Hsbc Online Banking Service

I am looking to join one of the big four UK Banks.
HSBC, Lloyds TSB, Natwest or Barclays however I was interested in knowling which of these 4 can offer me the most services online. Ranging from Current account to mortgages, I would like to manage all my financial products online.

You will probably get a better answer by clicking on the Great Britain flag at the bottom of this page (where your question is displayed).

Or start here:
http://uk.yahoo.com/

2006-10-11 07:32:28 by Joself_Mann

Most successful launch of internet banking service in Hong Kong

As of July 1, 2006...
HSBCDirect @ 5.05%
EmigrantDirect @ 4.80%
INGDirect @ 4.35%

I currently have an INGDirect online savings account and Im very pleased with their customer service. But lets face it, %5.05 > %4.35. I dont want to be that person that has like 3 online accounts though. However, ING has a couple CD's with %5.25 rates, and I have no problem messing with my money for an allocated amount of time. Is that a better alternative to opening another account with another online bank?

Banks don't raise their interest rates just because... Banks use the money you deposit to make loans out to other people. Those loans may be credit cards, student loans, car loans or mortgages.

When a bank has more deposits than it needs, it will lower their interest rate, which in turn slows down future deposits. When a bank needs more deposits (let's say the car loan business is getting very popular and they need more cash on hand to handle demand) they will raise interest rates to attact new clients or get their current depositors to deposit more cash!

This is kinda like when a store has too much candy after halloween and puts it on sale to reduce inventory quickly. They can manipulate the price to achieve the desired "demand".

Some banks always have the best rates, as they may not have a lot of branches (convenience goes a long way too) and therefore need to generate deposits some other way, while other banks tie their interest rate (called their cost of funds) to the interest rate they are collected from their borrowers. As those rates rise, they may be willing to pay their depositors more (or keep the extra spread as profit).

There are other considerations, such as "Can the bank borrow money from other banks or the government at a lower interest rate than the depositors are demanding?" If so, they will borrow from them. So some banks may be in the business of lending to other banks (very little credit risk involved) and earn a tiny margin but deal in huge amounts of cash each day. Tiny margin might mean the bank pays (on average) 3% to their depositors and lends at 3.25% to other banks. Those other banks might be willing to pay depositors 5%, but if they can get funds from bank #1 at 3.25%, they will.

The reason the average is so low is that the average interest rate on saving and checking accounts are very very low, and commercial accounts (usually tens of thousands of dollars, or more) typically do not pay interest.

2006-07-01 14:28:47 by jdw504

I am 28 and I have had a checking account with HSBC for the past 8 years...I'm thinking of switching to Washington Mutual due to their superior online banking options and customer service....if I were to switch to WAMU would my credit worthiness take a hit being that I have been with HSBC for some time now?

Thanks in advance!!
Thanks for your inputs...it was much appreciated!!

No. Pull your report and you will see that your checking account does not show up on your report.

If you had an HSBC VISA (not debit card) and closed that to go with, say, a Capital one Visa, then yes it would hurt. Its the Credit card accounts, loans, etc, that you want open for long-term.

2006-10-31 07:44:04 by myapt5c

Now I know bankrate.com is supposed to tell you the highest ratings for online banks, but both HSBC and ING have horrible recent reviews on epinions.com. I'm wondering where the best online bank is in terms of reliability, customer service, and APY.

I can't necessarily answer what bank is best but I will tell you that the banks who need to raise the most capital will also provide the highest rates so the high APY banks are likely in worse shape financially. Honestly it really doesn't matter what the banks "reliability" is because as long as you invest less than $250,000 your deposits are covered in full by the FDIC. Personally I've never had an issue with ING, keep in mind most review message boards will always be tilted negatively because people are more inclined to write a review if they have had a bad experience versus a good one. The bankrate ratings are a better way to judge the bank quality and if you really prefer another source the Better Business Bureau is another good source. Hope that helps.

2009-05-06 10:57:24 by Midgard

I actually don't like my bank's online web service anyway. Transactions I make don't post until the next day. I'd like to maybe go to HSBC, because there are so many branches and it's very world-wide where my bank is (or was) very local. Capitol One? Meh, I don't know. Any thoughts?

Give them a chance I say.

What's the worst that happens?

You end up moving to a new bank anyway.

(Although it may not hurt to start shopping around)

2008-02-08 22:00:32 by hegottahaveit