HSBC customers should receive interest – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

HSBC customers should receive interest

Dear Sir,

HSBC Bermuda continues to provide excellent service, with its staff going above and beyond to be of help.

HSBC's sponsorship of Cup Match, and its drive around town with giveaways, was second to none. The bank, with its training opportunities, and long list of community sponsorships, makes it first-class.

Realising all of this, I was very impressed to read on August 4, 2015, on page 11 of your paper that HSBC had made $13.6 billion in pre-tax profits.

But ... how in the world do we remain silent given its success, yet we do not see 1 per cent being given in interest on our savings accounts, but we see an increase in fees?

Unbelievable. Are we helping to pay for the $1.9 billion fine? If so, it is bad business practice.

We, the ordinary customer, did not contribute to the reasons why the bank was charged and fined. We are just ordinary country bumpkins in the middle of the ocean who have helped to make the bank great, but see no reward for our efforts. So are we silent because they hold our debt and our mortgages?

Surely, this is not like the taxman who giveth and taketh away. Surely, when its young HSBC staff brainstorm and have focus groups on how to really make an impact on customers, they should strongly recommend that the consumers receive interest on their savings and charges be decreased or dropped all together.

The huge profits HSBC has revealed allow HSBC to take the next major step of giving some interest so it can retain its ranking as the best bank in the world.

Sincerely, WE WANT INTEREST

Holiday spirit: HSBC employees hand out Cup Match flags on Front Street. But while the bank offers excellent community sponsorships, a reader suggests it should be giving interest on savings accounts given their $13.6 billion profits (File photograph by Akil Simmons)

You must be Registered or to post comment or to vote.

Published August 15, 2015 at 9:00 am (Updated August 15, 2015 at 1:33 am)

HSBC customers should receive interest

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon