HSBC...why the delay?

[joker122]

I opened an OSA with HSBC and deposited $8k on TUESDAY. I immediately recieved an email saying that I would recieve my username and password in 1-2 business days (also by email) so I could manage my account. It's friday and I've gotten no word, but HSBC definitely took 8k from my checking account.

How long did other people wait to get their account info?

[grinin]

I spoke with them a few minutes ago about the same issue. Unfortunately they snail mail you the pword. If I had know that I would not have made my initial deposit $1.

[squiffy]

It's a question of security I suppose, to reduce the chances of identity theft. They email you a registration code to verify that you have a valid email address. They deposit test amounts to your bank account to verify that you own the bank account. And they snail mail you a temporary password, to verify that you gave a correct mailing address.

I don't know about you guys, but if I am going to send 100K of my cash to a bank, I hope they are taking some security measures to reduce the chances that someone could drain my accounts of 100K and walk away.

Their methods aren't foolproof. But it's kind of like airport screening in the U.S. Hopefully it will deter or catch some terrorists and reduce the likelihood of your plane being hijacked and flown into a skyscraper somewhere.