Alan Kay, Marsascala
Objectional bank fee (1)
I join the other correspondents in objecting to HSBC's imposition of €6 for internet banking.
It is purely an attempt to strengthen the bank's balance sheet at the expense of its personal account holders, disguised as an increase in operating costs. It comes at a time when any bank's reputation is questionable, and as a public relations exercise it is disastrous especially when the level of mistakes committed are higher than ever.
No doubt this will be shown when the current average time of 30-40 minutes taken in Gżira or Sliema High Street branches, for example, for non-internet business, increases, and the bank will realise that internet banking is a two-way street for its benefit and that of its customers.
It has been shown, in the UK especially, that banks have been applying arbitrary charges, illegally, to personal accounts, resulting in refunds amounting to millions, and soon maybe more on the outcome of the test case currently before the courts.
This would appear to be another equally unpopular measure further alienating the banks from their client base.
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David Reiling
Jan 13th 2009, 17:08
just got a response from HSBC they say its due to increases in costs that they have absorbed since the start of internet banking including the supply of the security keyring device... but more interestingly they justify it by saying they have been free where others have always charged - so i supsect they weant their turn now....oh and they believe we should be thankfull for making our banking more secure and efficient.......Hmmmmm
J Bugeja
Jan 13th 2009, 07:49
@ J Micallef
The "inconsequential letter arrived late' that I am complaining about was in fact my PIN number AND debit card which were delivered to another address. Is that "inconsequental".
Have you ever heard of identity theft in your little world?
Peter Murray
Jan 12th 2009, 15:20
Dear Alan.
I agree with you, but what are you and the thousands of other HSBC account holders prepared to do about it?For the banks rely on the inertia of people and their inability or unwillingness to do anything tangible about bank actions or the criteria they implement to operate accounts.ACT DEMONSTRABLY AND FORTHRIGHTLY and let them know that without you they cease to exist..By the way,regarding the case you are referring to in the UK a High Court Judgment has already been handed down in favour of the customers.However,you will not be surprised to learn that the banks are appealing this judgment and hope to drag it through the courts for a long time to come.This is what you all are up against-time to make a stand and say enough is enough!
J Micallef
Jan 12th 2009, 13:58
BOV have done the same thing to me.
After the introduction of the Euro, commercial banks have lost quite a chunk of money that they used to get from their legalised trade in currencies so now they are turning to anything that could boost their bottom line.
And all this in times when banking services have verver been worse. But still, very little people seem to complain, yet every Tom, Dick and Harry is prepared to complain about Maltapost 'cos some inconsequential letter arrived late. Bank charges, interest etc are constantly changing, compared to postal rates which have been unchanged for years.
In my case, BOV drew the internet banking charge from my current account, and since my oney was in the savings, I got in the red, and bingo, was 'automatically' charged interest. BOV computers are very smart indeed.
May I suggest all and sundry to always check the charges appearing on their statements, and not to trust anyone, especially a banker...!
Francis Cassar
Jan 12th 2009, 11:30
What I find objectionable about HSBC is not the internet banking charge. Even BOV has an internet banking charge. Some time last year I transfered money from my own account at HSBC to my own account at BOV. The transfer amount was under € 1000. I inputted my bank account number and was charged € 4 instead of €1. When I queried this, I was told that I should have inputted the IBAN Number. I argued that the IBAN is used for foreign transactions not local. When you transfer from BOV to other local banks, BOV does not require the IBAN number. The IBAN is required only for transfers to foreigh banks. Moreover BOV's internet banking is much more sensible and much more user friendly. If HSBC has to charge for internet banking they should at least upgrade their system.
David Reiling
Jan 12th 2009, 10:11
I have made my complaints to the HSBC and have not even had a response.. typcial - however i have in the meantime switched off the electronic statements in favour of postal ones to initially show my displeasure.