HSBC ‘best business internet bank’
September 28, 2006
HSBC has been voted the best online bank in the UK in two recently released surveys, it has announced.
In Global Finance magazine’s annual survey of internet banks, HSBC was named best corporate/institutional bank in the UK.
According to the latest online business banking comparison by Moneyfacts, the company was found to offer the most extensive online experience of any high street bank.
HSBC claims that its internet facilities currently offer customers the potential to view transactions, print statements, set up standing orders, stop cheques and make inter-account transfers.
Alan Keir, HSBC head of commercial banking in Europe, said: "Internet banking forms a cornerstone of HSBC’s efforts to respond to the changing needs of 21st century businesses.
"With 51 per cent of Britain’s 1.7 million small to medium-sized enterprises expected to bank direct by 2010, demand for internet banking is clear and we’re leading the way."
HSBC also claims to "lead the way" in efforts to combat internet fraud. In May it embarked on the roll-out of two-factor security tokens to 180,000 business customers.
Written by Peter Kenny · Filed Under News Banking
That HSBC is the best internet bank for business is sad news for companies. We can only view transactions some seven weeks back before they are no longer available online, then we have to resort to paper statements. Half a year ago, HSBC said they were fixing it but there has been no change. In the HSBC systems the data is retained for many years – if not forever.
When the free corporate banking deal expires, I am going to look for a better service.
As of 30/9/2008, statements can still ony be looked at going back 7 weeks with Business accounts – this is rubbish! With personal accounts you can go back years, but not with business accounts that really need it.
WAKE UP HSBC – OFFER A SERVICE YOUR CUSTOMERS ACTUALLY NEED!
I spoke to Customer services this morning and they agreed it was not ideal and that many customers had the same issue.
Options were “to wait till Monday morning so we can phone the branch and they can fax them to me”.
Or I could “go into my branch and get copies there”.
I was also told that is will be implemented but they had no time frame, “maybe this year – or next” WTF!!
On logging in this morning I was told there will be an upgrade to the systems over November and December 2008. If they have not got their noodles together and sorted this issue by then I’m off in the new year to find a bank that runs a proper internet banking service. This is “not a nice to have” feature, it’s an essential part of internet banking.