Household HSBC Watch

In another move designed to alienate customers HSBC will stop paying interest on current accounts. Not satisfied will aggravating customers in the United States with computer malfunctions that delayed direct deposits, HSBC found a way to anger even more customers. It is a trait learned from HSBC Finance. Granted, not paying interest on current accounts in the U.K. does little for customers, but it will save HSBC approximately £7million a year. It is the thought that HSBC simply says ‘this is how it is and shall be!’

From 50 percent interest rates in India to subprime wreckless lending in the United States, HSBC has been busy making customers mad. Payments are declared to be late payments, and forced to pay out millions of pounds to customers who reclaimed charges imposed for accidentally slipping overdrawn, HSBC is a public relations nightmare. Perhaps a new slogan should shout “If you are not Arab, Chinese, or Indian we don’t need you.” The World’s Local Bank, my arse.