If You are with HSBC bank you suck

cm1179 said:
your bank pays you £15 a month to bank with them? who is this bank.
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Halifax

you also state that you don't bank with HSBC and never would, yet on the next page you state you used to have an account with them..
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I never would again from this point in time.

I knew my gut instinct on you was true from the beatles thread. you are blinkered and dim.
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I posted the facts and you didn't like it. Diduums:p
 
How do halifax give you that much?

I know you get £5 if you have £1000 go into your account every month .... Maybe you earn £3000 pm? Rich bugger!

The best I can do is save up to fill a fixed ISA :(
 
smit101 said:
Why is it so stupid to expect HSBC to be fully aware of what is going on within its own business?:confused:
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It was a Subsidiary NHFA...Nursing Home Fees Agency...and when HSBC (who were the holding company) suspected that the twenty or so salesmen were not accounting for their clients life expectancy when selling the investments it investigated and closed the business as well as reporting it's findings to the FSA. The FSA recognised that HSBC dealt with the issue after detecting widespread problems with sales...and duly reported it to the FSA, the FSA stated that the reduction in the fine imposed recognises that fact and that HSBC are compensating all those families and investors that lost due to the misselling.

As a subsidiary, NHFA would have had significant autonomy in its business operations and if HSBC are to blame then so are the FSA as each is required to audit and provide oversight, something HSBC did do, but the FSA did not.
 
Castiel said:
It was a Subsidiary NHFA...Nursing Home Fees Agency...and when HSBC (who were the holding company) suspected that the twenty or so salesmen were not accounting for their clients life expectancy when selling the investments it investigated and closed the business as well as reporting it's findings to the FSA.
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Yes, I understand this but thanks for explaining, what mystifies me though, is the fact that nearly 3000 elderly people were duped, each investing approx £115,000 before any wrong doing was recognised. The piece states that HSBC bought NHFA in 2005, so that equates to approx 6 years of misdealings before it was noticed things were awry!:eek:

A certain amount of autonomy as you put it, within a subsidiary is understandable, but surely the guidelines laid out by the parent company should prevent the possibility of this kind of unscrupulous behaviour ever taking a foothold.

I don't presume to understand much about banking/investment business and I appreciate you taking the time to explain the finer details, I wouldn't normally get involved in this type of thread, but I find it particuarly infuriating how these elderly folks were taken advantage of so callously and the fact that many probably died before it was even noticed how they were being so misled.
 
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OK all I have done is read the OP and the final page. If what I am doing is simply rehashing the direction that the thread is taking then I apologise.

From the article (actually from other versions of the same story) I think HSBC have acted very well and would honest bank with them any day of the week. It sounds like the corporate governance could do with a bit of an upgrade but in reality it is very difficult for the parent to monitor the actions of the salesmen of one of its subsidiaries. HSBC have been open and honest and flagged the issue to the FSA in a timely fashion.

I think they have acted ethically
 
i used to bank with them but i went in one day with some bags of coins to put in my bank, the woman behind the counter said we no longer accept coins.

so i said right, i'll close my account then.
 
Is this the standard end of year push to try and get a Man of Honour thingy?

Could be wrong, but seem to remember this happening last year and I recall a hissy fit when Fox got one?
 
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