Offshore Banking

[yesdavy]

I was interested in possibly setting up an offshore account after repeatedly seeing the HSBC banner ads on this site and found that the method of contact is to give them vital id data and wait two days for a call back. I am always wary of any business that asks for too much personal data and then opts to distance itself from potential customers, because, if they are so distant when they are in the courtship stage, you are unlikely to find them after they have your money. So, I Googled <HSBC Bank problems> and in a quarter of a second and 582,000 results later, went from potential customer to forewarned is forearmed. The first consumer affairs site has 25 pages of people ranting about shortcomings and issues, mostly about not being able to contact anybody without waiting for 45 minutes, or having no option but an IVR automated press one for this and press two for that phone system and no option for speaking with customer service. Apparently, there are customers unhappy with a lot of late charges resulting from the bank not posting credit card payments upon receipt in order to garner late fees. Of course, some of the complaints are out in left field, and there are some real idiots, but the general tone is customers dissatisfied to an extreme. Next I Googled <HSBC Bank complaints> and reaped another load, more of the same. I'm just glad I saw what their customers are saying about them before I got involved. On both of these searches, the complaints go deep, (20 google pages was all I needed.) Which brings me to query what the Thaivisa policy is on advertisers. Does this web site vet advertisers in the best interests of those of us that use this site, or does this site take the money and accept all advertising?

[endure]

How does Thaivisa vet one of the world's largest banks?

[Bizz]

depends how many hits HSbc gets from Thai visa had a look a site and was put off by charges you have to leave from memory £20000, in at a time on deposit to avoid to me were excessive charges.

[chiang mai]

And on a practical front, I've been extremely pleased with HSBC Premier service and services for the past ten years or so.

[manarak]

Any bigger business is bound to have lots of complaints.

You are likely to get the best service with a normal account in a place like Singapore or Switzerland, but you may have to visit in person to open the account.

[WeeGB]

I had a savings account with HSBC in the UK, which I didn't use for a couple of years, (a/c had about 700 pounds in it). Received a letter from them, telling me that they had closed my account, due to the high cost to them of maintaining it, and I had 28 days to go to a branch, and get a refund in cash. Wouldn't touch them with a very long bargepole.

[Ricardo]

And on a practical front, I've been extremely pleased with HSBC Premier service and services for the past ten years or so.

Ditto.

I would point out that the HSBC Premier-account, which carries a requirement to maintain over-the-medium-term a balance of GBP 60,000+, does offer higher-interest and lower banking-costs in return, amongst other benefits.

[cmsally]

And on a practical front, I've been extremely pleased with HSBC Premier service and services for the past ten years or so.

Ditto.

I would point out that the HSBC Premier-account, which carries a requirement to maintain over-the-medium-term a balance of GBP 60,000+, does offer higher-interest and lower banking-costs in return, amongst other benefits.

It seems we are in agreement that HSBC Premier offers a pretty good service. As far as normal service I would think it is pretty similar with other banks in that it is very difficult to contact an actual person.

Regarding setting up an acct. it is normally easier if you have an acct at an onshore branch first, I think this goes for all the banks , presuming they have an onshore version you are eligible for.

If you are thinking of offshore also take a look at Standard Chartered - also very good service.

[PattayaParent]

And on a practical front, I've been extremely pleased with HSBC Premier service and services for the past ten years or so.

Ditto.

I would point out that the HSBC Premier-account, which carries a requirement to maintain over-the-medium-term a balance of GBP 60,000+, does offer higher-interest and lower banking-costs in return, amongst other benefits.

It seems we are in agreement that HSBC Premier offers a pretty good service. As far as normal service I would think it is pretty similar with other banks in that it is very difficult to contact an actual person.

Regarding setting up an acct. it is normally easier if you have an acct at an onshore branch first, I think this goes for all the banks , presuming they have an onshore version you are eligible for.

If you are thinking of offshore also take a look at Standard Chartered - also very good service.

Gotta agree with these 3 posters even though I'm not rich enough to afford to have a Premier Account just a humble normal account.

As for not being able to contact anyone for 45 minutes, I think you mean 45 seconds. Contact with HSBC is never a problem although if I call outside of regular banking hours and get their call centre then they sometimes can have problems accessing my account details but jump though hoops to help in any which way they can.

I bet if you Google 'Lloyds Bank complaints', 'Barclays Bank complaints', 'Standard Chartered Bank complaints', 'ANZ Bank complaints' etc. etc you'll get a similar number of pages listed.

[chiang mai]

And on a practical front, I've been extremely pleased with HSBC Premier service and services for the past ten years or so.

Ditto.

I would point out that the HSBC Premier-account, which carries a requirement to maintain over-the-medium-term a balance of GBP 60,000+, does offer higher-interest and lower banking-costs in return, amongst other benefits.

It seems we are in agreement that HSBC Premier offers a pretty good service. As far as normal service I would think it is pretty similar with other banks in that it is very difficult to contact an actual person.

Regarding setting up an acct. it is normally easier if you have an acct at an onshore branch first, I think this goes for all the banks , presuming they have an onshore version you are eligible for.

If you are thinking of offshore also take a look at Standard Chartered - also very good service.

Gotta agree with these 3 posters even though I'm not rich enough to afford to have a Premier Account just a humble normal account.

Ha, you just want us to think that you don't but we know differently.

[Alter2]

I have a USD account with HSBC Singapore, that, after being charged $70 for a wire, I promptly withdrew my funds. The account is inactive and has a nil balance, yet, every month they send me a statement, to my OLD address no less. I call them to close the account, they said I need to send a letter. I type a letter instructing them to close the account. Few weeks later I receive a letter stating that the signatures are not the same. I type a new letter instructing the same, copy of my passport with signature that matches that of the letter. Few weeks later I get a reply that the account can not be closed due to signatures not matching. Now, Im starting to get pissed. I call phone banking, and she verifies me as being me, ok. I tell her the issue, and she says I will have to make arrangements to go down to HSBC here in Thailand to verify my passport, I tell her I am not wasting half a day to do this. I ask her to stop sending paper statements then, she says she can not do that as my account is inactive. I ask her to activate, she says I will have to come into to the branch...in Singapore!! F'n ureal!! I ask her whats the point of phone banking, if she can not do anything for me? She already verified that I am who I say I am, yet, she can not help at all.

HSBC- exorbitant fees and hidden charges, and a policy that is borderline retarded. Stay away from this lot.

[Alter2]

I had a savings account with HSBC in the UK, which I didn't use for a couple of years, (a/c had about 700 pounds in it). Received a letter from them, telling me that they had closed my account, due to the high cost to them of maintaining it, and I had 28 days to go to a branch, and get a refund in cash. Wouldn't touch them with a very long bargepole.

Your lucky. HSBC Singapore is doing everything they can to NOT let me close my account, despite it having a zero balance. I asked how long will they continue to keep the inactive account open and send me statements, HSBC replied that they will not close it. Now I know why their fees are so high, they have to maintain all their inactive accounts!!

Edited January 31, 2010 by Alter2

[dsfbrit]

HSBC called me up last year in Thailand as I was opening a savings account. They were offshore in the Channel Islands. They said before they could talk about my new account, they just needed my personal information. Firstly they wanted my 'date of birth'. I said NO WAY. How do I know you are HSBC bank - who would be daft enough to answer these questions.

It was easily solved - I just called them back on the number on their website.

This person actually wanted to give me their phone number. NO WAY - it could be the phone number anywhere. With all the identity theft that goes on nowadays and dodgy scams, it would be better it they found a better way to coordinate this sort of task.

Yes - I am obsessive about these things - I was the victim of Internet Identity theft and had 7000 pounds stolen from a Northern Rock account - it was returned by Northern Rock after the Metropolitan Police provided evidence that it was part of an international gang.

A very sobering experience and made me realise just how many scam artists there are out there!!!

Edit: By the way I think overall HSBC is a good bank. Certainly for Expats. Over the years I would say they have been as good as/ better than the other banks I deal with. I had to make a complaint last year and it was dealt with in a reasonable manner. I am able to send them secure emails via my Internet account - not something provided by some of the other banks. Very useful for those of us not in the UK and so cannot pop in for a chat in our lunch time - like I used to!!!.

Edited January 31, 2010 by dsfbrit

[chiang mai]

I'd rather have a bank that has stringent security than one that accepts telephone instructions on ad hoc basis, even if it does cost me some grief from time to time.

As I've said before I'm very pleased with HSBC. Last week I had to contact my UK branch because somebody had made illegal charges to my credit card and whilst I could answer all of their security questions, I couldn't for the life of me remember my PIN and they refused to discuss any aspect of my account with me. Fair enough and thank you HSBC (or any other bank I deal with) for having good security is my view.

[Alter2]

I'd rather have a bank that has stringent security than one that accepts telephone instructions on ad hoc basis, even if it does cost me some grief from time to time.

As I've said before I'm very pleased with HSBC. Last week I had to contact my UK branch because somebody had made illegal charges to my credit card and whilst I could answer all of their security questions, I couldn't for the life of me remember my PIN and they refused to discuss any aspect of my account with me. Fair enough and thank you HSBC (or any other bank I deal with) for having good security is my view.

Good security, yes, I am all for it. So when I call them, and they put me though their own security checks, and I PASS, why is it that they could not assist me with anything?? They already confirmed that I was the account holder, yet, the phone banker was not allowed to do anything except tell me to come down to the branch. What is the point of having phone banking then?? It was one hoop after another. And this is just to close an account, I shudder to think how anal they would be should there actually be an issue that involved a transaction or other financial matter. Oh, and their fees are highway robbery.

[chiang mai]

I'd rather have a bank that has stringent security than one that accepts telephone instructions on ad hoc basis, even if it does cost me some grief from time to time.

As I've said before I'm very pleased with HSBC. Last week I had to contact my UK branch because somebody had made illegal charges to my credit card and whilst I could answer all of their security questions, I couldn't for the life of me remember my PIN and they refused to discuss any aspect of my account with me. Fair enough and thank you HSBC (or any other bank I deal with) for having good security is my view.

Good security, yes, I am all for it. So when I call them, and they put me though their own security checks, and I PASS, why is it that they could not assist me with anything?? They already confirmed that I was the account holder, yet, the phone banker was not allowed to do anything except tell me to come down to the branch. What is the point of having phone banking then?? It was one hoop after another. And this is just to close an account, I shudder to think how anal they would be should there actually be an issue that involved a transaction or other financial matter. Oh, and their fees are highway robbery.

Internet banking in Thailand is a fairly new phenomena, even for banks such as HSBC. I've seen HSBC in Thailand slowly adopt processes that have been standard in the West for many years but I think it's important to remember that the state of (say) HSBC operations in Thailand is not yet as sophisticated as it is in the UK, the USA or even their near neighbour Hong Kong where every aspect of the HSBC process works 100%.

I suppose my best advice to you is to live with the zero balance statements for the time being and the next time you are near ANY HSBC office, go in identify yourself and they will take care of the problem if asked.

Finally, as for fees: as stated earlier I have a Premier account that costs me nothing and this includes free banking and credit cards in Thailand, UK and Hong Kong - it also means that I have direct access to a person in each country who can sort out any problems that may arise. I can see on a single screen all of my accounts globally and I can transfer funds between them, on-line and in near enough real time, at zero cost - it also allows me to trade currencies online at margins that are so low as to not worth worrying about.

In exchange for all of that I have to lock away GBP 50k for a year at 3.5% (3% over base rate) and a very competitive rate of return.

Frankly, all of that seems like a pretty good banking deal for me personally and if you know of anything that is more cost effective, please post.

[Alter2]

I'd rather have a bank that has stringent security than one that accepts telephone instructions on ad hoc basis, even if it does cost me some grief from time to time.

As I've said before I'm very pleased with HSBC. Last week I had to contact my UK branch because somebody had made illegal charges to my credit card and whilst I could answer all of their security questions, I couldn't for the life of me remember my PIN and they refused to discuss any aspect of my account with me. Fair enough and thank you HSBC (or any other bank I deal with) for having good security is my view.

Good security, yes, I am all for it. So when I call them, and they put me though their own security checks, and I PASS, why is it that they could not assist me with anything?? They already confirmed that I was the account holder, yet, the phone banker was not allowed to do anything except tell me to come down to the branch. What is the point of having phone banking then?? It was one hoop after another. And this is just to close an account, I shudder to think how anal they would be should there actually be an issue that involved a transaction or other financial matter. Oh, and their fees are highway robbery.

Internet banking in Thailand is a fairly new phenomena, even for banks such as HSBC. I've seen HSBC in Thailand slowly adopt processes that have been standard in the West for many years but I think it's important to remember that the state of (say) HSBC operations in Thailand is not yet as sophisticated as it is in the UK, the USA or even their near neighbour Hong Kong where every aspect of the HSBC process works 100%.

I suppose my best advice to you is to live with the zero balance statements for the time being and the next time you are near ANY HSBC office, go in identify yourself and they will take care of the problem if asked.

Finally, as for fees: as stated earlier I have a Premier account that costs me nothing and this includes free banking and credit cards in Thailand, UK and Hong Kong - it also means that I have direct access to a person in each country who can sort out any problems that may arise. I can see on a single screen all of my accounts globally and I can transfer funds between them, on-line and in near enough real time, at zero cost - it also allows me to trade currencies online at margins that are so low as to not worth worrying about.

In exchange for all of that I have to lock away GBP 50k for a year at 3.5% (3% over base rate) and a very competitive rate of return.

Frankly, all of that seems like a pretty good banking deal for me personally and if you know of anything that is more cost effective, please post.

I was talking about PHONE banking, and in Singapore, not Thailand. Singapore is a 1st world country, so the fact that they could not accommodate ANY of my requests is more than just a little frustrating.

Live with the statements I will have to, until the next time I pass through Singapore. But it should not be this difficult to CLOSE an inactive account, with a zear balance. Like I said, I have sent TWO typed letters already, the second containing a copy of my passport. Like really, there is no reason why it should be this difficult. And as for me going into any HSBC branch here, to try to explain my situation, well, lets just say I have been here long enough to know that would be a blatant waste of my time.

You may have the Premier account, but for those that do not have the minimum account requirements, it will COST them money to maintain an account with HSBC. If your balance should fall below the ridiculous account minimum, you will be faced with a hefty fee, each and every month. Did I mention they charged me $70 USD to do a simple wire? This is almost double that of other banks, and is not justified. Plus, if you do not use them for the exchange conversion, they tack on a $25 fee. And why not use them for the conversion, well, check their rates and you will see why.

Glad you find them acceptable, but for me, I find their fees to be extremely high, and their procedures and policies flawed, IE. phone banking that have no authority to do anything. This is my own first hand experience with HSBC in Singapore, so I would not think that HSBC Thailand would surpass them in regards to the items mentioned.

Edit:

Looks like if you do not use them for the currency exchange, its $80 Sing dollars. How nice

Just found some NEW tariffs, looks like they can charge you up to $300 Sing if you do a wire and do not use them for the conversion. $300, thats NOT including all the other fees, and there are many others!!

Edited January 31, 2010 by Alter2

[chiang mai]

I'd rather have a bank that has stringent security than one that accepts telephone instructions on ad hoc basis, even if it does cost me some grief from time to time.

As I've said before I'm very pleased with HSBC. Last week I had to contact my UK branch because somebody had made illegal charges to my credit card and whilst I could answer all of their security questions, I couldn't for the life of me remember my PIN and they refused to discuss any aspect of my account with me. Fair enough and thank you HSBC (or any other bank I deal with) for having good security is my view.

Good security, yes, I am all for it. So when I call them, and they put me though their own security checks, and I PASS, why is it that they could not assist me with anything?? They already confirmed that I was the account holder, yet, the phone banker was not allowed to do anything except tell me to come down to the branch. What is the point of having phone banking then?? It was one hoop after another. And this is just to close an account, I shudder to think how anal they would be should there actually be an issue that involved a transaction or other financial matter. Oh, and their fees are highway robbery.

Internet banking in Thailand is a fairly new phenomena, even for banks such as HSBC. I've seen HSBC in Thailand slowly adopt processes that have been standard in the West for many years but I think it's important to remember that the state of (say) HSBC operations in Thailand is not yet as sophisticated as it is in the UK, the USA or even their near neighbour Hong Kong where every aspect of the HSBC process works 100%.

I suppose my best advice to you is to live with the zero balance statements for the time being and the next time you are near ANY HSBC office, go in identify yourself and they will take care of the problem if asked.

Finally, as for fees: as stated earlier I have a Premier account that costs me nothing and this includes free banking and credit cards in Thailand, UK and Hong Kong - it also means that I have direct access to a person in each country who can sort out any problems that may arise. I can see on a single screen all of my accounts globally and I can transfer funds between them, on-line and in near enough real time, at zero cost - it also allows me to trade currencies online at margins that are so low as to not worth worrying about.

In exchange for all of that I have to lock away GBP 50k for a year at 3.5% (3% over base rate) and a very competitive rate of return.

Frankly, all of that seems like a pretty good banking deal for me personally and if you know of anything that is more cost effective, please post.

I was talking about PHONE banking, and in Singapore, not Thailand. Singapore is a 1st world country, so the fact that they could not accommodate ANY of my requests is more than just a little frustrating.

Live with the statements I will have to, until the next time I pass through Singapore. But it should not be this difficult to CLOSE an inactive account, with a zear balance. Like I said, I have sent TWO typed letters already, the second containing a copy of my passport. Like really, there is no reason why it should be this difficult. And as for me going into any HSBC branch here, to try to explain my situation, well, lets just say I have been here long enough to know that would be a blatant waste of my time.

You may have the Premier account, but for those that do not have the minimum account requirements, it will COST them money to maintain an account with HSBC. If your balance should fall below the ridiculous account minimum, you will be faced with a hefty fee, each and every month. Did I mention they charged me $70 USD to do a simple wire? This is almost double that of other banks, and us not justified. Plus, if you do not use them for the exchange conversion, the tack on a $25 fee. And why not use them for the conversion, well, check their rates and you will see why.

Glad you find them acceptable, but for me, I find their fees to be extremely high, and their procedures and policies flawed, IE. phone banking that have no authority to do anything. This is my own first hand experience with HSBC in Singapore, so I would not think that HSBC Thailand would surpass them in regards to the items mentioned.

Edit:

Looks like if you do not use them for the currency exchange, its $80 Sing dollars. How nice

Just found some NEW tariffs, looks like they can charge you up to $300 Sing if you do a wire and do not use them for the conversion. $300, thats NOT including all the other fees, and there are many others!!

Let's not belabour these points, it seems as though you have made up your mind and that's fine. But let me just reinforce some of points that you seem to have not understood or have perhaps missed:

(1) you don't need to visit Singapore to sort out the problem, you can visit ANY branch in any country, just so long as you can be identified.

(2) Phone banking and internet banking are, from just about every perspective, the same thing - it's remote banking over a telecoms link where the customer is not present in person so there are very few, if any, differences.

(3) I don't pay any fees at all to HSBC, not in any country that I bank currently and I certainly don't pay commission charges on foreign currency exchange because I do it on-line and collect the cash in person.

(4) HSBC Singapore is ahead of HSBC Thailand in terms of adopting new processes but is still far behind Hong Kong in this respect.

(5) Yes, you've told us all several times that you paid $70 for a wire transfer.

[clinique]

try LLoysd TSB Asia in Singapore,,,,great stuff !!

[Alter2]

1)And if I did go into any branch here in Thailand, to tell them I want to close my Singapore account, you believe it would be as simple as that?? Like I said, I KNOW it would take up a considerable amount of time, just to explain what I want to do, let alone getting it accomplished. We are talking about a branch that is in ANOTHER country, and, as another poster has pointed out, branch to branch seem only to have the logo in common. I will not waste anymore time TRYING to close my account, and still hold the opinion that it should not be this difficult to do, but, alas, it IS.

2) They are NOT the same, with phone banking I speak to a rep, that CONFIRMS I PASS their security check first. Speaking to a human, one would assume that you can address issues that you can not with internet banking. If this is not the case, then I ask again, whats the point of even having phone banking if the rep can not help? I have dealt with other banks in other countries via phone banking, and have always had issues resolved, such as the beauty of speaking with a person, except when dealing with HSBC. This is my reality, dispute it or not, it happened.

3)You must be the only customer in the world, in all of history that get to bank for free. To think how generous and kind the banks are, you must be special. Or....they are making money from you and you dont know it?? Hmmm, ya think? Check what rate you get next time you do a currency exchange, online or not, they are getting their money from you wether or not you choose to believe it.

4) I have never dealt with HSBC Hong Kong, but, after my experience with them in Singapore, I would not touch them in ANY country.

5) Did I mention they charged me $70 USD for a simple wire? They did, and, but the looks of the tariff I posted, they could have charged me up to $300 Sing as a fee for not using them for the currency exchange. So, if I had used them for the exchange, you think they would do it for free?? Really, banks are not a charitable organization, they are some of the most profitable companies in the world, and they did not get to be so profitable by offering free services. Go ahead and down load their latest list of tariffs, your head will spin.

P.S,

You dont happen to work for them.....do you???

Edited January 31, 2010 by Alter2

[Alter2]

1)And if I did go into any branch here in Thailand, to tell them I want to close my Singapore account, you believe it would be as simple as that?? Like I said, I KNOW it would take up a considerable amount of time, just to explain what I want to do, let alone getting it accomplished. We are talking about a branch that is in ANOTHER country, and, as another poster has pointed out, branch to branch seem only to have the logo in common. I will not waste anymore time TRYING to close my account, and still hold the opinion that it should not be this difficult to do, but, alas, it IS.

2) They are NOT the same, with phone banking I speak to a rep, that CONFIRMS I PASS their security check first. Speaking to a human, one would assume that you can address issues that you can not with internet banking. If this is not the case, then I ask again, whats the point of even having phone banking if the rep can not help? I have dealt with other banks in other countries via phone banking, and have always had issues resolved, such as the beauty of speaking with a person, except when dealing with HSBC. This is my reality, dispute it or not, it happened.

3)You must be the only customer in the world, in all of history that get to bank for free. To think how generous and kind the banks are, you must be special. Or....they are making money from you and you dont know it?? Hmmm, ya think? Check what rate you get next time you do a currency exchange, online or not, they are getting their money from you wether or not you choose to believe it.

4) I have never dealt with HSBC Hong Kong, but, after my experience with them in Singapore, I would not touch them in ANY country.

5) Did I mention they charged me $70 USD for a simple wire? They did, and, but the looks of the tariff I posted, they could have charged me up to $300 Sing as a fee for not using them for the currency exchange. So, if I had used them for the exchange, you think they would do it for free?? Really, banks are not a charitable organization, they are some of the most profitable companies in the world, and they did not get to be so profitable by offering free services. Go ahead and down load their latest list of tariffs, your head will spin.

P.S,

You dont happen to work for them.....do you???

Just to add once again the things that HSBC could NOT do for me, with two sent letters, and one phone banking call:

-They could not / would not close my account.

-They would not cease sending me paper statements, citing the reason my account was inactive.

-They would not change the mailing address on the statements to prevent them going to a previous address.

-And, they would not reactivate the account for me.

15mins on the phone to find out all this. Just love that customer service!

Yet, when dealing with another bank, in another country, I can add 20K to my current line of credit in under 5 mins. Now THAT is what phone banking and customer service is.

[hawthorne]

I am also a very satisfied Channel Island HSBC user.

My only complaints to date are they will not transfer funds to one of the accounts I had in Thailand and I can not remember if it was Kasikorn or Bangkok Bank.

I tried to switch my accounts to another HSBC branch in another country so I could get the walk in service which I enjoyed. They could not switch because the other HSBC was not reqistered in the Channel Islands. It was very quick and I had an assigned representative that handled all transactions for me. When she or he left the bank I was notified of my new personal rep. It is nice when a major bank makes you feel special.

I did keep the account and enjoy the special rates on things like traveling insurance, half off movie tickets, so many little extras. I have had a few minor account problems and I just called my rep with my phone code and all was settled.

It seems they differ from country to country.

[chiang mai]

1)And if I did go into any branch here in Thailand, to tell them I want to close my Singapore account, you believe it would be as simple as that?? Like I said, I KNOW it would take up a considerable amount of time, just to explain what I want to do, let alone getting it accomplished. We are talking about a branch that is in ANOTHER country, and, as another poster has pointed out, branch to branch seem only to have the logo in common. I will not waste anymore time TRYING to close my account, and still hold the opinion that it should not be this difficult to do, but, alas, it IS.

2) They are NOT the same, with phone banking I speak to a rep, that CONFIRMS I PASS their security check first. Speaking to a human, one would assume that you can address issues that you can not with internet banking. If this is not the case, then I ask again, whats the point of even having phone banking if the rep can not help? I have dealt with other banks in other countries via phone banking, and have always had issues resolved, such as the beauty of speaking with a person, except when dealing with HSBC. This is my reality, dispute it or not, it happened.

3)You must be the only customer in the world, in all of history that get to bank for free. To think how generous and kind the banks are, you must be special. Or....they are making money from you and you dont know it?? Hmmm, ya think? Check what rate you get next time you do a currency exchange, online or not, they are getting their money from you wether or not you choose to believe it.

4) I have never dealt with HSBC Hong Kong, but, after my experience with them in Singapore, I would not touch them in ANY country.

5) Did I mention they charged me $70 USD for a simple wire? They did, and, but the looks of the tariff I posted, they could have charged me up to $300 Sing as a fee for not using them for the currency exchange. So, if I had used them for the exchange, you think they would do it for free?? Really, banks are not a charitable organization, they are some of the most profitable companies in the world, and they did not get to be so profitable by offering free services. Go ahead and down load their latest list of tariffs, your head will spin.

P.S,

You dont happen to work for them.....do you???

Indeed I do not work for HSBC and indeed I do not pay a single penny in charges to HSBC for any of their services that I use in three different countries - I do however have £50K committed for nine more months at 3.5% in the UK and when I want to use a service such as foreign exchange, I think about where it's best to do that and I transfer my funds accordingly before making an exchange - exchange rate margins are lousy in the UK but they're great in HK and transfers between the two location are also free.

[PattayaParent]

I'd rather have a bank that has stringent security than one that accepts telephone instructions on ad hoc basis, even if it does cost me some grief from time to time.

As I've said before I'm very pleased with HSBC. Last week I had to contact my UK branch because somebody had made illegal charges to my credit card and whilst I could answer all of their security questions, I couldn't for the life of me remember my PIN and they refused to discuss any aspect of my account with me. Fair enough and thank you HSBC (or any other bank I deal with) for having good security is my view.

I've found that dealing with my HSBC bank branch they are incredibly helpful but in dealings with HSBC credit cards they are an absolute nightmare.

The bank and the CC company are 2 different entities and are like chalk and cheese.

[yesdavy]

And on a practical front, I've been extremely pleased with HSBC Premier service and services for the past ten years or so.

Ditto.

I would point out that the HSBC Premier-account, which carries a requirement to maintain over-the-medium-term a balance of GBP 60,000+, does offer higher-interest and lower banking-costs in return, amongst other benefits.

It seems we are in agreement that HSBC Premier offers a pretty good service. As far as normal service I would think it is pretty similar with other banks in that it is very difficult to contact an actual person.

Regarding setting up an acct. it is normally easier if you have an acct at an onshore branch first, I think this goes for all the banks , presuming they have an onshore version you are eligible for.

If you are thinking of offshore also take a look at Standard Chartered - also very good service.

Gotta agree with these 3 posters even though I'm not rich enough to afford to have a Premier Account just a humble normal account.

As for not being able to contact anyone for 45 minutes, I think you mean 45 seconds. Contact with HSBC is never a problem although if I call outside of regular banking hours and get their call centre then they sometimes can have problems accessing my account details but jump though hoops to help in any which way they can.

I bet if you Google 'Lloyds Bank complaints', 'Barclays Bank complaints', 'Standard Chartered Bank complaints', 'ANZ Bank complaints' etc. etc you'll get a similar number of pages listed.

Good idea...so, Standard Chartered problems Google yields problems with Madoff, Dubai situation, not one consumer complaint on the first page, and complaints Google yields info on how to submit complaints, how to complain to them, this is 60% of the first page, then there are some people from India dissatisfied with a home loan and other stuff. Next, ANZ complaints google, the entire first page has no complaints from customers and lists topics like how to complain to them and customer service studies, and community groups complaining that ANZ has ties to illegal logging, and then there is a complaint on the second page by an individual that does not like their TV commercial. ANZ problems google yields problems with an acquisition of another bank, technical problems with MIGS module, ANZ profits slump, but no consumer complaints. No need to waste any further time on this....just two of your examples and you are 100% wrong so far on your assertion that your bank, HSBC, gets no more complaints than others. Now you are probably going to assert that if I kept looking long enough for a bank that would have so many complaints from dissatisfied customers as HSBC I would have found one. On that point, you may be correct.

[PattayaParent]

Lloyds TSB Complaints http://www.complaintsboard.com/?search=Llo...ints=Complaints

Citibank http://www.consumeraffairs.com/finance/citibank.htm

Standard Chartered http://www.complaintsboard.com/?search=Sta...ints=Complaints

Barclays http://www.complaintsboard.com/?search=Bar...ints=Complaints

ANZ http://www.complaintsboard.com/?search=ANZ...ints=Complaints

60 US banks and Credit Unions http://www.consumeraffairs.com/finance/banks.htm

Let me know if you need any more.

Edit: HSBC Bank Complaints = 8 hits http://www.google.co.th/search?hl=en&q...mp;aq=f&oq=

HSBC Bank Problems = 6 hits http://www.google.co.th/search?hl=en&q...mp;aq=f&oq=

Edited February 4, 2010 by PattayaParent

[pschef]

I cant see why TVisa ad says give up your local bank? what they should say, if you dont have 50k or above its going to cost you

[hawthorne]

I want to revisit my opinion of HSBC. I just found out that since I am no longer a residence of the country where my bank is I have to close out my account immediately.

I have never heard of such. Does HSBC of Thailand have the same requirement?

And I thought I had such great service, haha.

[cobra]

Back in early 09 when everyone was a afraid there was going to be a run on various banks, HSBC was a safe heaven to park money while things settled out, for no other reason than they were well capitalized compared to other institutions.

Just as a contingency I keep an account with them, never had any real problems and it's been pretty painless dealing with them over the phone.

[chiang mai]

I want to revisit my opinion of HSBC. I just found out that since I am no longer a residence of the country where my bank is I have to close out my account immediately.

I have never heard of such. Does HSBC of Thailand have the same requirement?

And I thought I had such great service, haha.

That's simply not true, you can change your residency status with HSBC, I do it on a regular basis for tax reasons. In which country were you asked to do this?