This opinion is a fairly specialised one and I apologise to anyone who wanted a general view on HSBC's facilities. However I am 22 and like alot of people of my generation banking during your student years, and the first few graduate years, is very important.
I've had an account with HSBC since I was very young and felt they always treated me well. This opinion was cemented when I became a student and had dealings with other banks. Rather than regarding you as a valued customer who would (hopefully) be earning big money in the years to come, they only saw you as a penniless student who was only good for interest on your overdraft.
HSBC were very different. My young person's account had matured into a student account and although I didn't put my student loan into my HSBC account (due to convenience of another bank which was located on campus) I still received alot of the benefits.
Firstly their 'free gift' is better than other banks. Wereas you might be offered £50 to open an account (which soon gets drunk away in the student union bar) or a free CD player (which is worth less than the £50) HSBC gave it's new customers a 5 year young person's rail card. This card allows 1/3 off all train journeys over the next 5 years (mine is still valid) and so in theory is a limitless gift. I think alot of thought went into this as they realise many students will want to travel to see friends (old and new) around the country and so this allows them to do it more cheaply.
As well as this the over draft you were given was excellent. Mine was £1500 and although I didn't use it all it was reassuring to know it was there. Once graduated your account matures again into a graduates accouont, however this interest free loan remains, it decreases by £500 per year so it isn't until 3 years after you graduate that it's totally gone, allowing you to concerntrate on other debts.
The customer service was excellent when ever I needed to get in touch with them, also HSBC has an easy to useinternet banking system which would appeal to alot of students (and parents) as you can monitor your money more closely and also transfer cash quickly and easily in times of need.
I would whole heartedly reccommend HSBC to anyone thinking about student banking, they know what is important to people at this age and have tailored their accounts and services to match.
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Aug 14th, 2003
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