I own a small limited company and currently bank with Bank of Scotland, they are handy for us with nearby branches but charges are up and the level of service has dropped with our 'dedicated manager' now just being someone in a call centre.
HSBC are now agressively chasing us to switch with offers of free banking for 18 months and direct contact to a named individual by email to sort out any problems that may arise.
Does anyone have any small business scare stories to share on HSBC?
No - our experience with a number of HSBC business a/c's has been v. good.
But one thing to note - do NOT try to apply on-line. Go into a branch (with your paperwork, ID etc) and sort it out face-to-face.
"Martin" wrote
If you apply on-line, you spend ages filling in all the boxes.
Then the next day, HSBC rings you up, asks all the same questions, reads out all the "small print" stuff, tries to sell you "extras" you neither need nor want. This call lasts at least 3/4 hour.
A few days later, you receive (via snail mail) assorted forms to fill in.
Once returned, they then send them back to you once more, with some query or another - and insist you only answer one question at a time.
So 3 (say) queries mean you go round this loop 3 times. I do not exaggerate!
(By way of example, one part of the form requires deleting "that which doesn't apply". It was returned saying I had to initial the deletion! This, despite my signature at the foot of the form, and HSBC not requiring that any other deletions be initialled.
Eventually (2 or 3 weeks since first applying), and only if you're lucky, they'll open the account - and send you two of everything. Including 2 dongle-type code generator thingies.
Fairly recently, while opening an HSBC business account in person, I confessed to the mgr that I'd previously struggled to open (another) a/c on-line. She slumped forward, head in hands, and said "Oh God - you didn't try that, did you? Never, never try to do it on line!"
HTH
I'm thinking of moving my business account away from Lloyds TSB and saw this thread. 18 months free doesn't seem a bad deal but thanks for the heads up about going in and doing it.
Did you transfer or open a new account? I would like to know what happens to BACS payments that may be destined for the old account. Is there an automatic procedure to redirect them to the new account?
That might put me off. Presumably if you are away and want to do anything on-line you have to take the code generator? Is it really a dongle ie plug in to USB?
How do they get it so wrong!!
"Martin" wrote in news:InLTm.62623$ snipped-for-privacy@newsfe05.ams:
One for and no tales of woe, that's good to know, thanks for the response and the tip on applying in person.
Just keep an eye out to check where any personal information might go - eg sharing with any third parties. Whether this is relevant to a business account, I'm not sure. It certainly is to a personal account.
Iain
I think it continues to be charge-free after 18 months, providing you keep within the (fairly generous) number of transactions per month, and avoid drawing or paying in cash.
Have done both.
I don't think so - you would need to notify the payers individually. If they tried to BACS money to your old account after it was closed, I think it would be returned to the payer(s) automatically.
No - sorry I don't know the correct name. It's a small thing (about the size of a pen top) which displays a new 6-digit code each time you press the button.
I'm tempted to say it's because they're bankers. But in truth, like many other sectors, it's because everyone below board level has been dis-empowered, so has no authority and hence no interest. And those at board level are totally detached - neither knowing nor caring what customer service or efficiency are all about. They could do worse than take Robert Townsend's advice (he of Avis "we try harder" fame) from the 60s - "ring (anonymously) into your own company regularly and see how you're treated".
HTH
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