HSBC’s Black Friday Bank Breakdown
Picture this: the biggest shopping day of the year, the lights are glowing, the catalog tinsel is shimmering—except your online and mobile banking tools are doing a total stand‑still. HSBC’s systems down, customers stuck, and everyone wondering why a holiday that should be all about savings looks more like a financial flat‑line.
What Went Wrong?
HSBC blamed an “internal system issue” for the crash that happened just before 9 am. The usual order‑processing flow went into a coma, leaving shoppers scrambling for alternative payment methods. The bank’s appeal? Using an SMS code to keep shopping—and to keep the doorway open to the e‑marketplace.
Out Ourselves? Emotional Stuff
“We understand this is really frustrating for some of our customers, and we’re truly sorry for the inconvenience,” the bank admitted. That may pull at some heartstrings, but the real question is: are we reading this or will it push some to run to the bank pirates?
- Could’t buy that coveted gaming console or size up your holiday wardrobe.
- Missing the chance to lock in a killer deal on a winter jacket.
- Risking the inability to make paycheck‑to‑rent transfers.
Nationwide Knows What’s Up
While HSBC was crashing, Nationwide Building Society spun up a full‑throttle of online buying, raking in 3.22 million transactions by midday—14 % more than any other Black Friday and 5 % above last year’s totals. Compare that to the 2021 numbers, and you’re looking at a staggering 13 % upswing.
Mark Nalder, payment strategy director at Nationwide, predicted this was “the busiest Black Friday ever.” So while HSBC hiccuped, Nationwide is handing shoppers a “buy one, get one” before the season’s chaos.
Why You Should Care
The outage isn’t just a glitch—it could affect:
- Essential payments (rent, utility bills, car loans).
- Potential financial losses if you can’t secure a discount.
- Overall trust in your banking partner.
Sam Richardson from Which? Money advised customers to keep receipts of any extra spending caused by the outage. That way you can later claim back those costs from HSBC if they’re within policy. Otherwise, a backup account or that good‑old spare credit card might just save the day.
What’s Next?
The bank promises a quick write‑up of the actual fix and an “update to be released as soon as possible.” That’s the message. Customers, stay woke. If the outage keep happening, consider that bank switching might not just be a pitfall, but a golden opportunity.
In the meantime—turn to your phone, request an SMS code, unwrap those deals, and remember: when tech falters, keep your backup ready.
