Household HSBC Watch

From the UK on 6 December: HSBC has become the second bank in less than a week to issue a stark warning on the debt crisis affecting British consumers.

The bank said yesterday the rising tide of bankruptcies and individual voluntary arrangements - a less drastic substitute enabling consumers to become debt-free in five […]

HSBC’S top executives are to lose out on their lucrative performance bonuses this year as a result of the chronic underperformance of the company’s shares.

Britain’s biggest bank has been one of the poorest performing stocks in the FTSE100 index this year, and one of the worst performing bank stocks in the world, because of worries […]

HSBC has a list of almost 30,000 Farepak customers who could be eligible to claim back millions of pounds lost in the company’s failure, but is barred from alerting them under data protection laws.

Anyone who paid Farepak through Visa or MasterCard is entitled to claim back their money under the chargeback scheme, which repays […]

LONDON (Reuters) - HSBC Holdings has become the first major bank to say it will start charging for a current account, raising the prospect that other lenders will end free banking.

HSBC’s online banking arm First Direct is to charge 10 pounds per month for customers who do not deposit 1,500 pounds per month or maintain […]

An HSBC network crash left thousands of customers without cash and unable to use their debit and credit cards at the weekend.

The outage meant HSBC and First Direct customers were faced with service messages when trying to take out cash at ATMs or they had their cards declined when trying to pay in shops or […]

HSBC, which derived about 80 percent of its pretax profit from outside the U.K. in the first half of this year, moved to London 13 years ago following its purchase of Midland Bank Plc, one of Britain’s top four banks at the time. The Bank of England ruled that HSBC would only be allowed to […]

Oct. 6 (Bloomberg) — HSBC Holdings Plc, Europe’s biggest bank by market value, said moving its headquarters away from the U.K. would save the lender about 400 million pounds ($750 million) a year.

Taxation and regulations are HSBC’s main considerations in deciding where the company is domiciled and it reassesses these every three years, said […]

Over 420 votes are in and HSBC credit cards are ranked as poor or unprofessional by 80 percent of those who voted. See the survey here. However, Ken Harvey, HSBC’s chief information officer, told analysts at a presentation the bank would reap the rewards of its global scale as well as its […]

Stephen Prentice, vice president and distinguished analyst at Gartner, told vnunet.com that the existing financial services industry was unlikely to exist in 20 years’ time.

“Ten or 15 years ago, people trusted banks. Nowadays banks in the UK realise that most of their customers don’t actually trust them. They don’t even like them. They only […]

BROKEN PROMISE: HSBC has reneged on a a vow that its satandard variable rate would not go higher than 1% above base rate.

Anyone taking out a mortgage with HSBC since March will have been told their loan will revert to the bank’s variable rate at 1.25% above base when their current deal […]