HSBC Bank Australia Limited Reviews 

I’ve banked around the world and I can confidently say HSBC Australia has been the worst banking experience of my life.

I needed to send a simple international transfer (USD) to a regulated US futures broker. What followed was almost three weeks of chaos:
• My first transfer was bounced back after days with no clear explanation. Only later did I find out they used their confusing “Global Money Transfer” system instead of a standard SWIFT/MT103 wire.
• Support agents kept giving contradictory information. One says it’s SWIFT, another says it’s not. No one could clearly explain how to send a proper SWIFT transfer, or why my money was being rejected.
• Second attempt: same story. Funds gone for days, then returned again. HSBC still couldn’t give me a precise reason beyond “beneficiary details / bank code issue” while everything exactly matched the broker’s instructions.
• Their app is clunky and misleading – it shows “international transfer” but routes payments through some internal system instead of standard SWIFT. No clear option, no transparency.
• Every time something goes wrong, they tell you to “wait 5–10 business days” for investigations, while your money just sits in limbo.
• Customer service feels undertrained and scripted. Basic questions about SWIFT, BIC, and routing are met with confusion or generic answers.

I’m an active trader and investor. I need a bank that can:
• Send a clean SWIFT wire without mystery detours
• Provide clear, consistent information
• Handle international transfers without my funds disappearing into a black box for weeks

HSBC Australia completely failed at all of that.

If you’re a trader, investor, or anyone who needs reliable international banking, I strongly recommend staying away from HSBC Australia. I’m now pulling my funds and moving to a bank that actually understands global payments and doesn’t waste weeks of my time.

Zero is their number. I paid out my mortgage and signed the discharge papers months ago, only to learn during the sale process that the bank still holds the title authority to MY FULLY PAID PROPERTY. What a bunch of cons. Then they lead you in circles when you try to make them transfer the title authority to your conveyancer when you have to spend hours on the phone or come in in person to claim the right to what was yours ages ago.
They never tell you that they needed official instructions from me for authorisation of the title release and would’ve been happy to own the title forever if I hadn’t sold it.

The phone operators are also a bunch of morons, hopeless and helpless chickens without brains who can’t even transfer a call to the right mortgage officer who handles my case.

WORST BANK EVER!!!!!!!!

Hopeless when it comes to their systems and service too. Not sure why some companies are with HSBC

I recently had a very disappointing experience with HSBC regarding my term deposit maturity instructions.

On 11 August 2025, I visited the Swanston Street branch and spoke with a Relationship Manager (RM) about my upcoming maturity. I clearly instructed that if HSBC could not offer a rate similar to ANZ or Macquarie, my term deposit should not be renewed. The RM emailed me later offering a 0.2 bps bonus (subject to approval on maturity day), and I accepted the rate — but he never put my instruction into the system.

Two weeks later, another RM called asking for my instructions — which made me realise that nothing from my previous instruction had been actioned. I repeated my instruction not to renew since they could no longer offer the bonus rate. Instead of helping me directly, he told me he could not perform the action over the phone and that I had to log in and release the funds myself through online banking. As a customer, being called by HSBC only to be told there was nothing they could do and that I had to do it myself was extremely disappointing.

I followed his advice, went online, and decided to reinvest approximately half of the funds and release the rest. I waited another two weeks, yet my funds remained untouched.

On 16 September, I called HSBC again to clarify the situation and expressed my frustration that I had followed all instructions they provided but nothing had happened.

Now I have received a confirmation letter showing that all funds have been locked into a three-month term deposit — completely ignoring my instructions.

This entire process has been frustrating, time-consuming, and stressful. I had to follow up multiple times, perform actions myself that should have been handled by the bank, and still ended up with an outcome I never agreed to. I expect far better service, accuracy, and accountability from a bank of HSBC’s size.

I try to pay my tax bill online, but the daily limit is peanuts. I used HSBC in the US, which was better, but in Australia, it’s not a grown up bank, the daily limit is crippling for consumer banking.
Steer clear.

Where other banks have improved in their services especially online services, this particular bank has gone down with their apps. Recently very often I find it VERY DIFFICULT to log in to their mobile application. What's happening?

I have a Euro account, and have been trying now for around two weeks to pay a deposit from it of 300 Euros. I am told there a insufficient funds...On the phone, they agree that I have nearly 15000 Euros in the account, but they seem unable to fix this.

The worst banking experience ever, waiting 45 minutes every time you call, the responses are normally from overseas they barely speak English, the operator has zero knowledge and always misguides you, nothing will happen unless you complain. Useless security and frustrating multifactor checks, their online service is horrible, and their mobile app normally fails and has lots of unfunctional menus that will take you to an error page. Their email service is horrible as well, they stop replying if you ask too many questions. If you have nerves made of steel and lots of spare time, go to HSBC

HSBC bank is not fit to operate in Australia and should be suspended until a financial ombudsman review. They should be exiting the Australian market as their skill set is not suitable to Australian people and culture.

Hi,
The receipt is attached as requested.

Let me clarify what happened. I was in Vietnam and bought a flight ticket online with your card on 19/11/2024. When I arrived at the airport's desk, they said that I didn't have any ticket booked(20/11/2024) and that I had to purchase a new one. I showed them my bank statement and the payment was processing. They confirmed they hadn't received the money.
It suddenly forced me to buy a new one. I reported this problem on your app immediately and physically on your store when I was back in town.

Terrible customer service… EVERYTHING you do via there website you’re guaranteed won’t work and you’ll spend ages on the phone sorting it out, a pack of absolute amateurs, I bank with them because I work for a Chinese company and thought it would make things easier… how wrong I was

I set up a direct debit for my cc and filled out everything correctly, i get an email telling me they will not accept the DD even though i authorized the DD

When ever something goes wrong it is always the customers faul they say. Every tim esomething goes worng it takes weeks to sort out with lots and lots of bullshit by inept staff that are polite but completely useless. Going around in circles is a favourite tacktick as the can appear to be doing their jobs. its is nothing short of amazing that a bank can be so incompetent.

I had a HSBC Savings Account with a debit card for approx. 10 years. I put money into my HSBC account on a regular basis. I closed my account in April 2024 as I was retiring and needed to consolidate my money into one account. I duly completed my closing account form and sent it off. In the meantime I transferred my HSBC current balance into my working account with another financial institute and destroyed the HSBC debit card. There was a zero balance in my account, and no notification if they received my form to close the account. In November 2024 I was sent a new debit card, which I duly returned to a HSBC Branch, explaining that the account was closed, and I could not access my account online. I was notified by Centrelink in May 2025 that my bank accounts were being reviewed and I needed to supply statements. Centrelink had the HSBC Bank Account still listed as current. I contacted HSBC's help line and was advised to go into a Branch with 100 point identification to receive a statement that the account had been closed. I went into a HSBC Branch with appropriate ID and the customer service no. that I had been using since I signed up for the account, to be told they have no record of me holding an account with them and my customer service no. was not correct. I contacted my current financial institution regarding the amounts that were transferred from (I assume) HSBC in April 2024, they were unable to verify that these amounts were from HSBC as there was very little information on the transfers or what financial institution they came from. I have had no help from HSBC, despite having receipts from money deposited into that account over the last 10 years. Absolutely no customer service. Would not recommend HSBC to anyone!

From a website that just barely almost functions and them cancelling active cards with no notice, no rhyme and no reason - summed up they are entirely useless.
Tip: just keep your money under your bed, more secure and they cant just randomly cut off your access to it.

DO NOT DEAL WITH THIS BANK! Go somewhere else.

The WORST bank to deal with ever. I transferred money out of my account to my husband's loan account within HSBC, a stop was put on it, I spoke to 2 people who asked me invasive questions for their 'document' procedure. I had to explain what I was transferring my own money for - have never had to explain any of my transactions or intentions to a bank. This was after answering multiple questions to verify my identity. Was transferred to the customer service centre from the person who took the block off my account, only to find out the block was still in place and therefore, could not increase my daily limit to transfer my money out of this bank. The customer service officer could not transact my request - after 1.5 hours on hold - and had to call me back, only to have to go through all the invasive verification questions again. Seems very much like the bank does not want money removed and will go to great lengths to deter people from accessing their own money. WORST BANK EVER. If in Australia, do not sign up even though they offer the lowest interest rate.

AVOID AT ALL COSTS.

So I wanted to change my limit as I am buying a car, for me to make the transfer I have fill out form, place all my personal details, full name, dob, address and account details, send it by mail, no email address can be provided, to Sydney for approval. 10 days for processing, it will also take 5 days via mail. Just to transfer my own money out of the account. They told me to go a branch which is 1600km away.All my personal information can be lost in the mail, leaving it open to personal information being stolen in the mail. This is ridiculous, once transfer is done. I will be closing my account

I strongly recommend avoiding banking with HSBC - total disregard for your rights concerning your own money and any standard of customer service.

I have a home loan with HSBC and asked for my account to be blocked from withdrawals as I was concerned about suspicious activity on my computer. To my horror HSBC also blocked me from making my home loan payments from an external banking institution.

I phoned HSBC to reverse the block and was informed that I have to go to a branch. I explained that I live hours away from a branch and that this is not possible. The call centre is off shore and it was very difficult to understand the officer - I had to repeatedly ask for them to speak slowly. At all times I was polite and respectful. They said they were not able to help me and hung up.

I phoned again four more times - each time the automated message said that my number was recognised and that I would be transferred as soon as an officer was available. Each time the officer answered and immediately pretended that they could not hear me and that they were going to end the call - without me having an opportunity to say anything - each officer then hung up. On the sixth call, before the officer could say anything, I pleaded for them to not hang up on me as I needed their help. The officer stayed on the line while I explained that I am unable to access my own account and am unable to visit a branch due to distance. I also explained that I am unable to make my home loan payments. I was told repeatedly that I have to visit a branch and assistance was not available on the phone.

I have lodged a complaint via an email address I found online. IHSBC sent an automated response to say that they would respond to my complaint within 30 days!

Today my automated home loan payment was withdrawn from my other banking institution without bouncing back - so I then tried to transfer more money to HSBC to make up for the deposits that they have blocked - this deposit was then blocked from HSBC. I now do not know what HSBC has done with today's automatic home loan payment that has been taken from my bank and not returned - because when I tried to phone them I got an automated message saying that my phone banking is blocked. So now HSBC has blocked me from even speaking with anyone. It is important that I reiterate that at all times I have been polite.

This has been the most frightening financial experience.

I strongly recommend that anyone considering banking with HSBC should take their business elsewhere as it is very risky trusting HSBC with your money. I also highly recommend that banking should be done with institutions that don't have off shore call centres.

HSBC have no regard for their customers.

HSBC persevere with a useless chat bot. After runnng the gauntlet of Stupid Bot / Kai, the Human chat line is, ‘experiencing a large volume of queries’. Every time!
And if you’re waiting in chat line hell and it comes to HSBC closing time - you’re ditched! God knows how few people are working on the chat line - by the wait time, I’d guess three. At most.
I’m overseas, it cost me £102 in call charges to ring HSBC and be on hold for almost one hour. Plus, I had to call at 1am to match Australia’s time difference.
HSBC do not provide a toll free number to call.
Here’s an idea, a secure email service where customers can actually let HSBC know of issues 24 hours a day.
Obviously, HSBC would need humans to read the emails and respond.
A big ask for a multi million $ company?
Apparently so.

If you want a bank that will block your money for a long time just because you transferred it from another bank, ignore all your requests, and return the money only after many days and a complaint to AFCA — then welcome. After that, they'll close all your accounts simply because they felt like it. For those who value their time and peace of mind, avoid them.

This is the history of my interaction with this bank.