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HSBC - Checking/Debit Card Services / deceptive business practices

1 3910 MAIN STFlushing, NY, United States Review updated:
Contact information:
Phone: 1.800.975.HSBC

I am so fed up and disgusted with this bank; it by far the WORST bank I have ever dealt with in my life. As for my specific complaint: HSBC Customer Service Reps appear to have a policy that encourages them to deceive customers about their actual and real available balance so that customers will go into overdraft and incur fees. On three separate occasions I called up HSBC customer service and asked for an accurate balance, taking into account all pending charges (that they can see right there on their screen) and all three times I was given false information, leading to my going into overdraft and incurring fees. The last and final time this happened was this past Saturday, when knowing full well that I had a pending transaction for $150, I called up customer service and asked them if the $150 in my checking account was available or if there was a pending transaction to which it was already tied. I was told that it was totally available and that there were no pending transactions - this was a flat out lie. I took the money out of my account, and sure enough, the next day I was at a negative balance, with all types of overdraft fees. I went to a branch and told them that I had evidence that either they had criminally inept customer service reps, or (more likely) they had a policy of withholding information from their customers when doing so would incur fees. I was thanked for pointing out the problem, and promised that it would be kicked up to upper management. Bottom line: HSBC engages in deceptive, fraudulent, and criminal practices, and I STRONGLY recommend that you consider another bank.

Ga
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Comments

  • Ra
      28th of Jul, 2008
    +1 Votes

    Beware of HSBC. They have deceived me couple of times and I finally closed down their checking account recently. I had a checking and savings account with HSBC. Very smart thing about HSBC is that they will never let you use HSBC savings account as a line of credit for over draft protection. So I was forced to open an HSBC credit card account just for overdraft protection for my checking account. Within 6 months I was charged with about $150 overdraft protection fee just because of their account balance inaccuracy. HSBC customer service is in India and they are also very rude. I ended up paying more banking fee than the interest they paid me for my savings account. So I closed down both their credit card account and checking account just two weeks back. If you ever open a HSBC checking account, you will definitely come across this issue.
    HSBC - THE WORLDS WORST BANK.

  • Li
      31st of Mar, 2009
    -1 Votes

    I've never had any sort of problem with HSBC, and I live paycheck to paycheck just like a lot of people out there. It's not the bank's responsibility to keep up with your check register. You stated that you knew good and well that the available balance should have been $150 less because you knew there was a pending transaction. Yet, you used the money anyway. This isn't the bank's fault. It's yours. Manage your money wisely and go by YOUR records. It's not the bank's responsibility to keep you out of the red.

  • Gr
      22nd of Jan, 2010
    +1 Votes

    this might be a little old as too the last post but, I whole heartdly agree. I have no overdraft protection on my account. So I made a purchase using only my debit card for a car part for $15 in which I returned the same day but, since I used my debit card and not cash it will take a few days for the funds to be put back in my account. Well my available balance was $30 I took out $20 and spent another $5 on coffee. That would put me at an available balance of $5 and eith my refund for my car part of $15 I should be at $20. Well I checked my account today and -$14.79 which makes no sense. I called and some rude women from India said that they cannot check my transaction history until tomorrow and sounded completely confused and unable to give me an answer as too my negative balance. How in the world is my checking account in the negative when A...I have no overdraft protection B... I never write checks C... I should be plus $20 not -$14.79 ???? Makes no sense if I don't have available funds my debit transaction would always come up DECLINED!!! How can I owe them money with no overdraft protection on my account which I purposely made it that way to avoid situations like this???

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