I opened with HSBC bank several years ago as they were the only bank to offer personal foreign currency accounts. All the other major banks only had business foreign currency accounts. I have used HSBC as my main bank for foreign currency transactions, day to day banking and for savings. So far I find them quite reasonable to deal with. Their interest rates are competitive, fees are low and they will open and close accounts for you with ease over the counter. The only downside is that they do not have many branches in Perth and their website is often a bit flakey.
I researched to find the best rate with a bank that I felt I could trust. HSBC were the best option for me. They provide me with updates, statements and reminders via email and text message. I have the flexibility to pay off additional amounts and reduce the term of the loan.
Only one contact number which goes to an off shore call centre full of people shouting. Staff member there was unable to assist me with even basic account information. Difficult to transfer money out of the account, without downloading a mobile phone app or waiting to receive a secure key device, none of which was explained in the account set up process. I felt very insecure about dealing with this bank due to the lack of customer support.
I originally banked with Bank of Queensland (BoQ) however after a horrible experience with them I switched to HSBC. Best banking decision of my life. I had banked with BoQ for 23 years, even getting a mortgage with them. After a marriage break up I purchased a new property with my son, however after some consideration I wished to refinance so I could pay him out, however BoQ refused to do so because of my age, 63. I requested for them to put the reasoning in writing and they refused. After this I decided to switch to HSBC and the difference was obvious. They were so easy to deal with, they were extremely straight and honest when talking to me and allowed me to refinance. The best part is that I am now saving about $97 a month just by doing nothing. I want to give a big thank you to HSBC for having faith and seeing that a fit 63 year old man earning decent money is still a worthwhile person. As for BoQ, you have lost all faith from me and I would not recommend you to anyone.
Well we have mortgage from HSBC and that is why we went with them. Prices are reasonable, yet not the best on the market and you will hardly ever hear from them unless there is a change in Product policy or you make a claim. They are very kind when you get in touch and try to help, not always successfully but you have to give them credit for trying.
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