What do you expect from a foreign bank, wow these guys are unbelievable. I am a high net worth individual and I was repeatedly treated like one of the many cheap suits you can see walking around their head office in Vancouver.
Their securities department (stock brokerage) had no clue what they were doing. Their fees are astronomically high and their advisors are less knowledgable than your local mom and pop financial planner. They underperformed the market every single year I was with them and tried to lie about the performance to trick me. They pretend to have a global advantage but really they have absolutely nothing. Its the only thing they can say about themselves because they are inferior to the other big 5 banks in every aspect. Their track record globally is atrocious, look at their mutual funds performance. Yikes! Come to think of it, HSBC Securities canada is just a slapped together motley crew formed by prior failed independant dinky brokerages. They have no proper trade desk or analyst department! Just a couple of washed up advisors praying for the cheesy bankers to send them clients in return for the hockey games and lunches they send them to with your commissions.
I was told rudely that I was flat out wrong about their credit card policies when they charged me an annual fee on a "no annual fee" card. I was left completely unsatisfied and rudely delt with by someone that sounded like they were speaking jibberish with their mouth full of food. The manager talked to me like I was a child and talked down on me in that dreaded fashion that we have all come to recognize as typical old fashioned stuck up banker behavior. I swear they have the worst case of small paycheck syndrome out of all the banks in this country, and that is saying alot since their peer group doesnt have a great reputaion to begin with. The list of complaints goes on and on...
They will never do well in this country because of their stuck up attitude and complete inability to understand north american customer service. They boast about their "global reach" and "international expertise" but really that is absolutely worthless I have an easier time travelling with my TD account than I do with crappy HSBC, the only thing they are doing on a global scale is dissapointing customers and ripping people off. I hope their financial results dont have a global reach because they are completely floundering in Canada and the US and losing themselves a ton of money annually in the process. Keep it up guys, Moores would not be in business without you.
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