Advantages: Competitive, wide range, professional. Disadvantages: Not a seamless service. Lack of branches.
I have banked with HSBC for the past few years and I must say that I am very happy with the service I have received so far. I will go through the products I have with them and let you know my thoughts!
Student Account
The student account is a really good account in comparison with the current market - some banks make the huge overdrafts the selling point, but HSBC are striving towards being a responsible lender, and they have all overdrafts based on status. Standard limit for a first year is £1000, 2nd year is £1250, third is £1500. Based on status, you may get more than those limit but they are charged at 3% above the Base Rate (currently 5.25%). I also find HSBC to be very fair with default charges - this their "Fair Charges Policy": 1) you will not have to pay fees for being overdrawn by £10 or less. 2) You will not have to ...
shazilrock 05.02.2007
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Ciao members have rated this review on average: very helpful Review of HSBC
Advantages: Efficient, reliable and reasonable value Disadvantages: No obvious problems
expected: they should not be anything surprising. Nonetheless, there are sectors of the market where the risk is not just of poor returns but of actual losses. Over the long term one can perhaps ride these out, but it's vital to remember that the risks are such that one can lose money on equities.
Now, there are two things that one can do to limit these risks and their consequences. The first is to adopt the principle that one should never invest more in these investments than one is prepared to lose. So, something which is far from guaranteed may default and pay out nothing or very little: if you don't put in money which you can't afford to lose, you won't be finanicially crippled, whatever happens.
Second, however, you can diversify, and that is where unittrusts come in. Instead of risking your capital on a small selection of equities ...
Advantages: Great choice of accounts, helpful friendly staff Disadvantages: None that spring to mind
they are right for me- there quite a few and surely something to suit everyone.
They also have bank accounts for children, students, those who are not resident in the UK. For those who have a high income there is also a premier account where the account holder has a relationship manager they can phone and meet to discuss their money and banking needs etc etc- sadly I do not fall into this catagory but I know a bit about it as my parents do. They also give me really good feedback about the service they receive.
I also have card guard. This is great... for a one off payment of £20 a year you can register all you cards, passport etc and if your bag or wallet ever got stolen you ring one number and all of your cards are cancelled. It also insures your bag, wallet, replaces keys and passport, money if you're way and are stuck. It ...
Lisab3410 05.03.2008
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Ciao members have rated this review on average: very helpful Review of HSBC
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