HSBC Invoice Finance Reviews
HSBC Invoice Finance are one of the large high street bank backed invoice finance companies within the UK.
We asked a sample of existing, and previous, clients about their reasons for moving to or from them. In our survey of existing invoice finance users we randomly selected a sample of existing invoice finance users, from across the sector.
Within our sample, we identified 5 (5%) that were currently using HSBC Invoice Finance and 12 (12%) that had used them in the past and now used an alternative provider. We asked them all to review their reasons for moving between different providers.
Previous HSBC Invoice Finance Users
Of the 12 that had previously used HSBC:
- 7 had moved to an independent invoice finance company.
- 5 had moved to another high street bank for their invoice finance.
The reasons given for moving their invoice finance from HSBC to another provider were:
- 5 - moved for cost savings.
- 4 - moved invoice financiers due to moving banks.
- 2 - moved for service/flexibility improvements.
- 1 - moved as their overdraft and factoring facility were withdrawn.
Existing HSBC Invoice Finance Users
Of the 5 within our sample that were with this provider at present, all said that they were using invoice discounting facilities.
- 3 had previously used another high street bank for their invoice finance.
- 2 had previously used one (or more) alternative independent providers.
Their reasons for moving their invoice finance to HSBC were mainly as they had moved banks, in two cases they also mentioned moving to make a cost saving.
Clearly these are very small numbers within our survey, so they may not be representative of whole of the HSBC Invoice Finance client book. However, these were all comments given by clients that said that they were either with HSBC or had previously used them. We have also undertaken service quality ratings research amongst larger samples of their customer base.
Source: Invoice Finance Clients Survey - March 2014 (100 Respondents)