HSBC DISASTER

[flareflyer]

i have HSBC since when i joined a while ago......they keep messing everymonth with something different......i now gave up......any suggestion for a less worst bank in Dubai?
Possibly with some more expats from the west if possible......
Please....Help!!!!!:ugh::{:{:{

[what_goes_up]

Dealing with Emirates NBD... Still a bank but quite helpful compared to HSBC which I was with before.
Convenient with a branch at EGHQ.

[flareflyer]

I am looking for a bank with at least a minimum of western employees to deal with......... had enough with the others........
is standard chartered the same????

[pfvspnf]

HSBC is a disaster, some of the local banks aren't too bad, try ADCB

[MrMachfivepointfive]

Standard Chartered? Avoid! Avoid! Avoid at all cost. They tried to fraud me out of 25k by claiming at closure of the account that I did not pay back loans I never had with them.

[flareflyer]

Thanks Mach....... I will avoid......

[gehenna]

Flareflyer

You may be aware that the HSBC here is just a franchise; ie some local outfit pays to use the HSBC name, and in return has to abide by their 'code of conduct.'

I had grief here some years ago, and they refused to address the problem. I emailed the CEO of HSBC worldwide, and within a very short time the idiots here were sorted out; maybe you could try the same. The email address is;

[email protected]

Worth a try .............

[jack schidt]

ENDB is convenient as in EGHQ and appears to be a good bank to chose to ease through the leaving process at the end of your time here, so get ahead on that front.

You cannot expect to live/work in the ME and see many Westerners operating the teller positions.

Mashreq No way, was a disaster, HSBC > never been there as too many like you have had sooo many problems, the rest ??????

By choice of a bad bunch, I recommend ENDB

Lloyds bank was what you are ideally looking for but the jumped on the last ship (expat banks operated by westerners) about 3 years ago.

J

[Kapitanleutnant]

The best you'll ever do with Dubai Banks are as you said… the lessor of the evils.

I will say I started with HSBC but changed myself not long ago to Emirates NBD as many have stated, they have the branch at EK hdqtrs. Also I found out Emirates NBD has more ATM cash machines than any other bank.

K

[FlyTCI]

I recently emptied both of my HSBC accounts. I didn't even bother to close them. Have had nothing but issues with them and no help trying to talk to branches out in the "normal" world as they have nothing to do with the UAE branches. So much for being the world's biggest bank, one of the main reasons I opened my accounts with them to begin with.

Good riddance..

[Spoogie]

Hey TCI,

Just a heads up!! I am not sure what kind of account you had with HSBC, but be cautious. Some of the banks impose a minimum balance requirement on the accounts. They will magically charge you a low balance fee, which would accumulate and make in debt to the bank. Would not want to have your name on a list for owing banks here. So probably better to tell them "close the account" and kiss your A$$ goodbye:ugh:.

Spoogz

[FlyTCI]

Thanks spoogz, will look into that.

[palm]

10 years with HSBC, few minors issues but overall good experience. Just make sure you ask what you want until you get it.

[skysod]

Been with HSBC (Premier account) here now for over 5 years and always had excellent service!

[The Guru]

Emirates NBD is a pretty good local bank by all measures, with a great ATM network in the UAE, and plenty of support from the girls in the EGHQ branch.

That said, as an expat who is looking for an international bank, I would recommend HSBC over the others. I've govt HSBC (Premier) and the services they provide are solid - they are definitely not the cheapest, they do sting you with fees and have appalling forex rates, but they have a good ATM network both in the UAE and globally, a good website for various types of electronic transfers and transactions, and pretty good digital FOB security.

I think the key with using HSBC is not to setup anything from scratch with the back office staff in Dubai. Get your accounts set up in your home country, get your ID and your relationship status validated at home on the worldwide computer system, and then come to Dubai and open the account you need.

[Payscale]

Paying 6% for my mortgage with HSBC. Have been with them for 13 years. They offer new customers approx 4%. They wont reduce mine so I am changing Banks. Whats the lowest rate around. LTV 25%.

[QCM]

10 years with HSBC...minor issues solved,yet no big ones.
Not so many ATM machines around,sure,so no temptation to withdraw :hmm:

[Schnowzer]

SC have been great to me!

[Kenai]

Have been with HSBC for about 4+ years now. HSBC Advance account so atleast i can withdraw from any ATM without any charge and can get statements also without any additional charge. What they $uck at is the interest rates for loans := So if you want a huge personal loan...look elsewhere. Heard some good things about NBD or UNB...but then...no personal experience. As long as you dont need big loans...HSBC is ok.

[Vortex Thing]

HSBC, ADCB and Standard Chartered are all shockingly bad 'banks'. The problems encountered would have been worth a visit to a lawyer in any other country.

ENDB was less bad but very much dependant on who you talk to day to day.

NBAD for a year now and not one single issue worh mentioning. They arent the quickest but ever mistae made was dealt with correctly first fptime upon complaint. I've been plesantly surprised or perhaps I've just come to accept that service is poor full stop in Dubai banks now!

[troff]

HSBC in the UAE is not really HSBC at all. It is actually ther British Bank of the Middle East. HSBC in any other country doesn't even recognise HSBC.ae as "HSBC". It's simply a franchaise operation here that has paid a wad to the mothership to use their colours. Total scam.

[Payscale]

HSBC to pay $1.9 billion U.S. fine in money-laundering case | Reuters (http://www.reuters.com/article/2012/12/11/us-hsbc-probe-idUSBRE8BA05M20121211)

...and what a fine mothership that is!

[TwinJock]

No problems with Mashreq!! Been with them for 9 years, with ZERO costs! Not sure how they make money from me, but so far so good.....

[troff]

TJ, I don't know how you do it! ZERO costs??? You should read your bank statements a little more closely. These (HSBC) people do NOTHING for nothing.
On another note, HSBC has found a new way to make their clients scream: The "text pin". When making a purchase on-line you must now get a pin number sent to you by text message, you then enter the pin into the transaction window and wait. Doesn't work on iPad or smart phone.
Must be done in a very short period of time or the pin stale-dates.
This F'n Place. (TFP):ugh:

[Flytdeck]

HSBC is a tough bank to deal with. We have had multiple issues with them over the years, right from the start. We have held the to task for multiple problems, errors, and general customer-client issues. This bank displays an inconsistency in policies and procedures. So why deal with themÉ


Presence in almost every country
Ability to provide credit card for any country which one has an active account
Competitive exchange rates
Rapid movement of currency between international accounts


In Qatar, the local currency is tied to the US Dollar (similar, I believe, to the UAE). The most favourable exchange takes place by first exchanging to US dollars THEN moving to a foreign currency. Though this involve two transactions, the final exchange using HSBC facilities is more favourable than a direct exchange. Savings over the last three years have been significant.

There is one caveat. One must be a PREMIER member of HSBC to take advantage of the lower exchange rates. This involves maintaining a minimum balance in their combined accounts (it varies so check local regulations). PREMIER status opens a number of benefits, especially to those of us who tend to travel frequently.

The US account comes with a debit and credit card. Because of the favourable rates of exchange between US$ and other currencies, I tend to use this card when travelling then transfer sufficient funds to the US account to cover the charges. It has been the most cost effective way to travel.

One issue that comes up. American ATMs tend to add a surcharge to dispense US dollars. It is better to go to a local branch of HSBC and have them provide hard US dollars prior to embarking on a trip. I have not encountered ATM surcharges when using my debit card in BANK ATMs in other countries.

HSBC is not the easiest bank to deal with but they do offer some services not available from other institutions. If one is willing to put up with the hassle of dealing with them (patience and endurance seem to be the primary requirements) then they may save you a bit over the long term.