HSBC Bank Reviews 

Rating this 0 star Please read this before buying any product from HSBC (Investment, Interest Bonus)

My dad is interested to earn additional Interest through HSBC Everyday Global Account Bonus Interest Promotion for month April 2023. He walked in HDB Serangoon Branch and was approached by RM Alyssa.

Understand from RM Alyssa that to my dad entitled to "Governing HSBC Premier Welcome Reward Promotion for New HSBC Premier Customer" for month April 2023. To be entitled to Premier Welcome Reward Tier 3, my dad has to Place a minimum incremental Fresh Fund of SGS1,200,000 AND minimum investment of SGD50,000 to be entitled to SGD5,500 cash credit.

On top of Welcome Reward, his referral is also entitled to SGD1,600 if requirement as above stated hits.

My dad is interested to get Tier 3 benefits for himself and his referrer. He put in more than $1.2m for Global Account Bonus Interest, and also SGD50k in DUEL CURRENCY investment.

6 months passed and my dad checked on his rewards to realise that he was only entitled to Tier 1 Welcome Rewards of SGD200. His referral is only entitled to Tier 1 Referrer Rewards of SGD300.
(Tier 3 total rewards is SGD7,100)

Alyssa went on block/compliance/maternity leave and was uncontactable until April 2024. RM Johnathan took over and told us that DUEL CURRENCY investment is not part of eligible Wealth Product to be entitled to Tier 3 benefits. However, to qualify, RM Johnathan says he can put in another $50k into other investment products which in this case my dad rejected because of we have no confident in HSBC RM anymore.

I questioned RM Johnathan, why would my dad put $50k dual currency if it only earn $80 from this investment? Why did this $50k looks similar to Tier 3 "Minimum SGD50,000 in eligible Wealth products"? To his response he mentioned he do not know what was conveyed between RM Alyssa and my dad. As everything was said in room and not recorded, RM Johnathan said he will raise an appeal to Product team to see if my dad can get his Tier 3 cash benefit. Results came back to be negative.

Understand from RM Johnathan that RM Alyssa is not able to response until her end of leaves. And RM Alyssa has the rights to not reply to any work related work during her block/compliance/maternity leave. This may be because RM Johnathan is to take over RM Alyssa’s works. My question here is what is the reason of a compliance leave? As quoted “Block leave is important for risk management as it ensures the company can still operate without the employee's presence. It guarantees there is a replacement for every staff member in case of emergencies or other unforeseen circumstances.” However, since RM Johnathan is unable to give an answer to what was conveyed by RM Alyssa, we the client has no way to get an explanation. As mentioned by RM Johnathan, the only thing we can do is as quoted from RM Johnathan “You can only wait for Alyssa to be back from maternity to respond to you”. Is that how risk management by bank industry should be? There was no explanation from RM Alyssa as to why was the coincidence of Duel Currency SGD50,000 and Tier 3 SGD50,000 eligible Wealth Product.

I would like to add that my dad has USD investment in UOB which gives interest higher than HSBC's earned amount. Why would my dad put SGD50k into HSBC then?

Futhermore, both RM were not responsive. Understand that RM should not be communicating with client via WhatsApp. However, it is seen on their WhatsApp conversation that both RM did reply to my dad at the start of conversation. Whether or not it is the correct platform, i do not know - since both RM did reply previously. When we started to question about the benefits, no replies were given from Alyssa (on maternity), Johnathan (overseas).

HSBC Singapore reduced my premier credit card limit without any prior notice. I only found out today when I want to use my credit card to pay for Black Friday’s purchase. I rang them up and they said they had reduced my limit yesterday (23rd Nov) and they have sent a letter out on 24th. In all of the banks that I have dealt with, you write to the customer first before reducing their credit. My last credit card statement in Nov was still showing my prior limit. They then advised that this is in line with the new MAS limits. I then went on MAS website, their criteria limit doesn’t apply to me. Going to see the premier banking team tomorrow. An absolute bunch of amateurs who don’t seem to have a clue what they are doing or what customer service actually means.

On line banking easy!! Not if you push a wrong number even once, customer service useless!

We called the corporate bank to on replacement card. And after 10 business days (as they mentioned it will be up to 10 business days, it's not processed). Called back, a lady mentioned, I did not call in.

The calls on two ocassions is handled by a guy who doesn't sound local - rude and hang up my call when we enquire on fraud transaction. No detailed given.

Even simple question regarding promotion eligibility takes very long to resolve. Already 1 month but no resolution. Very bad

It is really beyond comprehension how this bank is even allowed to function.
Among many horrible things that I read here about so many things happened to me:
- lost my money during wire transfer and could not refund for around 6 weeks;
- had to wait for around 1+ hour plus just to get a response from them over internet banking chat;
- always promises to return the reply in 1-3 days, or 3-5 days etc., but never replies;
- at the end they not only closed my accounts without any reason, but also blocked my money inside. No explanation, no solution. They only suggest to come to the branch and withdraw the money, but I am not in Singapore and they don't want to allow me to use internet banking as before.
It is ridiculous how Singapore's authorities ignore all this - I wrote a letter to MAS but they also don't reply. They allow these borderline criminals to operate in this manner and still dare to say that they have transparent rules and robust oversight over banking industry. They should be ashamed and stop talking about the good reputation of Singapore banking system, it's just trash

Do HSBC.SG ever bother to review and act upon the Trustpilot client reported experiences here. Seems not as evident by only a 1 star rating. Even the appeal process they claim to have is non functional with no separate web access. A request for same just disappears into an abyss, one is doubtless fruitlessly trying to amend a foregone execution.

Have to concur with Ultratech who on 15/7/23 gave an award for 'worst customer service'. When one's account is terminated, in my case after multiple years, web account access is gone and one is supposed to communicate via phone.

In the meantime, the HSBC.SG webpage line 1 is about the dangers of calls, SMSes or emails, phishing and fraudulent calls claiming to be from HSBC! Looks like they or clients are under serious bombardment by fake messages, and the huge reported losses from same in this wonderful electronic age.

Lot of sense to Ismail Balaban's message of 20/12/22 re account termination methodology under their clause 14. I will be reverting to them via my lawyer and the ABS Code of Consumer Banking Practice which clearly is something they are not familiar with, or at least need public reminding about proper 30 day notification of account closure to their previously valued clients, in this electronic age we were persuaded to adopt some years ago. This as opposed to clients being otherwise put in potentially dangerous situations when abroad by our dream HSBC cards we were persuaded to aspire to and work well for x number of years suddenly becoming non-functional pieces of plastic.

And Axs message of 4/5/23 re Account compliance closures and reasons for same. We had to bear as clients of HSBC what they have been fined severely for worldwide in the past 10 years. No doubt change initiated now by this 'new broom' WBP Credit control services and their vaunted AI which is supposed to have human supervision in action, picking us off. Certainly their executives are delusional in their reported press statements amongst others about the 'business of banking being about trust'. Sadly not, I did, that was my belief before about HSBC.SG, not now.

If there is an award for the 'Worst Customer Service' and ethics in banking world - this bank will win that hands down.
Customer care personnel do not record or take any action whatsoever.. Poor back office management.
They are hiding behind a wall. No Email for Customer Complaints, no customer grievance officer. Pls stay away as far as possible...

Both my wife and I are having repeated problems with HSBC Singapore ( France is no problem ) . From simply wanting to change address online ( which takes 3 days to do) and which has not been done , to not getting a new debit card delivered after a month. Their chatbot is a laugh , and customer service online inefficiant and communication with branches almost inexistant . Add to this the shutdown of Branches , the removal of ATMS , HSBC no longer gives a good service to its customers

Deserves zero rating not even 1 star.

Zero observance of basic business and professionalism bordering on criminal.

No follow up despite reminders for a month, complete waste of customers time

Absolute disgrace.
Had a last instalment (personal loan) payment due and bank statement was queried and checked via a call to the bank, asking for the exact amount as my final payment. That should close the loop and wrap up the loan account.
Payment was made promptly, with transfer statement and SMS acknowledgment to me.

The whole thing turned sour thereafter:
Received a rude call from their “debt collector” three days later, demanding for $80 fee (without explaining what this is for).
Ended up having to make more calls to clarify the matter - had to pay a few dollars on top of what was clarified as advised by their own officer (before final payment).
Not to mention debt collection insisted on the payment without any clear explanation given, while disregarding my concern. In fact, their claim of representing “hsbc” is only via my own submission of my info over the phone. Never did they use “hsbc”, just debt collection department.

Wasted more time in calling hsbc directly via their main line, to discover a $2 outstanding. Still no clue how this amount came to be; no explanation; call was logged previously but they have no access to verify my claims that the exact final payment amount was advised by hsbc. What a farce

It took more than a month to open an everyday global account and more than two to three weeks for a replacement debit card. Called them /chatted with them almost daily to chase them as I needed to fly off to Canada. Customer service wa so poor that they just kept telling me things a simple chatbot can tell me "10-14 days" to get the card but it has been three weeks and counting no card. Looks like I'll have to fly orf without the debit card. I'm ashamed to say that despite being Singaporean, hsbc canada is so so so much more efficient.

I absolutely hate having to deal with HSBC. They are so much more difficult to deal with than any of the other banks I use.

Their chatbot is a joke. For a large multinational bank their online systems are totally dysfunctional and not fit for purpose.

I wanted to apply for instalment plan so I sent sms them twice and no return calls even after a few days. Contacted them thru their hotline, staffs in-charge are either unavailable and/or always in a meeting. Promised me to call back in 2 hours tume and as expected they didn’t call me back. Contacted them again in same day and promised me to call back again in 2 or 3 days time. Again no calls from them. 10 days had passed and my request still haven’t processed and I’m still waiting…

I was served by staff, Mr Afif, on 28th Feb 2023. Mr Afif was a super nice staff who helped me patiently by guiding me step by step on the phone on how to go about using the online banking. This pleasant experience has made online banking much easier now. Big thank you to Mr Afif. Keep up the good work!

I’ve been here before but my experience with this alleged bank has been so atrocious that I must add another review. It goes without saying that I’d rate for ‘0’ stars if I could. I’ve been waiting for over 3 months to get a credit card and every time I ask for a status update I get told they’ll revert within 3-5 business days and they never do, I follow up and ask for a manager and the so-called manager says the same thing. No-one takes any responsibility, no-one cares, no-one replies - I’d recommend avoiding this bank at all costs if it’s service you want. I will be closing my account with them but that will be a drama too no doubt but they won’t care.

I really wish i could give 0 stars i really do. i have written up some negative feedback in my time, but this one is going to be one of the worst. HSBC Singapore really REALLY need to get their act together. their "premier" service sucks. i cant even get past phone verification despite being told twice its my phone number which does not work. now i have to setup an egiro manually, then run a transaction verification, only for a screen to appear after telling me this service is unavailable, please try later. i tried 2 hours later and still the same error. But its ok, because customer service told me there is no problem with the portal. then coming back to me 30 minutes later telling me there is a problem with the portal. I am going to be changing banks today over to UBS. HSBC are shockingly inept!

time to move banks, they have cut costs so drastically that as a premier customer you get no service at all, call waiting is regularly 30 minutes, as a bank they are utterly inflexible.........i'm moving after 25 years........

I am a Premier / Jade customer and HSBC SG does not have its customer's best interest in mind.

The way I was treated recently is unacceptable; I will be changing to another bank soon.

Fully repaid my loan (including early termination charges). Now after 20 months, HSBC tells me that I have outstanding loan instalment. I have the bank statement from last year that stated the loan had been fully repaid. Yet collection dept persist on calling and texting me. I submitted the matter to FidRec for resolution, customer relations dept acknowledge through email and will update me. However, collection dept called me again and asked for the case reference number. They claimed they are not aware and are unbale to retrieve the case. It is really unbelievable, same bank but collection dept cannot finf out what customer relations dept is doing.
I have been using the HSBC credit card for years now and has always been up to date with payment and now they suspend my card even because of unpaid loan instalment even though my case is pending investigation by FidRec. What a horrendous way to treat a regular customer. So I have stopped using the credit card although it is my 'go to' card. Might as well switch to other bank's credit card.