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Author: barneybetty Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 24253  
Subject: HSBC online Saving Term Changes Date: 8/21/2012 12:32 PM
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I had an online saving account from HSBC from back when they had high interest rates. I didn't have much left in it, and closed it today after getting this:

Thank you for saving your money with HSBC Bank USA, N.A. We want to let you know that as of September 23, 2012, your Online Savings Account will be renamed to HSBC Advance Online Savings.

Your account number will remain the same and you will be able to use the account without any disruption in service.

The following account fees will change as of September 23, 2012:
Funds Transfer-In, per incoming transfer - $12 each (the transfer of funds from another person's account, or another financial institution to your HSBC account)


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Author: TMFTaurean Big gold star, 5000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24199 of 24253
Subject: Re: HSBC online Saving Term Changes Date: 8/21/2012 5:02 PM
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You too huh? They have got to be joking. HSBC wants to charge me ($12!) for sending them more of my money to stash at their bank? Uh, I don't think so.

I sure hope this isn't the start of a trend though.

Mark
CF Home Fool

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Author: barneybetty Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24200 of 24253
Subject: Re: HSBC online Saving Term Changes Date: 8/21/2012 5:18 PM
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I forgot to mention that to close your account you're supposed to send an inbank mail from the web page.

Customer service wouldn't help me (after I spent 25 minutes on hold to get to a human).

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Author: scottymc1601 One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24201 of 24253
Subject: Re: HSBC online Saving Term Changes Date: 8/22/2012 11:31 PM
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HSBC had the following posted on their website today:

Recently, Online Savings Account customers received an email indicating the Funds Transfer-in fee is changing on September 23, 2012. Please note, this is not a new fee and pertains to wire transfers into your account only. Bank to Bank transfers and other automated deposits, such as direct deposits of payroll and tax refunds, are not impacted by these changes.

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Author: TMFTaurean Big gold star, 5000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24202 of 24253
Subject: Re: HSBC online Saving Term Changes Date: 8/23/2012 8:12 PM
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So they totally screw up the message that was emailed to all their customers and then post this to their website (and just buried at the top of the initial login form which a lot of folks might not even read. Could they also not choose to email the correction to their customers too and maybe even offer some sort of apology for the confusion, which their notice on the website neglected to do.

I got a reply from their customer service to the irate inquiry I sent them reiterating the same thing. And rather than giving me a chance to even reconsider the request I made to close the account as a direct result of their error, they are going ahead and closing the account anyway. And for the measly $0.01 I had in the account which I told them they could keep for their trouble, they said they would be mailing me a check after the account closes :-)

I wonder how many customers they're going to lose over this?

Mark
CF Home Fool

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Author: barneybetty Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24203 of 24253
Subject: Re: HSBC online Saving Term Changes Date: 8/24/2012 7:54 PM
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I wonder how many customers they're going to lose over this?


At least 2

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Author: Patzer Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 24204 of 24253
Subject: Re: HSBC online Saving Term Changes Date: 8/27/2012 9:40 AM
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I wonder how many customers they're going to lose over this?

I seem to recall a similar confused wording on fees back when I had an account with HSBC online. I got past it for the then-leading interest rate.

They lost me as a customer when the interest rates stopped being market-leading. For merely good interest rates, I wasn't willing to put up with transfers being in limbo both directions.

In a saver-hostile interest rate environment, the fine points of customer service become more significant.

Patzer

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