HSBC (Premier) - data sharing

[bigbite100]

hey guys, i heard that if you are a hsbc customer in any country, any other hsbc branch in any other country, can see that you are a customer.
is that really true? Or is it only for the "premier" and private banking clients, that allow "worldview" (the connectivity between different hsbc countries).
thank you!

 

[kilor]

HSBC entities are separate in each country, so they don’t all automatically see your accounts.‌

The “Global View” feature is what links them, and that’s usually available for Premier and‍ Private Banking clients.

Without that, most branches won’t have visibility into your other HSBC accounts.⁠

 

[Clank]

In my case this wasn't true.

I've never used global⁤ view and when they called me for account maintenance they knew all accounts I had⁣ with them in every jurisdiction.

 

[hofo]

Then you must’ve had some bank monkey with higher clearance digging through their whole system‌ looking you up.

 

[bigbite100]

so some people say its not being shared, some people say it is being shared..‌ maybe the truth is somewhere in the middle. 😀

but other than that, with that kind‍ of logic, that big corporations share data between jurisdictions, one also shouldnt get an account⁠ with a international broker ?

 

[Martin Everson]

It is not to say the backend system are not⁠ linked or are one system. Sharing data between entities is probably key to their AML/KYC⁤ ability. Somewhere along the line you must have agreed to some obscure terms and conditions⁣ that gave them permission to search for your data if assigned to other HSBC entities.⁢ It would be crazy if you were considered a criminal by HSBC Bermuda but were︀ able to open an account with HSBC Jersey because the two systems did not talk.︁ Also it would be great way of selling global view idea to customer if they︂ were able to see if client has other accounts at other entities.

 

[Clank]

When I︁ discovered this, I stopped using HSBC as a one-stop solution for all my international banking︂ needs and now I use always a local bank in each country.

 

[bibing]

This is the way to go

 

[ImKing]

You’re going to have a hard time being a customer at any global bank if‌ you think they don’t share data internally, whether officially or unofficially.

It’s a bit like‍ the old Visa/Mastercard TMF list of bad merchants, it was completely hush hush, yet everyone⁠ knew about it.

Once you were on that list, there wasn’t a single institution in⁤ the world that would touch you.