HSBC Mini Cash ISA

HSBC Premier has offered me nothing but bad advice. Took out a low risk Corporate Bond with them (their suggestion) 3 years ago.

Currently the investment is over 30% down and it has never ever gained anything from the day they put me on it.

They use gimmickry and offers, rather than offer a return that competes with anybody. (Emporers suit of Clothes comes to mind when they explain all the services they offer)

Saved my personal pension with them but can no longer afford their derisory returns and have pulled it out from there after 22 years. Same thing with the cash ISA, they don't compete with anyone

We are customers of HSBC and in today ' s economic climate we are moving some savings to ISA as savings rates have plummeted. We wanted stability and reasonable if not the best rate from a reliable, stable bank. Hopefully the market will improve and rates may well also improve. We have only dealt with the online service and have found it to be easy to use if an existing customer as we are. Not sure how easy if having to join etc. Also like ability to take out money without penalty at no notice at all. I would recommend it to other people looking for a stable product who can then shop around when the climate improves in the coming year or so. Obviously better rates available with other products like fixed rate bonds we decided they were not for us.

Because I am unemployed and only occasionally have money to pay in, HSBC have without notice, changed my current account to one with fewer features. This and the lack of information about rate changes for my ISA persuades me that other banks and building societies want my business and savings more than the HSBC does.

It's time to sever a relationship that goes back over 20 years.

My wife and I went into the York Branch of HSBC at 11.00am (04/09/2008) in the hope of discussing our ISA accounts, having given up trying to contact the bank by telephone. We were greeted by at least six members of staff all clutching clipboards and doing very little else, and were told that we could see an adviser if we were prepared to wait at least 50 minutes. I asked if we could book an appointment, and were told that we could, but were advised to stay in the branch and wait as there was the possibilty that we could miss the appointment as appointments are not given for specified times (What!?). We decided to leave and returned an hour later and try again. Guess what! We were informed that there was a waiting time of at least 45 mintes etc. just as before. At this point we left, went to another Building Society, where customer service is better and promptly transferred our ISA accounts to one of their products with no fuss or delay.

Banking with HSBC for 23 years as a whole good service.

HSBC Mini Cash ISA have clearly dropped the rate again - I get interest Monthly and it's gone down - so time to switch. I've got 10.5 in there and the 3.6 to add after April 5th. I'm moving it to Lloyd's TSB who are offering 6.5 % for 12 Months. I'll switch after that if needs be but loyalty clearly doesn't pay!

I wish that HSBC would have told me about the changing of mini cash isa's as I have only just created one. Now that they are changing, i would like more guidance. They do NOT offer the best interest rates, so I will be looking elsewhere.

HSBC knows it can offer great customer service and an old familiar name that people recognize as a symbol of security. This may sound like a good thing, but it also means they can take advantage of peoples mistrust of other banks and building societies by giving customers like myself a low 4.75% interest rate (variable) on our ISA's. Now, you may not go for that top of the line ISA but still, most other companies can do better than that. The only one I've seen that's worse is Virgin at 4.5%. Most offer anywhere from 5.15% to 6%. The fact that the best HSBC has to offer is 5.75% even for it's valued customers is rather disappointing. I just wish I had known more about ISA's before choosing them as my first to save with, now I've lost the potential to start with another bank that offers fantastic first time rates.

I know the interest has dropped and know it is poor compared to other ISAs but what exactly is the rate - I can't seem to find it anywhere. In internet lists of top ISAs it never figures - what is it?

I asked for some information about my account and they told me to wait until the my next yearly statement come out to me. Not happy with the service. Although a good rate when I first put the money in, now not very good at all. Not comparable with the rest of the market.