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HSBC Savings account customer reviews

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Based on 331 savings account reviews as rated by the Mozo community.
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Recent HSBC savings account customer reviews

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  • HSBC Savings Account

    HSBC offer competitive savings product and service

    HSBC offer some great savings products, with the HSBC Bonus Savings Account offering one of the best ongoing interest rates in the market at the moment. I like that you don’t need to have a transaction account for this product or additional requirements to transact. Also the flexibility of having no minimum opening balance and bonus interest paid up to $5m makes HSBC a bank I would recommend as being in touch with what customers are looking for in a savings product. It’s also lovely that there are multiple branches available if needed but if not, that the web and mobile experience is user friendly. I have called their customer service line a few times and received an excellent response as well, so overall I think HSBC have their finger on the pulse.

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    Susan, New South Wales, reviewed 4 months ago
  • HSBC Savings Account

    HSBC AUSTRALIA loses the money in bank transfers

    DO NOT open accounts with this bank - there is no accountability, no safety and no ability to provide any customer support via its dreadful offshore email and call centres, etc. All you get are AI bot-style responses. Very dangerous and dreadful circumstances for your money indeed. You will literally suffer a mental breakdown. I transferred $20, 000 euros from HSBC Australia to my bank account in a Hong Kong bank and the money is now lost. After one week, the transfer of euros has not arrived. I'm thinking I have to call the Australian Federal Police because I cannot use any HSBC Australia mechanisms to find my money.

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    Izzy, South Australia, reviewed 5 months ago
  • HSBC Savings Account

    Amazing customer service at the HSBC bank.

    Customer service at the HSBC bank is excellent. As I am in my 70's it is important to me to have staff that could help me set up my savings account and debit card, as well as explain everything in simple layman's terms. . Wing not only sent up my bank account and debit card, he explained everything to me And made sure I understood. He also put an app in my ancient cell phone. . Jom who also works there has also been helpful and caring. The receptionist is very sweet. So glad I decided to change banks. I recommended the bank to my friend and he signed up online.

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    Laya, New South Wales, reviewed 8 months ago
  • HSBC Savings Account

    Awful customer service

    It takes about 45 mins to open an account. They treat customers like criminals, so rude and unprofessional. Always issue to get through to them over the phone

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    Sara, New South Wales, reviewed over 2 years ago
  • HSBC Bonus Savings

    Good interest

    We chose this bank because the interest was higher than our previous bank.

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    Joze, Western Australia, reviewed almost 3 years ago
  • HSBC Everyday Savings

    HSBC Serious Sav account seriously not transparent

    Serious Saver said it was offering 2 percent followed by variable rate after four months. However, it turns out the 'introductory offer' (only for those who don't have an account with them) is also variable. Hang on, if you offer an 'introductory offer' that is variable, say in clear terms that it may vary from the day you begin banking with them. That's what happened. I put a large amount in this account but in less than a month, the rate dropped 0.5 %. And it could go down again, and again. An 'introductory offer' is a clever disguise for HSBC. I also put some money into the Macquarie Savings account offering a 'welcome rate' (again for those who have no prior account with Macquarie). The difference is, the 2 percent is fixed. HSBC needs to be more transparent.

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    Jo, Victoria, reviewed over 3 years ago
  • HSBC Everyday Savings

    New app is better.

    I opened this account to get the honeymoon interest rate and bonus $100. I had heard that the app was atrocious but they’ve put out a new Australian app which is much better. The process to open an account is a bit clunky, but I got there in the end.

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    Caitlin, New South Wales, reviewed over 3 years ago
  • HSBC Savings Account

    Shockers.

    Went to close my account today in person due to the balance of my account being in excess of online closure limits but more importantly because I found another bank with a much better interest rate. Was treated like a pariah, they wouldn't accept my uploaded drivers license, which is a service provided by the Australian Government and is accepted by anyone and everyone else. Have never had a problem before. In this pandemic environment and current technology, they still wanted the hard card so they could handle it and possibly infect me which meant I had to go home and back again so they could do so. The account I had did not pay my account the quoted interest rate, they had a million excuses, they talk like robots, couldn't give any reasonable explanations to any of my questions, don't know what they are talking about and this included branch staff members and online customer service. They quoted incorrect fees versus what they actually charged me, yes they charge you to take your money out. I could go on and on but in short, I have had many accounts with many different banks, HSBC is without a doubt the worst. Highly recommend you go elsewhere.

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    Fred, New South Wales, reviewed over 3 years ago
  • HSBC Savings Account

    Easy to save.

    Good interest rate and it is easy to transfer funds.

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    Mandy, Queensland, reviewed about 4 years ago
  • HSBC Everyday Savings

    Customer support almost non-existent.

    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.

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    Alison, Queensland, reviewed over 4 years ago
  • HSBC Bonus Savings

    High interest and branch access.

    They have the highest saving rate among physical banks.

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    Leo, Victoria, reviewed over 4 years ago
  • HSBC Bonus Savings

    Poor on-line international transfers.

    International online transfers are not handled well and they don't deliver the service that is expected from them.

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    John, Queensland, reviewed over 7 years ago
  • HSBC Bonus Savings

    Good rates and great for online banking

    Good rates but not so convenient as far as branch network goes

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    Talei, New South Wales, reviewed about 8 years ago
  • HSBC Savings Account

    Good service.

    Good service

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    Shashini, Victoria, reviewed about 8 years ago
  • HSBC Bonus Savings

    Great customer service & overall great product

    HSBC has been the best bank that I have used till now, great service face to face and over the phone, very professional and great customer service and always going that extra bit to assist

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    Raymond, New South Wales, reviewed about 8 years ago
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    Savings account comparisons on Mozo - rates updated daily

    • Reward Saver Account

      Maximum rate
      5.25% p.a. (for $0 to $1,000,000)
      standard interest rate
      0% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yes up to $250,000

      Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.

      Promoted
    • High Interest Savings Account

      Maximum rate
      5.75% p.a. (for $0 to $250,001)
      standard interest rate
      4.40% p.a.(for $0 to $250,001)
      Govt Deposit Guarantee
      Yes up to $250,000

      Bonus rate for the first 4 months from account opening

      Promoted
    • Hero Saver

      Maximum rate
      4.60% p.a. (for $0 to $250,001)
      standard interest rate
      1.00% p.a.(for $0 to $5,000,001)
      Govt Deposit Guarantee
      Yes up to $250,000

      Minimum deposit of $200 and no withdrawals in the month.

      Promoted
    • Savings Account

      Maximum rate
      5.50% p.a. (for $0 to $250,000)
      standard interest rate
      4.75% p.a.(for $0 to $1,000,000)
      Govt Deposit Guarantee
      Yes up to $250,000

      Bonus variable rate is available for the first four months.

      Promoted
    • Reward Saver

      Maximum rate
      5.25% p.a. (for $0 to $100,000)
      standard interest rate
      0.30% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yes up to $250,000

      Promoted

    Want more? Compare all 205 savings accounts in the Mozo comparison engine.

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