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Internet Transfers Hang Seng to HSBC

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  1. #21

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    >> PDLM mentions its all part of good economics.

    Good economics does not always translate to good business or customer service.

    Glad someone has transferred over to SCB. One at a time, I hope the sheep-le who use HSBC finally figure out that there a dozens if of equally competent banks out here in HK.

    Last edited by shri; 28-01-2010 at 11:54 PM.

  2. #22

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    What I find quite funny is that I have to write cheques TO MYSELF. I get out my HSBC chequebook, write a cheque to myself, then go to an SBC branch and deposit the cheque in my SCB account. This is the way to avoid fees.

    All this messing around just because HSBC want to charge $30 to do it online.


  3. #23

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    I've also moved over to SCB. There were some teething problems, but in general now things are fine with them.

    Their online banking is OK, but I still find HSBC better.


  4. #24

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    I moved from HSBC more than 20 years, before it was the "world's largest bank", as it was crap back then.

    The $30 is a convenience charge and there will be people who will pay for the convenience, particularly if they have had to spend a lunch break queuing at the bank.

    For those who feel it is too much, leave HSBC because you are too small and it doesn't want your business.


  5. #25

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    Good on you for switching pin. Yeah I also had some teething problems and SCB customer service is not the best, but once things are up and running there shouldnt be much need to set foot into a branch.

    One more "scam" with HSBC is their online "24 hour currency exchange service". Do you people realise that when you do a currency exchange on the weekends, they charge you more? What I mean is that there is a much bigger gap between the TTB and TTS rate. You will get a much better rate by waiting until a weekday to do currency exchange.

    Whilst I can understand they need to cover themselves in case the rate goes up or down over the weekend, I think they are not really being honest because they dont highlight it, dont make any mention of it on their website at the time you do the trade, and people will generally never know about it.

    I would prefer if HSBC only allowed currency transfers on weekdays like SCB if they are not going to be open about it and make it clear to customers that they will be getting a worse rate.

    HSBC's online "24 hour currency exchange" service is a rip off. Dont use it. Only do currency transfers on week days if you want the best exchange rate.

    PDLM and rohitseks like this.

  6. #26

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    The only problem with that is when you need a chunk of cash which is sitting in say USD/GBP and you can't get to it because it's out of business hours. I appreciate this might not be a major problem for most people but to be honest, it really irritates me.

    That said, I do agree that HSBC should make it clear they're giving you the shaft - at least you are informed and have a choice that way...

    MovingIn07 likes this.

  7. #27

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    Quote Originally Posted by Claire ex-ax:
    leave HSBC because you are too small and it doesn't want your business.
    That's what I did 10 years ago, and very glad I did.

    I was talking to someone last night who works at HSBC and she said the staff there are quite aware of how the bank's policies are alienating its customers.

  8. #28

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    Its true that the 24 hour exchange service is convenient, but what annoys me is that they dont make any mention of the worse rates over the weekend. It seems that at some point early on Saturday morning (I assume when US markets close) then the gap between the TTB and TTS rates for all curencies blows out and you will be getting the shaft if you decide to exchange on Saturday or Sunday. This happens automatically without your knowledge unless you are really scrutinising the rates.

    As an example, the TTB and TTS rates for AUD today (Sunday) are 6.802 and 6.918. So the gap is about 0.11. But during the week, the gap is usually about 0.04.