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HSBC exits US mass market retail banking

about.us.hsbc.com

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Re: HSBC exits US mass market retail banking

#51

Post by sofixa »

owenversteeg wrote: post #39
listenallyall wrote: post #28

Earlier quoted context omitted.

Citibank may not be your favorite bank, but if you travel a lot, they have branches in many of the world's largest cities. I've been able to get local currency out of many Citi ATMs abroad with zero fees or problems.

Looks like they have branches in 25 countries, which is pretty nice, but they don't have quite as much as I'd have expected in Europe. Does anyone else have another suggestion for a good international bank?

Well depends on what you want - if you want branches, no idea; but if it's just for withdrawals in local currency with no fees, N26 are pretty good.

Re: HSBC exits US mass market retail banking

#54

Post by kjaftaedi »

listenallyall wrote: post #28
kylehotchkiss wrote: post #14

I signed up for HSBC a few years back thinking they were a good “international” banking choice for people with ties abroad. Sure there are (were) HSBC locations in other countries but they wouldn’t treat you any different than a stranger on the street unless you had $100,000 in accounts there. Their international transfers and account opening services were very meh. Around the same time, I adopted Transferwise (now j…

Citibank may not be your favorite bank, but if you travel a lot, they have branches in many of the world's largest cities. I've been able to get local currency out of many Citi ATMs abroad with zero fees or problems.

It's not common for any bank to charge for this.

When you take money out of ATM machines abroad, the bank's fee is worked into the exchange rate they apply to you.

Re: HSBC exits US mass market retail banking

#55

Post by ksec »

desdiv wrote: post #11

HSBC also previously exited mass market retail banking in Japan, Korea, Brazil, and Turkey. (There's probably more, these are just the first ones I found.) Japan (actually exited both mass market and Premier retail banking): https://www.japantimes.co.jp/news/2012/02/24/business/hsbc-t... Korea: https://www.wsj.com/articles/SB10001424127887324853704578587... Brazil and Turkey: https://www.ft.com/content/85642fcc-e50d-…

I actually thought they exited the US mass market post 2008. Or may be they keep saying they are going to exit without actually doing it.

Re: HSBC exits US mass market retail banking

#56

Post by markl42 »

bsd44 wrote: post #49
markl42 wrote: post #27

Good. When I moved to the US from the UK, I already had British HSBC accounts, so thought it made sense to open up an HSBC account and credit card. Got a $200 credit limit (thanks?), awful app, terrible customer service...eventually got fed up and closed all my accounts. Good riddance. Also side note while I’m on the topic - to log into chase and do stuff, I enter my password. That’s it. To log into HSBC or any other…

I've been with HSBC for over 10 years and never experienced any problems even though I'm fairly allergic to dumb UX. I use the iOS app which has 2FA (touch id) to do everything. Last time I logged in via a web browser was years ago, I can't even remember the interface. I can't quite agree with you as I think more security layers are better when it comes to your personal bank account. With that said HSBC is not the be…

More security layers doesn’t always == better security

The “nth nth and nth” character of your password means they’re storing your password in plaintext, and Auntie Nora is more likely to have it written on a postit cos she can’t use a password manager.

“Name of your first school” etc type questions are obviously awful

My favorite is HSBC kept asking me to enable “voice identification” every time I phoned up as a “more secure way” of authenticating myself...which to me smells like a cat and mouse game between who has the better ML model. Oh also https://www.computing.co.uk/news/3010450/hsbc-voice-recognit...

Re: HSBC exits US mass market retail banking

#57

Post by hammyhavoc »

markl42 wrote: post #27

Good. When I moved to the US from the UK, I already had British HSBC accounts, so thought it made sense to open up an HSBC account and credit card. Got a $200 credit limit (thanks?), awful app, terrible customer service...eventually got fed up and closed all my accounts. Good riddance. Also side note while I’m on the topic - to log into chase and do stuff, I enter my password. That’s it. To log into HSBC or any other…

To login, I just use my fingerprint.

Re: HSBC exits US mass market retail banking

#58

Post by mgh2 »

mgh2 wrote: post #23

I am still choosing carefully my next bank without a dirty history. The majority had unethical or sinister practices: HSBC & Capital One (money laundering), Chase (gold & silver spoofing), Goldman Sachs (mortgage crisis), Wells Fargo (fake accounts), Robinhood (sort of a bank, gambling), etc. https://www.youtube.com/watch?v=FSh8eusFYL4&ab_channel=ColdF... Charles Schwab seems ok so far. Still researching... feedback…

More reference: https://ecocult.com/trying-find-ethical-sustainable-bank-one...

Re: HSBC exits US mass market retail banking

#59

Post by listenallyall »

kjaftaedi wrote: post #54
listenallyall wrote: post #28

Earlier quoted context omitted.

Citibank may not be your favorite bank, but if you travel a lot, they have branches in many of the world's largest cities. I've been able to get local currency out of many Citi ATMs abroad with zero fees or problems.

It's not common for any bank to charge for this. When you take money out of ATM machines abroad, the bank's fee is worked into the exchange rate they apply to you.

Taking money out of a Citi ATM overseas (assuming you have a domestic Citi account) is fee-free and with better exchange rate you'll find at any local currency exchange. In my experience, at least. YMMV.
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