I have recently changed bank accounts from Natwest to HSBC (after 12 years with Natwest) and I felt it only right to give them a pat on the back for what proved to be a fantastically smooth switch (excuse the pun).
The background is that after a long trouble free realtionship with Natwest they let me down when I needed them the most as I got into financial difficulty. Despite a perfect banking history, Natwest refused me a loan. I was actually shocked because I almost took it as a given that I would be ok.
Anyway, I digress, so back to HSBC. I approached HSBC for the loan instead and after some deliberation they agreed on condition that I switched bank accounts
to bank with them and close my Natwest account. I was very reluctant to do this (better the devil you know and all that) and I was very worried about how if would affect future references for mortgages (has no detrimental affect) and the like. I was also daunted by the hassle of changing all my direct debits and standing orders to this new account.
On applying for the loan I was allocated a personal banker. I had expected allsorts of harrowing lectures about debt to follow. To my relief and surprise I was never made to feel small because of the debt problem I had and HSBC treated me with great respect and courtesy throughout the process. I can honestly say that I felt on a one-to-one level with them.
My personal banker took care of the administration of the new account and kept me informed, almost daily, of how everything was progressing. I am sure my postman thought I had bought shares in HSBC due to the amount of mail I received from them at the beginning.
Firstly I was sent the application form for the new account (with most of my details already filled in) which I merely read, signed and sent back. One week later I received my new card and cheque book in readiness for the opening of the new account. HSBC contacted Natwest for details of the standing orders/ direct debits to transfer and all I had to do was check the list and cross out any that were no longer valid.
Incidentally, Natwest having received the request for information from HSBC, sent me what can only be described as a begging letter. Basically saying that they were 'loathe to lose good customers' and would I contact them at my earliest convenience to ensure that there was nothing they could do to help me not switch accounts. I laughed because talk about closing the stable door after the horse has bolted. I went to them for help in the first place and where were they then?
So, the switch over day arrived and I was waiting with baited breath to see what would go wrong...nothing did. I couldn't believe it. My personal banker even phoned to say that my salary had arrived in the new account and that everything had gone smoothly. My direct debit companies were all informed by HSBC and all transactions were set up successfully. I didn't have to do a thing! They even set me up online within minutes of me asking.
The greatest benefit I find with HSBC is that I can go into any Branch to maintain my account. No more do I have to post cheques to my home bank branch or travel half way up the country just to go and see my Bank Manager. It used to irritate me but I thought that was just how it was with all banks. I now wish I had switched earlier because I could have saved myself no end of hassle.
Another good point is that every HSBC Branch I have visited since having my new account has been exceptionally good from a customer service point of view. Every single query I have had has been answered promptly and professionally and more importantly, in a jargon free fashion.
I work in retail, dealing with the general public every day so I know just how hard it is when you have a customer who is forever asking inane questions. I am used to going to restaurants and assessing their service levels but it had really never crossed my mind that we should expect great service from banks too. Which is why I was so impressed when I was on the receiving end of it.
To conclude, let this give confidence to anyone worrying about switching bank accounts to join HSBC. I never thought it would be so easy.
How helpful would this review be to a person making a buying decision? Rating guidelines
Advantages: Good In-branch facilities, Lots of ways to bank, Lots of branches Disadvantages: Queues, Interest Rates don't stand out from other banks, high charges
Deru 24.04.2006 (24.04.2006)
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Ciao members have rated this review on average: very helpful
Review of HSBC
Jun 8th, 2002
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