Complaint / review text:
HSBC NRE account is basically a cheat. You cannot pay online to other non-HSBC account, you can only pay by check. HSBC did not tell about the minimum balance and gives advance account where one needs to maintain a minimum balance of $5000. They did not tell the customers that there is another regular account that needs a minimum balance of $1500. If not, they'll charge the customer $30 per quarter bank charges. Then if you try to pay online to other non-HSBC account, you have to go through pain in the procedure to setup designated beneficiary for non-HSBC account. It accepts all okay online, but have to wait for 2 days to be approved manually.
When confirmed, you get an email that template for this has been setup with non-HSBC account holder name and non-HSBC account number, but beneficiary bank as HSBC, not his non-HSBC bank! Then the thick HSBC doesn't realize that it is non-HSBC account number, bank code and of course, the name of the account holder! If you do not notice it and make any online payment or transfer money your money, it will get lost for few weeks. HSBC in UK has been fined millions of dollars for flouting the laws and making their own rules to keep the money, bank charges for their faults and showing you the dead end. Bank with any other, but not HSBC because it is injurious to your health. Their interest rates are the lowest. Foreign exchange remittance rates are simply cheat.