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HSBC Bank / refinancing

1 P.O. Box 2013Buffalo, NY, United States Review updated:
Contact information:
Phone: (800) 975-4722

Do not use hsbc for mortgages or refinancing unless you love to go through hell and lose money. I have investigations ongoing from state and federal agencies along with the better business bureau into the business practices of hsbc bank, mortgage division. the complaint concerns two issues:
1.) deceptively assuring customers that loans were pre-approved to collect non-refundable application fees
2.) performing fraudulent appraisals.

On february 5, 2008 I inquired online to hsbc bank on the refinancing of my manufactured home. hsbc bank is the current lender for my mortgage for over 15 months which I have had no prior issues with or had any late payments on, so I thought it was in my best interest to continue my business relationship with them. I received a call of pre-approval from denise olszewski of hsbc at [protected] ext. 6393 and she brought up my account and asked me for more personal information and brought up my credit report. at this time we locked in a rate at 5.6% and I was told that I would have to pre-pay a non-refundable application fee of $525.00. at the time she brought up my credit report, which is a credit score of 678 and said that with all of the information she had that the refinancing should go smoothly and quickly. knowing that they manage my mortgage and have for over 15 months, I paid the $525.00 after being assured that the refinancing would be done. after several days I contacted denise to see how the loan was progressing, and was told that hsbc does not refinance manufactured homes and that they would not able to refund the application fee of $525.00. being that they have managed my account for over 15 months I was puzzled why they did not tell me that they could not refinance my home before they took my “non-refundable” application fee.

at this point I submitted a formal complaint and received a call from denise’s supervisor. I explained my frustration that I was assured and pre-approved for a loan which they ultimately would not provide and that they would not refund my money. I would not have given them the application fee of $525.00 if I would have known they would not refinance my manufactured home. she told my that I had given denise false information concerning the property type, for which I stated that not only did I not give any false information, but that they have all of my information from the current mortgage which would made it impossible to falsify my information. at this point she told me that hsbc buys mortgages in bundles and has no idea of what those mortgages are, but she would investigate.

She called the next day to inform me that hsbc would not refund my application fee of $525.00. I the told her that I could not believe that after 15 months of making thousands of dollars from me that this business relationship was going to go sour over $525.00. she then apologized and said that the $525.00 could not be refunded because it was used for an appraisal of my house. I told her that there was not an appraisal done of my house and she checked on her computer and said that one had been done. at this point I told her that I am a certified appraiser ii for the property tax division of the arizona department of revenue and that a drive by picture of a house may justify as an appraisal in new york, but not in the state of arizona. she then checked the computer again and said that a full appraisal had been done of my home. I told her that in order for a full appraisal to be done, the appraiser would have to enter my home and therefore I would have to be present or someone representing me would have to be there. she insisted that a full appraisal was done. I then asked her how did someone get into my house and why would hsbc perform an appraisal on a house that they would not finance. she did not know. I then asked for the name and license number of the appraiser. she said that I would have to talk with underwriter judy harway at [protected] ext. 5173, but quickly said that she was not in that day.

I have left messages with judy harway, but she refuses to return my calls. at this point I felt that there was some kind of fraudulent or criminal business behavior going on and I wrote in another formal complaint to hsbc stating that I was going to file a complaint to the comptroller of the currency, the new york attorney general’s office, the new york division of the better business bureau and the united states justice department asking for a full investigation into the mortgage practices and possible fraudulent appraisals performed by hsbc bank. since issuing complaints to state and federal agencies and multiple complaints to hsbc I have heard no response from hsbc and have not had any money refunded to me at this date.

The moral of this story is stay as far away from hsbc bank as possible. they will find a way, legally or not to take your money.

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  • Li
      11th of Nov, 2008
    0 Votes

    My name is Linda Vu I am a student at University of Greenwich. I was recommended by a friend to invest my student loan into a mini cash individual saving account (ISA) in HSBC.
    On 29th March 2008, I opened the mini cash ISA and invested £3, 000 in cash. After I received a letter which confirmed that the account was successfully opened and that the total amount invested came to £3000.

    About six months after, I decided to a visit a different branch of HSBC to check my balance as I have never received any statements since the account was opened. On the screen, it indicated that I only had around £1000 in the account, which I had deposited into my account a few times in the time I opened the account till 6 months later. It showed that the £3000 I had invested had not been deposited or withdrawn.

    With this on my mind I went to the branch I opened my account with in Dartford and ask to speak to the manager but was told he was too “busy” to see me. The person who spoke to me replied that the money that I invested when opening my account was not there. She then said that the manager would get back to me regarding the issue.
    I returned a few days later as I had not been contacted about the issue and therefore asked to speak to the manager only to be told he is too busy to speak to his customers. I was then told to talk to another member of staff who said that they will be investigating by checking all the account, speaking to the person responsible for opening the account “Tom Kazza”, and by checking their CCTV security system.
    I was then told that the manager will definitely contact me within the next two days.

    I was not surprise at all when the manager failed to contact me which made me have to go to the branch for the third. Again I was told the manager was yet again busy so I had to speak to the sales manager who said that the £3, 000 transaction was not made on any accounts in that branch on Saturday 24th of March 2008, their CCTV camera did not go back 6 months and that they do not accept cash on a Saturday. The sales manager also indicated that the person responsible, Tom Kazza, was new at his job. Questions were going through my mind such as “why was he allowed to open mine or any other customer accounts and take our money?” and “Who else has he done this to or is going to pull this stunt again?”
    She also said the letter of confirmation I had shown is not regarded as proof and wanted my account statements to prove I had that amount in my account.

    After being told this, I took a trip to the police station to inform them that Tom Kazza or HSBC has stolen my money, I showed my evidence that I had £3, 000 in my other account and the letter confirming £3, 000 has now been credit to your account.
    I was told by the police that HSBC do have the CCTV that goes back to the time my account had been open. In order to open mini cash ISA, I would have needed to deposit money onto it, so therefore how could I possibly open my account on the 24th of March and have a letter confirming I had opened it and the amount I put in prove not to be enough evidence. I was told that in her opinion it was enough proof. I was then advised to go back to the branch to get a letter, which should say that no transaction of that amount was made, and bring it back to the station so that they could investigate the matter.

    The HSBC branch in Dartford has been very unhelpful leading to a very distressed and an unhappy customer. Each time I went there, I was told the branch manager was too busy to see and that he will contact me and unfortunately happened three times

    When the new manager Hayley Lowe finally investigated the matter she sent me a letter confirming there is no evidence £3000 was credited into my account, of course I was extremely angry so I called up the head office where they said further investigation will be required. I then went into the branch to talk to Hayley to understand what investigation she had done, the only thing she done was talked to Tom Kazze who said “he remembers me and that I did not credit no money in” and that no account within the branch received the £3000, however to open a ISA account you need at least £1 in order for your account to be opened, of course the manager said you don’t need to put no money in, this is when I asked for a leaflet which she went and got, read it, and annoyed “yes you was right you do need to put £1 in but you don’t really” what kind of response is that? I then demanded for another investigation as Tom Kazze or another member of staff has taken my money.
    I gave her my Halifax statement to prove I had £3000 in my account during the time I opened my ISA account. During the three weeks after the interview, the senior manager Rebecca Kemp called me up saying they are investigating the matter and can look at their CCTV the date I opened my account.

    The 11th of November I receive a letter from Rebecca that “the declaration letter handed to you at the time of opening your account had incorrectly stated the subscription amount and, have fully investigated the matter, I can confirm that we did not receive any funds from yourself on the day opening the account” I imminently called her up to see what they did to investigate that Tom Kazze has taken my money, she replied she has evidence that I did not cash in no money via investigating Tom Kazza again in front of he’s manager and looked at the accounts, this is the same investigation they did before, I keep on repeating you said you was going to check your CCTV, Rebecca replied “we feel we have enough evidence from Tom admitting he’s done a faulty on typing in £3000 and checking all of the account” this is not a fully investigation that he’s taken my money and I have not been treated fairly as a customer as I replied many time did you check your CCTV as that’s the evidence I did give Tom Kazza £3000 in cash, Rebecca kept on saying “for the final time we have done our fully investigation!!” this is not including the CCTV. I kept on asking “but have you checked your CCTV” and she said “for the final time we have fully investigated the matter” then rudely hung up the phone on me! She would not answer my question as she has not investigated the issue fully. I am a very unhappy customer who has been distressed and emotional for the last 2 months as they have not been treating me as a individual, refuse to give back my money that I invested in and I feel as I am being discriminate due to my age of being 20. Tom Kazza has taken my money please help!

    Please contact me on 07809879949 or email me on for more information. I will be happy enough to do interviews.

    Thank you

  • Li
      21st of May, 2011
    0 Votes

    Mr. Gibson, I have also filed complaints with the Division of Banking, Federal Trade Commission and Consumer Affairs and also a formal complaint to the Executive Office at HSBC, all to no avail. I was not aware till my google search of all the complaints being charged against HSBC's practices. I would very much appreciate it if you or anyone else who has filed a complaint with regards to HSBC, would contact me to discuss further. It appears nothing is being done to correct these issues addressed in the complaints. There is strength in numbers...
    please contact me at Thanks, Lisa

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