HSBC Current Account Review

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HSBC Current Account
1.5 stars
Average rating for this product is: 1.5 out of 5

From 3 ratings and 20 reviews

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jeffrussell's Review of HSBC Current Account

10th May 2008

Overall Rating

1 stars
  • Customer Service
    1 stars
  • Ease of use
    2.5 stars
Good Points

Good online banking facility and ability to view statements 6 years old


Bad Points

Informal Overdrafts -


General Comments

In 4 years I had only gone overdrawn once, by £9 and for a matter of hours before I moved money to the account from my HSBC instant access savings.

When abroad I phoned HSBC and got my balance then withdraw money I was told I had. HSBC had not deducted a pending cash withdrawal from 2 days earlier and as such I went overdrawn by £90 which was resolved the next day (when I realised) and money was moved from the HSBC savings account. No bounced cheques / well run account and HSBC error resulted in 2 x £25 fees as they said in taking the money from the cash machine i had "requested an informal overdraft" and the charge stood.

I dont need an overdraft and there was money in my savings account but because of their error in telling me my balance I had to fight for 3 weeks to get them back. The branch were most unhelpful and kept reciting "informal overdraft" which if I hear ever again in my life I may well have Falling Down moment (joke)

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LenderAccountDescriptionInterestAEROverdraft  
Overdraft RateOverdraft Limit
Alliance & LeicesterPremier Direct AccountEarn a great rate of 6% AER (fixed for one year) on balances up to £2,500.Monthly6.00%0.00%£2,000.00
Alliance & LeicesterPremier CurrentEnjoy Free annual multi-trip European travel insurance and earn 0.50% AER on balances up to £2,500.Monthly0.50%0.00%£2,000.00
NatwestNatwest Advantage Gold AccountEnjoy benefits worth up to £704 for just £12.95 a month. Including Mobile phone cover, Travel Insurance and even tailored rates on other Natwest products.Monthly0.25%18.49%n/a