# HSBC ‘Connected Money’ **URL:** \ **Category:** Fintech Chat\ **Created:** [13 March 2018 15:34 UTC](https://community.monzo.com/t/hsbc-connected-money/34419 "2018-03-13T15:34:54Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Theodore](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/theodore/32/71187_2.png) [@Theodore](https://community.monzo.com/u/Theodore)\ **Post date:** [13 March 2018 15:34 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/1 "2018-03-13T15:34:54Z")
![image](https://cdck-file-uploads-global.s3.dualstack.us-west-2.amazonaws.com/monzo/original/3X/d/a/dafc589903262eeda8d20bb6924746458b19ec18.jpeg) ![image](https://cdck-file-uploads-global.s3.dualstack.us-west-2.amazonaws.com/monzo/original/3X/b/0/b07a72f41caebe16255da9fca2705d154e3b57d5.jpeg) Convergence in mobile banking, consolidation on the horizon and do the major banks have competitive advantage over startups given they still have branches? [https://www.google.co.uk/amp/s/amp.ft.com/content/2fb74906-23b7-11e8-add1-0e8958b189ea](https://www.google.co.uk/amp/s/amp.ft.com/content/2fb74906-23b7-11e8-add1-0e8958b189ea) ---
**Author:** ![anon21222882](https://avatars.discourse-cdn.com/v4/letter/a/ccd318/32.png) [@anon21222882](https://community.monzo.com/u/anon21222882)\ **Post date:** [13 March 2018 15:57 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/2 "2018-03-13T15:57:30Z")
Tried to open the article but didn’t have a subscription to the Financial Times 🙈 (reminder to self: need to get one of those!) Super interested to see what they come up with though! What are your thoughts @Theodore? (As a Monzo employee I think it’s best I keep mum on mine…) ---
**Author:** ![SC95](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/sc95/32/30201_2.png) [@SC95](https://community.monzo.com/u/SC95)\ **Post date:** [13 March 2018 16:06 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/4 "2018-03-13T16:06:33Z")
Here is the direct link to FT Article [https://www.ft.com/content/2fb74906-23b7-11e8-add1-0e8958b189ea](https://www.ft.com/content/2fb74906-23b7-11e8-add1-0e8958b189ea) ---
**Author:** ![Theodore](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/theodore/32/71187_2.png) [@Theodore](https://community.monzo.com/u/Theodore)\ **Post date:** [13 March 2018 16:17 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/6 "2018-03-13T16:17:11Z")
Aha I added the screenshots in anticipation that many are unlikely to have subscriptions. My thoughts are that as “legacy banks” continue to improve their mobile offerings in light of competition and branch closures over time, there will be erosion in the first mover advantage that Monzo, Starling, Revolut etc have in the modern mobile banking space. Naturally, the major banks already have a huge latent customer base/brand recognition and this is upcoming launch is a sign they’re responding to disruption. So long as Monzo et al continue to innovate with the Marketplace and add new in demand features such as Android/Apple Pay then they can continue to remain at a technological frontier. However, I do see consolidation or collaboration as inevitable. Otherwise, there may only be a niche market available to current startups much like the overplayed disruption of P2P lenders. ---
**Author:** ![Theodore](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/theodore/32/71187_2.png) [@Theodore](https://community.monzo.com/u/Theodore)\ **Post date:** [13 March 2018 16:18 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/7 "2018-03-13T16:18:02Z")
I did attempt to link the original article as reference. Nothing untoward here ---
**Author:** ![DaveTMG](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/davetmg/32/53594_2.png) [@DaveTMG](https://community.monzo.com/u/DaveTMG)\ **Post date:** [13 March 2018 17:34 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/8 "2018-03-13T17:34:45Z")
If you try to go direct to the article you need a subscription. Intsead search google using “HSBC hopes to launch ‘open banking’ app within months” as the term. The FT article is the first result. Click on it and you can read it. ---
**Author:** ![anon98898139](https://avatars.discourse-cdn.com/v4/letter/a/2bfe46/32.png) [@anon98898139](https://community.monzo.com/u/anon98898139)\ **Post date:** [13 March 2018 22:05 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/9 "2018-03-13T22:05:16Z")
iOS App Link: [https://itunes.apple.com/gb/app/connected-money-from-hsbc/id1183884067?mt=8](https://itunes.apple.com/gb/app/connected-money-from-hsbc/id1183884067?mt=8) Currently very similar to Emma or any other aggregator! Now let’s see if you still need a HSBC account after a CASS switch… ---
**Author:** ![Theodore](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/theodore/32/71187_2.png) [@Theodore](https://community.monzo.com/u/Theodore)\ **Post date:** [13 March 2018 22:44 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/10 "2018-03-13T22:44:18Z")
So essentially it appears to be launched already in beta by the looks of it: ![image](https://cdck-file-uploads-global.s3.dualstack.us-west-2.amazonaws.com/monzo/original/3X/8/e/8e1602b79226c92b47d22bbf074575c57ad8e596.jpeg) ![image](https://cdck-file-uploads-global.s3.dualstack.us-west-2.amazonaws.com/monzo/original/3X/3/6/36dd3a2ed86a165c8c4132e4999edaa9c6f70ff1.jpeg) Doesn’t the whole “connectedness” all accounts in one place negate the need to switch current accounts though? Also, @anon21222882 is this app compatible with Monzo i.e. would a HSBC user be able to link their Monzo current account to this app? ---
**Author:** ![anon44204028](https://avatars.discourse-cdn.com/v4/letter/a/ed655f/32.png) [@anon44204028](https://community.monzo.com/u/anon44204028)\ **Post date:** [13 March 2018 22:46 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/11 "2018-03-13T22:46:21Z")
I heard it is expected to be out of Beta on 16/04/2018 ---
**Author:** ![stephenjames](https://avatars.discourse-cdn.com/v4/letter/s/e36b37/32.png) [@stephenjames](https://community.monzo.com/u/stephenjames)\ **Post date:** [14 March 2018 09:56 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/12 "2018-03-14T09:56:43Z")
If anything like their new, revamped website a few years ago I suspect it to be a disappointment. Also they may have a huge customer base but how many of them are suddenly going to start using banking on a mobile? (I know some do of course) Guess time will tell. ---
**Author:** ![anon36636677](https://avatars.discourse-cdn.com/v4/letter/a/d6d6ee/32.png) [@anon36636677](https://community.monzo.com/u/anon36636677)\ **Post date:** [14 March 2018 10:11 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/13 "2018-03-14T10:11:57Z")
Some screenshots here: > **[New HSBC app will show ALL your accounts - even if they're with its rivals](https://www.moneysavingexpert.com/news/2017/09/new-hsbc-app-will-show-all-your-accounts---even-if-theyre-with-its-rivals/)** > > HSBC is launching a new app that can show you your accounts from 21 different banks in one place > **[HSBC to let UK customers manage different bank accounts on one screen with new...](https://www.cnbc.com/2017/09/27/hsbc-beta-app-lets-uk-customers-manage-different-bank-accounts.html)** > > It will allow customers to view bank accounts they have with different providers, in a major step towards meeting new EU rules. Be interesting to see what they do with this. Shame about the initial 2 hour update constraint. ---
**Author:** ![anon44204028](https://avatars.discourse-cdn.com/v4/letter/a/ed655f/32.png) [@anon44204028](https://community.monzo.com/u/anon44204028)\ **Post date:** [14 March 2018 12:19 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/14 "2018-03-14T12:19:01Z")
> [@anon36636677](#): > > HSBC is launching a new app that can show you your accounts from 21 different banks in one place just waiting for some community user to say “damn, how will I view my 22nd account” 😉 ---
**Author:** ![ASKendrew](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/askendrew/32/89474_2.png) [@ASKendrew](https://community.monzo.com/u/ASKendrew)\ **Post date:** [14 March 2018 13:02 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/15 "2018-03-14T13:02:01Z")
A shame that it’s only open to HSBC current account customers (at the moment). Maybe they’ll allow their credit card customers to opt in at a later date. ---
**Author:** ![Theodore](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/theodore/32/71187_2.png) [@Theodore](https://community.monzo.com/u/Theodore)\ **Post date:** [14 March 2018 13:12 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/16 "2018-03-14T13:12:35Z")
Interesting. Well I’d be certain that the younger demographics would use it. As with all the major banks, they acquire longlasting customers with their student accounts. Young adults and students of today and tomorrow utilise digital services more than physical branches. I personally think it’s a great idea to see all accounts in one place I use both my RBS and Monzo apps in conjunction with each other as compliments rather than competitors. ---
**Author:** ![anon79091595](https://avatars.discourse-cdn.com/v4/letter/a/a9adbd/32.png) [@anon79091595](https://community.monzo.com/u/anon79091595)\ **Post date:** [19 March 2018 09:46 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/17 "2018-03-19T09:46:17Z")
If it’s only open to current account customers, then people like me with a Basic bank account will probably never be able to access it. ---
**Author:** ![Theodore](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/theodore/32/71187_2.png) [@Theodore](https://community.monzo.com/u/Theodore)\ **Post date:** [19 March 2018 14:47 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/18 "2018-03-19T14:47:30Z")
Can you @anon79091595 aborate on the distinction between a HSBC current account versus its “basic account”? I imagine current account are the standard accounts for major banks’ customers. ---
**Author:** ![MrArkadin](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/mrarkadin/32/14378_2.png) [@MrArkadin](https://community.monzo.com/u/MrArkadin)\ **Post date:** [11 May 2018 05:38 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/19 "2018-05-11T05:38:54Z")
Basic account is for non-residents and newcomers, main difference to the standard account being it allows 0 credit (no overdraft, no contactless, etc) ---
**Author:** ![anon557496](https://avatars.discourse-cdn.com/v4/letter/a/76d3ee/32.png) [@anon557496](https://community.monzo.com/u/anon557496)\ **Post date:** [10 May 2018 20:02 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/20 "2018-05-10T20:02:25Z")
What does everyone think of this new app?! ---
**Author:** ![anon72173902](https://avatars.discourse-cdn.com/v4/letter/a/b38774/32.png) [@anon72173902](https://community.monzo.com/u/anon72173902)\ **Post date:** [10 May 2018 20:19 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/21 "2018-05-10T20:19:41Z")
Looks like just another aggregator ---
**Author:** ![TTJJ](https://avatars.discourse-cdn.com/v4/letter/t/5f8ce5/32.png) [@TTJJ](https://community.monzo.com/u/TTJJ)\ **Post date:** [11 May 2018 00:42 UTC](https://community.monzo.com/t/hsbc-connected-money/34419/22 "2018-05-11T00:42:27Z")
It does look quite nice but the way it displays a number of my accounts is not correct, I have raised this to them though and they were interested in how they could resolve it. The updates seem to take an awfully long time though so it’s not very ‘instant’ as I’ve come to expect. HSBC doesn’t provide access to pending debit or credit card transactions so it’s a little annoying in that aspect too. [Next page](https://community.monzo.com/t/hsbc-connected-money/34419.md?page=2)