HSBC - Your opinions

[wibbles]

Originally posted by ncrossland

You don't really get it for free - everyone pays for the banks through the banks paying low rates of interest of any current account balances; I'm sure that there isn't a person on here that has never been charges some sort of fee by their bank; and through business banking which most certainly is NOT free - a few percent of EVERYTHING you buy is going to the banks in fees, which we all pay for in the end.

But low rates of interest are higher rates than if you keep your money at home. You don't actually pay anything. Like I said before they are a business that employ people and provide services..they have to make some money from somewhere.

[nick2]

Originally posted by wibbles

But low rates of interest are higher rates than if you keep your money at home. You don't actually pay anything. Like I said before they are a business that employ people and provide services..they have to make some money from somewhere.

 

But don't they make money by investing your money, or lending it to other people ?

[Cyclone]

so this 'necessary evil' lends you money to buy a house, gives you a line of credit to use for whatever you wish and maintains a national network to allow you to pay for things without carrying around lots of cash.

 

and you complain that they operate like any other business and exist to make a profit.

[wibbles]

Originally posted by nick2

But don't they make money by investing your money, or lending it to other people ?

Course they do but YOU still don't pay for it...you get your service gratis.

[nick2]

Originally posted by Cyclone

so this 'necessary evil' lends you money to buy a house, gives you a line of credit to use for whatever you wish and maintains a national network to allow you to pay for things without carrying around lots of cash.

 

and you complain that they operate like any other business and exist to make a profit.

 

I don't have a problem with them making a profit, of billions of pounds a year, it's the £30 charges for sending a letter, and £35 if you're a day late with your Visa card bill that winds people up, they seem to be taking the p**s.

[wibbles]

Originally posted by nick2

I don't have a problem with them making a profit, of billions of pounds a year, it's the £30 charges for sending a letter, and £35 if you're a day late with your Visa card bill that winds people up, they seem to be taking the p**s.

Those charges exist as a deterrent but people still overdraw. Lets not forget you are using money thats not yours and somewhere down the line it has to come from somewhere else.

As for other stuff I find banks actually don't charge you when you're only a day late..its when you drag it out for a week or don't have the decency to inform them before that something may not be right with your account.

If someone was to take money from YOU then you'd expect them to inform you BEFORE so why don't people show the same respect to a bank??

[nick2]

Originally posted by wibbles

Those charges exist as a deterrent but people still overdraw. Lets not forget you are using money thats not yours and somewhere down the line it has to come from somewhere else.

As for other stuff I find banks actually don't charge you when you're only a day late..its when you drag it out for a week or don't have the decency to inform them before that something may not be right with your account.

If someone was to take money from YOU then you'd expect them to inform you BEFORE so why don't people show the same respect to a bank??

 

You won't conmvince me they are my friends.

 

They are the hand-maidens of Satan I tell you !!!

[wibbles]

Originally posted by nick2

You won't conmvince me they are my friends.

 

They are the hand-maidens of Satan I tell you !!!

That is true also.

[StarSparkle]

Originally posted by Cyclone

I've used hsbc since i was 11 or 12 and apart from once using the telephone banking and having someone in India tell me that i was lying when I said i'd had a payrise i've never had a problem.

 

Then you're a very lucky man. Hope you never fall on hard times.

 

StarSparkle

[timo]

In my experience, banks are all rather similar. They become "listening" banks [to paraphrase an old advert for the then Midland Bank] when you have a large amount of money to invest, and not until. They are staffed by some good, hardworking people, but like everywhere else, there are some careless, useless individuals dealing with the public. The counter jobs have been deskilled to the point where they are closer to "blue collar" rather than middle class occupations. The emphasis on sales too has transformed the landscape, with counter staff trying their desperate best to sell customers visa cards etc, regardless of the customer's debit balance, so that they can gain important sales points. I am not suggesting that banks have EVER operated with a "social conscience", but now the situation is worse than it was before.

Re HSBC'S strategy of Indian call centre banking ; even the staff admit that it is not working. Last week, at great inconvenience, I had to go into the branch to ask for something that the Indian telephone clerk could not do. This was a very, very simple , "everyday" procedure/transaction. Then again, the organisation are noted for fatuous ideas- recall their infamous Crocker Bank fiasco of the early eighties...