HSBC Premier want to charge for Sh*te service
#16
Re: HSBC Premier want to charge for Sh*te service
I have had a BoA account for 10 years. I got a mortgage 3 years ago which happened to be with Suntrust, and they "gave" me a current account on that basis. The assumption was I would transfer all boa business to Suntrust, but I did not.
I simply transfer the mortgage money to the suntrust account each month. This cost a few dollars to do electronically, so for the past year, I have been drawing cash at the boa atm a block from my office, and walking to the suntrust atm across the street, to deposit it. Takes 10 minutes and costs nothing, but is somewhat archaic.
I simply transfer the mortgage money to the suntrust account each month. This cost a few dollars to do electronically, so for the past year, I have been drawing cash at the boa atm a block from my office, and walking to the suntrust atm across the street, to deposit it. Takes 10 minutes and costs nothing, but is somewhat archaic.
Last edited by Michael; May 26th 2013 at 2:10 pm.
#17
Re: HSBC Premier want to charge for Sh*te service
edit: the free-ness of the suntrust account is based on the mortgage being paid out of it.
I could have part of my pay deposited in suntrust, but it seems so convaluted.
Last edited by RICH; May 26th 2013 at 2:28 pm.
#18
Forum Regular
Joined: Jan 2010
Location: Stamford, CT
Posts: 200
Re: HSBC Premier want to charge for Sh*te service
Yes I can set up auto pay for utility bills. However, if I want to transfer money to my wife's account (she banks at the same HSBC branch as me) I need to write her a check.
I wanted to set up a regular electronic payment to my landlord for rent payments, again he banks at the same branch of HSBC as me. I can do this online, although they end up mailing him a physical check.
If I want to pay an invoice, I can't do a one time electronic transfer - again I can do it online although that ends up in a physical check being mailed from the bank.
There is still progress that needs to be made.
I wanted to set up a regular electronic payment to my landlord for rent payments, again he banks at the same branch of HSBC as me. I can do this online, although they end up mailing him a physical check.
If I want to pay an invoice, I can't do a one time electronic transfer - again I can do it online although that ends up in a physical check being mailed from the bank.
There is still progress that needs to be made.
#19
Re: HSBC Premier want to charge for Sh*te service
But if you don't use it except to pay your mortgage, why keep it?
#22
Re: HSBC Premier want to charge for Sh*te service
Wells Fargo has bill pay to SunTrust and suspect B of A has also. That should be different than you as the payee.
You can probably also get them to debit that amount monthly from your B of A account if you didn't want to bother with bill pay. You'll probably need to physically sign an agreement with SunTrust authorizing direct debit of your B of A account.
You can probably also get them to debit that amount monthly from your B of A account if you didn't want to bother with bill pay. You'll probably need to physically sign an agreement with SunTrust authorizing direct debit of your B of A account.
Last edited by Michael; May 26th 2013 at 3:29 pm.
#23
Re: HSBC Premier want to charge for Sh*te service
Yes, there is, but most of it is now up to the banks to implement the technology, it is not "the system" that is to blame. Bank-bank, account-account transfers are possible, but it is taking time for many banks to catch up.
#24
Re: HSBC Premier want to charge for Sh*te service
It may be possible to "pull" from boa to suntrust for free, but I have found it not free to "push" from boa to suntrust. I will need to investigate Suntrust online further.
#25
Re: HSBC Premier want to charge for Sh*te service
Agreed. I bank at a local bank with maybe a half dozen branches. Accounts are free in most ways. The online banking is free and actually useful, with token cards instead of 'golden questions'. I get about five different ways of doing electronic transfers for free, although I really only use ACH (which is usually good for next day) and very occasionally wire. I'm not even sure what the others are good for. I can do international wires for free if in US$, or for a fee in another currency. I can get that currency in cash for the exchange rate plus a flat $2.50, although I haven't done such a thing in at least a decade. They underwrite all their own mortgages and never sell them. More than 0.1% interest would be great, but that's been explained above. If you want a decent return, the bank isn't the place to put your money anyway. My only complaint is that I get charged for ATMs out of my area, but I have another account elsewhere for that, and as I mentioned, I can ACH the money over for that.
#26
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Thread Starter
Joined: Jan 2011
Location: West Sussex - did 3 years in the US...
Posts: 577
Re: HSBC Premier want to charge for Sh*te service
Thank goodness now most of us have stopped using cheques and BACS is virtually instantaneous including to the rest of the EU 24/7.
I had not been in a bank branch for over 20 years before moving here - no need given that telephone banking has been around since the mid-80s. TBH all these quasi-public services (phone, mobiles, Internet, public transport, electricity, banking, etc) seem so uncompetitive and stuck in the dark ages here....
#27
Lost in BE Cyberspace
Joined: Oct 2003
Posts: 22,105
Re: HSBC Premier want to charge for Sh*te service
Progress !!!! I have moaned and moaned how backwards UK banks are - electronic payments outside the UK used to be unheard of but the norm in most other EU banks. Cheques took 3-5 days to clear, and BACS transfers the same. This is Byzantine by comparison.
Thank goodness now most of us have stopped using cheques and BACS is virtually instantaneous including to the rest of the EU 24/7.
I had not been in a bank branch for over 20 years before moving here - no need given that telephone banking has been around since the mid-80s. TBH all these quasi-public services (phone, mobiles, Internet, public transport, electricity, banking, etc) seem so uncompetitive and stuck in the dark ages here....
Thank goodness now most of us have stopped using cheques and BACS is virtually instantaneous including to the rest of the EU 24/7.
I had not been in a bank branch for over 20 years before moving here - no need given that telephone banking has been around since the mid-80s. TBH all these quasi-public services (phone, mobiles, Internet, public transport, electricity, banking, etc) seem so uncompetitive and stuck in the dark ages here....
It's been pretty effortless for us, but we aren't talking high stakes here.
#28
Re: HSBC Premier want to charge for Sh*te service
May I politely suggest you either get over it and find something more important to worry about, or if your banking experience is so central to your quality of life that you leave the US and go somewhere else. I hear that South Korea has a particularly high tech banking system.
#29
Re: HSBC Premier want to charge for Sh*te service
I've adjusted to the banking system here, but I have one issue that I just cannot sort out.
We had a loan on a car we traded in last year, the payment was set-up to come out of our joint bank account, by me on our Internet banking. Around 4 years ago we had a fraudulent charge on our account, the bank cancelled our cards, and closed our Internet banking account, saying because it was linked to the card it had to be closed. I had to set-up the Internet banking again. As it has a different user name, it no longer shows me the payment to Ford, so no way for me to cancel it.
I've spoken to the bank several times, and they say the only way I can stop the monthly payment is by closing my account, and re-opening a new one
When I finally get around to it, I will close the account, but I will go elsewhere to open a new one. I can't believe this is the only solution, what a ridiculous situation.
We had a loan on a car we traded in last year, the payment was set-up to come out of our joint bank account, by me on our Internet banking. Around 4 years ago we had a fraudulent charge on our account, the bank cancelled our cards, and closed our Internet banking account, saying because it was linked to the card it had to be closed. I had to set-up the Internet banking again. As it has a different user name, it no longer shows me the payment to Ford, so no way for me to cancel it.
I've spoken to the bank several times, and they say the only way I can stop the monthly payment is by closing my account, and re-opening a new one
When I finally get around to it, I will close the account, but I will go elsewhere to open a new one. I can't believe this is the only solution, what a ridiculous situation.
#30
BE Forum Addict
Joined: Feb 2010
Location: Temecula, CA
Posts: 4,759
Re: HSBC Premier want to charge for Sh*te service
I've adjusted to the banking system here, but I have one issue that I just cannot sort out.
We had a loan on a car we traded in last year, the payment was set-up to come out of our joint bank account, by me on our Internet banking. Around 4 years ago we had a fraudulent charge on our account, the bank cancelled our cards, and closed our Internet banking account, saying because it was linked to the card it had to be closed. I had to set-up the Internet banking again. As it has a different user name, it no longer shows me the payment to Ford, so no way for me to cancel it.
I've spoken to the bank several times, and they say the only way I can stop the monthly payment is by closing my account, and re-opening a new one
When I finally get around to it, I will close the account, but I will go elsewhere to open a new one. I can't believe this is the only solution, what a ridiculous situation.
We had a loan on a car we traded in last year, the payment was set-up to come out of our joint bank account, by me on our Internet banking. Around 4 years ago we had a fraudulent charge on our account, the bank cancelled our cards, and closed our Internet banking account, saying because it was linked to the card it had to be closed. I had to set-up the Internet banking again. As it has a different user name, it no longer shows me the payment to Ford, so no way for me to cancel it.
I've spoken to the bank several times, and they say the only way I can stop the monthly payment is by closing my account, and re-opening a new one
When I finally get around to it, I will close the account, but I will go elsewhere to open a new one. I can't believe this is the only solution, what a ridiculous situation.