HSBC Online Savings Account

Old Sep 22nd 2002, 1:51 pm
  #1  
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Default HSBC Online Savings Account

Hi,

I was hoping that someone who'd already opened an Online Savings Account with HSBC Australia could answer a few questions for me :

1) Will they open the account without an opening deposit cheque ? I want to get the account details setup so that I can transfer the money electronically and not by cheque ?

2) Where did you send your application to ? It says on the instructions to send it to Sydney but some have said to send it to London ? Also, if it's Sydney, is it free postage as claimed in the instructions or is that just within Australia ?

3) Who did you use for a referee ? We've asked our local Alliance & Leicester branch manager, is that OK ?

Thanks for any help given.
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Old Sep 22nd 2002, 5:21 pm
  #2  
Rob
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Default Re: HSBC Online Savings Account

In iancurtis wrote:
    > Hi,
    > I was hoping that someone who'd already opened an Online Savings
    > Account with HSBC Australia could answer a few questions for me :
    > 1) Will they open the account without an opening deposit cheque ?

yes.

    > I want to get the account details setup so that I can transfer the
    > money electronically and not by cheque ?

not a problem. I did that. Most (all?) banks work this way.

    > 2) Where did you send your application to ? It says on the
    > instructions to send it to Sydney but some have said to send it to
    > London ?

Send it to Sydney.

    > Also, if it's Sydney, is it free postage as claimed in the
    > instructions or is that just within Australia ?

Within Australia. I think it'd have to be explicit about
being free internationally. I've seen a few free international
envelopes/addresses, and that isn't one of them.

    > 3) Who did you use for a referee ? We've asked our local Alliance &
    > Leicester branch manager, is that OK ?

that's your ONLY option if you are outside Australia. It has to be
a bank representitive, and one that has known you (not personally)
for 1 year. All the other referee professions are for Aus
professionals only.
 
Old Sep 23rd 2002, 7:43 am
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Default Re: HSBC Online Savings Account

Excellent, cheers.
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Old Sep 23rd 2002, 2:08 pm
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Default Re: HSBC Online Savings Account

Originally posted by iancurtis:
Excellent, cheers.
Hi,

I am in the process of going through this application at the moment.

I have banked with HSBC in the uk for about 16yrs now. TAKE NOTE you need someone at the bank to be your referee. Magistrates, doctors or police will not be acceptable IF THEY LIVE IN THE UK.
I have to send all the copies of passports/visa's out again for verification.

It's not to much of a hassle, but I thought I would share it as will save you a bit of time and stampage!!

bottom line is...

Get your account manager at HSBC to write you reference. Get them to sign and date the copies of your visa/passport (id 1) and your driving licence (id 2)
Then all should (?) be ok!!

Cheers

Sy.
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Old Sep 23rd 2002, 4:41 pm
  #5  
Rob
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Default Re: HSBC Online Savings Account

In syropes wrote:

    > bottom line is...
    > Get your account manager at HSBC to write you reference. Get them to
    > sign and date the copies of your visa/passport (id 1) and your driving
    > licence (id 2)

The way I read it, the secondary ID is "second choice", for
people who don't posses a passport or document of equal
legal quality. So if you send a copy of the passport, there's
no need for a secondary document.

There's a section on the form to explain why you are
sending a secondary document instead of a primary one.
 
Old Sep 23rd 2002, 7:14 pm
  #6  
Spinach88
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Default Re: HSBC Online Savings Account

Hi, see comments below:

"iancurtis" wrote in message
news:[email protected]
.com
...
    > Hi,
    > I was hoping that someone who'd already opened an Online Savings Account
    > with HSBC Australia could answer a few questions for me :
    > 1) Will they open the account without an opening deposit cheque ? I want
    > to get the account details setup so that I can transfer the money
    > electronically and not by cheque ?

yes, you can open with credit transfer, but you won't get any chequebooks
etc until you have made the transfer.


    > 2) Where did you send your application to ? It says on the instructions
    > to send it to Sydney but some have said to send it to London ? Also,
    > if it's Sydney, is it free postage as claimed in the instructions or
    > is that just within Australia ?

Send it to the International Banking department of HSBC in London. Very
quick and painless.

    > 3) Who did you use for a referee ? We've asked our local Alliance &
    > Leicester branch manager, is that OK ?

I think you have to use your HSBC bank manager in this country as referee.
Don't know if it's possible to open one if you haven't banked with HSBC for
a long time here in the UK. I may be wrong though. When they send the
application pack, they have a leaflet about what references they need. It's
pretty specific.

Benjamin.

    > Thanks for any help given.
    > --
    > Posted via http://britishexpats.com
 
Old Sep 23rd 2002, 8:51 pm
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Default Re: HSBC Online Savings Account

I was under the impression that it didn't have to be an HSBC bank manager. Am I wrong ? The actual phrase from the requirements is :

'International bank employees authorised by their institution to open accounts, where the international bank engages in a transaction with a cash dealer'

Any thoughts ?
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Old Sep 23rd 2002, 11:34 pm
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Default Re: HSBC Online Savings Account

Ian,

Just walk into the largest UK branch of HSBC you can find. Take in all the forms off the web and any id that is required. HSBC will do the rest.

I've banked with HSBC for 20 years but they didn't even check that - seems it doesn't matter.

The reason you need to go into a large branch is that a small branch won't have a f***ing clue what you are talking about.

You don't have to deposit any money to start with, you will still get a letter informing you of your newly opened account and its account number etc. However, until you stick > AUD2000 in there you won't get sent a cheque book and card.

Be aware that the whole process is very slow. Each step takes > 1 month.

Still, it's still better than going to the traditional Aussie banks who charge you the earth.

I think HSBC and the like will really send a wake up call to the Aussie banking system. It's about time some of those dinosaurs started living in the 21st century.
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Old Sep 24th 2002, 8:56 am
  #9  
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Default Re: HSBC Online Savings Account

In iancurtis wrote:
    > I was under the impression that it didn't have to be an HSBC bank
    > manager. Am I wrong ? The actual phrase from the requirements is :
    > 'International bank employees authorised by their institution to open
    > accounts, where the international bank engages in a transaction with a
    > cash dealer'
    > Any thoughts ?

Use your own bank.

HSBC.au will reject (as they did to mine) a form completed
by a HSBC bank rep who hasn't known you (as a customer)
for 12+ months.
 
Old Sep 24th 2002, 9:01 am
  #10  
Rob
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Default Re: HSBC Online Savings Account

In etlniwd wrote:
    > Ian,
    > Just walk into the largest UK branch of HSBC you can find. Take in
    > all the forms off the web and any id that is required. HSBC will
    > do the rest.

Well they didn't for me. The local branch was clueless
about opening foreign accounts.

    > I've banked with HSBC for 20 years but they didn't even check that -
    > seems it doesn't matter.

I did to me. I wasted about 3 weeks (when I was in a rush to open
the account) by using HSBC (as a HSBC.au rep suggested) instead of
using my own bank as the referee.

    > The reason you need to go into a large branch is that a small branch
    > won't have a f***ing clue what you are talking about.

that's true, but then, HSBC.au didn't care what size branch I used,
the HSBC referee didn't know me so my original application was
rejected.

    > Be aware that the whole process is very slow. Each step takes > 1
    > month.

Took me about 1 week to go from a valid application form to
having the account details emailed to me. This happened in the
last month.

--
http://www.imdb.demon.co.uk/Aus/li-
nks.html

 
Old Sep 24th 2002, 9:52 am
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Default Re: HSBC Online Savings Account

that's true, but then, HSBC.au didn't care what size branch I used,
the HSBC referee didn't know me so my original application was
rejected.

If thats the case, how did you find a correct referee??
I am in the same dilemma! I was about to nip into the small local branch to get this sorted. I was advised by my OWN bank to do this! What a pain.. So from what has been said so far, the best thing I can do is go BACK to my OWN branch and get them to sort it out. Thing is my account manager has left. bit of a problem that!! any suggestions!?!

cheers

SY
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Old Sep 24th 2002, 10:11 am
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Default Re: HSBC Online Savings Account

Hi again,

Just spoken to HSBC here in the UK. Apparently according to them, armed with our I.D.'s we can go into any HSBC branch and get a HSBC staff member to verify we are who we say we are. This should be enough to fill in the S21 form and sign copies of the ID.
From what has been said before on this thread it isn't enough.

I explained the situation of HSBC staff's reference being rejected because they do not the applicant for more than 12 months.

This seemed to stump HSBC at this end!!

They are checking into it and will get back to me.

As soon as I find out what the deal is I will add it to this thread..

talk about burning blinkin hoops!!!


cheers

SY.
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Old Sep 24th 2002, 10:54 am
  #13  
Mark
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Default Re: HSBC Online Savings Account

    > I was under the impression that it didn't have to be an HSBC bank
    > manager. Am I wrong ? The actual phrase from the requirements is :
You are correct, it does not have to be an HSBC bank manager. Mine was
completed by the manager at my branch of Royal Bank of Scotland. I
sent the completed forms to Sydney and received notifcation via email
of the account number just over week later.
 
Old Sep 24th 2002, 3:06 pm
  #14  
Rob
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Default Re: HSBC Online Savings Account

In syropes wrote:
    > that's true, but then, HSBC.au didn't care what size branch I used,
    > the HSBC referee didn't know me so my original application was
    > rejected.
    > If thats the case, how did you find a correct referee??

I used my bank (Abbey National). Been with them for 20+ years.

    > I am in the same dilemma! I was about to nip into the small local
    > branch to get this sorted. I was advised by my OWN bank to do this!
    > What a pain.. So from what has been said so far, the best thing I can
    > do is go BACK to my OWN branch and get them to sort it out. Thing is
    > my account manager has left. bit of a problem that!! any suggestions!?!

They don't need to know you personally, or be able to reckognise you.
They just need to have you as a customer for 1+ years.

Take along your passport, and also any other ID you might have
handy - an old bank statement might be useful. I was asked to
show a credit card as extra proof of ID.
They can then certify your passport copy and complete the form.

Don't leave the bank until they've completed the form. The rep
at my bank said "we don't usually help with these requests", so I
just asked to speak to the manager. No point arguing with a sales
droid, go straight to the top and tell him/her that he/she is the
only person in the UK who can complete the form for you.
 
Old Sep 24th 2002, 3:11 pm
  #15  
Rob
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Default Re: HSBC Online Savings Account

In syropes wrote:
    > Hi again,
    > Just spoken to HSBC here in the UK. Apparently according to them,
    > armed with our I.D.'s we can go into any HSBC branch and get a HSBC
    > staff member to verify we are who we say we are. This should be enough
    > to fill in the S21 form and sign copies of the ID. From what has been
    > said before on this thread it isn't enough.
    > I explained the situation of HSBC staff's reference being rejected
    > because they do not the applicant for more than 12 months.
    > This seemed to stump HSBC at this end!!


Here's the email I had from HSBC..

"We received your ID forms, but they were incomplete.
Your suitable referee must know you for more than 12 months.
This was not indicated on your application (S21 form). Your
forms were sent back to the address indicated on your application
for you and your referee to correct. You should receive
them shortly."

I asked them to check because they were the ones who advised me to
use HSBC.uk. They came back with..

"We are sorry for the misleading information we gave you.

When an overseas HSBC Branch staff member verifies your ID
through this S21 form, the referee must state that they know
you for more than 12 months, in the Step 4, Q8 part."


    > They are checking into it and will get back to me.

Whatever they say, get the form signed by your own bank. You'll
be mightly pissed off if the forms come back rejected as they
did for me.
 

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