‰

  • #99937
    Profile photo of Anonymous
    Anonymous
    Participant

    When will you all accept that the Banks are not there for our benefit. If the banks had not behaved historically in the manner they do (Merchant of Venice ) A certain community of the banking world would not have been so powerful.

    The Government are a party to the whole charde. BOE rates 0.50%, banks charging a margin of 4% to 4.50% on mortgages with 70% to 75% LTV. They the Government are turning a blind eye & letting them build their balance sheets. Otherwise they will have to bail them out.

  • #99737
    Profile photo of Anonymous
    Anonymous
    Participant

    When will you all accept that the Banks are not there for our benefit. If the banks had not behaved historically in the manner they do (Merchant of Venice ) A certain community of the banking world would not have been so powerful.

    The Government are a party to the whole charde. BOE rates 0.50%, banks charging a margin of 4% to 4.50% on mortgages with 70% to 75% LTV. They the Government are turning a blind eye & letting them build their balance sheets. Otherwise they will have to bail them out.

  • #99938
    Profile photo of angie
    angie
    Spectator

    shakheel, the post is not about us all accepting that Banks are not for our benefit, we’re not arguing that point, we know that already.

    Why I started this was to give my experiences about the greedy HSBC and to compare them with other members on this forum and their Banks.

    Are members here being screwed on interst rates whether savings or borrowings, are their Banks putting pressure on their mortgage debts etc etc

    I’ve emailed Panorama about this but probably too late to impact on their programme which I suspect will be a bit light hearted foolery and not that serious! ๐Ÿ˜‰

  • #99738
    Profile photo of angie
    angie
    Spectator

    shakheel, the post is not about us all accepting that Banks are not for our benefit, we’re not arguing that point, we know that already.

    Why I started this was to give my experiences about the greedy HSBC and to compare them with other members on this forum and their Banks.

    Are members here being screwed on interst rates whether savings or borrowings, are their Banks putting pressure on their mortgage debts etc etc

    I’ve emailed Panorama about this but probably too late to impact on their programme which I suspect will be a bit light hearted foolery and not that serious! ๐Ÿ˜‰

  • #99939
    Profile photo of Anonymous
    Anonymous
    Participant

    Angie: Appreciate what you are saying. It sounded more genraic to me as HSBC is not operting in Spain. Further if any of us here feels that “Panorama ” would change their hard nose business practises. We are sadly mistaken.

  • #99739
    Profile photo of Anonymous
    Anonymous
    Participant

    Angie: Appreciate what you are saying. It sounded more genraic to me as HSBC is not operting in Spain. Further if any of us here feels that “Panorama ” would change their hard nose business practises. We are sadly mistaken.

  • #99943
    Profile photo of Anonymous
    Anonymous
    Participant

    What we should take into consideration that it is a free market with plenty of competition, especially for new customers. We should start to understand that using a bank is like buying from any high street shop that sells the same article at a cheaper price!
    It really does pay to change your mortgage, savings accounts, pension plans, etc, when you are offered 0% charges, -3% discount on electricity bills, water, internet, phone and community fees plus 1% extra interest on your pension plans…
    Shop around and tell your bank you are leaving because of the draconian policies, they probably wont give you a counter offer, but you will be very satisfied.

  • #99743
    Profile photo of Anonymous
    Anonymous
    Participant

    What we should take into consideration that it is a free market with plenty of competition, especially for new customers. We should start to understand that using a bank is like buying from any high street shop that sells the same article at a cheaper price!
    It really does pay to change your mortgage, savings accounts, pension plans, etc, when you are offered 0% charges, -3% discount on electricity bills, water, internet, phone and community fees plus 1% extra interest on your pension plans…
    Shop around and tell your bank you are leaving because of the draconian policies, they probably wont give you a counter offer, but you will be very satisfied.

  • #99944
    Profile photo of Anonymous
    Anonymous
    Participant

    Indeed, money is a commodity. Banks effectively have a cartel and if you talk about Spain the banks are well aware how much it cost to shift a mortgage.

  • #99744
    Profile photo of Anonymous
    Anonymous
    Participant

    Indeed, money is a commodity. Banks effectively have a cartel and if you talk about Spain the banks are well aware how much it cost to shift a mortgage.

  • #99947
    Profile photo of angie
    angie
    Spectator

    marjal, whilst I totally agree with you about shopping around for better deals with Banks, that is often easier said than done, especially in the UK at present, and probably elsewhere.

    I recently tried that on a typical UK High Street with Banks and Building Societies and they were all unhelpful, could not ‘up’ nor match others’ rates etc

    There used to be a time when a Bank over the road would be happy to get your business or your own Bank would try and keep you from moving accounts etc.

    They are a law unto themselves right now and paying themselves well again as if there was no credit crunch a while ago ๐Ÿ˜ก

  • #99747
    Profile photo of angie
    angie
    Spectator

    marjal, whilst I totally agree with you about shopping around for better deals with Banks, that is often easier said than done, especially in the UK at present, and probably elsewhere.

    I recently tried that on a typical UK High Street with Banks and Building Societies and they were all unhelpful, could not ‘up’ nor match others’ rates etc

    There used to be a time when a Bank over the road would be happy to get your business or your own Bank would try and keep you from moving accounts etc.

    They are a law unto themselves right now and paying themselves well again as if there was no credit crunch a while ago ๐Ÿ˜ก

  • #99949
    Profile photo of katy
    katy
    Spectator

    I was suprised to read in the Mรกlaga news today that mortgage arrears are charged at around 29% ๐Ÿ˜ฏ Not much chance of getting out of a hole is there. It said that foreclosures are increasing every month the average arrears being 12 months.

    Angie, I don’t think anyone cares about savers. The banks are like a Cartel and the Government are uninterested.

  • #99749
    Profile photo of katy
    katy
    Spectator

    I was suprised to read in the Mรกlaga news today that mortgage arrears are charged at around 29% ๐Ÿ˜ฏ Not much chance of getting out of a hole is there. It said that foreclosures are increasing every month the average arrears being 12 months.

    Angie, I don’t think anyone cares about savers. The banks are like a Cartel and the Government are uninterested.

  • #99950
    Profile photo of angie
    angie
    Spectator

    They used to say it was Estate Agents that were disliked/hated so much but have the Banks now become the most hated group of businesses? Could be close!

    Maybe the Banks are giving these good mortgage deals in order to sign up new customers who will be stung if interest rates rise as predicted sometime.

  • #99750
    Profile photo of angie
    angie
    Spectator

    They used to say it was Estate Agents that were disliked/hated so much but have the Banks now become the most hated group of businesses? Could be close!

    Maybe the Banks are giving these good mortgage deals in order to sign up new customers who will be stung if interest rates rise as predicted sometime.

  • #99954
    Profile photo of Anonymous
    Anonymous
    Participant

    how many in the uk would loose their houses if we saw a return to the intrest rates of the early 90’s.banks no longer care about people its all about the balance sheet and what bonuses they will get.There are millionaires out there who worked for banks doing deals that they new would fail but because they brought the business in they got bonuses

  • #99754
    Profile photo of Anonymous
    Anonymous
    Participant

    how many in the uk would loose their houses if we saw a return to the intrest rates of the early 90’s.banks no longer care about people its all about the balance sheet and what bonuses they will get.There are millionaires out there who worked for banks doing deals that they new would fail but because they brought the business in they got bonuses

  • #99961
    Profile photo of Chris McCarthy
    Chris McCarthy
    Participant

    @angie wrote:

    I really dislike Banks (inc. BOE) right now! ๐Ÿ˜ก

    Anything that keeps your Big Guns pointed in the other direction gets my vote Angie!

    ๐Ÿ˜‰

  • #99761
    Profile photo of Chris McCarthy
    Chris McCarthy
    Participant

    @angie wrote:

    I really dislike Banks (inc. BOE) right now! ๐Ÿ˜ก

    Anything that keeps your Big Guns pointed in the other direction gets my vote Angie!

    ๐Ÿ˜‰

  • #99970
    Profile photo of angie
    angie
    Spectator

    That’s ok Chris, in fact you seem quite benign compared to Banks right now ๐Ÿ˜‰

    Guess what though, people power works, I’ve just had a result!

    My P. Relationship Manager at HSBC called me after starting this topic which she didn’t know about, she’s just returned from holiday. Anyway, I’d started banging on to the CEO of HSBC and others at Head Office about their dismal returns compared to other institutions.

    She told me that the account they were dropping the interest rate on (affecting me), had just been increased surprisingly by another .17% ish from July, (still lower than what we had fixed for the year to 10th August though) and was all because of my emails. I asked if she was sure of that and she confirmed it coming from an inside source. She then asked if others could write in to Head Office as this strengthens the case for increases and better service too. Every time I’ve moaned at them, they’ve taken notice it seems, not always the full result but better than nothing.

    So the moral of this is, you need to complain to get things done, it’s just a bit tiresome to feel you have to do it ๐Ÿ™„

  • #99770
    Profile photo of angie
    angie
    Spectator

    That’s ok Chris, in fact you seem quite benign compared to Banks right now ๐Ÿ˜‰

    Guess what though, people power works, I’ve just had a result!

    My P. Relationship Manager at HSBC called me after starting this topic which she didn’t know about, she’s just returned from holiday. Anyway, I’d started banging on to the CEO of HSBC and others at Head Office about their dismal returns compared to other institutions.

    She told me that the account they were dropping the interest rate on (affecting me), had just been increased surprisingly by another .17% ish from July, (still lower than what we had fixed for the year to 10th August though) and was all because of my emails. I asked if she was sure of that and she confirmed it coming from an inside source. She then asked if others could write in to Head Office as this strengthens the case for increases and better service too. Every time I’ve moaned at them, they’ve taken notice it seems, not always the full result but better than nothing.

    So the moral of this is, you need to complain to get things done, it’s just a bit tiresome to feel you have to do it ๐Ÿ™„

  • #99994
    Profile photo of logan
    logan
    Participant

    @katy wrote:

    .in France go overdrawn and the account is closed/frozen.

    ………….and you will receive a visit from the Gendarmes and asked to explain your fraud and likely get your collar felt. Thats the reason cheques are accepted everywhere by everyone in France, no such thing as guarantee cards either. Far more draconian than a few quid in charges.

  • #99818
    Profile photo of logan
    logan
    Participant

    @katy wrote:

    .in France go overdrawn and the account is closed/frozen.

    ………….and you will receive a visit from the Gendarmes and asked to explain your fraud and likely get your collar felt. Thats the reason cheques are accepted everywhere by everyone in France, no such thing as guarantee cards either. Far more draconian than a few quid in charges.

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