QuickBooks OnLine Bank Transactions Download & HSBC Problem

Posted by on Oct 28, 2011 in News Updates | 1 comment

This may be old news for you current global HSBC bank users, that is, trying to download your bank transactions into QuickBooks. For you new or those of you deciding to bank with HSBC, here’s a flash! DON’T!!

Even though this current client is located in Vancouver, BC Canada, this is a problem for HSBC clients globally. It wasn’t hard to find people in a number of other countries on the Intuit Community site, voicing their opinion of HSBC’s shortcoming.

This quirk is this, HSBC has decided not to upgrade it’s functionality with QuickBooks for those of you that are trying to download the bank transactions into QuickBooks. Not now or in the immediate future!

You can try any format the HSBC presents on its banking site, but trust me, none (and that includes .csv) of them work! In speaking to a HSBC technical support person, they are aware of the problem but can only tell me that they are unaware of any changes forthcoming from HSBC. Really!!

In my further discussion with the HSBC techie, I asked if there was a software Import File program that they could suggest. He said they were not allowed to refer any software due to a liability issue from their side. How very helpful.

My comment to him was – as a Certified QuickBooks ProAdvisor, why then would I refer the use of QuickBooks for a HSBC client? I further went on to point out, that if a client came to me who was in the process of setting up QuickBooks, and was contemplating using HSBC as their bank, I would quickly point out that if they want to use the download feature from the HSBC site, they would not be able to do so.

My next suggestion would be for them to find an alternative bank to deal with, such as any of the following in Canada. Royal Bank, TD Canada Trust, CIBC, Scotiabank and any one of the many credit unions. Their bank transaction download features all work and are compatible with QuickBooks.

So, if you are new to HSBC, using QuickBooks, and see yourself using the download feature, save your time and enter the transactions in manually. If the number of transaction are too large, and you really need to use the download feature, than switch banks.

Don’t sweat the small stuff because the founders of HSBC, Hongkong and Shanghai Banking Corporation Limited, don’t feel that you as a customer and your need is important. Dump them!!

If enough clients do that in the 85 countries that HSBC is located in around this vast world, maybe their billions of corporate dollars will do something about this seemingly inexpensive problem.

This is just another example why the world’s population is marching in the streets, because they’re fed up with the corporations and their seemingly arrogant attitude towards society in general. It’s like we got your money – screw you!

If that’s their attitude then so be it. Karma has a way of working out in one’s lifetime.

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