You are here: Home - Saving & Banking - News -

HSBC pushes the poorer plebs to the far corners of the globe

0
Written by:
27/03/2007

HSBC, one of the biggest banks in the world, is diverting less affluent customers to foreign call centres while its more affluent, and hence more profitable, clients are dealt with in the UK.

The bank has admitted filtering calls from its 8.5 million customer base with UK current accounts and transferring them to overseas call centres after calculating factors like monthly income and credit rating.

Customers are then graded, with Premier account holders and business customers connected to call centres in the UK, while those with lower scores are put across to call centres in Malta, the Philippines, India and Malaysia.

An HSBC spokesperson said: “There is a scoring system. If you are identified as a UK current accounts customer with more complex needs, then you will be dealt with in the UK. As a general rule, these are the more affluent customers.”

But Eddy Weatherill, from the Independent Banking Advisory Service, said: “This smacks of a first-class, second-class system. If you are struggling to make ends meet you will be passed over to a second-class service.

“It is a fact that money drives the system. The opportunity to make more profit exists with those with more funds in their accounts.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
PPF is to pay the fired Rovers forever and more

More than 6,000 ex-employees of defunct car maker MG Rover are to receive their pensions from the Pension Protection Fund (PPF).

Close