HSBC is a new entrant into the Canadian banking system compared to other banks.

They have comparable good service with any basic transaction.

Just like any other bank in Canada they charge fees and sometimes the fees are high when compared to other services.

As a new immigrant, they waive the bank account fees for 6 months or so. But after that you will be charged the regular fees.

Depositing and clearing of checks is closer to a nightmare. They often cite their policies to clear checks and often it may take 30 (business) days for them to clear checks.

Their hours are not as great as TD Canada Trust and they close usually at 4:30 in the evening. From that perspective it is not that great. Some of the branches are open on Saturdays too.

Getting a credit card or loan as a new immigrant is very painful and a disheartening experience with HSBC. You would even wonder sometimes why did you immigrate to Canada. Infact one of the HSBC bank manager candidly admitted that she went through the same horrifying experience as a new immigrant. She couldnt really answer when she was asked if that means she will ensure every new immigrant will go through the same pain.

Over all, decent service. May be HSBC provides good service for Canadians. But for a new immigrant, HSBC is not that kind of a great bank.

So the verdict is: NOT GOOD and Canadababa gives a rating of 1 out of 10.

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