HSBC Share Dealing

Have used HSBC InvestDirect for a number of years. It has always been a poor service, but over recent months it has deteriorated further with frequent errors on Contract Note, Tax Certificate, Dividend payments and proceeds from disposal of shares. It is also very difficult to communicate with them as they have closed their Messaging Service and Chat Service not working.

Other negatives are limited range of shares and funds available to buy and delays in sending out advices regarding Rights Issues, and their refusal to send them by email, so easy to miss taking up the;Rights Issue if you are away from home.

System not changed in over 20 years with poor functionality compared to other providers. Cannot get a trade price for purchase or sale unless the system gives it to you which in my experience is not often. Cannot download any data from the system for dividends etc and portfolio frozen at previous days closing prices. Service non existent from leaving messages or contacting their help line. This system is not "fit for purpose".

Slow, unreliable, and the whole thing is clunky to the point where it doesn't look like it's been touched since 1988. And.. they stiff me for £10.50 every 3 months. For what??

Sorry,.... Once again from this mistake prone service.

I would not recommend HSBC's sharedealing service to anyone.

I don't know why they have introduced a quarterly fee for such a substandard platform.

The platform is extremely outdated and is an embarrassment to HSBC.

Have been a customer for years, mostly because of the convenience as my current account is with HSBC. Was surprised to see 10.50 deducted today and found out that they have introduced an account fee of 42 pounds, 10.50 a quarter. This is enough for me to switch as the extra fee now outweighs the convenience.

In the New Year, I understand that InvestDirect propose to charge it's customers £10 pq for just holding their shares (electronically) - this will be in addition to charging for every Share Dealing transaction.

Is this because HSBC have been fined for LIBOR, PPI, Money Laundering etc. and want to recover the cost of their 'fines' from customers?

Cynical ? moi?

Can HSBC confirm how many of their staff have been prosecuted/demoted/sacked for LIBOR, PPI, Money Laundering etc. . . . let me guess - hmmm NONE?

STOP being underhand & GREEDY HSBC . . . you are going to lose your customers and public respect.

HSBC does not charge the annual fees. This is the reasons I moved my investments here from TD Direct in Luxemburg. However, the level of service is very low. It took me several months only to change the currency for dividend payments from GBP to USD. The customer service simply did not know how to do it.

The website is very basic. Sometimes it just does not allow you to log in for a few days. Its response is "Sorry, we are encountering temporary difficulties".

Unprofessional service, but they are only good for low trading fees + no annual account fees. However....

I continually find that when I wish to trade shares in a NASDAQ or NYSE listed company I receive an error message informing me that they are not tradeable on the HSBC Invest Direct Plus platform. I then ask them to rectify the situation, which they do, but this can take a week or two!

I recently messaged them: 'I suggest you review, on a monthly

basis,the list of shares on the NYSE & NASDAQ, data as provided to you

by Digital Look, and ensure they are tradeable on HSBC Invest Direct

platform. Rather than wait for investors like me to alert you to

companies that should be tradeable on your platform.

I strongly suggest you consider resolving the situation by arranging

for your third party data supplier to upload, on a minimum of a

monthly basis, LSE, NYSE and NASDAQ data onto the HSBC Invest Direct

platform. Please confirm, and keep me updated.'

I then received this reply, which to me proves their unprofessionalism:

'Unfortunately, this is not something that InvestDirect is able to

do and there are no plans to do so at present. I will however,

pass your comments to our service feedback department for review.'

Terribly slow.SP shown from last closing (never updated). CANNOT simply do Day Trading at all, I lost money from a company that was going 168% when I entered at 100% increased. Because it simply does not work for day traders.

You cannot arrange for automatic cut off point for sales or purchase. Its very primitive compared to others.