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HSBC / overseas wire transfer delay

1 Egypt


After two years of good relationship between our company and HSBC as one of the horned organizations in the banking services, I am sorry to said that we are considering to reevaluate our business services with HSBC due to the continuous delays of our overseas transfer performed via the internet banking.

The story repeated for more than four times, each time we make the transfer and fill in all required information, and after 3 to 5 business days a HSBC’s representative call us to ask about the transfer information (knowing that it is the same vendor that we transfer to him each time) and what it is for and what is the name of the company and what we are working for and … and … and …

Finally he is inform us that the transfer have been canceled by USA branch, and it is out of his hand, and the only what we get 1) the apologize for HSBC (each time) for this, 2) delay penalty from the vendor due to the delay of transfer.

The issue is that our company name is ” URANIUM, for Information Technology consultation services “and HSBC USA is always thought about us as uranium producer not IT service company, knowing that all leagal documentation and paper work for our company (which of course HSBC have it) is prove that we are only working in information technology service filed only

I don’t know if we can resolve this but unfortunately HSBC agent inform me that this issue will still present each time that we made an overseas transfer, and the only solution is to change our company name and this is was the latest word that I could imagine a big organization like HSBC thought about.

So could you please advice if there is a permanent resolution for this, or should we start doing business with other entity that can be reliable on this service ?

By the we already deal with other three big banking names before HSBC for about four years and this issue did not occurred at all.

Thank you for your support,

Mohamed Hamed
Accounts Manager

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