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PO Box 6125,
Coventry, England, West Midlands
United Kingdom - CV39GW

Complaints & Reviews

ecs debit even after closing the personal loan a/c

I have taken personal loan A/c no. 101-[protected] from HSBC Bank, Ahmedabad and preclosed with receiving letter from HSBC Bank Recovery Agency, dated 22/06/2009, REF: FFSPILNWOFFAHDHCDEV ENTERPRISE22062009758. I have given the asked amount also, whatever writen on the letter and received the receipt no.PLB2 0555424 of the given money.
Now on 11/07/2009 when i saw my Kotak Mahindra Bank A/c I came to know that Rs.5219/- has been debited through ECS to HSBC bank, which I already closed.
I request you to kindly guide me how to take back my money from HSBC Bank.
Ravideepak Verma

  • Ma
    MANISH.PANDEY Feb 23, 2010

    Dear Mr. Ravi,
    It’s a normal cycle of ECS/ PDC presentation and if you are closing your loan after 20 of month next month emi will get cleared from your bank account, this should be intimated to you by the bank in advance,

    Now you just simply visit the bank branch of HSBC and put your request for refund of your extra emi clearance in writing from your bank account post closer of your loan, they will refund your money,

    Thanks,

    Manish Pandey

    0 Votes

fees charges

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.

  • Ni
    Nida Lukmani May 23, 2010
    This comment was posted by
    a verified customer
    Verified customer

    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.

    0 Votes

invalid charges

I called to make a payment of $900.00 through my checking account and gave the correct account number on the system. Hsbc said it was accepted and they would charged me a $15.00 processing fee. A month later I recived a bill with the payment amount added to my balance where it was never processed plus an additional $29.00 finance charge. When I called the customer service department (which sounded like they were located in another country) they said I gave the correct checking account number, however, two extra numbers were added to my account number of which I did not give them. They now charged me extra fees for their mistake. I have paid off this account with the exception of these additional fees and feel I was unjustly charged this fee of $44.06. They have now charged me an additonal $2.00 finance charge on the $44.06 which is now up to $46.06. I feel that this is a situation that they created illegally to get additional money for their use. I feel that this is a gross injustice and they prey on consumers because we have no other resources available for us to fight against these charges.

  • St
    Stacy P Oct 17, 2009

    I received an unjust $15 late fee today. My purchases were made on 9/26/09 and they are telling me they billed me on 9/20/09 and thus the late fee. What?! How does that work? I have tried calling them at 3 different phone numbers only to get the same menu of "press this and that" with no options that take me to a human being! So then I tried contacting them via email and they refuse to understand the situation or waive the fee. And you cannot "reply" to their email, so every time I want to write back, I must log online to do so. Therefore, there is no log of email questions & responses. This is the most unbelievable "customer service" I have ever experienced. So I am supposed to pay the $15 fee for their shoddy billing system?! And if I don't pay it, I'm sure they will charge me late fees on top of late fees. What can I do? This is so unjust! How do they get away with this? Needless to say, I chopped up my credit card and refuse to ever shop at Younkers again.

    0 Votes
  • Ol
    Oloveia Mar 21, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I have been disputing finance charges/late fees with the BBB since Nov, 2010. I had been paying my David's Bridal account between the 3 and 25 of each month for the months that I paid earlier in the month IE: Nov 4 they charged me fees and finance charges claiming I did not pay for the month. They have changed my minimum due from 20.00 all the way up to 108.00 which I told them I refuse to pay anything over the 20.00 a month unless I feel like it. The bills are not due until the 28 of each month and one would think paying early was a good thing but not with HSBC. It has gotten so bad that I wrote and told them to write it off as paid in full because I will not pay another cent to this annoying debt. Why should I have to incur late fees and finance charges when I have never paid my bill late not even once. They make the error they should have to pay for their mistakes. This CO makes a habit out of bad business and should be shut down for illegal practices.

    1 Votes

overcharged

A couple of months ago I went traveling around Western Europe. Before I left I personally walked into my nearest HSBC branch and informed them of my travel plans, told them where I was going and that I would be drawing money out from lots of different ATMs as I paid for youth hostels and the like. I asked if it was necessary for me to get a separate account for use abroad but they told me my existing one would be fine.

What was initially a problem was that HSBC do not let you check your balance on ATMs overseas (at least not at any of the ones we tried to) which seems ridiculous because if you were to become overdrawn then no doubt they would put huge charges on you.

Later on I was staying in a relatively isolated Spanish village a good hours drive away from any large urban areas and my bank card refused to take out any more money. I phoned HSBC and after putting me on hold for long enough to listen to 6 different songs (including Stereophonics, Madonna and Justin Timberlake and Sting to be specific) they put me through to a man who told me my card had been cancelled for suspected fraud and erratic spending behaviour.

This was a massive inconvenience to be because I only had access to my HSBC account abroad, but in fairness perhaps I should have had a back up plan or another account to prepare for something like this happening. However, it was less the fact that they cancelled me card without telling me and more that their advisor on the phone told me to wait 5 minutes and he would call me back with advice and then never did. I was shocked by this, because I had told him clearly on the phone that I was stuck somewhere with no money. In actual fact I had a friend with me who could let me borrow some but if that had not been the case then the situation could potentially have been very serious (I am a 22 year old female).

Furthermore when I finally came home and went into a local branch to enquire about my card, the advisor there told me it appeared to be working fine on their computer system and they had no record of it being cancelled. They then refused to let me withdraw any money while waiting for a new card unless I brought in my cheque book.

I would also like to point out that the friend that came with me had an HSBC account but didnt use it abroad because HSBC are particularly expensive to draw money out. He also told them in person that he would not be using his account for a couple months while abroad but then they phoned him up while we were away and told him they were going to close his account in 3 days unless he paid in a minimum of £150. This seemed entirely unreasonable since the lady in the local branch had told him that it would be fine to not use his account for that period of time.

  • Ma
    Marcus Feb 18, 2009

    I signed up for a credit card from HSBC at the World Series in Tampa to get a free towel. This was October 23, 2008. I just got a credit card bill in the mail for $29.95, almost 4 months after the fact. The $29.95 was for a subscription to Sports Illustrated which I had no idea I was signing up for. Even if it was in the fine print that I didn't read, I would not expect a bank or Sports Illustrated to have to resort to this type of deceptive practice. Weak. Unfortunately this type of stunt is getting common even among reputable companies. This is not going to help our economy. I'm done complaining and now I am going to get back to my honest days work for an honest days pay.

    0 Votes
  • Ro
    Ron Mar 10, 2009

    While at Best Buy in Eastgate, OH, my fiance applied for a credit card through HSBC via Best Buy in order to get a payment plan for a laptop. The girl entered his information wrong, putting a fictitious name in place of his real name. Therefore, we were unable to use the card via driver's license like they advertise, given it was an incorrect name.

    We waited there over an hour while they tried to get things straightened out, only to be told we would have to find another way to purchase the laptop, and go home and call three phone numbers. Each phone number was a dead-end: hours with no answer, being bounced back and forth between, etcetera. Finally an agent said the accounts had been closed and sent us termination notices.

    Now, months later, I am receiving more privacy disclosures and notices on the account with the fictitious name. I sat on hold for 35 minutes on the HSBC consumer services number, and finally got an agent.. who gave me ANOTHER number after realizing it was a Best Buy issue, and he confirmed my suspicions that if we are getting notices, the account isn't closed. I'm not sure, but this HSBC place sounds like a huge scam.

    0 Votes
  • El
    Elizabeth Jun 15, 2009

    I cancelled this card over a year ago, I do not owe this company, they have contacted equifax, experian, TransUnion with my having a balance over 120 days over due. I have not charged anything, I do not have a card. They have ruined my credit. This company is using fraudulent charges. This card was cancelled over a year ago, I have talked to and e-mailed this company that I was cancelling the card to no avail.

    0 Votes

yahoo lottery win

I received several emails from hsbc bank bangkok saying I had won one of the yahoo lotteries for the Asis Pacific regeon I tried to phone the number on the email but kept getting answering service.made me suspicious.Then got email asking for $650USD to enable my win to be sent to me.It was one million american dollars.I am not sendig the money as I have never heard of a lottery that you have to pay to get your win.Ibelieve this to be a scam.am I right in believing this to be a scam F. D. Willows

  • Cr
    crazyknarf175 Jun 27, 2009
    This comment was posted by
    a verified customer
    Verified customer

    This is nothing but a scam. In the US you can win a lottery unless you went to that country. Do not believe in e-mails that states you won something. It is nothing but a big scam.

    A friend of mine fell for a dating scam and she had to move out of her apartment, pay the bank back over $3, 500 when the scam artist took all her money from your checking account.

    1) Only play the lottery in the state you are in.
    2) Do not believe any e-mails state that you win anything.
    3)Do not type any personal information (SSN, address, PHONE NUMBER etc...) The scamers love it.
    4)Do not post or give our your credit card or debit card information via e-mail or anywebsite that does not have HTTPS: in the start and confirm that there is a lock image that is locked.

    0 Votes

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are they going to send the card

a manager ben bamarki is supost send me my part payment worth 1, 500, 000, 00
here's my code of conduct (hsbc-121/2009..and he's supost do this for free
transfer number:xxx14146xxc. my password: 007199. relece code: 003352xx. can you find out when they will be sending it two me...sir or mam thank you

advise

Dear sir
I recieved a notify that informs me that I had money transfer in HSBC bank & asked me to send them 1700$ because of British board of internal Revenue
I need your advice plz
Name : ashraf al sayed nawar
the e-mail I recieved from HSBC bank PLC South East london on
5-6-2009 signed by authorizer Donald Hitchcock

  • Cu
    cupid Jun 09, 2009

    This is nothing but a scam. No one ever gives you a lot of money when they don't even know you. DO NOT give them any money. These people are all liars and they don't have any money to give you, they just want your money. Don't give them your bank account number either because they will steal all the money that you have in your bank account and you will never get anything from them.

    0 Votes

no title

I bought an ATV in 2002. I paid if off in March of 2008. I have yet to recieve a title for it. I have called several times and have gotten no where. I guess I will have to take legal action. I have slammed their name every chance i get, and won't do business with anybody that does business with them.

  • Bi
    Bill in Cali May 02, 2012

    HSBC Retail Services is the worst. Their customer service is a joke. A very shady business I paid off my motorcycle loan . They sent the title without signing off as the legal owner. I didn't catch it until I sold the bike. Now they tell me You can;t call the Title department and must sent them a fax request. and it will take a month to receive a lien release. They hide behind their shady business. I wonder how many people lost their insurance pay off when their paid for bike was stolen or wrecked and HSBC Retail Financial was still the legal owner? When I call their so called customer service I feel I'm dealing with the Mob.


    Bill
    California

    0 Votes

credit limit reduction

Today we were notified by HSBC that "due to the current economic environment" our credit limit was reduced to $1, 500 on our MasterCard. Today, in response, we paid off the $500 low interest rate balance and filed the card away. HSBC issues the private label Union Plus MasterCard which my husband and I have jointly owned since August 1988. Over the years, due to our impeccable credit history and never by our solicitation, the limit has been increased to $12, 000. We still have impeccable credit, paying our balances in 30 days, paying far more than the minimum payment on this low interest rate balance, are never late on payments and have minimal utilization of credit limits. This is how we have handled our credit for 35 years in our "economic environment". We will not close the line of credit on this account because that would adversely affect our credit score but we do not intend or need to use the HSBC issued card. Perhaps we will get more of these ill-conceived limit reduction notifications, with their arbitrary reasons for adverse action, from other desperate credit card companies. If we do, we will "retire" their card with the Union Plus MasterCard issued by HSBC.

errors in payment application, contacts unhelpful and often rude.

I co-signed for my son some years ago for a Bowflex product. Although he has had some difficulties and late payments, he "thought" he had made arrangements for sending a lower payment (discussed by phone w/hsbc), and now finds these payments have not been acknowledged. As his co-signer they are now harassing me, a senior citizen. Not only have we not received a straight answer on exactly what the add-on charges are, but balance seems to be different each time they call. The calls have become harassing and extremely rude.

credit card holding payment

This company is ridiculous. I have been using/paying this card for years without too much thought. On the 13th I paid my balance in full using the eft feature on the website. The money was deducted from my account on the 15th. I found out today (21st) that because it was a large payment, they have put a 'hold' on my payment and my card is useless until the 26th at the earliest. There is no reason to hold my payment as it is clearly their money now and no longer accessible to me in any way. I will not be using them ever again and I will tell everyone I can to do the same.

  • Ta
    Taken for a fool! Aug 23, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I am having the same problem and its not only with large payments. I have made a payment online for 100.00 on the the 13th and it was withdrawn from my bank account on the 16th. I logged back into "HSBS" (notice the BS) and it shows "pending". Today date is the 23rd!! I called and the customer rep said it takes 14 days to clear. There is no reseason to hold the money!! Shopping for a new card!!!

    0 Votes

Resolved credit card fraud

I have had a General Motors Mastercard for about 20 years. My interest rates have been average, and I have never defaulted on the card. Indeed I usually pay MORE than the minimum balance, paying in full when I can.

Two months ago the company unilaterally cut my credit line in half. I didn't complain. However, this month the company increased the interest rate on the card to 30.99 percent! This is outrageous! Further, it falls on the heels of the government bailing out General Motors AND GMAC financing!

I am filing complaints with all regulatory agencies I can find.

  • Mi
    Michael. Jun 29, 2009

    Well, they halved my credit limit as well, but if you don't like it there's not much you can do about it. It's not GM that did it, it's HSBC. Blame the credit crisis, not the car manufacturer bail-out. 30% is insane, and I would certainly cancel my card if they did that to me.

    0 Votes

Resolved bank withholding my money

HSBC direct has been withholding my money for 2 weeks, for no reason. When my on-line CD matured I called the bank twice with requests to close my CD account and transfer the fund to my another account where I can access the money. I waited for about a week only to discover they did nothing. Since then I have been sending bank mails daily. Still cannot get the money. On top of this, now they want to charge me with an early withdrawal fee. Basically, they are pretending that I never called them.

  • Jo
    Jodi Sep 12, 2006
    This comment was posted by
    a verified customer
    Verified customer

    This company calls my house daily, starting at 9:00 in the morning, ending at 9:00 that night. When they call, the Caller ID does list the phone number, but not the company name. The automated system calls about every 4 hours. I am on every No-Call list, and I have repeatedly asked them not to contact us further. I even told them my husband (who they want to talk with, but by which they refer to him with an incorrect name) has died. I am now using an air horn to annoy them each time they call. I don't want to block all anonymous calls, as some are from friends and family. How do I make this stop? No one should be allowed to get away with this, and especially if the consumer has made every effort to stop them from calling. I want to register a formal complaint against this company, and I intend to do this anywhere I am able. Someone needs to intervene in this situation and put an end to this company's annoying tactics!

    0 Votes
  • Vi
    Victoria Edwards Apr 02, 2007
    This comment was posted by
    a verified customer
    Verified customer

    I was subjected to numerous telephone calls from HSBC. The calls were so frequent, that I felt I was being harassed. A message was never left and when i rang the number I was informed that HSBC had called and there was nothing to worry about.

    I refused to take the calls.

    I then complained to HSBC and did not receive a response within 14 days. I wrote again and received a letter saying that I was wrong about the call and that it was direct marketing. I wrote back and said that this was incorrect. In response I received an apology and £50 credited to my bank account.

    0 Votes
  • 12
    123 Nov 16, 2008

    HSBC is awful for calling. Especially if you are a little late on a payment. They really harrass you. I would call them to let them know when we would be sending money for the car and explain the whole situation, regardless of that they would call again in the next few hours. It is an automated calling that starts as a recording and then sends you to a live person. It is ridicoulous.

    0 Votes

Resolved credit predators

This company sucks. I had three HSBC credit cards for years and had a zero balance on all of them. I applied for credit with a company that had nothing to do with HSBC or any of their affiliates. Almost simultaneously, I started to receive letters from HSBC stating that they were closing my accounts due to recent credit denial. What's up with that? Did I mention that I did not owe them any money and have never missed a payment or was I ever late. It's almost like they lay in wait and pounce on you like fresh meat!

I don't know which is worse credit card companies jacking up your interest rate if you are late or them just closing your account when you are not. BUYER BEWARE!!!

  • Bi
    Big Al2 Aug 23, 2009

    HSB has yet another way to charge fees. I was looking at my stmt. and discovered a late fee charge $37, I have never been late and in fact make payments twice a month.
    Called cust. servs. and obviously got someone from Bombay who told me his name was Sean, whatever. I explained I was not late and in fact had paid early. Well he explained, that was the problem. My bill was due on the 8th, I had paid electronically on the 1st. So my payment went to the prior month due to the billing cycle!
    Hows that for a creative late fee? Needless to say I corrected my program to pay exactly on the due date.
    As consumers we are in a tight spot if we close the credit card, It wreaks havoc on the FICA. So we have to put up with this sort of nonsense and loose our ability to push back by, firing them and resfusing to do business with these thieves.
    Al

    0 Votes

fraud

This credit card company operates fraudulently. that rob their customers every month with their marketing ploys and cleaver billing practices. I have both cards, and is robbed every month; the balance never goes down, no matter how much I pay monthly.
No matter how much I pay per month, no matter how often I make payments, the balance always remains at a level that causes it to go over the credit lime and charged at 28% interest. this card/relationship is not mutual beneficial. if something is not done by your company to make this a better situation for me. I will not pay another dime. not a red cent. I do not like to be robbed. the only side benefiting from this relationship is your card company. I have been unemployed since october, and have paid every month, but your company finds a way each month to cause my balance to stay at or above the credit limit. fix this now.

  • Kl
    Klaus Apr 30, 2009

    I have two HSBC accounts.The payment return address for both accnts is the same po box in City of Industry, Ca.
    I was cutting it close on one account(6 days until due),
    so I sent it priority mail.As long as I was paying additional postage I elected to put both payments, two separate money orders sealed in two separate envelopes provided by HSBC and accompanied with their respective payment stubs, in one priority mail envelope (provided by the post office).
    When I received my statements the next month, low and behold, late payment fee's.35.00$ each...
    Mysteriously, even though sent in the same priority envelope, neither payment posted until the day after they were due, a week apart?Even though they were sent at the exact same time, in the same priority envelope, one payment posted the 7th of april and one posted the 16th of april.Oddly enough both payments posted exactly one day late on their respective accounts.
    I spent a very long time on the phone getting the run around from many different people, and not one of them could explain this postal phenomenon.I was also told that their payment system is automated and even if my payment had in fact arrived in time, it could take as long as an additional seven days for that payment sitting around in their mail room to post, resulting in a late post and a fee.
    I was told that in order for my payments to post on time I should be mailing them 15 business days in advance(not the 7 to 10 days it says on my bill).
    My statements dont even show up 15 business days in advance.They refused to admit fault and would not remove the fee's.
    I was under the impression loan sharking was illegal?35.00$ for one day?Is'nt there anybody out there regulating these companies?Where's our consumer protection?

    0 Votes
  • Ch
    chris May 06, 2009

    I have the same problems. they make it so difficult to make a payment without a late charge no matter what you do. When your online payment doesn't go through, it is your fault. You must not have made the payment. They never take any late charges off no matter what you say. I have had it too and refuse to pay another penny. They have lowered my credit score and call me at work to threaten me. It is the first time I have been yelled at and hung up on by representatives of a company. I don't care what they do. I won't give them the amount they say I owe. No. ONe has to draw a line somewhere against these fraudulent practices.

    0 Votes
  • Sc
    Scott Jun 05, 2009

    Me too! Due to their "membership" fee putting me over the limit, added a late fee and jacked my interest up to 29.4%! I too have verbally told them that I will not take anymore phonecalls from them nor will I make any further payments until they take me to court and let a judge decide if nearly 30% is concionable.
    My credit is unfortunately damaged and I now understand why people hit their boiling point and do unconcionable things when pushed against a wall.
    We know our government does NOT monitor or regulate loansharking practices, as this is proof.
    I now mark their bills with "NOT AT THIS ADDRESS" and send them back.
    They can take a long leap off of a short pier!

    0 Votes

Resolved rip off

I have had my HSBC card since 2003. I was enrolled in the AccountSecure Plus without my authorization, and I have been paying fees for this whole time...
I should have noticed it sooner but... I failed!

When I called to complain they "offered" to either remove the last 4 charges or investigate the enrollment. If it was found to be an unauthorized enrollment, I would get all my money back.
I looked online and found everyone who had opted for the investigation was still waiting for the refund after over a year... I opted for the 4 months, because it was definite.

I am suspicious of any company willing to refund 4 months worth of charges immediately, but I didn't want to wait a over a year to find out if they were going to refund my charges or not.


FRAUD

  • Re
    Retwmt Nov 14, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Like all credit cards I do not like signing up for anything... Nothing extra. So when I got my new card I said NO! to the the Accountsecure Plus. You know that crap that they make you listen to and respond yes or no.
    I usually make my payment online on had not noticed that they had been charging me for months. When I called to cancel it i was told they would have to investigate why they had me signed up for this before they would refund me the money. So now I guess its my word against theirs.
    After this happened I was wondering just how many times this happens and what a huge profit of the company it is. I found hundreds of stories of the exact same issue.
    This must be stopped now.

    0 Votes
  • Fe
    FED UP LADY Sep 14, 2010

    HSBC ACCOUNT SECURE PLUS SCAM!!!
    I havnt used my credit card in over a year and I pay it on time and for some reason the balance keeps getting higher, so I checked my statement and found that account secure plus has been charging me every month! So I call them and they told me that I signed up in 2007, I told them I want to see proof because I KNOW i did not! So they said they will do a 3 month investigation on it and send me the proof, soooo 3 months roll by and I get a letter saying we have proof and thats it! No copy or anything! So I call them and one guy told me that I have to write to the research team to get the proof because they are the ones that have it, I cant call them because they dont have a phone! So I asked to speak to a supervisor, so the supervisor gets on the phone and tells me that NOW I cant have the proof because they threw it away(ARE YOU SERIOUS!!!), so I tell him that Im getting my lawyer involved and he gives me a address to the legal department...Now this is ridiculous! So I get online and alot of people are dealing with the same issue!!! SOOOO if YOU are reading this and have the same or similar problem, EMAIL ME @ [email protected] so we can all get together and make this a class action lawsuit!!!

    0 Votes

Resolved fraudulent practices

I have had a mortgage with HSBC for 8 years and have had the same homeowners policy the entire time. This mortgage was a refinance and the homeowners was carried over from the previous mortgage. I have the policy with a local agency and the agent is a personal friend of mine. At least once a year HSBC sends me a notice that I do not have current coverage on my home and they tell me they are taking out coverage and charging me for it (usually about 4 xs what I pay on my own) It takes several faxes of my declaration page from both my husband, myself, and my agent to get the problem straightened out and it usually takes months, during which time my mortgage is running with a past due balance of several thousand dollars. Now my credit rating is trashed and I can't even refinance the home because of it. STAY AWAY FROM HSBC When you complain to them the answer you get is "We are the biggest bank in the world" In other words - good luck !!!

  • Sb
    sbullard Jan 13, 2010

    Owe, we agree. That is definately their attitude. We refinanced our home with Beneficial( HSBC) in Feb. 2007. As the mortgage specialist advised we agreed to biweekly payments. It became evident after a year that we would not be able to pay that kind of money every month. We applied for a hardship reduction. The hardship reduction was approved and our payment was cut in half. We received a letter stating that the payment was reduced for 6 months(August 2009). Our understanding was that after 6 months this hardship would be reviewed. After the 6 months, Beneficial told us continue to pay the reduced amount. We did so. In January, out of the blue, a deputy left foreclosure papers on our front door. The papers included a court date less than a month away. They had also scheduled our home for a sale!
    Upon contacting Beneficial on how to fix this problem, we were informed we would need $4, 500(on the same day the papers were served). We called Beneficial for a confirmation on this amount and the amount three days later was over 7, 800.00!

    They also tacked on 1, 295.00 in attorney fees. They also want another payment before the end of the month.

    The loan amount was 138, 000.00 The balance remaining after 3 years is still 144, 000! If we were able to keep this loan and pay it off, at the end we would have over 400, 000 dollars paid to this company.

    So, did they go back before the hardship and add the other half for 6 months? 4, 200.00- 2, 800.00=7, 000.00. What real reputable company does anybody know that would let a customer get that far behind before foreclosing.

    They don’t take partial payments, so how is it they would let us continue to pay the reduced amount from Sept. to Dec.? They would not. Now all of a sudden, they are trying to take our home, and put 3 small kids out in the street.

    0 Votes
  • Mo
    MOD MESS Oct 28, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Sbullard - We are in the same predicament:

    I had never missed a mortgage payment at the time this nightmare began.

    Mar 2009-Applied for a Home Modification (was a realtor making $60K less a year than the time of app)
    July 2009 - Approved for a forebearance period of six months. ($700 less a month)
    Sept 2009 - February 2010 - Made all payments on time via certified check (Kept return reciepts)
    March 2010 - At the advise of HSBC, made another forebearance payment.
    April 1, 2010 - Was told that HSBC would no longer accept payments that our home was under foreclosure. (Was told that the collections dept and the modification depts do not communicate, that I am a perfect candidate for their modification program and that all foreclosure activity would cease as soon as we were approved.)
    May 27, 2010 - Served with foreclosure papers.
    June 15, 2010 - Hired an Attorney
    July 3, 2010 - Was denied for the modification three months after not being allowed to pay on the loan.

    I hate to think of all the people who just moved out of their house when this happened to them. I would imagine that there are many who could not afford all of the tacked on fees or an attorney and just had to up and move. This is a disgrace. HSBC's website had a link that said "Having trouble paying your mortgage? We can help! Click Here". Do not hit this button. Since their "Help" I am now in more debt to both attorneys and my loan is currently $30, 000 more than the original loan amount. I feel 100% that if the government did not say they were going to "help" everyone who makes less than 1/3rd of their mortgage, I would have NEVER hit the need help button. This has been a nightmare that, I feel, our government has brought to me. Keep the change!

    Sbullard - If you would like to talk more about this, please let me know. I would be happy to pass on my email to discuss further. Would love to know how you are handling and if you have an attorney. I am shocked that there is not a class action for this complete mishandling of mortgages.

    0 Votes
  • Di
    Diego guerra Jan 07, 2011

    havin g some problems with HSBC that have no kind of help there cousmer service is no good they only say one thing pay or your house will be on foreclosure they will not work with you at all my issue is that i hace teo accounts with them and was paying on the account but got a noticed sign that i wasent paying to what happeend was they were credting one of my account with the other so in other words they were putting both payments on one account and then is showing that the other account was not being paid ever since then they have had work orders done investagation and then they have put the house on forclosure and still cant figure it out that they made a mistake on there behave and want ot sale the house !! ihae talked to them faxed them the check copy of there mistake and they still wentme to pay and pay late fees and attorney fees for the mistake they have done we need to do something about all these gangsters running are bank system !!!

    0 Votes
  • Hs
    HSBC mortgage nightmare Mar 06, 2012

    Hello,

    Please consider joining the following group to gain political attention on HSBC practices:
    http://finance.groups.yahoo.com/group/HSBC_mortgage_nightmare/

    As a result we will be able:
    * to drive-away potential customers from this dangerous institution,
    * to convince citizens to support us through cutting their HSBC credit card
    * to gain media coverage,
    * to gain elected politicians support (especially in this electoral year),
    * to have HSBC management listen to us and change our loans.
    All together, we can.

    0 Votes
  • Fe
    Fedupgramma Apr 09, 2012

    My husband and I are both retired and our mortgage was bought out by HSBC. They denied us a mortgage modification and told us to file bankruptcy. We had to do a Chapter 13. It just makes me sick because in our "NEIGHBORHOOD" no one speaks English anymore and now the hispanics are buying the foreclosures for $30.000.00. HSBC is buying up AMERICA!!! By the way HSBC is Hongkong Shanghi Bank!!!

    0 Votes
  • Wh
    wheezie Aug 29, 2013

    Terrible experience with HSBC. They bought out my mortgage first and second mortgage from Beneficial in 2007. The balances just don't go down. They charge astronomical fees and have pulled the same crap on me about not owning homeowners insurance when I do. I cannot get anywhere with them. They offer no solution and to get a modification is impossible. I just cuss at them now when they call. The second I am one minute late on my mortgage, they place 15 calls a day to my phone even when I am not 5 days behind. I have a 10 percent on first loan and 14 percent on a second loan. They don't have to follow national rules. They are international. What a nightmare in this tough economy they are squeezing the life out of all of us hardworking individuals. We need to take a stand against companies like this who charge astronomical fees and interest. They only care about their pocketbook and their employees are poorly informed and sneaky about their practices.

    0 Votes
  • Fe
    FedUptoHighHeaven Dec 16, 2013

    I agree with the other persons here. Beneficial's tactic when one tries to get a modification is delay. They delay, delay, delay and then send you a notice that you do not get the modification because you are missing documentation that they need from you. Meanwhile, you fall deeper into debt and behind in our mortgage. Please contact me at [email protected] if you'd like to do a class action against them.

    0 Votes

Resolved fraudulent practices

Feb 27, 2009 letter received March 4 states that due to a 'recent loss mitigation review' my credit limit was reduced to $300 from $2, 400. I don't really care...I have $50 of recurring charges every month that I pay off in full and occasionally go up over that $300, also paid off in full but I spent a lot of time waiting and paying in full every month, being a good slave to the credit master, so I could boost my FICO.

Because as we all know, the system is stacked against us and in order to get a decent interest rate on a loan, you need that FICO up there and to get the FICO up there you have to dabble with using credit and to dabble with credit means minimum payment bondage in perpetuity for all but the most responsible so yeah...paying in full every month got me ZIP now that my credit limit was reduced.

My credit report is fine, nothing changed, it's simply that they are in trouble and want to reduce their liability across the board since our wonderfully reckless new homeowners who are facing bankruptcy anyway like to jack all their credit cards out to the max, and then walk away from the house AND the cards. Hey...House of Cards, I made a funny.

So I can't wait until I see my FICO take a dive because my total available credit limit gets nicked away by this card and that card for NO GOOD REASON but being fiscally responsible. Just ONE MORE WAY the rest of us who did the right thing are getting shafted, hard.

Resolved lies

On the 19th March HSBC, deducted 29000 plus dirhams out of my account. This was to reduce a loan I had with...

Resolved can't withdraw money from atm

I am frequent flyer to uk and used to withdraw cash from my account at hsbc uk. On 20th of march 2009, i went as usual to withdraw money from hsbc uk atm machine, i could not withdraw as i got a message that " you are not authorized to withdraw please call your card issuer bank " . I did call uae call centre and spent over an hour calling from my mobile but they kept transferring from on section to another and telling everything is ok at their system, try to withdraw less amount which i did but no result. I told them that i can see my balance but could not take money even though i have enoough credit in my account. I told i am running out of credit in my mobile and asked to call me back if cut it off. The phone went off but they did not get back and i was waiting infront of the atm machine for more than half an hour. I tried again today with a different hsbc branch at uk and i got same message. I went to see the manager of the branch and he told me that he could not help as the the card has been issued outside uk. Even the it is hsbc but they did not want to help me. I am stuck without fund and hsbc is careless to help their customer. I seriously thinking to close my account with hsbc and please take note of my complaint so that no other person face this ordeal.

Thank you

[protected]@hotmail.com

  • Re
    regina Mar 30, 2009

    Everyone is talking about money problems here...but this is a bit different one...how come these money transfer companies can transfer money from a man to a whore for pleasures. May be i'm wrong but i came to know that a man(living in Jeddah, KSA) sent more than 3000 riyals from ksa(Jeddah) to eight different prostitutes who work on net living in different country. In ksa rules and regulation about all these things are really strict and then how come this one man sent money to different countries ( including South Africa, Phillipines and America) for his pleasure and to fullfill his porn desires. Oh by the way he sent all this money to those whores through Western Union Money Transfer ( bank and on net) and through Al Ahlionline Bank ( on net) and he is still doing till now. Ok i agree to this that company didn't know about it and was doing its work, its duty...but this cannot be easly ignored that a man is sending money to eight different girls(prostitutes) living in different countries. This man has also spent money on internet porn chatting site named www.person.com and he paid his bills the way everyone other man pays(throught telephone bills), but there was no complains about that he has paid bills on porn chatting site. (living in Jeddah, KSA). I complained to a similar site about all this but there was no response. Please take some actions. This is not legal. This is illegal.

    [email protected]

    0 Votes
  • As
    Asyd Feb 04, 2012
    This comment was posted by
    a verified customer
    Verified customer

    HSBC is definitely the worse bank. I am closing my account in the UAE.
    Spent over half an hour trying to wire money. They put me through to their dedicated call centre in India. I could not understand their English and they could not understand mine ( Iam born and bred in the UK). What a waste of time and my phone bill. It is a third world bank and that is the service I got. Avoid them at all costs as you will get no service.

    0 Votes