HSBC Credit Cardfees charges

P Review updated:

I once believed that hsbc was a decent company because of their commercials but all has changed. I just received a hsbc visa platinum credit card, and because of exceptional fees that can be charges, have canceled the card after 2 months of use.

The fees were incurred when setting up automatic payment. although I have used the same account number to set up other accounts for automatic payment (example ford finance), hsbc indicated that the payment was rejected by the bank as an invalid account. I then copy and pasted the account from a bank statement and once again the payment was rejected according to hsbc. I contacted the hsbc card services to confirm what the problem was and their representative said that it appears that the payment went through but to check back in a few days. when I did, I discovered a $35 charge for each of the rejected payment on same account that were used in setting up other automatic payment schedule. when I call hsbc card services about these fees, they said that there were legitimate fees and that nothing could be done because the account number provided was incorrect. this was the same account number that was copied and pasted from the back statement and all that was missing were the prefix "0000" that only their system could not handle, but other system can with ease. I feel that this is an example of credit card companies making a grab for cash from consumers using their product.

Results, I ended up paying $70 in fees for a $24 account balance. never again, and will advise all to stay away from this company and their credit cards. now I see why hsbc has to advertise so much, if I am an example of their treatment.

Ps: I thought that loan sharking was illegal, but this bank is able to charge and annual percentage rate of 35.20% on purchases. to me it makes al capone look like a saint when it comes to business.


  • N
      May 23, 2010

    I made a payment from my bank 12 days in advance of when it was due. At the end of the month I was charged $39.99 for late fees. I faxed all the documents from my bank showing that the money was removed from my account 12 days ahead of when it was due and sent to them. They kept denying receiving the proof documents. I faxed the documents to them 4 times confirming the fax number each time to their Document Department. To this day they have not received the 5 page fax I faxed 4 times!

    They keep denying receiving the payment in time. The bank online payment to them was finally recorded a month later than when it was due. In the meantime I sent another payment, this time electronically to make sure they don't sock me with additional interests and fees. With an online payment, they cannot blame the mail man.

    HSBC refuses to remove the late fee. I never incur credit card interest since I always pay off my cards on time. I guess this is another way for them to make money. Just don't show recipt of the payment and charge the fees. What a racket!!

    I believe this is a deliberate practice since I used the same proven method of making payments to HSBC on the same account. I believe they received the payment in time but did not post it to justify the late fees. I wonder how common this practice is so please feel free to post. If it is common, we need to do something about it. I will never use HSBC again. With incompetent idiots on the other side of the line, the competition offers much better customer service alternative.

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