Prior to being known as the HSBC, they used to be known as the Midland Bank and the Listening Bank was their logo. I’ve been banking with them since the mid-1970s but last week my considerable patience was put to the test, when their miserly behaviour bore testament to the fact that Scrooge has nothing on the HSBC when it comes to being tight!
In these challenging economic times, I felt rather smug as a HSBC Advance current account holder, given that as a privileged client I had access to their Regular Saver Account paying a healthy interest of 5%, with the possibility to save up to £250 per month or £3,000 a year.
However, last week, hardly in keeping with the season of goodwill, the HSBC announced that the interest on this savings account would be slashed to a paltry 2.75%.
This has led me to re-consider my saving strategy for next year and, who knows, I might decide to invest in more Premium Bonds. Admittedly, no interest is paid on your savings, but you could, with a great bit of luck, scoop the monthly £1,000,000 prize!
Aled Evans
