HSBC Bank Accounts
HSBC is one of the largest banking and financial services organisations in the world, with a long history in providing banking services for customers throughout the world.
In addition to their Basic Bank Account, HSBC also offer a Regular Account, a Plus Account and a Premier Account. The latter two come with a much larger range of additional benefits, such as no overseas ATM transaction fees, annual travel insurance, and overdraft service, and discounts on selected goods and services.
The Basic Bank Account comes with the following benefits:
- Internet banking
- No monthly credit minimum
- Automatic switching of your current direct debits to your new account
- Support of Identity Theft Assistance, including one free online credit report per year
- Overdraft facility with a rate of 19.9% EAR variable (subject to status)
- Free HSBC bank debit card for use at home and abroad
- Up to £50 cashback at a various UK outlets when using your HSBC debit card
- Monthly statements
- Option to “Go Green” and view electronic statements online instead
They also offer a range of accounts to suit under-18s, students, graduates and those wishing for a Shariah-compliant banking option.
HSBC Customer Experience
Most HSBC customer experiences are very positive. With a renowned international reputation in the banking and insurance industries, the company is among the strongest in the world and can afford to offer its customers an attractive and reliable service.
Customer help line staff is praised for being helpful, knowledgeable and friendly. Signing up is made relatively simple and switching from one account type to another is easy. Branch staff members are also happy to discuss further investment options so to give the customer the best option for their money.
While there can be an excess of letters and leaflets coming through the letterbox each month promoting different account types and insurance services, most customers realise that this is just typical of all banking nowadays.
Finally, most customers only want one thing from their current account and that is security for their money.
Being such a large corporation with investments all over the world certainly helped HSBC weather the recent financial crisis, and this adds to the sense of wellbeing that the small savings of the ordinary person is secure even in the direst of circumstances.
Overall Review for HSBC Bank Accounts
HSBC offer a high-standard banking service, with added benefits that make it good value for money and extremely competitive.
The customer service is strong and there is little paperwork involved in both signing up and switching direct debits to the new account. HSBC offer a straightforward and reliable bank account option.