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Bank reviews

I conduct a lot of bank reviews from time to time. The HSBC banking range is huge as you would expect from a banking behemoth. They have products and services from basic no frills packages that allow you to operate a current account and withdraw money through the post office network, to offshore banking and investment and tax planning in offshore trusts at many locations. HSBC as great expertise in helping the high net worth individual manage their finances through their offshore banking arm.

In addition to the large range of banking services, HSBC also offer mortgages, loans, pensions, insurance and the entire range of financial services that you would expect from such a large organisation with such a diverse geographical reach.

In addition to an extensive branch network the also offer the full range of telephone and internet banking, even on very basic accounts so you can access and manage your account in a variety of ways. They are also one of the front runners in digital TV services for online banking.

Should you wish to diversify your holding away from the British pound, which is taking a pounding right now, HSBC has a range of accounts in other currencies that you can access. This may not be a bad idea as other currencies are holding up much better than the British pound. Asian currencies particularly have a much brighter future that western countries which are deep in debt and so this is an investment vehicle which may not only provide security and diversification, but also great returns at some point in the future when the crisis ends and the Asian economies bounce back.

Euro denominated accounts cost as little as £0.60 per cheque, major currencies (dollars, yen) £1.20 per cheque. You do however need to be careful as other more exotic currencies can cost over up to £35 per cheque….so do your research before you sign up. I’ve done a lot of bank reviews….but right now HSBC is my favourite.

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