Complaint Rating:

Company information:
HSBC
Copley Dr
San Diego, California
United States

HSBC auto finance in San Diego, where do I start? Well first of all, I worked there for 2 years, so everything here is true. There are so many levels of fraud and incompetence at HSBC that I am extremely amazed that it took this long for them to go belly up. Yes, they closed their auto refinance and finance doors a few months ago in 2008. Too bad.

Unfortunately it was about 5 years too late. I have read so many unhappy people that dealt with HSBC auto finance. I was loan account manager & then a loan funder in San Diego. This was the span of my two year at HSBC hell.

The first of many critical errors with HSBC is that they do not train their employees, nor do they require any sort of a degree in finance or banking. If you can con people into refinancing their auto loan, you are going to be loved. Once you see that HSBC targets people with '' sub prime '' credit and worse only to not make their life better but to beat them to death with fee's.

The managers were never around. They would ignore when one of their team members was breaking the law because that person was making their numbers look good. This is not unlike Wall Street today.

At HSBC there was no overtime. People would work OT all the time but not get paid because there was not authorized OT. But if you worked it and played phone games to make it look like you were not there, no one cared. The management was so blind that they would not even know how to do the job of the person that they were managing. I was a funder also and my boss never ever funded. But he told me how to do it. Funders work OT all the time and NEVER GOT PAID OT. Ever. I saw it happen everyday. Employees would work OT, with their phones logged out and keep working to fund more loans. Because the more loans you fund, the more $ you make. If you were to be a normal employee and take law required breaks and leave work on time, you funding was average at best. Only when I started working OT and not getting paid, did I start to be at the top of the funding list.

HSBC is a fraudulent, incompetent and illegal place of business. No wonder there is so many lawsuits. HSBC target's people with bad credit because they know they will be late with a payment and then HSBC collects late fee's. If you had a FICO score of less than 500, you were approved.

HSBC san diego is no longer in business and it is no wonder why. If you ever are going to be financed make sure you find out who it really is behind the bill. I got a class action lawsuit letter in the mail from HSBC yesterday and I have not worked there for over a year.

HSBC target customer is the low income, bad credit, ignorant, excited to refinance to skip a payment group of Americans. Usually minorities. It is everything that is wrong with the USA and I am glad that they are no longer doing auto refinance in north america. You reap what you sow HSBC.