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Why people hate HSBC so much ??? What is your bad experience???

#5
No idea. The only branch that's been a little bit hesitant in my experience was the HK one. and that's because the swarms of s**t applications that they get.
My HSBC account in EG got me access to their worldwide network at extremely low costs and they were nothing but fantastic so far.
 
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#6
azb1 said:
Why people hate HSBC so much ???
Click to expand...

You have never used them before I assume? Once you get a problem good luck.

I guess all these reviews of different HSBC entities in different countries are fake some would argue.....lol smi(&%

https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/www.hsbc.com.hk
https://www.trustpilot.com/review/www.hsbc.com.vn
https://www.trustpilot.com/review/us.hsbc.com
azb1 said:
What is your bad experience???
Click to expand...

Everything
 
#7
Well, I do not believe in Trustpilot so much – but as HSBC is concerned, I would say: It is a BIG bank, really big – this is the first advantage and the first problem. As per personal experience of my close business partner, it behaves like (almost) any other big corp: a) everything is “managed by processes”; b) the processes are not coordinated well; c) you can't find a human who is able to solve a problem, if it appears, or at least it is impossible to talk to such a human directly...
But YMMV.
 
#8
Martin Everson said:
You have never used them before I assume? Once you get a problem good luck.

I guess all these reviews of different HSBC entities in different countries are fake some would argue.....lol smi(&%

https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/www.hsbc.com.hk
https://www.trustpilot.com/review/www.hsbc.com.vn
https://www.trustpilot.com/review/us.hsbc.com


Everything
Click to expand...
Ok my experience with them was some 15 years ago with the branch across the corner somewhere in the UK, so I suppose it doesn’t count.
 
#9
The HSBC Group is a big animal but there are different experiences one will have in each unit below.

HSBC Wealth & Personal Banking
HSBC Commercial Banking
HSBC Global Banking & Markets

Most people here will be using HSBC personal banking which is a joke imho. My experience was with their Wealth & Personal Banking division was in Jersey and UK. Everything the bank offers sounds good on paper but they are a nightmare to work with long term for anything cross border related
 
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#10
JohnnyDoe said:
Ok my experience with them was some 15 years ago with the branch across the corner somewhere in the UK, so I suppose it doesn’t count.
Click to expand...
The experience I was quoting above is ~5-7 yeard old; but I do not think that it have changed; usually big corps are very inertial...
 
#11
Been a customer since about 2010 when spending most time in China. Used them in CN, CZ, HK, MY, SG, Jersey and maybe a few others. They are very bureaucratic, but also stable. I usually trust them with larger amounts I wouldn't want to put on a EMI.

The SG branch was best so far. Some things to like in general:
  • They help you open accounts in new countries
  • At Jade level you get a fairly competent contact person that will take care of everything and help navigate forms, etc.
  • Free Global transfers between your own accounts
  • Mobile apps have been getting better recently
  • Jersey gets you access to the London stock market, SG and HK to SG, HK and US markets. Not as good as IBKR, but good for diversification.
  • SG has a multi-currency debit card now with some cashback.
 
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#12
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#13
azb1 said:
Do HSBC JADE customer also face the same issue ???
Click to expand...
for the majority of people, no. but it depends on the RO that's assigned to you.
As I said, HSBC HK was so mainstream in the offshore world and it attracted a lot of attention, swarms of literal garbage went there to open accounts with them, some got accepted for god knows why, and later the HK branch started craking down on these accounts, that's why you find all of these complaints. A lot of them are valid critisims but I also bet that alot of them were involved on whatever BS so HSBC hammered them hard.
Don't go with HSBC HK at first, try with different branches that are not that mainstream and then get access to their global network.
My 2 cents but you do you!
 
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#14
#16
MiddleEuroAsia said:
Nah, they just want the US address, and others would open an account fo you if you have a ITIN which is not hard to get.
Click to expand...
HSBC US doesn't seem to require even US address. That looks like you can open a fully operational US bank account remotely, without having any US ties.

For international customers, please check these additional requirements​

I am eligible if:
  • I am not a U.S. Citizen OR
  • I don’t have a U.S. Social Security number OR
  • I’ve lived in the U.S. for less than 1 year
I'm applying for an individual Premier checking account (not joint account)
I'm at least 18 years of age
I am currently located in one of the following countries (subject to changes)
 
#17
BlueMist said:
HSBC US doesn't seem to require even US address. That looks like you can open a fully operational US bank account remotely, without having any US ties.
Click to expand...
I know, I have an account with them. I was saying that other banks won't require SSN but just your address. like for my citi account for example, they only required US address, it doesn't matter whether it was an airbnb, hotel, they accept it.
wells fargo in dallas TX, wanted an ITIN + a US address.
But when it comes to HSBC, you can get access to their global network pretty easily if you have a premier/jade account with them elsewhere, it's the same accross most of their branches and more or less the same if you want a non-resident account in EG.
 
#18
MiddleEuroAsia said:
I know, I have an account with them. I was saying that other banks won't require SSN but just your address. like for my citi account for example, they only required US address, it doesn't matter whether it was an airbnb, hotel, they accept it.
wells fargo in dallas TX, wanted an ITIN + a US address.
But when it comes to HSBC, you can get access to their global network pretty easily if you have a premier/jade account with them elsewhere, it's the same accross most of their branches and more or less the same if you want a non-resident account in EG.
Click to expand...
I don't as I don't like HSBC, however the US banking offer got my attention. I can't seem to find the way to open account on Citi US website as easily as on HSBC US. The HSBC offer is tailored specifically towards foreign non residents, while Citi US is not.
 
#20
BlueMist said:
HSBC US doesn't seem to require even US address. That looks like you can open a fully operational US bank account remotely, without having any US ties.

For international customers, please check these additional requirements​

I am eligible if:
  • I am not a U.S. Citizen OR
  • I don’t have a U.S. Social Security number OR
  • I’ve lived in the U.S. for less than 1 year
I'm applying for an individual Premier checking account (not joint account)
I'm at least 18 years of age
I am currently located in one of the following countries (subject to changes)
Click to expand...
yes you can open us bank account if you have premier in these countries . i don't like hsbc here particularly because they are arrogant , the male bankers are mostly beta men and females act like they are going to party or night club . the service given is bad .
 
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