Another HSBC Achievement
Customers hit by HSBC charges hike
HSBC Middle East has announced a series of tariff increases for its services to new and existing customers.
The bank has increased the monthly service charge for its Status customers by 43 percent to 100 dirhams ($27). It has also announced it will charge customers for new chequebooks for the first time.
The new charges will affect HSBC Bank Middle East customers throughout the UAE, and come into effect on September 1, the bank said.
While the first chequebook is free with every chequing account, HSBC will now charge its customers 25 dirhams ($7) for each subsequent chequebook.
The bank is also halving the number of free over-the-counter transactions allowed to each client every month, and doubling its card replacement fee for lost or damaged ATM cards to 50 dirhams ($14).
Earlier this week, a study by global management firm A.T. Kearney found that poor customer service is costing the GCC banking sector hundreds of millions of dollars in lost potential revenue every year.
Challenges including too few skilled resources, lack of product transparency, limited responsiveness and follow up on customer requests, as well as poor multi-channel offerings, especially online and with phone banking, are resulting in unhappy GCC customers, the report said.
“GCC banking executives would do well to remember that a happy customer increases a bank’s profits. Banks in the US generate an additional $1 billion in deposits if they can make just five percent of their customers highly satisfied,” said Dirk Buchta, managing director, AT Kearney Middle East.
Research by AT Kearney had found that a five percent increase in customer retention increases product profitability by 20 to 80 percent.
Arabian Business contacted HSBC Middle East but no-one was available to comment on Thursday.
hsbc for sure put a hole in your pocket. their service somwhat good but they always try to get money from the customers. loan rates are the highest and if you try to close a account they try to get more money from you as vrious charges. my personal experince is not to open an account in hsbc qatar. hsbc you can find everywhere in the world and they will come to your grave to get a one reayal you owe with muliple charges added to it. worldwide they are loosing the business. there target is third world countries money lending at higher interests
of course i know how to login my account but this morning i tried to open it but its not working!
This HSBC sucks very deposits you made thru counter you have to pay 10 riyals!
so what's the good bank than!!???
Tearful banking with HSBC....Disgraceful - just makes me feel like a stupid idiot...
And commercial bank...their Charges are outrageous...
I have been to 3 commercial banks...just trying to give back the credit card......
I feel well and truely robbed...much more than any pickpocket... really uspsetting.
both of them... are like leeches
I can access to my acount without any problem. but i join the point about the high fees and bad services....
Just a tip .. When you click on "Logon" a redirection window opens up (a blank white screen). Do not close but minimise it & click at "Logon" again on the homepage. That will take you to the Log-in Page. Should work!!
I cant even login to my account this morning! Automatic redirection is not working!
increasing charges they can't even give you customer satisfaction!
I hated my experience with HSBC so much that i was happy to pay huge fees to close my accounts with them and move to another bank. HSBC is significantly more expensive than other banks and its staff are vile and rude. they seem to hire the most inept people with unfounded superiority issues. The HSBC customer service experience is by far the worst in the GCC......perhaps second only to Zara Home in Villagio.....