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HSBC Holdings
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4:06 am EST
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My 84 year old mother, Mrs. Vieth and myself (son u. schaefer) and I visited the HSBC branch in Antibes on Oct. 15th, 2015 to add a USD account to an existing Euro account and subsequently transfer and exchange a fixed amount of Euros to the equivalent of 70K USD. The funds in the USD account were then to be used to buy an HSBC investment fund product. With...

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4:01 am EDT
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I have had ongoing issues with HSBC and I would like to know how I can write to the big wigs in HSBC UAE before I make a formal complaint to the regulators. Could someone please contact me on 0569925880 asap (UAE number). Thanks

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10:48 am EDT
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Please help me spread information on how HSBC is taking advantage of its elderly retirees in order to reduce its costs. You can help reach out to HSBC retirees, their families and others, as well as garner the attention of an expert in the field of ERISA who may wish to help these elderly retirees. Please read our story: My husband is a retiree of HSBC...

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9:52 am EDT
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I am a salaried employee, my salary is deposited into my hsbc advance account in usd, 25 days ago I applied for a platinum visa credit card, but they advised me to apply for the advance mastercard, basically both eligibility are the same, I receive 3 times more than their minimum eligibility. to make a long story short, I applied the the mastercard one, and...

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1:12 am EDT
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I had to hotlist my HSBC Credit Card and after that I mailed HSBC several times not to send a new card and cancel the card. I have mailed grievance reddressal, [email protected], [email protected] but havent received an acknowledgement from anyone. I still get credit card statements every month. If they ever send me a new card I never received it since I wa...

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7:03 am EDT
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Hsbc bank in abu dhabi should receive "the worst bank in uae award!!!" The khalidiah branch customer service unit office mohamed hamed was unbelievable. when I walked into the branch wanting to open a premier account, he told me "don't open the account with us, our service is worse than before", he was referring to the bank's service 9 years ago (9 year...

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3:18 pm EDT
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HSBC or How Serve Badly Clients. I have been in the financial industry for over 20years and service provider of all the major banks worldwide. Funny enough HSBC is one of my clients on a daily base. I have a company based in Dubai and a subsidiary in Ldn. Both entities bank with HSBC for 4 years now ( start of the company). I have until now no overdraft, no...

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6:43 am EDT
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I made Telex transfer on 20th of August 2014 from Saudi British Bank, in Riyadh Nuzha Branch to India. The money transfer was rejected in Mumbai HSBC and the amount which was returned back in my account on 3rd of September 2014. The returned money is Saudi Riyal 15, 400 less, I want my money back in my account. This is my hard earned money and Bank cannot take it this is rip off. I need help.

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3:49 am EST
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Dears My Name is Mohamed Fawzy I am a HSBC Egypt customer with current account as my company transfers my salary to this current account and I work in my company branch in Qatar for a short assignment and the salary is transferring to my HSBC Egypt current account with issuing (Visa electron card Friday 14.02.2014 I went to HSBC ATM machine in (Dwar Al...

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2:10 pm EDT
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HSBC Holdings - mortgage abuse

My fellow HSBC victims…and that term is very much appropriate. My wife, Ruth and I seem to be traveling down that same rocky road that that you have traveled. Presently our account states that we owe HSBC over six thousand. It states that our last payment was made in April and our next is due in June. I know, it’s a jumble of nonsense, but that’s what we have. We’ve made every payment and have sent them proof (our bank faxed it to them). But, they chose ignore it. Many of you have gone down this road, so I won’t go into details.

In lawyer’s terms, they have one enormous “war chest.” Plainly put, you can forget about hiring a lawyer. Getting legal advice would be OK, but none of us could afford to fight this in court. But, there is another option, but first, for those that don’t know, let me introduce you to our enemy, the largest bank in Europe, with its home office in Merry old England. (So where’s Robin hood when you need him?)
“In December of 2012, HSBC paid a record $1, 900, 000, 000 fine for laundering in excess of $881, 000, 000 in drug cartel money and violating anti-terrorism sanctions.” They received 3.5 billion in bailout money through our beloved AIG. Also, they’re closing out their comsumer loan department. But, you already know about that…and what a way for them to do it! And here is something else right off the press.
NEW YORK (CNNMoney)
“HSBC became the latest bank to settle with federal regulators over alleged foreclosure abuses on Friday, agreeing to provide $249 million in cash compensation and other assistance to borrowers.”
“Under the deal with the Federal Reserve and the Office of the Comptroller of the Currency, HSBC (HBC) will offer $96 million in direct cash payments to borrowers and $153 million worth of other relief, including loan modifications and the forgiveness of deficiency judgments.”
This action goes back to 2008-2010 I believe. So I doubt if these people are getting any real compensation, they may have been on the street for some time, but HSBC is vulnerable. Claire McCaskill is a Missouri Senator and she is also head of a national consumer protection committee. I have already sent her my complaint. Go to www.mccaskill.senate.gov There’s field on the front page labled “Submit your Scam.” I did a “copy” function of a letter I’d already composed in word, but you can type it in directly. Together there’s power and we might get something done!
If you wish to contact me, (no legal advice here, but I can tell you what I know) my email address is [email protected] I have a face book account, but our DSL is so slow it takes forever to access it, though I will try to place this there. Larry Sager

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11:41 am EDT
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HSBC Holdings - illegal withdrawal of funds

My name is antônio pedro lacerda de barros, and I am writing to you regarding a nightmarish 18-year legal battle that I have waged against bamerindus bank in brazil and its successor, hsbc bank (brazil).

Sadly, my story is not unfamiliar to anyone who has followed hsbc in the news the last few years and, in fact, bears many striking resemblances to the following story, which was reported this year by guardian money:

Http://www.theguardian.com/money/2013/jan/04/hsbc-subjects-borrower-misery-loan-repayments

Like the customer in the above story, I have been fighting hsbc in the courts for almost two decades after my bank account with bamerindus bank was sacked by branch employees in the early 1990s. hsbc purchased the assets and liabilities of bamerindus in 1997 and, in so doing, assumed all the outstanding obligations of bamerindus.

The issue of whether or not hsbc brazil is responsible for all liabilities of bamerindus is a settled issue in brazilian jurisprudence, and has been for over a decade. I have hundreds of pages of supporting legal precedent, if you would like to review it. indeed, hsbc itself says on several of its international websites and publications that it purchased the assets and liabilites of bamerindus in 1997. as such, from now on I will use the terms "bamerindus" and "hsbc" interchangeably.

My story began when an employee at the ipanema, rio de janeiro branch of hsbc confessed to me in 1995 that bank employees, including employees at two different branches, had been illegally removed funds from my bank accounts.

A court-appointed expert found that the partial total of these withdrawals was about $800, 000 united states dollars, or about $2 million united states dollars, in today's terms, and that's without including certain legal interest that hsbc will eventually be obliged to pay. the outrageous thing is that, because hsbc has for 18 years refused to provide all records of withdrawals from my account, no court expert can really quantify how much money hsbc confiscated from my account!

These employees' "modus operandi" was as follows: a. withdrawals were made from my accounts using cheques that I didn't sign; b. funds were electronically withdrawn from my account, invested for the benefit of third parties, and then the principal was returned to my account on the same day or on the next day.

I filed a police complaint in 1995, and the police superintendent in charge found that hsbc had been involved in wrongdoing. an employee of the hsbc branch where I did my banking made a full statement outlining in detail the illicit activities committed by hsbc employees.

Also in 1995, hsbc filed a suit wanting to pay me a token sum for the losses and damages I sustained. at the same time, I filed suit against hsbc asking that hsbc provide copies of all cheques withdrawn from my account as well as proof of all other withdrawals.

After a long legal odyssey, during which hsbc used high-priced legal talent to delay any judgment, a rio de janeiro court finally found that hsbc had literally made over 2, 000 undue withdrawals form my count. as mentioned, in today's dollars, and without counting 18% a year interest from 1995 to the present, a court-approved expert estimated that the total amount illegally withdrawn from my account is over us$2 million.

Indeed, the expert couldn't calculate the total amount because hsbc has, for 18 years, refused to provide copies of all relevant records involving my account. this is strikingly similar to the british hsbc customer in the link I provided above, whose documents and records hsbc also conveniently "misplaced."

After that decision, hsbc has spent the last six years trying to delay making restitution to me. first, they seized on an esoteric issue involving interest rates to question exactly how much interest they would have to pay me.

Second, when I asked the judge to at least force hsbc to pay about us$20, 000 in legal fees to me, as I have been representing myself pro se against hsbc's army of lawyers since 1995, hsbc began a relentless prosecution of me that continues to this day.

The judge agreed to require hsbc to pay me the legal fees above, after which hsbc appealed, won the appeal, and asked the appeals judge to freeze my bank accounts and my wife's bank accounts to get the $20, 000 back! bear in mind that this is the same bank that has already been condemned to make restitution to me for 2, 000 undue withdrawals from my account totaling at least us$2 million which, with interest, would come out to at least us$6.4 million today!

The brazilian superior court of justice has just agreed to hear my appeal on this matter, ruling that hsbc has put me at great risk by means of its delaying tactics.

What type of financial institution would rather drag things out in the courts than make restitution to a customer whose account was sacked by the bank's own employees? what kind of financial institution would refuse for 18 years to provide records of all undue withdrawals from my accounts, because the more withdrawals are known, the more it will owe me?

The answer is: the same financial institution, hsbc, that was fined for opening accounts and laundering money for drug kingpins in mexico, opening accounts and running money for terrorist groups throughout the world, colluding in the manipulation of the libor interbank rate, and many other wrongdoings that have severely tarnished its reputations in the last few years.

I can only hope that my story, which I am willing to document in as much detail as necessary, will serve as a cautionary tale to current and prospective hsbc customers, and will also serve to convince the relevant regulatory authorities to take tougher measures against hsbc to ensure that this institution never again returns to its checkered past.

Best regards,

Antonio pedro lacerda de barros

Rio de janeiro, brazil

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2:04 pm EDT
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I am dying. I have tried to cope the best way I can financially. these people have done the lowest form of a deplorable act by contacting me while in hospice as well as contacting my elderly parents threatening me with a restraining order as well as the seizure of what assets I have. is this what humanity has been reduced to? bill collectors who have...

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1:30 pm EDT
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Yes I have a complaint about HSBC Mortgage Company in Brandon, FL. They are the worst mortgage company there is because they have insurance on my home and they won't fix the roof. Three years ago we had a storm to come through and it had some straight line winds and it torn off several of our shingles and the post that we had on our front porch it knocked...

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6:58 pm EDT
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My account was sent to collections, thereafter collection charged me over 800.00 in fees . I have been making payments to your company over 700.00 and you guys kept my money instead of forwarded to the collections agency or credit my money back.

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12:15 am EDT
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HSBC Holdings - hsbc bank resort to toxic churning and illegitimate transactions to earn commissions

http://moneylife.in/article/did-hsbc-bank-resort-to-toxic-churning-and-illegitimate-transactions-to-earn-commissions/32405.html

Two complaints of high net worth individuals have shown that the bank has possibly flouted rules and taken signatures on blank forms to execute transactions to churn the mutual fund portfolio and earn huge commissions

Over a year back we wrote about how HSBC Bank took Ms Suchitra Krishnamoorthi, a well-known singer and actor, for a ride over a five-year period by promising an extravagant assured return of 24% from mutual funds as well as insurance. (Read: HSBC loots Suchitra Krishnamoorthi after big promises of 24% returns) However, far from delivering such returns HSBC Bank continuously churned her portfolio. In a similar case, another high net worth individual (HNI) based in London, found out abnormal churning of mutual funds in his portfolio that was managed by HSBC bank. Both are HNIs who were made to sign a power of attorney (POA) in favour of HSBC to handle their investments smartly. They believed in the brand name of HSBC. Most importantly they trusted their banker, like they would trust their doctor.

Moneylife has reviewed the Ms Krishnamoorthi’s transactions and found massive malpractices by HSBC

• Her mutual fund portfolio was continuously churned resulting in high transaction costs in the form of entry load and exit loads. While several transactions led to huge losses for her, HSBC was the gainer of commissions.

• Out of the 75 transactions made, nearly 60% of the transactions were in equity schemes kept for a period less than one year. Here investments were made in schemes like HSBC India Opportunity Fund and HSBC Mid-cap Equity Fund, both of which have been underperformers. Apart from these, majority of the investments were made in balanced schemes of HDFC Mutual Fund, ICICI Mutual Fund and Sundaram Mutual Fund.

• The worst part of the transactions came around the market peak in November 2007 where nearly Rs3 crore was invested across five schemes on a single day which included over Rs1.67 crore invested in three sector schemes—ICICI Prudential Infrastructure Fund, Sundaram CAPEX Opportunities and Reliance Diversified Power Sector. Nearly Rs50 lakh was invested in Sundaram CAPEX Opportunities which has a current corpus Rs200 crore.

• The investments from all sector schemes were withdrawn between June and August 2010 at a loss of nearly Rs40 lakh, almost half her initial investment. The schemes from ICICI Mutual Fund and Sundaram Mutual Fund went down by nearly 50%. The other schemes were also withdrawn at a value 15%-30% lower resulting in a total loss of Rs86 lakh. These schemes included JP Morgan India Equity Fund (a poorly-performing scheme) and IDFC Premier Equity Fund.

• Surprisingly, in the whole portfolio there was not a single debt scheme and just one liquid scheme— HSBC Cash Fund. Ironically, commissions paid on debt schemes and liquid schemes are much lower.

• Ms Krishnamoorthi says an entry load amounting to over Rs29 lakh was deducted from her investments. If the bank had opted to only invest her amount of Rs3.60 crore in performing equity schemes for the long term, without any further buying or selling, the entry load of 2% at that time would have worked out to just Rs7.20 lakh.

According to data from mutual fund industry association AMFI, for FY11 and FY12 HSBC earned the highest mutual fund commissions amongst all distributors. In FY11 it earned a commission of Rs118.97 crore and in FY12 it earned a commission of Rs153.98 crore even when the industry was down in the dumps. Another bank just below HSBC in terms of commissions earned is, not surprisingly, HDFC Bank.

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2 comments
S
Feb 02, 2008 12:00 am EST

I am regret to inform you that I never had such a very poor Banking service in my life. No proper information, guidance or follow-up exist in this bank. I am totally unhappy with the service and I will suggest to many of my friends to never have a correspondence with HSBC bank.

Its simply a stupidity to have connection with this bank.

M
Jun 04, 2013 2:21 am EDT
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Reviews and complaints about working at HSBC http://masterjobs.net/hsbc

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6:32 pm EST
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HSBC Holdings - the worst customer service

Simply, my debit card was stolen two months ago. After applying for a new one with service level 7 working days to receive the new card. I received the card from just two days and till now no PIN code. After I reported the issue to their customer care they simply replied "we have to issue a new one and it will take another 15 working days.

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2:46 am EST
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HSBC Holdings - beware of hsbc bank

I had applied for edc machine from hsbc bank, my application was declined but surprisingly the bank did debited my amount 20, 000/-, since then i have been following up for my payment but even after 3 months I havnt received it. The Manager i am dealing with is from Noida branch .I was told that the cheque of 20000/- was deposited to my account, but till date it was not even credited to my account. Everytime they are coming up with funny excuses.. Beware of this bank

Pradeep Gautam
Priyalartz

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12:33 pm EST
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Im Yong Boon Wei which currently holding HSBC Credit Card since 2009. As at today i received a letter informing me that my credit limit has been reduce and it is unacceptable for HSBC to simply reduce customer credit limit without informing the reasons. I have been with HSBC for few years and the card payment has been prompt. The thing i fed up the most i...

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1:11 am EST
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HSBC Holdings - dissatisfied customer

I asked for some credit limit enhancement and they just rejected it.
To give more background, I am a platinum card holder of HSBC and a customer over 5 years now. Even I never had any overdue / late payment or bad history.
The credit limit increment I asked was a reasonable one since I know some customers has more than that limit even less than my qualifications.
The concern I have is that
Nontransparent HSBC credit evaluation process
Ignorant with customer requests
Not providing enough details for decisions make
No way to direct contact for HSBC authorities for complaints.(there is an online portal, but it always answered by general employees. No way to contact higher management. No details available of them and they don’t have a point person for credit card related complaints.
Not valuing long term customers leading to Customer dissatisfaction with regard to HSBC credit division

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1 comment
R
Dec 10, 2012 4:03 am EST
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I found several numbers to contact HSBC directly and in a matter of minutes. Maybe you should take the time to Google the information rather than complaining. :)

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7:41 pm EST
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Jakarta, 30 Nopember 2012 Ref : 1183/YA-FY/PDT/HSBC/XI/12 Kepada Yth. Branch Manager HSBC Senayan Branch The Hongkong and Shanghai Banking Corporation Limited Sentral Senayan Building 1, G floor Jl.Asis Afirka No. 8 Jakarta 10270 Indonesia Dengan hormat, Perihal : Pengaduan penggunaan Debt Colector oleh Collection center HSBC atas kasus pembatalan...

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HSBC Holdings contacts

Phone numbers

+44 122 626 1010 +44 122 626 0260 More phone numbers

Website

www.hsbc.co.uk
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