Avoid like the plague
I had an account with them.
The uber-complicated and convoluted authentication between app and desktop site was soul destroying as the user is NOT prompted to check code from the app and vice versa.
I called the call centre in 2 occasion and they were helpful BUT it defeats the purpose of self serving online or via the app.
In addition, poor exchange rates and supporting Beijing vice on HK...so not all in all not for me!
(I only considered them for international accounts and currencies).
Go to Transferwise instead!
Home loans from a third world bank
Have been with HSBC for 12 months for my home loan. App requires email/sms verification every time you log in. And doesn't send an email or text. To the point they sent me a black device i need to use to verify myself. You can future pay bills, but cannot see the future payment has been set up. Spent at least 3 hours on the phone with them in the last month to access my redraw. Customer service is abysmal. Tried to pay for $67 of fuel tonight when my account showed $195 credit. Declined. Called the bank and they assured me funds were av...ailable. Drove back to service station to collect my licence and pay. Declined. Then text from them that my card was frozen due to 'suspicious activity'. Phoned them to cancel my card (paid for fuel with savings card). They then advised cannot cancel my card til last weeks transactions were authorised, and I'd have to ring back. Worst of my banks for managing transactions online. DO NOT USE them for anything beyond home loans if you don't need redraw. Third world bank.
Worst Experience Ever
I have filled an application for a new credit card and after almost 2 weeks back and forth and providing too much unnecessary information and documents, my application has been approved for just half of what I have asked for. No one informed me about what has been approved. No Email, No calls.
I have an excellent credit history, just one credit card and solid income. I cancelled the card and now I have that unwanted card in my credit report.
Thanks for not caring about your costumers.
DO NOT USE
So extremely difficult to transfer money out of this bank. DO NOT USE THIS BANK YOU WILL REGRET IT.. Customer staff good but their whole banking system sucks. I am ringing the ombudsman.
Poor bank of Australia
Over 2 years i havent found it reliable. Extremely poor customer service. Please look other way and walk away dont waste time here its not worth it thanks alot hope.
Here is a tip they care less of customers they have 0% interest in customer service it all comes from inadequate childhood trauma its all known as cptsd but they use customers as scapegoat blame and shame and really humiliate them self in progress.
I would NEVER recommend HSBC !!!!!
I would NEVER, did i say NEVER recommend HSBC for any services. I applied online for a loan of $3000 and i checked my own credit rating which was moderate and went through all the processes they required which was extensive and was declined. I have no mortgage own my own premises have and have very limited liabilities and only went to them as i purchased outdoor blinds and they offered interest free terms for 12 months so thought i might as well use there money like everyone else. They were soo rude over the phone and would not disclose why i was declined. $3000 are you kidding me !!!!. HSBC the more people i can tell never to deal with them the better !!!!!
Call Centre Chaos
After signing up for a 72 month interest free loan for our new roof, we calculated how much we would need to pay in order to get it paid a year or two quicker. Of the 30k we borrowed this time last year, we have already reduced our final payment date by one year. We have never had an issue but suddenly our statements have a “minimum payment” attached which is significantly higher than what we have been paying so we rang HSBC to enquire why. Five calls later, we have still not been given an answer &, whilst they promise to call back, not 1 of...the 5 call centre people ever has. We’re still in the dark about this sudden change of terms & the last person we spoke with said they would refer us to the Hardship Office who would ring us straight away.........they never did. We now have no idea what is happening with our loan, whether we are in breach of anything, whether we are in default etc. We received a demand for payment when we did not pay the additional amount & nobody is prepared (or knowledgeable enough about their own product) to tell us what has changed & why there is suddenly a need to pay a much larger amount. Given we are a year ahead with our payments, we cannot fathom the sudden change of terms or why nobody will answer our query. As to the Hardship Office, we don’t need to speak with them, just somebody at HSBC who knows what is going on would be great. Grrrrrr.
Terrible banking experience
Our banking experience with HSBC has been terrible. Firstly, I can't transfer money to my other bank or anywhere else because the online app security code generator button has gone AWOL.
We are trying to refinance our mortgage to move away from HSBC. Original settlement date was 29 June. HSBC has now pushed it back 4 times and we are now crossing our fingers it will be 6 August.
If I could give no stars at all, I would
Worst bank to deal with ever! Paid off my credit card "it will take one day to clear, please call back tomorrow"... charges me interest on imaginary purchases... "you still owe $x so cant close the account"... pay and call back next day... "we can't close your account because of xyz"... every single day for a month now! Keep getting put on hold, then transferred to India then told the same thing time and again with no solutions at all. Worst bank ever!!!! Seriously, if you can- DO NOT SIGN UP! I am not rude or impatient HSBC is just the worst.
Worst banking experience - avoid like the plague
Avoid at all cost! Massive issues on all fronts. I could not perform simple functions such as transferring funds out of the account without calling for support to reset digital security keys. The Online banking interface is horrendous and is largely dependant on the app for digital security keys to perform transfers. I could not see or search transactions that appeared on the app. Call centres are offshore and present a security risk. WIll be closing my account ASAP.
HSBC worst bank I've ever dealt with
I've been with HSBC for a couple of years now and I can't wait to finish the current project and close the accounts for good. HSBC has the worst customer service I've ever experienced. They ask for the same information over and over again and wasted a lot of my time. The info has to be provided via postal mail. Who on earth still requires hard copies in this time and age.
When you finally receive a response to your emails the English was so poor I had no idea what they were on about.
AVOID HSBC AT ALL COST!!! I wouldn't open another account if they would lend me money for free.
- Verified customer
Makes the simplest things difficult.
Signed up for the deposit bonus.
Just now tried to do a simple BPAY.
Half an hour later, still trying.
Not sure now if $100 deposit bonus is worth it.
Hardest Bank to deal with
Ive been with this bank for 15years. Since a few years ago they changed their security procedures and OMG they have made is to cumbersome to try and access your own money. You have to go through multiple steps over and over again, you have to have a token on you at all times if you want to do any online banking and if you call their call center and get someone from the Phillipines you might as well just hang up... They have limited branches, but when you call up to get help you are told to go into a branch.
for all of these reasons i decided to close my account with them and now they tell me cos i have a balance in my account i have to pay a $5 admin fee to close the account!!
Update Email Address
I just wanted to update my email address. I tried doing this on-line but you have to provide all the irrelevant data that they need including country of birth and current employment data. I tried going to the bank branch so they can do the update for me. Unfortunately they are still adamant in getting the same data as the on-line before they can update the email address. I left frustrated at their inflexibility and indifference of their staff.
Restricted ability to withdraw your funds
I opened a Serious Saver account to take advantage of the promotional 4 month interest period. Having had similar accounts with many other Banks over the years, I can say without a doubt, HSBC has some of the worst banking practices in the industry. A word of warning for potential customers: when it comes time to move your money out, you will only be able to withdraw $50k per business day. To bypass this limit you must print, fill and (snail-mail) post it to them for processing. Alternatively you can visit a branch (my state has 1) and pay $25 ...to do an unrestricted, assisted transfer. They will not help you over the phone like every other bank. If, like me, you decide to transfer your money bit-by-bit each day, you will lose all interest for the next 2 calendar months on the remaining balance. Once my money is finally out of this bank, I will be closing the account and putting it on a never ever again list.
Messages with HSBC disappear in 30 days
Had opened an HSBC Everyday Global account with the BUPA offer which offered $150 if you deposit $2000 every month for 3 months. Received an email after account opening that I would get $100. Reached out to HSBC support through the messages option in online banking. They confirmed it was sent by error and I would get $150. I have now met the criteria and I received just $100.
The issue is that the message interactions with HSBC are automatically wiped out after 30 days so there is no trace. But all of their alerts sent to you last forever which seems dodgy. Thankfully I have taken screenshots of the conversations. Now working with customer service to get the balance. Such a waste banking with HSBC.
Horrible, refusing to close account
Horrific experience, awful online systems are glitchy, cumbersome and the worst I have come across. The call centre is often closed, even when it's scheduled to be open and to top it off the bank has been refusing to close my account over a period of 6 months even though my savings account has a zero balance, because "interest is accruing". I have had to escalate the situation to APRA. I strongly advise you do not consider this bank under any circumstance.
After 3 years with HSBC I decided to refinance with another bank. HSBC postponed my settlement date four times with no reasons provided. Normally it takes approximately 10 days for banks to process a discharge, however it has been two months and I am still waiting. I have made formal complaints and have not heard back. I will now have to contact the Financial Ombudsman to resolve this. I have learnt my lesson to never deal with HSBC again.
They simply don't care!
I've been HSBC customer for more than 5 years. I used to have home loan with them, have refinanced with other bank ever since. Communication was hard, sometimes I got no response and being assigned a home loan manger made things even harder, I didn't get response if he was on leave. They simply don't care whether you want to stay or leave, never make attempt to have discussion with you. Trust me, you won't see this until you need to contact them to fix issue. I've been banking with many banks small and large in the last 15 years, and HSBC is right at the bottom of the list when it comes to communication and customer care. One star is for them to exist as a bank.
went there for a simple transaction staff were very helpful. I was in the process of moving my mortgage from NAB to another bank but was having some issues and delay in communications. HSBS had an offer 2.65 I asked about the offer and the staff took my details and said they will give my details to the manager Kiki. less than half an hour later she called me and arranged for the home loan application and followed up with me and helped me every step of the way. always calling to update me on everything and made my application muc...
Questions & Answers
Has anyone had a bad experience exchanging foreign currency with HSBC?
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?
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.
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.