Mee and I have just managed to transfer our ISA accounts to Halifax over the weekend. At the moment, I believe that Halifax is offering the highest ISA rate that allows transfers. During the transfer process, I was offered to switch my current account. All I need to do was to give them my HSBC current account details and they will take care the rest, including any direct debit stuffs. In addition, I will get additional 0.2% ISA, £5 cashback every month if I bank in more than £1000 a month and £50 upon successful transfer. Well, I knew all about these incentives but I am still quite reluctant to switch.
HSBC provides very few benefits to its customers. At first, I felt privileged when HSBC offered me a Gold Credit Card. On second thought, it is just a plastic card which I have pay with my own money at the end of every month when I use it. It represents nothing. I would love to have been given something like Halifax does to its customers. By the way, HSBC has one of the lowest ISA rate. The only thing that I like about it is the easiness of the online banking; transferring money and making a payment can be done quite easily and I feel secure too. I have to say that Halifax has made some improvement to its online banking but it is still not on par with HSBC.
HSBC provides better customer service overall. However, I could feel some cockiness attitude when dealing with them. Halifax is friendlier but not so efficient.
I guess I am one of those people who don’t like change. On the other hand, change is good. Seriously, when I thought about change, I would normally take a while to think about it. However, I always believe that I can adapt quite easily. Over the next few days or weeks, I believe that I will be logging into both HSBC and Halifax online accounts to compare them both.