I am thinking of opening HSBC Bank account, any feedback please

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
12/03/2011 06:38

For instance, what constitutes a Premier customer, do you have to have a Debit/Credit card to be one?

Experience of service, is it good? Advice from existing customers appreciated.

yenibob


Joined: 13/10/2010
Posts: 1203

Message Posted:
12/03/2011 07:06

Hi Polly. I tried to open an HSBC account in Famagusta about 4 years ago. The lady who was dealing with me wanted to leave and go for her lunch so kept putting obstacles in my way....You have to have this....and you have to have this etc etc. I had everything I needed to open the account, but in the end she just said can you come back in the morning. I never did and in fact have never opened a TRNC account.

Never really needed one (even for 4x Residency). I pay my bills cash and use Nationwide to draw sterling and then convert to TL or Euros as needed.

Hoylemiller



Joined: 03/09/2010
Posts: 240

Message Posted:
12/03/2011 07:30

Hi Polly, you need 60k to qualify for a Premier account. And you don't have to be a debit/credit card holder either. The benefits that come with it are excellent their e-saver accounts give you a good return of interest,

you can transfer money anywhere immediately for free.

Always had great service from them.

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
12/03/2011 07:39

we quit HSBC years ago after having to call out twice for pizaa delivery while in the queue.

they promised other branches etc and never delivers

Tukbank and Is Bank offer a better service by far, Tukbank also have branches out of town, net banking, DD bill payment, and we find better all round.

andrew4232



Joined: 04/07/2009
Posts: 1543

Message Posted:
12/03/2011 08:15

HSBC has one of the lowest interest rates going

mrsgee


Joined: 23/06/2009
Posts: 396

Message Posted:
12/03/2011 08:29

We have accounts with HSBC. We have one at the Girne branch, for which you need min 75,000 TL to qualify for premier, £30,000 in sterling. This can be linked to your UK account, which qualifies that one as Premier too, even if you do not hold the required £50,000 to qualify. All transactions are then free under the Premier account. There are also other benefits, such as access to your own personal manager so you don't wait in queues. The manager at Girne branch is Dilek Lo who is excellent. You can transact on line, and have all the normal functions that you get with a UK based account. Also, free travel insurance, and access to the VIP lounges at airports. The rate is not as good as some of the banks, so maybe consider spreading your investment depending how much you have. Garantibank offer good rates, and again a personal manager. We have no complaints, get better service than we ever did in UK, and are more than happy with Dilek. Hope this helps.

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
12/03/2011 08:42

mrsgee



You have explained it well, thank you. I do have worries about TRNC OWNED banks because of the current situation here and have a signficant amount in two so really what I am trying to achieve is safety for my

money having lost so much here already. I am aware the rates could be better eslewhere but peace of mind is important too.



I am not saying anything bad about any bank, just wanting to feel secure in my mind.

mrsgee


Joined: 23/06/2009
Posts: 396

Message Posted:
12/03/2011 08:56

No problem Polly.....having worked in banking for 25 years in the UK, and seen some of the pitfalls....I also prefer peace of mind. Perhaps a chat with Dilek and/or Tanya at Garanti would help you with your decisions. Good luck.

gates


Joined: 08/12/2008
Posts: 1096

Message Posted:
12/03/2011 09:15

dont they are the worst on the island and charge to open and also chage for a current account they are also a fantise so the english rules dont aply your no safer than with any other bank only thing is the intrest is less and they charge more

mrsgee


Joined: 23/06/2009
Posts: 396

Message Posted:
12/03/2011 09:25

Gates 20lira to open account, same as Garantibank.There are no charges for running the current account, but maybe this just applies to Premier.



HSBC is not a franchise...it is part of HSBC group but, as I understand it, registered in Turkey not UK, which is not an unusual arrangement for an international bank. If it was simply a franchise then how would it be possible to link the Turkish and the UK accounts and consolidate the benefits?



At the end of the day, it's all about personal choice, so no harm in going and speaking to the banks in question and clearing up any doubts that way.

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
12/03/2011 09:32

gates - now you've got me worried. I know they are a franchise of the Turkey HSBC but was told if you were Premier customers there, you would be one in any HSBC BANK all over the world. Also had the double security of the Central Bank TRNC (which doesnt reassure me) but also Turkey HSBC (which to some extent does reassure me) They say they do not have T.C. owners as with a lot of Banks here.



Unfortunately, GARANTI Bank is not for me, I did bank there when I first came here 5 years ago and was

diddled for £20, more fool you if you con me once, more fool me if you con me twice. so wouldn't give them a second opportunity.

susiesusie


Joined: 09/03/2009
Posts: 337

Message Posted:
12/03/2011 09:43

regarding message 6..... can agree entirely with you. all figures are correct as was told on thursday by julie (english person there). have banked with them for 6 years. Premiere lira account 7.9 % (was told that anyway). rates just gone up although you can still get better elsewhere without having to be a premiere account holder. Credit west is 8% but internet banking is a non starter whereas hsbc is great.

mrsgee


Joined: 23/06/2009
Posts: 396

Message Posted:
12/03/2011 09:45

ok for a clearer explanation of HSBC in Northern Cyprus have a look at HSBC AS in Wikipedia...gives some facts.

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
12/03/2011 09:47

sorry go that wrong apparently, not a franchise but connected to Turkey HSBC.



I did open a current account there yesterday and paid 18 lire in what they called stamp duty but noticed it was credited to the Lire Account, also opened a Sterling account which has a nil balance as I intend to transfer

money into both this Monday from another T.C. OWNED Bank and needed the account numbers for the transaction. I realise these are both current accounts and intend to transfer to deposit as soon as money is received, which should be the same day.

I was just after feedback before I finally commit.

mrsgee and Hoylemiller, you both sound happy with HSBC



I have to say I am happy with both the banks I use at present and the staff are great, I just feel the need to

secure my money as the future here is so uncertain.

Jefferson


Joined: 17/05/2010
Posts: 360

Message Posted:
12/03/2011 09:49

Message 11. Don't worry about the franchise situation. This is just scaremongering by people who don't know any better. The bank is part of HSBC worldwide. I opened my Girne account in the UK. All the paperwork was filled in at the local HSBC branch and as a UK Premiere customer I automatically became a Premier customer in the TRNC.

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
12/03/2011 09:52

Scaremongering on here Jefferson, never )

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
12/03/2011 10:00

susiesusie and Jefferson, thanks for advice.



I will qualify to be a Premier Account holder and was quoted 7.9% on lira.

ClareW


Joined: 11/02/2009
Posts: 53

Message Posted:
12/03/2011 10:47

I would endorse everything said by mrsgee - we have had a HSBC account here for years and are very happy with it. The service is great and hardly any queues at Famagusta branch where the staff are helpful and efficient too. We were also concerned at the stories about it being a franchise (although we couldn't believe that an international bank would allow a franchise ????) so we checked in the UK and they put our minds at rest completely. They also went on their internal computer system in the bank and showed us the name of the person who had opened our account in TRNC on their personnel system. We use the online service all the time and once you have got it set up it is easy to use (much easier now than it used to be) and the online security is high which is always a concern.

Can't comment on Girne services.

Clare

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
12/03/2011 11:40

Thanks everyone, I guess I wil go ahead with HSBC

Hoylemiller



Joined: 03/09/2010
Posts: 240

Message Posted:
12/03/2011 16:38

Wise decision.... love the personal attention...

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
12/03/2011 17:23

Thank you all for taking the trouble to post.

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
14/03/2011 10:04

Just so you know I was not wasting your time, I did it, today I transferred by sterling and lire from a Turkish Cypriot family owned Bank to HSBC. Seems I will need a debit card if only to get the benefits of being a Premier Account customer, makes sense really, I dont think my word would be enough to gain me access to the VIP LOUNGE AT THE AIRPORTS. Apparently there is no cost involved in having a debit card.



Again, than k you all who took the time to post and give me your advice.

gates


Joined: 08/12/2008
Posts: 1096

Message Posted:
14/03/2011 10:13

been there dont left it i tryed to open an account here in england with no luck diferrnt rules aply and it is a francise

pollymarples


Joined: 08/08/2010
Posts: 1778

Message Posted:
14/03/2011 10:36

gates, if it doesnt pan out, I can change again. No big deal.