Those who hadn’t the time or inclination to leave HSBC after their disastrous mainland-pandering UnionPay debacle have been rewarded for their patience. Finally, after months of promises, cardholders who complained are receiving internationally recognised ATM cards once more.
However, customers who read the small print will notice that they are being royally screwed around yet again. Despite patiently remaining with the bank, loyal customers will be taxed for regaining the same level of access to their money they previously enjoyed every day.
- The new intentionally accepted ‘PLUS’ networked cards have a whopping HK$40 withdrawal fee to access cash abroad (double the HK$20 charged with the bank’s UnionPay card – which has very low acceptance outside of Asia).
- Charges for local withdrawals from other bank’s ATMs are HK$25 with the PLUS card (as opposed to HK$15 for UnionPay).
- Customers may not even use the card as a permanent replacement to their regular ATM card – they must carry both.
- The card is attached to customer’s ‘Current’ as opposed to main ‘Savings’ account, meaning an endless hassle of transfers will be required to avoid becoming overdrawn.
- Only those who complained, or have applied, will receive the card – after a 6 month financial farce.
Time to leave the terrorist enabling, Mexican drug lord sponsoring, too big to jail, tar sand supporting criminal bank? Read here for some alternatives to HSBC. ATM withdrawals are free, worldwide, with Citibank, whilst intra-bank transfers are free HK-wide with Standard Chartered.
If you can’t leave, or are some sort of masochist, kick off with HSBC’s Manager of Customer Relations, Jaffy Wong at [email protected] Or talk to May Fung on 2996 6388 ext 6000. Or write to HSBC, 1 Queen’s Road Central, Hong Kong.
Click here for a full list of useful links for expats. Other tips for foreigners residing in HK…
- Accessing iPlayer from Abroad.
- Cheapest Books Delivered to HK.
- Cheapest Mobiles: Top 4 Places.
- China Visa – How to Apply.
- Comprehensive Map of HK Markets & Hidden Malls.
- Escaping HSBC: HK’s Alternative & Least Worst Banking Options.
- Flat-Hunting Guide and Links.
- Flight Tips and Links.
- How to Bypass the South China Morning Post Paywall.
- Local Job Hunting Links.
- Navigating HSBC’s New ATM Card Farce.
- Teaching Work in Hong Kong.