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HSBC Savings account reviews

Overall rating
7.4/10
Price
7.3/10
Features
6.4/10
Customer service
7.1/10
Convenience
6.7/10
Trust
7.8/10
Based on 326 reviews as rated by the Mozo community.

Recent HSBC savings account reviews

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  • HSBC Serious Saver review

    Overall rating   2 / 10
    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.

    Price
    4 / 10
    Features
    2 / 10
    Customer service
    5 / 10
    Convenience
    1 / 10
    Trust
    2 / 10
    Less
    Jo, Victoria, reviewed about 2 months ago
  • HSBC Serious Saver review

    Overall rating   9 / 10
    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.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    6 / 10
    Convenience
    6 / 10
    Trust
    10 / 10
    Less
    Caitlin, New South Wales, reviewed 3 months ago
  • HSBC Savings Account review

    Overall rating   0 / 10
    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.

    Price
    0 / 10
    Features
    0 / 10
    Customer service
    0 / 10
    Convenience
    0 / 10
    Trust
    0 / 10
    Less
    Fred, New South Wales, reviewed 5 months ago
  • HSBC Savings Account review

    Overall rating   8 / 10
    Easy to save.

    Good interest rate and it is easy to transfer funds.

    Price
    8 / 10
    Features
    8 / 10
    Customer service
    8 / 10
    Convenience
    8 / 10
    Trust
    8 / 10
    Less
    Mandy, Queensland, reviewed 10 months ago
  • HSBC Serious Saver review

    Overall rating   0 / 10
    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.

    Price
    4 / 10
    Customer service
    0 / 10
    Convenience
    0 / 10
    Trust
    0 / 10
    Less
    Alison, Queensland, reviewed about 1 year ago
  • HSBC Flexi Saver review

    Overall rating   10 / 10
    High interest and branch access.

    They have the highest saving rate among physical banks.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Leo, Victoria, reviewed over 1 year ago
  • HSBC Flexi Saver review

    Overall rating   6 / 10
    Poor on-line international transfers.

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

    Price
    8 / 10
    Features
    1 / 10
    Customer service
    7 / 10
    Convenience
    3 / 10
    Trust
    7 / 10
    Less
    John, Queensland, reviewed over 4 years ago
  • HSBC Flexi Saver review

    Overall rating   7 / 10
    Good rates and great for online banking

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

    Price
    8 / 10
    Features
    8 / 10
    Customer service
    8 / 10
    Convenience
    5 / 10
    Trust
    8 / 10
    Less
    Talei, New South Wales, reviewed almost 5 years ago
  • HSBC Savings Account review

    Overall rating   8 / 10
    Good service.

    Good service

    Price
    6 / 10
    Features
    6 / 10
    Customer service
    6 / 10
    Convenience
    6 / 10
    Trust
    8 / 10
    Less
    Shashini, Victoria, reviewed almost 5 years ago
  • HSBC Flexi Saver review

    Overall rating   10 / 10
    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

    Price
    9 / 10
    Features
    9 / 10
    Customer service
    10 / 10
    Convenience
    8 / 10
    Trust
    10 / 10
    Less
    Raymond, New South Wales, reviewed almost 5 years ago
  • HSBC Savings Account review

    Overall rating   5 / 10
    Relatively good service.

    No bank fee, but low interest rates.

    Price
    5 / 10
    Features
    5 / 10
    Customer service
    5 / 10
    Convenience
    5 / 10
    Trust
    5 / 10
    Less
    Harris, Victoria, reviewed about 5 years ago
  • HSBC Serious Saver review

    Overall rating   7 / 10
    Great customer service

    Online banking seems to have good security. Easy to transfer funds between accounts.

    Price
    7 / 10
    Features
    4 / 10
    Customer service
    6 / 10
    Convenience
    7 / 10
    Trust
    7 / 10
    Less
    Kate, Victoria, reviewed about 5 years ago
  • HSBC Flexi Saver review

    Overall rating   8 / 10
    Exceptional customer service.

    Exceptional customer service.

    Price
    6 / 10
    Features
    5 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    9 / 10
    Less
    Sarah, Western Australia, reviewed almost 5 years ago
  • HSBC Flexi Saver review

    Overall rating   9 / 10
    No fees, all the options, rock-solid, reliable.

    Reliable service. Never any problems accessing money. Can use Westpac ATMs without fees. No monthly fees. Cannot recall last time I incurred a bank charge. Convenient branch location in the city. VISA debit card attached to account is FANTASTIC, convenient, useful, fantastic. Have been able to use it online, also for renting cars, etc. Downsides -- HSBC linked to laundering drug cartel money in South America. I had trouble accessing funds while travelling in Africa even after I notified HSBC that I was in Africa.

    Price
    10 / 10
    Features
    6 / 10
    Customer service
    9 / 10
    Convenience
    9 / 10
    Trust
    9 / 10
    Less
    Sean, Queensland, reviewed about 5 years ago
  • HSBC Savings Account review

    Overall rating   7 / 10
    Good product

    Convenient bank with no fees.

    Price
    6 / 10
    Features
    5 / 10
    Customer service
    6 / 10
    Convenience
    6 / 10
    Trust
    6 / 10
    Less
    Grace, New South Wales, reviewed about 5 years ago
  • Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

    Savings account comparisons on Mozo - rates updated daily

    • Bonus Saver Account

      Maximum rate
      1.35% p.a. (for $0 to $250,000)
      standard interest rate
      0.15% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yes up to $250,000

      Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.

      Promoted
    • Online Saver

      Maximum rate
      1.30% p.a. (for $1 to $100,000)
      standard interest rate
      0.65% p.a.(for $1 and over)
      Govt Deposit Guarantee
      Yes up to $250,000

      bonus rate for 4 months

      Promoted
    • Hero Saver

      Maximum rate
      0.90% p.a. (for $0 to $250,001)
      standard interest rate
      0.01% p.a.(for $0 to $5,000,000)
      Govt Deposit Guarantee
      Yes up to $250,000

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

      Promoted
    • Fast Track Saver Account

      Maximum rate
      1.05% p.a. (for $1 to $250,000)
      standard interest rate
      0.05% p.a.(for $1 and over)
      Govt Deposit Guarantee
      Yes up to $250,000

      Ongoing bonus rate applied if in the previous month $1,000 or more is credited to the linked Day2Day Plus account and 5 eligible transactions are made by the linked account.

      Promoted
    • Saver Account

      Maximum rate
      1.10% 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

      Make 5 or more successful card purchases per calendar month using your Up debit card and digital wallets (ATM transactions excluded).

      Promoted

    Want more? Compare all 224 savings accounts in the Mozo comparison engine.

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    Mozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.