Which? chief executive, Peter Vicary-Smith said:
“I’m delighted to see HSBC taking steps that will prioritise service over sales, and we want to see all banks doing the same. This is part of what needs to be done if we are to restore trust in banking. We want all bankers to meet high professional standards and comply with a fully independent code of conduct, backed by statute, with genuine sanctions for malpractice.
“Consumers have been let down by the banks for too long. 2013 must be the year that we finally see big change in banking, with banks that work for customers, not bankers. This is the start of that journey for HSBC – a key step, but only the first of many.”