[iceman]

Will start in HK in November and my employer has given a option to open account with either HSBC or Citibank. Any reviews on how the service provided by these two banks compare?
I know the answer depends on various products and services that I will be using but I just want to know how the basic service measures up between these two.

Any comments appreciated
Iceman

[BenderBends]

i was wondering that too.

I have citibank USA right now, and was going to open a citibank HK too. That way i can transfer money easily between two banks....but it costs money to do that.

does HSBC allow you to transfer money between an account in US and HK for free?

[jan522]

I have an HSBC account in the UK and HK, and transferring money is not free between both... but it's significantly lower than the other banks I know of. When I was in the UK it costs around £10 for each transfer REGARDLESS of the amount I transferred... so what I did was transfer money in bulk so I only got to pay the £10 once. Some banks charge on a scale rate. Still, I find HSBC having the better deal when it came to transeferring money. I don't have a Citibank account though... so can't give my thoughts on that.

[voonlai]

Citibank service for the most part is crxp. I was so upset recently, I just closed my account. HSBC can be a pain as well though they do try. Funny enough, I can transfer money from HSBC HK to HSBC Singapore for FREE but not from HSBC Singapore to HSBC HK, that has some fees. It all depends on where you are sending money and what kind of accounts you want. If you are coming to HK, then of course get a HSBC. More branches, more ATMs, easier to deal with.

[penguinsix]

Citibank HK and Citibank USA are not related. Well, they share the same name, but it is not like transfering money between a Citibank in LA and a Citibank in NY. They are separate entities so it is treated as a straight overseas wire.

I found Citibank's HK website to be a real bear. HSBC credit cards are often given discounts at a lot of places, and I think there are some movie cinemas that only take HSBC visas (not sure).

[Katanga]

I have moved here in the last 3mths and let me assure you that the service provided by HSBC is appalling. It took forever to get my PIN number even though the account was opened up straight away with the intorduction letter from my company.

The real killer is that to get a credit card you need to prove 3months of pay into your account plus a copy of your employment contract before they consider your application. I applied 6wks ago and only just got a letter asking me to provide the payslips, contracts etc.

I moved here from Japan and can assure you that Citibank is a much better service provider.

To be honest if they don't give me a credit card within 1month I am taking by business to Citibank. Sodd what everyone says about HSBC cards giving you discount everywhere etc. You need a card first to get the discount.

I think HSBC services in HK are shite !

[Melkir]

I like HSBC, seems to be a goodly ammount of ATMs around. I don't really use credit cards, so I never had a problem in that arena. Their website is pretty easy to use, they also use a secureID fob for security to access it. It's a good practice, but a little cumbersome. I usually leave mine at home and do all my online banking there.

I do regular transfer between my HSBC account and my US based Bank of America and the fees aren't that bad.

They reset some policies on transfers just after I joined and left me a little high and dry on transfer ability while I was abroad as I had to be physically present to sign some forms that couldn't be faxed, etc, etc. But other than that I've had no problems with them.

I consider a good service to be one I don't have to deal with the people who work there on any sort of regular basis.

[jaykay]

HSBC are ok, but they are closing branches everywhere, we've had our 3 closest branches shut in the last year and now have to travel to get to one. Queue's in HSBC banks can be diabolical, sometimes having to wait an hour or so. Not all HSBC's have premier desks so even the more affluent have to queue as well. That said their internet banking is pretty good.

I also have a BEA account as well, which as a day to day account I prefer. ATM card can be used in all other machines except Hang Seng for free. I find BEA much more user friendly, they'll phone me when something needs to be done and will fax things to other branches for me if something needs to be signed.

I haven't been anywhere yet where I get a 'discount' for using a HSBC credit card!

[sylvesterjay]

ya, what is it with queue's in HSBC? thats astonishing to have to wait over an hour. in N. America I don't think I ever had to wait more than 10 minutes at the very worst. Yesterday I went and got a number then went back to my office, an hour later I still hadn't reached my number.

[discobay]

I will vouch for HSBC. I have used them for a long time infact ever since arriving here. They are the biggest and so you should expect a lot of customers in their branches. But they are doing well considering. They closed branches purely because they had too many (Starbucks and Pacific Coffee are you listening?).
Their online banking is excellent and even better with the introduction of their security fob (more convenient to customers than digital certificates). I also use BEA's online banking and it does not compare. It is better in only one respect and that is less advertising.
HSBC are becoming a one-stop shop for all your needs from personal banking to insurance, mpf and investments and bill payments.
If you can afford it get upgraded to Premier status.