... I was open to most things, and so when the opportunity came up to spend a day on placement at HSBC (and skip school in the process) I jumped at the chance. It was a fun day – we got to play with lots of money, and stamp cheques and watch videos, and most importantly, we got to meet all ... Read review
Advantages: Great service, online, phone or in person banking Disadvantages: As usual, low interest rates for current accounts
...a day on placement at HSBC (and skip school in the process) I jumped at the chance. It was a fun day – we got to play with lots of money, and stamp cheques and watch videos, and most importantly, we got to meet all the staff, most of whom were lovely. At the time I was unhappy with my current bank and looking for a change, so decided to open an account here.
A year and a half later, having just got my A Level results, which ... ...port of call would be HSBC once more, if only because it would be the easiest place since I already had an account with them, and so didn’t need to provide proof of my address and other mundane details.
** What You Need **
To be eligible for an HSBC student account, you must be 18 years old or older, and be enrolled on full time undergraduate course in the UK that will last at least 2 years. This course should ... more
When I was at school, I used to change my mind regularly as to what I wanted to be when I “grew up”. I was open to most things, and so when the opportunity came up to spend a day on placement at HSBC (and skip school in the process) I jumped at the chance. It was a fun day – we got to play with lots of money, and stamp cheques and watch videos, and most importantly, we got to meet all the staff, most of whom were lovely. At the time I was unhappy with my current bank and looking for a change, so decided to open an account here.
A year and a half later, having just got my A Level results, which confirmed that I was off to UMIST (with 22 UCAS points to spare….), I needed to set up a student account, and so it seemed only natural that my first port of call would be HSBC once more, if only because it would be the easiest place since I already had an account with them, and so didn’t need to provide proof of my address and other mundane details.
** What You Need **
To be eligible for an HSBC student account, you must be 18 years old or older, and be enrolled on full time undergraduate course in the UK that will last at least 2 years. This course should be a Masters, Bachelor, HND, HNC, NVQ Level 4 or similar – A Levels, GNVQs, SQA awards etc do not qualify. The only exceptions are disabled students who only need to be on a part time course, as long as they are also receiving a Disability Student Allowance.
To open an account you need to already have a normal HSBC account, or be eligible for LEA support (which most students are). You also have to provide proof of acceptance onto a qualifying course and, if you don’t bank with them already, some ID – passports and driving licences are both suitable, as are birth certificates, utility bills and so on. You need one month’s bank statements if you currently bank elsewhere, and proof of Disability Student allowance if applicable. Along with these, you need a completed application form you can pick up in the branch, or request from the website.
You also have to agree that they will be your main bank, and that you will pay money in regularly – a loan or your wages or, in my case, both.
** What You Get **
The current freebies are a choice between £50 cash, and a 4 year rail card – some of the most generous options around. As well as these, you get standard banky things including:
An interest free overdraft, which increases from £750 in year 1, up to £1500 in year 4 and £2000 in year 5 if applicable.
A fee free credit card (your choice of Visa or MasterCard), with a £500 limit.
A Switch debit card which also doubles as a cash card here and abroad, and a cheque guarantee card. You can use Barclays and Natwest cashpoints free of charge, and also obtain cash from any LINK ones, although there may be a charge for this.
A cheque book and personalised paying in book.
Interest while in credit (if you can call 0.1% “interest”).
Free telephone and online banking.
Student counsellors in near-uni branches, who are most friendly compared to stereotypical bankers, and who offer advice on money management etc.
1% commission charge on foreign currency – instead of the usual 2%.** My Experience **
So far I have been pretty happy with the service I receive. One thing I like is that even when you ask them to bend the rules, they don’t say no instantly – instead they have a chat and look at your account history before making a decision. I needed to go outside my overdraft limit one day, but after they looked at my transactions, saw I was being paid into this account regularly and had never been over my limit before, they declared that it wasn’t a problem, and wavered the usual fine and interest charged. Similarly, I wanted to increase my credit limit on my MasterCard before I went to New York, so I rang them up to ask what they could do. They immediately said I could up it to £1000 (I stuck with £750 though, since an extra £500 plus me in New York shops would have been a bad mix) because I was paying the balance off in full each month by direct debit, and usually stayed well under my limit.
My banking life with them has not been prefect, however. Last year my purse was stolen from a decidedly dodgy Gay Village bar (which begs the question of what we were doing there in the first place) just before Christmas. They arranged for new cards to be sent to me, but these somehow ended up at the wrong Oxford Rd branch, despite me having given them the full address of the one I wanted them at. It took 15 minutes of arguing at my local one before they decided that they might be down at the Manchester University one, and another 10 minutes before they agreed to phone and check – their initial suggestion had been that I just pop over and see. It’s not that near, I was on my way to work and, being Manchester, it was raining, so it wasn’t the best idea I’d ever heard. More recently (Saturday, to be precise), I went in to the branch near work to find out how much commission they’d charge me on the US$ cheque I wanted to put into my account. None of the staff members knew, so they had to dig out their battered guide before they could tell me that it would be £6 for “normal” people, but they weren’t sure how much for students. Useful then.
Overall though, I am happy with HSBC, and at the moment see no reason to change. They’re much more efficient than RBS and Barclays in my opinion, and I can’t see any reason not to chose them to start off your student life with.
Advantages: Good for students Disadvantages: Might not be as good for workers
...mainly on my experience with HSBC as a student bank, although I am now a graduate. I cannot comment on their service for those in employment because I am not.
I first joined HSBC in 1998, when I became increasingly frustrated with NatWest. NatWest had extremely dodgy terms regarding student overdrafts, meaning that you could have an agreed overdraft one day and they could take it back the next because their limits are extremely temporary, usually ... ...So across the road to HSBC I went. They asked for 3 months worth of statements (because I was already 2 years into my degree course and they wanted some indication of my spending patterns), as well as proof of my identity and permanent address - namely a passport (you could provide a driving license if you have one), and a bill/grant letter. You may also have to prove that you have been accepted into a University so keep hold of that acceptance letter.
...
pixiedon 12.11.2002
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Ciao members have rated this review on average: very helpful Review of HSBC Accounts
Advantages: AN ALL ROUND GREAT DEAL FOR STUDENTS/GRADUATES Disadvantages: NONE
...my advice check out what HSBC has to offer you. They offer a first class service and are supportive during some of the most difficult (financially) years of your life.
MY HISTORY WITH HSBC
I chose HSBC for my student bank account when I started my degree and I feel it is the best thing that I ever did. The facilities/services that they offer are the best on the market. They provided me with an INTEREST & FEE FREE overdraft that gradually increased ... ...5th year+ £2,000 interest-free
HSBC will also offer you a credit card & contents insurance at an incentive rate.
Many larger universities will also have HSBC card machines on campus & have specialist student advisors offering you guidance throughout the years. You will also find that all the main banks will attend your university Freshers Fayres to try and sell you their products.
GRADUATE SERVICE
Interest-Free Overdraft:
1st yr after graduation: ...
charis18uk 13.07.2001 (13.09.2004)
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Ciao members have rated this review on average: very helpful Review of HSBC Accounts
Advantages: best student service ever Disadvantages: lack in benefits in certain areas
...is the bank for you. HSBC has long been trusted by students especially from overseas because of their great service. But, since a lot of students took advantage of their service, at the moment, they are pretty strict with their policies nowadays. However, for me, they're still the best in terms of personal banking.
I've been a customer of HSBC for 3 years now, and all I can say that their service is excellent, second to none. Their customer service ... ...a call regarding a credit card problem, and they sorted it out within minutes of the call.
They also have the best interest rate compare to other high street banks. Their low fees on credit cards are a source of relief to most students. Not to mention the interest-free overdraft facility that they provided, which personally for me is indeed very helpful in time of crisis! :)
I also use their phone banking and internet banking, and so far, it's ...
pakalang 07.12.2000 (18.01.2001)
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Ciao members have rated this review on average: very helpful Review of HSBC Accounts
Advantages: Straightforward, helpful. Cash machines everywhere. Disadvantages: None yet - But i will let you know!
...had a problem with my HSBC account, the staff are without fail friendly and helpful - especially when you are a skint student worried about going over your overdraft! I have found their student banking service excellent. The most useful part I have found is the Switch card - also, they do automatically approve you for a Mastercard which is useful because it means you get a credit rating.
HSBC gives first year students a £750 overdraft, which increases ... ...The main attraction of the HSBC student service was the free 4 year (yes, FOUR YEARS!!!) railcard. This is worth £80 to start with. This can be a lot of money - I reckon it's saved me AT LEAST £70 this year! Other banks might give you cash - usually about £50, but it just disappears into your student loan or other money, and you just forget about it. The rail card is definitely the best incentive I've ever seen. Another huge plus was the forms I ...
crowbar2000 09.02.2001
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Ciao members have rated this review on average: very helpful Review of HSBC Accounts
you really cant knock HSBC's 16-18 account, they will give you a cheque book and a solo card without any hassle which is great. the solo card works as a cash card as well, which has a P I N number to access it. Cheques go through the system quick, both ways, ususally within 24-48hrs, this has been done always without any hassle, solo card hasnt failed me once. When paying for goods in shops, the solo card checks your balance before allowing the purchasing ...
smoran 14.08.2000
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Ciao members have rated this review on average: very helpful Review of HSBC Accounts
Efficiency of service
Competitiveness of char...
Online - Content/organi...
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Advantages: You get a debit card and you get student bonuses Disadvantages: Low interest rate.
well when i was younger i opened a HSBC livecash account which seemed amazing as i got a whole load of free stuff including some CD plus i got like a whole 12p interest a month on my account which seemed amazing at the age of 12.
So now that im 17 im now on the rightrack account which in all honesty is not that great the interest rate is really low 0.1% which means i get about 1p interest a month when my friends, who have accounts with other banks are getting 3% interest or even more! It seems like the HSBC try and get you with them at a young age and then rip you off!
The free stuff: well yes i guess that is a slight benifit, they do give you free things now and then like i got a free driving lesson for my birthday although i think that's something quite a lot of banks do.
One service that i do use with the HSBC is online ...
nick20022002 22.06.2006
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Ciao members have rated this review on average: helpful Review of HSBC Student
Advantages: great simple banking Disadvantages: none
I opened me a bank account with hsbc 5 months ago now on line, it was simple realy, just fill out your details and wait for your card to arrive, i opted for there basic account to have money paid into, i didnt want anything fancy as all i wanted it for was to pay money into from the internet sites like this one.
Customer services are great and very helpful, there is always a friendly face in there branch when ever i go in and not too many people waiting to be served as they have lots of machines to deposit and with draw money.
Cheques take 5 working days to clear in my account which is slower than my usual bank but average for most.
For a basic account where you can access your cash anywwhere at any cash point i would choose hsbc. ...
danniell 08.05.2008
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Ciao members have rated this review on average: helpful Review of HSBC
I had an HSBCaccount when I was young (then known as Midland)and I remember having all the free kiddy stuff,money boxes and things to colour.When I moved away from home there wasnt a HSBC near so I had to open a current account with another bank.Now I have changed over to HSBC I couldnt fault it,I have a joint current account with my partner and we can get access to our money 24 hours a day.The machines chave no withdrawal charge and statements and balance enquiries are really easy to obtain.At night the machines are safely positioned inside the bank and to enter you just swipe your card and I feel its much safer than withdrawing money from a machine on the side of a street.At our local branch the staff are always helpful and can sort out any problem or enquiry I have about our money and my partner still has his student overdraft limit ...
beckym 06.09.2000
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Ciao members have rated this review on average: helpful Review of HSBC
