Would you trust this bank ?

[pedro01]

So, there I was wondering if my bank in Jersey is actually covered by any protection at all. Now - this is a major international bank, one of the largest in the world - but they obviously operate under different laws depending on the country that particular branch is in.

So - I PMd them via their online banking system & asked if my deposits there were covered in any way. My question was extremely straightforward.

Here is the response I got

Dear Mr XXXXXX

Thank you for your recent email.

Deposits made with HSBC Bank International Limited are not covered by the UK's Financial Services Compensation Scheme under the UK's Financial Services and Markets Act 2000. Deposits made with an Isle Man office of HSBC Bank International Limited are covered by the Depositors Compensation Scheme contained in the Banking Business (Compensation of Depositors) Regulations 1991.

Should you have any further queries please do not hesitate to contact us.

Yours Sincerely

Customer Service Team
International Direct Banking

HSBC Bank International Limited
HSBC House
St Helier
Jersey
JE1 1HS
Channel Islands

Tel: +44 1534 616000
Fax: +44 1534 616001
Web: HSBC Offshore | Bank accounts, Savings, Investments, Premier Banking, Expat advice abroad

Now - I may be no genius but nor am I a moron and my impression is that they completely dodged the question. Plus the fact is that my account is in Jersey & not the Isle Of Man.

I replied with a simple "Thank for your email but it doesn't answer my questions. Are my deposits protected or not ?"

I got the following:

Dear Mr XXXXXX

Thank you for your recent email.

No they are not guaranteed.

Should you have any further queries please do not hesitate to contact us.

Yours Sincerely

Customer Service Team
International Direct Banking

HSBC Bank International Limited
HSBC House
St Helier
Jersey
JE1 1HS
Channel Islands

Tel: +44 1534 616000
Fax: +44 1534 616001
Web: HSBC Offshore | Bank accounts, Savings, Investments, Premier Banking, Expat advice abroad

******s, eh ? That first response was a complete swerve. So I then asked if what I would need to do to move my account to a zone that is protected and I got...

Dear Mr XXXXXXX

Thank you for your recent email.

Please write to Customer Relations to the following address and they will be able to assist you further with your queries.

Customer Relations Department
HSBC Bank International Limited
HSBC House
Esplanade
St Helier
Jersey JE1 1HS
Channel Islands

Should you have any further queries please do not hesitate to contact us.

Yours Sincerely

Customer Service Team
International Direct Banking

HSBC Bank International Limited
HSBC House
St Helier
Jersey
JE1 1HS
Channel Islands

Tel: +44 1534 616000
Fax: +44 1534 616001
Web: HSBC Offshore | Bank accounts, Savings, Investments, Premier Banking, Expat advice abroad

Oh yeah - write a fcuking letter. Brilliant idea in 2008. That won't buy them much time will it?

I'll be out by Wednesday.

The deviousness disgusts me