HSBC is killing my business, piece by piece • Hacker News Board

Re: HSBC is killing my business, piece by piece

#241

Post by cocoablazing » Mon, Sep 04, 2017, 9:52 PM UTC

Retric wrote: post #93

woodylondon wrote: post #12

I think this is a huge problem and one that is going to continue and get worse. How is it the banks were the ones at fault, but the customers are paying for it. They just hide behind AML / Knowing your customer and say talk to your MP. I was locked out of internet banking for my business account with Lloyds for over 3 months due to a technical fault in the way it was setup. Was paid compensation in the end, but alrea…

I think part of the problem is banks don't make much money from the average account outside of fees. I would rather banks just charged say 20$ a month and had actual customer service instead of the mess big banks evolve into.

Retail customers are the cheapest source of capital for BB. I remember directors would laugh about it when it was brought up. Banks are not doing retail (any) customers any favors.

Re: HSBC is killing my business, piece by piece

#242

Post by tedmc » Mon, Sep 04, 2017, 10:08 PM UTC

Porter's Five Forces. Never let a single organization be a supplier for 100% of critical infrastructure. As I write this, I'm reminded it's been a while since I've looked through everything to make sure I'm not.

Re: HSBC is killing my business, piece by piece

#243

Post by seanmcdirmid » Mon, Sep 04, 2017, 10:08 PM UTC

TheCoelacanth wrote: post #179

seanmcdirmid wrote: post #128

Earlier quoted context omitted.

500k is nowhere near rich enough to afford a financial advisor; many people save that much easily for retirement. Maybe 2 million.

If you have 500k in cash in a normal bank account, you are either so financially illiterate that you absolutely need a financial advisor or you are rich enough that you can easily afford a financial advisor.

Or you are saving for a down payment for a house in the Bay Area? There are plenty of other good reasons why someone who wasn't rich would have 500k in the bank without significant other investments.

Re: HSBC is killing my business, piece by piece

#244

Post by isostatic » Mon, Sep 04, 2017, 10:29 PM UTC

Doctor_Fegg wrote: post #227

oneeyedpigeon wrote: post #96

Earlier quoted context omitted.

Their online banking is truly appalling, too. No full history of past payments to make a repeat payment easier. Weird distinction between 'current payments' (or whatever they call the default 'account' screen) and 'past statements' — seems like a hangover from the days when we used to get paper statements. Still a crazily short session timeout. I would add to the list, but I can't login to my account at the moment si…

That infernal physical device is the main reason why I switched from HSBC to Lloyds. Much happier since moving.

I have no problem with a 2FA for sending money, but for just looking at my statement it's crazy. I too stopped using HsBC - after about 15 years (from when it was Midland bank), when that was introduced.

Re: HSBC is killing my business, piece by piece

#245

Post by ntpeters » Mon, Sep 04, 2017, 10:33 PM UTC

Sephr wrote: post #194

noir_lord wrote: post #149

Earlier quoted context omitted.

I have to pay for my linodes on the gf's credit card because HSBC randomly lock my card for suspicious payments. That payment has gone on the same day of the month to the same place since 2009 and they still randomly do it. Last time was three days before Christmas. HSBC are terrible.

Linode credit card info has been hacked so many times that I'm not surprised that HSBC is doing this. For any other service, I'd be upset if my bank did this, but Linode is quite literally the least secure paid service I've ever used. I've had multiple credit cards compromised as a direct result of multiple Linode hacks.

This is one reason I love Final: https://getfinal.com

Set up a separate card number for each site, and that way I don't have to worry if one site is compromised.

Disclaimer: Not affiliated at all, just a very happy customer! :D

Re: HSBC is killing my business, piece by piece

#246

Post by abritinthebay » Mon, Sep 04, 2017, 10:39 PM UTC

seanmcdirmid wrote: post #243

TheCoelacanth wrote: post #179

Earlier quoted context omitted.

If you have 500k in cash in a normal bank account, you are either so financially illiterate that you absolutely need a financial advisor or you are rich enough that you can easily afford a financial advisor.

Or you are saving for a down payment for a house in the Bay Area? There are plenty of other good reasons why someone who wasn't rich would have 500k in the bank without significant other investments.

500k as a down payment? Yeah... that would come under rich.

In that situation you either are rich enough to save that much AND/OR are rich enough to afford payments on a house where that is a sensible down payment rather than a transfer of equity from a sale.

Re: HSBC is killing my business, piece by piece

#247

Post by abritinthebay » Mon, Sep 04, 2017, 10:41 PM UTC

heartbreak wrote: post #221

seanmcdirmid wrote: post #128

Earlier quoted context omitted.

500k is nowhere near rich enough to afford a financial advisor; many people save that much easily for retirement. Maybe 2 million.

A tenth of that in savings is more than enough for an advisor.

Or at least a consultation about how to manage it better than just sitting in a savings account.

Re: HSBC is killing my business, piece by piece

#248

Post by seanmcdirmid » Mon, Sep 04, 2017, 11:13 PM UTC

abritinthebay wrote: post #246

seanmcdirmid wrote: post #243

Earlier quoted context omitted.

Or you are saving for a down payment for a house in the Bay Area? There are plenty of other good reasons why someone who wasn't rich would have 500k in the bank without significant other investments.

500k as a down payment ? Yeah... that would come under rich . In that situation you either are rich enough to save that much AND/OR are rich enough to afford payments on a house where that is a sensible down payment rather than a transfer of equity from a sale.

Ya, to buy a small simple house. Rich is always relative.

Re: HSBC is killing my business, piece by piece

#249

Post by inovica » Mon, Sep 04, 2017, 11:22 PM UTC

Hi. I run SourceGuardian.com. Today I had exactly the same experience!! Whilst I was in the States for 5 weeks I tried to log in to my online banking and received the same message. I just presumed it was their security system recognising I was in the USA and therefore I decided to deal with it when home. Arrived back and made a call, but was told I needed to go to a brand. Went to a branch and they told me they could not help. Eventually I went to another branch and found a sympathetic business manager. Finally I talked with HSBC on the phone again but they say that I must do another call with them, despite me doing one already. My story is exactly the same although I'm just starting - already I have had payments denied and have been told that all funds have been frozen. Of course they're accepting deposits, I just can't take any money out!! Its a nightmare. Tomorrow I am going to see what I can do and who I can call to try to resolve this.

Re: HSBC is killing my business, piece by piece

#250

Post by homarp » Mon, Sep 04, 2017, 11:28 PM UTC

megous wrote: post #104

homarp wrote: post #32

Earlier quoted context omitted.

https://support.apple.com/en-us/HT204034 is "Learn how you can create or use your Apple ID in the iTunes Store without a credit card or other payment method." https://support.apple.com/en-us/HT201266 is "Change or remove your Apple ID payment information"

Works only in some countries.

Can you give more details ?