Poor communication and slow application processing times
1
We tried to switch our business' bank account from Starling to HSBC. I was however, disappointed to receive a letter through yesterday stating that my application had been declined without any explanation nor justified reason.
What is more disappointing is the time taken to go through this whole process (around 10 weeks, which is far longer than the original time estimate provided by HSBC) in which the process was time consuming: completing the application, having 2 calls, providing all the necessary documents and then not even receiving a reason for the account transfer being declined. The communication and length of time the decision took, in my opinion, was not acceptable.
For context, it took less than 2 days to set-up an additional Revolut Business account with no hassle and much lower fees particularly on non-GBP accounts. HSBC Business need to improve their application processing times and importantly communication if they're to remain competitive in today's environment.
Reviewed on: 12th July 2022
