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HSBC / terrible bank

1 United States Review updated:
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At Target yesterday, in the check out line, my card denied. Called HSBC they said nothing personal, across the board, protecting ourselves. Lowered my limit from 8600 to 3300 with no notice, no reason. Always pay on time, never overlimit, had account for app 8 years. This was 2/24/09, they said they would be sending a notice out on the 27th!!! I use my card for everything during the month, then usually pay it off at the end of the month. It has always been convenient for keeping track of purchases. Anyway, now I am overlimit. They best not charge me an overlimit fee! I'm sure my credit scores which are excellent are going to drop. We are planning to purchase a home this Spring, so have been working hard to make sure all is in order, am afraid this may have really messed us up. Funny, I have 2 cards HSBC and Bank of America which I rarely use, BOA just increased my limit by 3000 last month!! What's up with HSBC, very bad business. I will not use this card again.

Ja
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Comments

  • Va
      7th of Nov, 2008
    0 Votes

    I believe that at this company there is a systematic plan to rip people off by 'losing' payments and delaying payments. This has never happened to me before in twenty years of sending payments to other companies (many) in the US mail but has happened twice in the last year with this company. Once with HSBC Business solutions (I was told by customer service that the payment must be 'lost in the mail') and once by Household Bank (a consumer account) took 11 days to post. And guess what? its the same company. The payment that took 11 days to post is sent to the same city that my sister lives in and it takes 2 days for letters to get to her (everytime!). Anyway it seems that it would be simple to statistically prove that an anomaly is present in mail being 'lost' and 'delayed' to this company (and all of its' branches) and not to other companies. It might also be possible to trace mail to the company or track a big population sample and see what happens. The company has a big financial motive to 'lose' or delay our payments and it is doing just that, we need to stop it and make them accountable for this!

  • La
      7th of Nov, 2008
    0 Votes

    Use the cancelled checks and your statements - Do they show they were processed by HSBC before the due date? If yes - you have a valid complaint.
    If no - they were probably delayed in the mail.

    They will process your checks for payment as soon as received.

    File complaints with the Federal Trade Commission and Office of Thrift Supervision

  • Ed
      6th of Jan, 2009
    0 Votes

    Recently, the school system for which I worked acquired a new bookkeeper. Consequently, my paycheck was late. I called HSBC on the day my payment was due to let them know that due to the above circumstances out of my control my payment would be one business day late. The customer service rep said no problem, I'll note your account. I made the payment as promised.

    HSBC slapped me with a late charge. We went around and around on this issue, and I have the emails to prove it, before they finally credited me the late charge.

    Two weeks later I get a letter in the mail that they're raising my interest rate to 26.99 percent or I could keep my present rate with them if I wanted to close my account. I emailed and told them I wasn't going to pay, and furthermore, if my business with them isn't important enough to keep my interest rate at its present level and keep my account open, then my money wasn't good enough for them either. We went around and around again (and I have these emails as well) with their repeated request that I call their customer service and me replying to them, you have my phone number and the last time I called your customer service it didn't do me a bit of good.

    I prefer everything in writing now when dealing with these banks, whether it's email or snail mail. I believe the raising of my interest rate was pure retaliation, just because they could. I'm through lying down to be a convenient doormat for banks.

    I refuse to pay until they lower their interest rate, plus now drop all the resulting late charges they've added to my account. I don't give a damn about my credit rating--this is a merely tool created by the banks to herd frightened people into line. What they don't tell you is that in two or three years of regular, on-time payments to your other accounts, your credit rating bounces right back.

    I have two other banks who thought to arbitrarily try to extort more money out of me by raising their rates that I have also refused to pay--Bank of America, who pulled the classic bait and switch when I did try to work out a settlement with them, and WaMu, who tried to extort ten more points in interest out of me just before they went bankrupt.

    To my way of thinking, these banks have already made their money on me, in interest alone, and now I get to pay them a second time because of the bailout. I don't feel bad for not paying them. I think more folks should stand up to them in this manner--perhaps then they wouldn't try to blatantly rob us like they do when we let them.

  • Hs
      2nd of Mar, 2009
    0 Votes

    hsbc is scammer bank.

    /URL removed/

  • Pe
      22nd of Jun, 2009
    0 Votes

    My payment account was overdrawn about $50. Once my tax refund was deposited into my savings account they dug their hands in it and took the money that was owed. They closed my checking and my multiple savings accounts and will not let me withdrawl the money that is in there. They said that I still owe them the overdraft fee and they have no records of it being paid. What a bunch of lies. So basically they have stolen my hard earned money. Please stay clear of this bank they are out to get as much of your money as they can.

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