Terrible Online banking Experience
I have recently applied for a mortgage with HSBC with good credit history and reasonable financial background. They have randomly asked more documents every now for about 3 months. I have submitted nearly 80 documents, continued asking the same documents again and again even after signing all the contracts. They have wasted my 3 months of time and efforts, Terrible banking experience with these people. Please stay away from them.
The worst damn bank in Australia
HSBC Sucks so bad. Where to start!?
Signing up for a mortgage with them is an ORDEAL. Do not expect it to go smoothly. Expect them to randomly ask for more documents, for things to be re-signed, to be resent with arbitrary requests added seemingly at random. I raised a complaint about a few things, and it took 4 weeks for them to call me about it and all they did was get defensive and try to make it out that it was my brokers fault. I've worked with my broker for 4 mortgages and they've been terrific.
Once(if?!) you become a customer, the ex...perience just gets worse. The mobile app is appalling, throws error messages and prevents you sending money to accounts for no reason. Has a terrible UI, and is generally the worst mobile banking app i've ever used. I have been with around 6-7 banks and it's awful. Can't even be bothered with the web banking. If you're just after their cheap mortgage rates, make sure you keep your regular bank for your daily banking. They suck!
An unpleasant expereince with the most intruding banking system
I tried to open an account with this bank for day-to-day activities. They were asked me hundred of questions about my financial life. They are unbelievably intruding on my personal private life. I believe a banking system that so suspicious about the detailed private life of their customers is not trustworthy.
Very bad banking service
Recently my wife applied platinum credit card, we give all documents which they asked online with application. After week they emailed asking more documents one by one in different emails. Not recommend this bank, even their customers service is very bad. Not recommended.
Unsure how this bank can operate legally in Australia
Unsure how HSBC retains any customers. The entire experience has been difficult, trying to leave the bank proves to be virtually impossible. The amount errors is unimaginable and the way they treat "premium customers" is appalling.
They move money around without permission, do not respond to queries or complaints, are extremely rude. Unable to comprehend how they operate legally in Australia. Shocking bank, terribly rude banking personnel, horrible, STAY AWAY! Not even worth it if they have lower rates, terrible, terrible, terrible.
SCAMMERS! Disgusting excuse for a financial institution. AVOID AT ALL COSTS!
Online credit card application asking for internet banking user ID and password. Absolute scamming organisation. Avoid at all costs. All personal information collected then application declined with HSBC refusing to disclose the reason why with absolutely no reason to decline finance.
Unethical bank I’m taking to Australian regulator
I once had a credit card with HSBC and many years ago I paid the card off and as it seems overpaid by $350 around 10yrs ago. Since 2014 till 2020, hsbc took their payment for fees each year and reduced the balance down to zero, then in their unethical wisdom, made sure to bill me for overdue fees since they must have an account fee for nothing and now placed default against my credit record. Don’t ever use this bank
AVOID!!!!!!!!!!! Terrible customer service, incompetent staff.
I have been an HSBC customer for about 2 1/2 years after taking out a home loan with them. I recently needed to refinance and thought it would be a pretty straight forward process. How wrong could I be!!!!!!
I have a reliable government job, steady income proven with payslips, one debt (novated lease car loan), and an excellent credit rating. I completed all documents by return of e-mail / post / phone call. I applied for the re-finance in February and here we are in April, ready to settle on another property and about to lose the property...and deposit in full because the HSBC can't read documents, can't answer the phone (to me or my broker), don't respond to e-mails. The HSBC are full of false promises to return communication and provide settlement details. Avoid these fools at all cost.
Absolute mess of a verification system.
Won't let you recover your username without going into a bank branch.
Unlike every other HSBC international bank branch, Australia forces you to verify in branch.
Don't deal with them if you live far away from the branch. All i wanted to do was recover my user ID and after going through the verification process confirming it was me they then said, oh sorry i can't give you that information. They then send you in an endless verification loop with emails that never come and mobile verification links that don't exist.
Every other bank lets you recover online why do you make it so difficult. Sort out your processes I just want to pay off my credit card ffs.
Extremely poor communication
It has been proven that the HSBC bank is dodgy globally. I am not surprised at all.
Neither you nor they know where the application is at. A bunch of Amateur kids.
Very poor customer service and terrible processes
I had been a customer for about 2 years (just had a home loan with HSBC) and had no issues, until I wanted to sell my property.
They absolutely mishandled almost every part of a property sale, including delaying the section 27 (deposit release to vendor) until a week before settlement, not answering emails or returning telephone calls and then delaying settlement by several hours, causing undue stress for all parties involved. Happy to take a $300 fee for the discharge however, but never offer any kind of apology and ignoring a formal complain...t lodged to their complaints department. Will avoid ever being a customer again. Every part of the process took several telephone calls and emails from my side. To the point where I was having to ask for every call to be escalated to actually get any response.
Customers are just money cow for them. Not worth the effort.
I had applied for an HSBC credit card a second time now. Twice rejected with no explanation, no effort to let me know I have been rejected and been insulted on the phone when I call them to follow up.
Don't get me wrong, I have bank about with HSBC for years and a constant income of a couple of thousands a week, money is not the issue. I have transparency and a great credit score. But I would expect at least an email to understand why. Not treat me like a money cow a been lied to.
Takes forever to settle a loan, whether you're applying with them or trying to refinance elsewhere. First and last time we'll be dealing with them. Terrible service. Go somewhere else.
The most terrible credit card I ever had
I had my HSBC Qantas credit card for about a year. I had the opportunity to speak to them several times. They are nice on the phone but mostly do nothing what they promise. I needed to change direct debit details, I am not kidding, it took them 3 months. I send a paper letter, 2 faxes and had numerous phone calls with them. And because they have terrible website too, I decided to cancel my credit card. I called them and again, "sure, sure" it will be done as soon as we receive the payment. I paid strait away and next day I could not get into m...y account, so I though great, it was done without any problems. Today I called them again because I earned very little Qantas Frequent points (6) and I spent on their card much, much more. Same the month before. So as I said I called them today, and the HSBC lady told me, that my account is still valid and they even charged me the yearly fee. She promised to cancel the fee and close the account. So I hope I will not hear from them ever again. Never mind the Qantas Frequent Points.
The most stressful process with this bank and relationship manager. I was applying for a home loan and got different staff every time on the phone. Bank “relationship manager” was unhelpful with the generic questions I had the application process making it stressful. I wouldn’t get a response to my email until a day later and lost days when applying for the home loan due to this persons lack of response and care factor. I also asked for the manager who never returned my call. Then I rung again and insisting to speak to a manager who finally assisted me but it shouldn’t have escalated to that.
Interest rate repayments are no longer on hold as My wife doesn’t meet their criteria apparently. Unfortunately due to the pandemic I’m currently unemployed & have been for some time now, luckily my wife is still working though after paying rent, bills & buying main essentials, we are left with $300 in our account to last a fortnight for the both of us, yet HSBC say that my wife doesn’t meet their criteria to hold interest repayments on her credit card. Instead they said to my wife “you have all this money in your account, why can’t you make a ...payment today” this is after my wife explained to them our situation & here we are thinking that HSBC was a friendly understanding bank that works to help their customers. Will definitely be exploring our options with one of the big 4 banks tomorrow, strongly recommend all HSBC customers to do the same since there’s no care or understanding for their customers especially during these hard times. Very disappointing coming from HSBC
Cash management and payments an issue
HSBC is not an OSKO member and I have experienced regular payment delays in both receiving and remitting funds. Also the credit card and transactional banking are not linked so when you pay down your credit card it does not update real-time. There are better banks out there.
Wow no Osko
Wow no Osko so 2-3 days to transfer money to my other account, App is slow 2-3 minutes to open and if you need your current balance then get a pen and paper and go through your transaction history and write down all pending withdrawals some could be up to a week ago then subtract that amount from the stated balance at the top of app and wollah you will have your current balance. oh and if you wanted the $100 sign up bonus your balance must be above $2000 for 3 consecutive months. But there was free fortune cookies at the city branch which was good because with only 2 tellers it was a 25 minute wait and i was the only other person in the bank.
Terrible banking experience
We made the mistake of going to this bank 5 years ago. Our mail persistently went to the wrong address despite updating details online. It turns out that you have to call in and hope the person on the other end will do the right thing. The last time we moved, it took 3 phone calls before they mailed to the correct address. My wife no longer has an ATM card because they mailed it to the wrong place twice and she gave up trying to get them to mail it to the correct address. She was refused a withdrawal over the counter (as a HSBC Premier customer...) since they didn't like the look of her signature despite producing all ID they asked for. HSBC use an electronic token with their internet banking. I followed the procedure as stated and got locked out of my account since it stated that I entered the incorrect code 3 times. It turns out that I should have logged on using the token as using my password to log in will result in what was just described. If you are ok with their idiotic systems which prevent you from accessing your money then go to HSBC. We never had such problems with CBA. That's where we are returning to for our banking.
Customer service and systems lack competence
The good: 2% cashback on paypass <$100. Home loan process with them was pretty straightforward and easy - had a decent experience corresponding with the one key worker.
The bad: My debit credit card got scammed so had to cancel it. The disputed transactions process is unbelievably bad. First call didn't capture the full issue properly. Second call didn't capture the full issue properly. Third call didn't do the trick either. Then I've lodged multiple written complaints online which have been misread almost every time. HSBC are 3 piecemeal tran...sfers in and still haven't fully resolved the disputed transactions (7 of them), despite the last time being me completing a written document to capture the issue, in excruciating detail. It is so frustrating and over a month has passed now with the issue still unresolved, with far too much correspondence required on my part. And they sent my replacement card and PIN to the wrong (old, thankfully with family) address despite my having updated it. Terrible! And no apologies from HSBC along the way.
Questions & Answers
Has anyone had a bad experience exchanging foreign currency with HSBC?
No... I’ve always found HSBC really easy to deal with. I don’t know why all these other people are whinging. Maybe they’re just not good at dealing with stuff...
I opened a Global Currency Account with HSBC for the purpose of sending money to the US + complying with AML policies of the recipient. I found their exchange rate to be top 2 among AU banks (money transfer services like Transferwise not included). They show the real time exchange rate and for the fees I get charged a flat 8 AUD. From experience, I convert AUD to USD in their app then I send money before 3 pm, it's received the following day. I am happy with HSBC for the situation described.
I have just opened an account and then I read the reviews. I am now thinking twice about transferring some money. What ia the bank going to do to address these issues?
The bank does nothing.
Once it has your account that's all that matters.
No customer service from that point on.
Nothing because people just use this site only to ‘keyboard complain’ rather than contacting the bank directly to address their issues.
Ask the bank but my guess is NOTHING
Is HSBC the worlds global bank
is it the worlds rudest bank?
Definitely the rudest and there are so many better choices out there. From now on I am sticking with the NAB.
The rudest, most inefficient, expensive and most difficult to deal with - and coming from an ex employee. Stick with the local banks with efficient processes and appropriate resources located within Australia.
Rude, costly and incompetent. Hugely frustrating to deal with. A bank getting worse and being left behind.
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