Feedback about HSBC bank on consumeraffairs.com:
Richard of Elkin NC (06/04/06)
In August 05 I made an online payment to my GM credit card (operated by HSBC). The other credit card company's I deal with, show on the payment screen which account or bank that the payment is coming from. Without seeing this I made a payment from a checking account that I had closed. I got an e mail that the payment did not post. So I called the 800 number to make a payment so I would not be hit with a late fee. The phone payment was $15. The bounced payment fee was $35. So I am out $50 because of their poor web site design.
I did, at the time, try to call and e mail them to tell my side of the story but to no avail. In one e mail I sent to them I got the replay “Per your Cardholder Agreement, it is known that you must make monthly payments to your account as long as you have a balance due” - like I didn't know this. I have cancelled the credit card and will stay away from GM products. (Naturally I do not know if they have fixed the web site since August.) I am always amazed when corporations will spend millions on advertising and yet lose customers over small things like this.
Gary of Cocoa Beach FL (06/02/06)
I opened an HSBC online savings account with the understanding that interestwould be paid, as per their written terms and conditions, at the end of each month. Not so as my account did not show any accured interest had been earned. I called the bank and they flatly contradicted their own written policy as interest is paid on something called a 'monthly cycle' In other words its paid on the day of the month following the month you opened the account and on each of those days thereafter. So if you opened your account on May 6 you will get interest not on May 31 but on June 6 and so on.
John of N Falmouth, MA (05/17/06)
Answered ad for a Household Bank Platinum Mastercard for 0% introductory APR fixed rate for first 12 months for purchases and balance transfers. Intro letter states "upon approval, we will send Balance Transfer Checks in your Welcome Kit so you can make your transfers easily. When you use these Checks there's no transaction fee".
Within a week I received a package with checks, thanking me for requesting these HouseHold Bank Credit Card Checks. This was the only package or correspondence I received from the bank.
I made out two balance transfers and sent them off. The next correspondence I received was a bill indicating the transfers were not at 0% but at 29.51%. I immediately call customer service. They justified the rate saying, "Oh, you must have used the WRONG CHECKS, those checks are credit card checks not balance transfer checks, so it's like cash".
I now have to pay off a debt that was 9.9% before the transfer, but is now at 29.51%. And to top it off, because of the high interest rate combined with the second bal txr check I sent, my request was not honered by HouseHold Bank because it would have put me over my CREDIT LIMIT. Thus, that check ended up bouncing causing late fees and raise of APR on my card.
Oneil of Brooklyn, NY (04/21/06)
I had problems getting my direct deposits from the bank, so I got frustrated and closed my account. A few years later they contacted me by mail and said that I owed them $31.80 for online banking. I have never had online banking, mostly because at that time I did not have internet access. HSBC placed my record into the Check Systems, and I had my company's bank account closed with Commerce Bank, and I haven't been able to open a bank account since.
I have been contacting them in person and over the phone to correct the mistake. I asked them to give me, in writing, the amount I owed them and for what reason. They did not want to give me any documented proof that I owed them or the reason.
Jeffrey of Cheektowaga NY (04/14/06)
They began charging me for some "credit protection' service with out authorization. After I caught them the refused to even stop the charges. Then they charged me again and it happened to put my account over the limit for ONE day and they charged me $30.00. For any other vendor there is a on-line dispute form. Of course this DOES not work when they are charging you in house fees and extra services.
My interest rate went up from 19 to 21 % and they charge my about $35 in fees plus hit my account 2 times for over the limit
Judy of Elmont NY (03/16/06)
HSBC Bank has been charging me a fee of $15.00 per month for over eight years. I had a direct deposit through my job and should have not be charge this fee. I was told that this fee would be charge because I didn't not maintain a balnce of $15,000. I know that this is not possible, because I know that I don't make that much money a month to have that kinda of balance in an account.
Dana of Charlotte NC (02/25/06)
They raised our rate from 9% to 13.25% and cannot tell us how they came up with this calculation for the increase. Our mortgage payment is now $1800 and we cannot afford it anymore.
Kathleen of Lincolnton NC (02/01/06)
They keep calling me and Harrasing me telling me I need to pay my outstanding bill, when in fact they have the wrong person. They are asking for Ms. Kathryn T when I am Mrs. Kathleen T. I guess they can't spell! I do not have any accounts with them and have no Idea where they got my number. This company has called my house six times in the past 3 days. They were extremly rude to me and hung up on me or said they would call back. I have been patient and tried to expain to them they have the wrong person and they don't seem to believe me. I Told them I am Kathleen not Kathryn and they don't seem to realize these are two different names.
David of Phillips Ranch CA (01/27/06)
Imade my original purchase at a local Best Buy Store for a digital camera. The salesperson suggested that if I apply for their credit card and get approved, that they would give me 18 months, No Interest to pay it off. What a great deal!!! That would make my new camera $20 a month. Since that day, 10/22/05, I have never received a statement or a credit card. The first month, they called and said that they had not received my payment and that they were going to report me to the credit bureau and ruin my credit if I didn't pay right now over the phone.
I have no problem paying, it was only a $11 minimum payment, so I told them that I could give them a check by phone. They wanted to charge a $15 fee for that service, I explained since they never sent me a credit or a statement, that I should not have to pay a fee for this. They would not waive the fee, so I told them to resend my card and statement, and that I would mail a check the same day that it arrives.
Another month goes by, and still nothing, and another threatening phone call from them again. This time, they have added $58 in late fees to my account??? And want me to pay all of this now, or ELSE!!! This is now the 4th month and each time, I receive the same threatening phone call. I have had perfect credit for 8 years now, and I am only just turning 26, so I have had perfect credit my whole life. I make car payments, rent payments, etc. without any problems, obviously $11 is no going to put a hurt on me, I can get that money from my next door neighbor if I needed to.
Snezana of Glendale NY (01/03/06)
In October of 2004, I purchased a laptop in Best Buy in Queens, New York and they told me that I don't have to pay no interest, no payments for 12 months. In the meantime, I was receiving a payment statement every month to make minimum payments. Myself I contacted them which their answer to me was " that's how our promotion works". Myself, I can't read or write in the english language, so myself I could not understand the statements they sent to me every month. When my November statement arrived I realized the amount was going up instead of going down.
So I went to my neighbor and she told me that they put the finance charges for the whole 12 months. I tried to resolve with them the situation but it there was no luck. That is why I'm asking the consumer affair to investigate this type of misleading because this is unfair to the people.
Tomeka of Murfreesboro TN (12/29/05)
My car payments are late due to unemployment. I have given HSBC updated information. However,they have called and harassed my sister daily on a consistent basis. I lived with her momentarily. I gave them updated information (new address), the consisted to call my sister, friends and relatives (none of them are co-signers. They also repossessed my car after I had spoken to someone, made an agreement to sign a new contract which would re-amortize my account and bring current, and pay a specified amount to bring account current.
A package containing the new contract and guidelines was express mail to me to sign, date, and seen in a payment with a deadline date of December 30th. They repossessed my car before the deadline and did not notify me. The gentleman that repossessed my car called me that morning and I explained to him about the agreement. He claimed that it was an error on their part because it happened all the time. Anyway, I called him back after I realized my car was gone. This man claimed that he did not know what I was talking about and he was not the individual whom called me about repossessing the car. He told me I had the wrong number. Guess what, my sister and I both had the same number on our caller id. He called us approximately within 5 minutes of each call.
David of West Seneca NY (12/15/05)
They repoed my truck when i was not at 3 payments behind and even so i contacted them and told them i was going to be behind do to me being on workers comp and also told them 1 week prior to them coming to take my truck that i mailed in 80% of what i owed them and even with a customer servce rep telling me ok everything is ok they still came to take it away.
Cathleen of Montville NJ (11/26/05):
I received yesterday a Mastercard from this bank with a credit limit of $300. I purchased items amounting to approximately $180. When I tried to use the card again today it declined my purchase for approximately $93. How could that be, when my beginning limit is $300?
When I spoke with ANN from HSBC bank, she said that the ANNUAL FEE was CHARGED TO MY ACOUNT and that brought down my credit limit to actually $240. I said that it was complete crap -- this was not explained to me when I activated my card. I do not have this card for one year, only 24 hours.
This bank LIED -- I did not have a credit limit of $300 for MY purchases but instead this bank decides to DEDUCT from my credit limit their ANNUAL FEE.
Valerie of Lawrenceville, NJ (11/2/05):
I sent them a certified letter 2 weeks ago stating that the amount they have on my statement is inaccurate and that my vehicle is supposed to be paid in full. And to please mail my title to my vehicle. Thay have not answered. No one answered me as of 11/2/05. Every time I call HSBC I get a rude and obnoxious representative telling me to pay or they will reposess my car and that I still owe $7,000.00 on my vehicle.
Deborah of Woodstock GA (10/11/05):
I spent $4,722 on furniture at a Thomasville furniture store in Atlanta. Promotion was 12 months, no interest. At that time, I financed the furniture through HSBC. I have NEVER received a monthly invoice or statement from them. I have to remember to call them each month to request a duplicate statement, so that I can make a payment.
On September 19, 2005 I enclosed a letter with my payment, advising them in writing about this problem. I notified them that I would NOT pay any finance charges that accrue if the account is not paid off within 12 months. I accused them of NOT sending me statements so that finance charges WOULD be incurred, and copied the Thomasville store manager. It is now October 1th. I have not yet received my October bill (I was told it is generated on the 1st of each month), nor has my letter been acknowledged.
Although I bought the furniture in April, I have made only 2 payments, because I don't always remember since I don't get a bill.
David of Dayton OH (9/21/05):
I have made the following payments on my second mortgage: September 8, 2005, $583.12; Cleared the bank September 8, 2005. I ghen paid $67.00 payment due to a company spokesman stating that I owed more money. Paid and amount not credited. September 13, 2005 paid $58.00 through their online service. Again payment not credited.
Now I have overpaid them for my August payment and have received several calls per day from them trying to collect my payment which I have already made. Once they look at my file they say, "Oh, your payments are in the research department and we do not know why the payment has not been credited but promise to not call anymore." Then the next day I get bombarded with phone calls from this company starting this all over again.
George of Ortho IA (8/22/05):
This company has a problem with overlimit fees. Even if you're not over the limit, they charge them anyway. Does not matter how much you calculate it out with them, does not matter how much you try to reason with them, they will do whatever they want and try to blow you over with their fancy lending jargon.
For the past three months I have been charged the overlimit fee without being over the limit, and will continue being charged this fee because I recieved one the month prior. This company really needs taking a look at.
I will never be able to pay this card off. With their overlimit fees and finance charges, I will be buried for life. I think that's the game plan.
Deborah of Langhorne PA (7/25/05):
I received an offer letter in the mail for 0% Intro APR until August 2006, no annual fee and 7.9% fixed APR after that. This specific information jumped out at you in the letter. I got my statement and was charged a $75 finance charge. I pulled out my letter and that's when I realized that on the back of the letter in fine print it mentions a 3% balance transfer charge.
My complaint is that HSBC should advise you of this charge in their letter. Nowhere in the letter does it mention this fee with the 0%, no annual fee, 7.9% fixed offer. I feel they have deliberately misled the consumer by omitting to inform the consumer of the fee in the body of the letter. Why do they hide it on the back of the letter in fine print? Because they want to HIDE this information, which they did in my case.
Gerard of Tobyhanna PA (5/20/05):
Lost mortgage payment, we faxed front and back of cancelled check to no less than 5 people at the company, they still harrassed us with calls requesting payment. It took over a month to correct the problem, and then they turn around and lose it again. Finally we refinanced to get away from these people and now they want to know why we didn't consider refinancing with them.
Now they are charging me over $4000.00 prepayment penalty -- is this fair?
Valier of Riverview FL (2/21/05):
Tommy R. C. is the original account holder for a purchase made at Rooms To Go. Mr C. had a balance of $501.92 with this account. Mr. C. was the only person on this account and the one who signed the application. Mr. C. filed bankruptcy so the company ceased the attempt to collect the debt in his name. Now I (Valerie C.) am getting bills in my name, and for an amount way over the amount Tommy C. had on his last bill.
When I tried to advise HSBC of their error and I asked for copies of the original credit application showing that I had signed for the account the representative stated that I had received bills in my name. All the billiing from both Companies were in Mr Tommy C.'s name. I stated that and the representative hung up on me.
I can assure you that I have not signed for any credit with either Rooms to Go or HSBC. How can a company bill someone for an account that was not theirs to begin with? My credit report is showing this as a negative item.
Source: consumeraffairs.com/finance/hsbc.html
