HSBC's amazing new bank account

HSBC recently wrote to inform me of important changes to my bank account. Apparently, customers had expressed dissatisfaction with the paltry 0.1% AER rate of credit interest offered on HSBC's curent account.

HSBC's solution? To stop paying any interest on its new range of current accounts.

"After all," says the bank. "You could get a better rate of interest on a savings account."

Brilliant!

Also, as many supermarkets are no longer accepting paper cheques at the check-out, HSBC has decided to "phase out this element of your account".

And while they're at it, the bank is also going to phase out those pesky monthly statements in favour of a new quarterly update.

This amazing take on customer service dropped into my letter-box at the same time as HSBC splashed out on 24 pages of advertising in New York magazine. One page of the campaign states: "Now more than ever before, people are reappraising not just how and where they manage their money, but what's really important in life."

Since I'm rather attached to old-fashioned banking services like current account interest, chequebooks and monthly statements, I might just take the bank's advice and reappraise how and where I manage my money in future.