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HSBC

- Star Review

Last Updated: 9/24/2009

HSBC Star Rating

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We were coming in the home stretch in our online banking reviews, and we just had to see what HSBC offered. HSBC coins themselves as ‘the world’s local bank’ and we already knew they were a huge player in the finance game, so checking them out was a must. Besides offering a simple, yet intuitive website interface, we were excited to see the rest of their features! The 4-1-1 on HSBC is right below.

What's New with HSBC Online Banking?

1.35% APY on Savings Account - one of the highest savings rates in the country
No monthly fees or minimum balance requirements
Paperless Online Payment Account

Star Reviews Favorite HSBC Online Banking Feature:

We really like the fact that HSBC allows you to log into all of your financial accounts with their EasyView tool, not just HSBC accounts. Just set up your EasyView account, add your non-HSBC accounts one by one and then you never have to log in individually again. For those of you who hate hopping from site to site, this can be a priceless time-saver.

About HSBC Online Banking:

Serving more than 3 million customers across the globe, HSBC is one of the leading financial company's in the world. Contrary to what many believe, HSBC is not headquartered in the US. They are actually a London-based company with a rich global history. The company continues to grow today and online banking is a part of that expansion.

Navigating & Using the HSBC Website:

While other online banking sites seem to play the "let's boggle your mind and see how many links we can throw at you on one page" game, HSBC was refreshingly easy to navigate. All of their traditional banking services are located on little tabs at the top of the site's frame and then, off to the side where it's very easy to see, is the link to the online banking services.

When you click the HSBC online banking link you'll be taken to a page where you select the country you are logging in from (HSBC is, after all, a global company). Then it's off to the appropriate page for your region's online banking services. Once there, you can sign up for HSBC's online banking, log in to the site, read the FAQs or even peruse an online banking demo – all from easy-access links.

Just be prepared to do double duty if you're not already an HSBC customer. If you don't yet have an account with HSBC you're going to need to set one up before hitting the online banking page. Only current customers can sign up for online banking services and it's not an all-in-one application. Fortunately, getting set up for an HSBC account is also easy. Just visit the "checking" tab located in the navigation menu (or any other banking service tab, if checking isn't what you're looking for) and you'll get where you need to be. It'll take you 10 to 20 minutes (depending on how fast you type and how quickly you read) to open an account. Once you're set up, you can return to the online banking page and get registered there.

What HSBC Online Banking Offers:

View your account balances, transactions and purchases online
Pay bills online
Transfer funds between HSBC accounts
Business Banking
1.35% APY on online Savings Accounts
0.85% APY on Online Payment Accounts
View online e-statements

HSBC Online Banking Fees:

HSBC does not charge for its online banking services and even HSBC's online bill pay services are free. That being said, however, there are costs associated with many of the HSBC accounts you can use with online banking. The costs for these products and services (money market accounts, checking accounts, credit card accounts, etc.) vary.

$3 monthly maintenance fee for Basic Banking accounts (no minimum balance requirements)
$0 monthly fee for Student Checking accounts (no minimum balance requirements)
$0 monthly fee for Free Checking accounts (no minimum balance requirements)
Free online bill pay
Free ATM withdrawals from HSBC ATMs

HSBC Customer Support:

HSBC offers customer support via an online FAQ, phone and email. The FAQ section offers answers to basic questions like "What is Internet banking?" and "What can I do with Internet banking?" If your questions are more specific in nature, you'll need to contact the company. That's when your email and phone options kick in.

The email we sent to HSBC was answered within 2 business days, which is a bit slow for an online banking service but still falls within reasonable parameters. If you need an immediate answer to your question, however, get ready to play "let's beat the automated system" when HSBC's auto-attendant starts asking you for your account numbers (unless, of course, you already have an account).

When we finally did get through to a rep, she was very helpful and answered our questions quickly. In today's world of rushed and rude customer service, the team at Star Reviews always likes to hear "Is there anything else I can help you with?" or "Is there anything else I can do for you?" HSBC didn't disappoint. The rep was very cordial and didn't rush us off the phone.

Upside:

Free online banking, easy-to-navigate website, access non-HSBC accounts from HSBC website.

Downside:

FAQ isn't as extensive as we would have liked to see.

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Does HSBC trust their website?

by nickbell who has written 1 reviews and is trusted by 0 members

I am an HSBC credit card customer. Recently I moved house so I needed to change my address. I logged onto HSBC's Credit Cards online, click update profile, and updated my address. Sounds pretty normal! WRONG!

I then got a phone call 2 days later from HSBC's Security Group saying there had been Fraudulent Activity on my account and my card was now on hold. Eventually after 8 phone calls I got out of one of the customer service representives that the 'fraudulent' activity had been an address change.

I did this through their so called 'secure' website. If they can't trust it, why should we as consumers.

As a side note, a week later my card is still not active, a week later they still won't listen to me that I changed my address and they are doing their 'own' investigation. Wouldn't I be the best person to validate this kind of thing.

I would avoid HSBC.

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