Consumer Complaints and Reviews
I have had a small business acct with HSBC for almost 15 years. For the most part their customer service is horrendous, their online banking is a nightmare and the actual experience in the bank is one teller is working and 2-3 others are pretending to be doing other things. After all the years with HSBC their small business policy changed to a minimum of 5 million deposited per year. So this week they closed my account without my knowledge or approval. One day there was 20K in the account and the next day it was 5K overdrawn because they pulled all the money out and closed it. However even though they closed the account they still allowed checks to bounce and autopays to be denied and then charged me fees.
Now they are holding the money and will not return it to me until they are satisfied that the fees are paid for the bounced checks caused by their actions. My small business is in critical condition because they are holding the money and several online deposits that were accepted after they closed the account. I have had apologies from the desk officers at the bank but I am told that this is a new policy and the back office cannot help me at all. I really believe I have a possible lawsuit and would like to hear from other customers with similar experiences.
I have accumulated a long list of HSBC Customer Service boo-boos that needs sharing. Here's a few that I have off the top of my head: Hotline difficult to contact. Do not expect a call back. When you get through they will toss you from one personnel to another - consequently asking the same questions over and over. Next thing you know the call has consumed most of your phone credits. Good luck if you're calling from abroad. They claim to have recording of your calls or your data file but then when you talk to them they do not know the history of what the issue was about. They will address you by other names that you are not born with. They will ignore emails that you place through their 'Complaints' or Feedback button. You are expected to 'work' for them, giving you Instructions instead of the other way round.
HSBC Account - HSBC Credit Card are not coordinated. They will charge you for their own errors- I sent them instructions to pay my credit card before the due date so that it won't be 'cut'. It didn't happen at one time and they charged me for late payment. They will treat you like a ball- toss you around - HSBC account would say you need to talk to the HSBC Credit Card Department vice versa.
They claim that they upgraded their Online banking - But then they remove the function you find useful or make it more difficult for you to use. They give you a Secure Email for any Online transaction where you can directly contact your Officer but when you use it - they will reply that they cannot help you through that channel after all even if they were able to at first. I think that's about what I can remember for now. I'm sure there's more that I'm missing. So yeaaa... I'm done. Packing up my hard earned money that they think they have a right to keep. Sorry for any typos if ever. But I'm sure you get what I meant.
After having updated my travel plan before I flew to Turkey, my card was put on hold at the MARRIOTT. It took 3 calls and over 30 minutes of international roaming (costing me more than the room and food at the hotel) to clear it. I had to go through 2 customer service representatives, each with their own hold times, to get this done. The last one confirmed that they did have my travel plan in the system and could not explain why the Marriott Hotel was suspicious activity. This is not my first bad experience with HSBC and I will be cancelling my account upon my return to the U.S.
You know since our last complaint now I don't have a relationship manager. Santosh called to say he was now my new manager but never followed up by emailing me his contact info as I had requested. I must say, I have banked worldwide, Barclays bank, Lloyds, Toronto Dominion, PNC bank, BofAmerica, ICICI, HDFC BUT NEVER HAD THE FRUSTRATIONS HSBC has dealt me. We should jointly give them a piece of our mind and the stupid code generating device??? I have a good mind of making a youtube video on how non-user friendly, to put it kindly, the whole online banking system is. Not to mention the incompetency of HSBC relationship managers. You have left us no choice but to take our business elsewhere. The only Savior I have is your call center staff.
My company has an employee RRSP matching program through HSBC. I have been contributing for over 2 years and recently purchased my first house. When I submitted my form to participate in the RRSP first time home buyers program I was told that there was a typo on my account and that I had to go into a branch to update the spelling of my last name. When I asked to book an appointment over the phone I was put on hold and then told that they were having issues with their scheduling system and that someone would call me back on Monday during regular office hours. After Monday came and went with no follow-up call I decided to go into the branch on my own and provide identification.
When I got the bank, I gave them 3 pieces of government ID and asked how long the process would take as I need this money to pay my down payment. I was told that the branch could not complete a name change and that they would have to send my form over to Vancouver for a manager to complete. They couldn't provide me with a timeline on how long the process would take but the gentlemen did offer to look at my account daily and call me once the spelling error was corrected.
Later that afternoon I got a phone call from the branch and they said they needed me to come back into the branch so that they could take a photocopy of my identification to send to Vancouver. I asked if I could scan, fax or send them a copy electronically but that was not going to suffice and I would again have to return to let them copy my ID. I'd like to say that this is a one off situation but my colleagues constantly share similar horror stories about difficulties interacting with HSBC.
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I have been a customer of HSBC Singapore for over 10 years. I hold 2 accounts USD and EURO. I did maintain a balance representing my life saving. Last month after some disagreements and having my USD account frozen by Safeguard HSBC, I was forced and I decided to close both accounts. I initiated 2 telegraphic transfers to another bank on September 12th, 2016. On September 22, 2016, I received a SMS from HSBC informing me that the funds have been sent.
On October 4th 2016 after numerous calls to Singapore, I was informed that my USD transfer was done on September 23, 2016 and my EURO transfer will be done on the 4th of October at night. On the 6th of October, I was informed by my beneficiary bank that the Euro transfer was received and credited to my account. At the time my USD transfer was still not received.
Since then, I called HSBC Singapore over 40 times trying to get some updates and I always was unsuccessful. Numerous people promised me a call back that never happened. I was systematically refused to talk to a supervisor or to the department that initiated these transfers. It has been over a month and I still don't have any ideas where my funds are. I talked to the voice team and spent over $200.00 of phone calls from my home base and still didn't get any updates, they keep saying somebody tried to call me but I never had a phone call from anybody. Nobody ever called me back with news but more importantly with positive updates. My frustration is so high that I asked for my other bank (beneficiary bank) to help me with this issue which he did. He is talking to them as from yesterday (19th/10/16) and he was promised some updates soon but he was refused as well to talk to a supervisor.
I am also working with another person now. She is the first person to call me since this nightmare started. She called me yesterday October 18, 2016 for the first time and she was very surprised that again nobody called me yesterday. I did told her that she was the first and only call I had from HSBC since September 12th WHEN THE TRANSFERS WERE INITIATED. Since I have a lot of followers and I followed a lot of people on Twitter I twitted to HSBC.com.sg my all story and one of the multiple responses I got, came from HSBC and they asked me to email my story at email@example.com. Still no responses. In my 40 years international banking relationships, this is from far the worst experience I ever had. This money is my life saving and my retirement money since I am half retired.
Updated on 11/01/2016: It is with great relief that my bank called me early this morning (10/21/2016) to inform me that the transfer arrived and it was credited to my account. It took 40 days for HSBC to do the transfer and for the funds to arrive in my account. However it is with great outrage that I reviewed the telegraphic details and saw that HSBC had the audacity to charge me USD$ 138.06 for the second transfer, after already charging me USD$ 41.44 for the failed transfer. I spent over USD$ 174,50 on phone calls calling HSBC voice team and being put on hold sometime for over 40 minutes straight. I never got a phone call or a formal corporate letter of apology regarding this unacceptable failed transaction since September 12th 2016.
I am requesting a detailed writing explanation on the reasons for the failed transfer and the 30 days delay for it; I am also requesting a full refund for the fees I have been charged on the first and second transfer. The reimbursement of all the cost for the phone calls I made to HSBC voice team over 40 days will be a proper business gesture on the part of your institution; I have all the receipts available. To this day November 1st, 2016 I have nothing and only got one phone call promising me further actions. HSBC has no respect for their clients/consumers and their life saving. I was never treated that bad in my entire 40 years life banking experience and I will make sure that my experience is shared with other on all media sites and consumers groups.
On June 21st of 2016 my attorney's office made a request for a mortgage discharge on my home that had just been sold. Mind you that the discharge was for a mortgage that was satisfied in October of 1992 from the people we had purchased the home from. My biggest problem is the lack of customer service from HSBC. No one responds to email requests or phone calls. I have spoke to supervisors that claim they are going to escalate the process but nothing has happened yet. What else can I do???
My husband and I paid off our mortgage with HSBC in July 2015. We received a letter from HSBC in August 2015, acknowledging that the mortgage was paid-in-full, but it did not state that the lien had been removed from our property. We also wanted documentation of that because we intended to list our home for sale.
Then began the runaround. In November 2015, we became aware that the lien had not been removed. We contacted HSBC and were told that it would be done. By December 2015, it had not been resolved so we again contacted HSBC with the same response. In total, we spoke with four HSBC staff, all of whom kept blaming it on another office (of HSBC or another company to which they had sold the loan servicing - don't know because each time we asked the response was vague), but none of whom could resolve the problem. One, a supervisor named Rose **, assured us that she would resolve it because "that was her job." She not only did not resolve it, she did not even call us back as she promised to do.
In December 2015, my husband contacted our Office of the County Recorder of Deeds to enlist assistance. To our surprise, we found out that HSBC had submitted improper documentation to that office and was informed by that office as early as July 31, 2015 that corrected documentation was needed. As of December 16, 2015, the County Recorder of Deeds has received no further response from HSBC.
In January 2016, I wrote a formal complaint to the Better Business Bureau and my husband filed an official complaint with our State Bank Commissioner, both in an attempt to get HSBC to do what should have been done routinely by HSBC. Perhaps because of the combined pressure, HSBC did respond to the BBB stating that they would research the matter in order to resolve it. Research? According to HSBC's own policy, the lien should have been removed from our property within 90 business days of loan satisfaction. That is approximately 4 months, which is far too long. However, we still were trying to get it done, and it was 6 months later. And it was due to no delay by our county government. It all was HSBC's inefficiency and lack of concern for its customers.
Finally, in late January 2016, HSBC told us through a BBB response that the proper documentation had been sent to the County so that the lien could be released. HSBC did not send it by expedited mail nor did they send us a copy of the documentation, both of which we had requested. We also were informed that HSBC considered the matter resolved and would not be sending us any further documentation to prove the lien had been removed.
In February 2016, we were informed by the Office of the County Recorder of Deeds that the information had been received and finally the lien had been removed. Then in late July 2016 -- A YEAR after our mortgage was satisfied -- we received documentation from HSBC stating that the lien had been removed, documentation which, according to HSBC Customer Service, would not be sent to us because that type of customer communication did not exist.
My husband and I were good customers of HSBC, even paying off our mortgage early. HSBC was most efficient when it came to cashing our payments, but after we satisfied our obligation, HSBC was completely inept in releasing the lien on our property. We repeatedly were promised action without results; there was no sense of urgency on the part of the HSBC staff to correct their OWN mistakes in the handling of our mortgage, and they displayed a total lack of concern for the inconvenience they created for us. Bottom line: Never again will we borrow from HSBC. My purpose in writing this review is to warn others: Buyer beware when it comes to HSBC.
I have had nothing but problems with these people. First I am put on hold for over 2 hours (no exaggeration). I either get someone who does not speak very good English and or I get someone who is rude. By the way... Nothing is ever their fault! I called in reciting my checking account number to a woman who had limited English! I did it because I wanted to make my payment on time! Nobody contacted me to let me know the checking account number was input wrong! I happened to call them to find out what it has not been processed! This caused me to be late with a payment! I complained to the credit bureaus. I mailed a check and waited weeks to no avail! I waited on line with the usual runaround and to wait 2.5 hours on hold! Got a nasty customer service rep claiming it was everyone's fault but HSBC.
I will continue to file complaints against them. I was so upset. I told him to get a third party collections agency and I will pay them because it will be easier and not impossible! He told me that will happen!!! I cannot wait!!! I have always had problems with them. I tried getting an online account but that took weeks and kept being told to call when it was convenient for them (tomorrow morning between 9am and 11am). I am at work!!! I could write a book about these people and the constant problems I have had! I am ready to have nervous breakdown because of them! There needs to be a class action lawsuit against these people and I will gladly join!
I have an HSBC Business Credit card. I set up a 100.00 monthly payment to be taken from my personal checking account for the 20th of the month. They debited my account 500.00 instead. I freaked out and called customer service and it has been a nightmare ever since. First of all they claim that the 500.00 was never posted to the HSBC account and to call my bank. My bank, Chase, said that the error is with HSBC however they were kind enough to credit my account while it's being investigated. Then on top of going back and forth with them about that, they reversed a 500.00 payment from our business and again it has disappeared. No record. So now 1000.00 is unaccounted for and it will take months and months to sort out their incompetence. Never in my life have I dealt with such a terrible bank. They should be put of out business!!!
They are the worst bank ever. I have payments that get sent to me monthly through HSBC bank to my bank account in another bank. They delay my payments randomly from a week to two weeks or more from the transaction date. They respond extremely slowly to any email or complaint, and sometimes they just ignore. They came up with unacceptable excuses. I highly recommend to stay away from HSBC if it's in your hand. Unfortunately I have to suffer with them.
I have received two package letters from HSBC about 3 months apart, and both are identical. "Supposedly" HSBC messed up on a inheritance payout from a personal friend of the family. They did get the inheritor's name correctly but I was concerned due to a couple things: It has been over 10 years since our friend passed away and I have moved many many times since then as well have moved out of my parents' house so how did they follow me? HSBC is asking for many documents that I do not carry- passport, international ID, International Driver's license etc, etc. HSBC insists that if I don't have those documents, I cannot take any steps to receive any monies that THEY forgot (cough cough), to factor into the inheritance I was to receive.
A minor point of concern: The six page letter HSBC sent me is full of misspellings and very poor sentence structure. I have had only high school classes regarding the use of written English and even I am a bit shocked at their poorly written letters. These people scare the crap out of me with all the scamming and fraud going on in the world today. All I need is for HSBC to ask for a credit card... BE VERY CAREFUL DEALING WITH THIS BANK!! THEY SOUND VERY SHADY.
I applied for my first credit card (HSBC Platinum Qantas Credit Card) on the 22nd May via the HSBC website and the application is still being processed 2 weeks later. As I applied online I assumed the process would be quick and easy but I was wrong. Since submitting a copy of my current lease agreement and latest payslip in my application I have submitted 100 points of ID twice in the last two weeks at the same HSBC branch (Swanston St, Melbourne) and called the HSBC call centre multiple times to confirm they have received all of the documents and information they required.
This evening I have returned home from work to find another letter stating that I need to contact HSBC as they require further information - As their office hours are until 6pm and I don't get home until 6pm - I can't call them again until I am at work tomorrow. I don't understand why they can't just call me if they need further information - snail mail is very inconvenient especially when the letters just state that they need further information (no specific details) and that I need to call them.
Just to go along with similar complaints. I could write a book. However my experiences were very much the same as other people's accounts. Out of nowhere HSBC sends me a letter they are closing my HSBC Canada account. I attempted to find out why but was stonewalled at every turn. Not long after I received a letter HSBC is closing my HSBC Shanghai account. However as I was in Canada I could not get my minimal amount of funds out of Shanghai unless I appeared IN PERSON - it's $700 US funds! It took about a year to get my funds without having to appear in person. I had to threaten legal action and an all out attack on their character. My Chinese wife actually went to Shanghai but they would not release the funds to her - it had to be me.
I had set up these accounts as I intended to retire in China. I had little money in them. I was to be a retiring dentist from Canada. I wanted the accounts as would be easy to transfer money from Canada bank to China bank. I have no idea why I was singled out for closure of my account. Minimal funds. Everything above board. Just a "regular Joe". White. Protestant. Clean record. Professional. Fortunately I did not have an account with Visa and Debit and auto payments etc. I can't imagine what a nightmare that has been for hundreds and most likely thousands of people. As for them not giving a reason; it is on the contract you sign on opening account.
However now HSBC Canada has decided to close my wife's account - after 16 years. She still has an HSBC Shanghai account and we have a joint HSBC Singapore account. But we are moving all funds out of these as we are sure they will close those also. We have the joint account in Singapore because technically my wife and I are only common law. In China you cannot have a joint account unless you can prove you are married! I have an ICBC account in Shanghai - no problem. We intend to open a DBS Joint bank account in Hong Kong ASAP.
Someone else on his forum mentioned international accounts are most subject to closure. If you are Canadian and want to transfer money from Canada to a foreign country - GFL (online). HSBC was/is? One of the few banks that allow you to do it. However the risk of having your account suddenly hijacked BY THE BANK is not worth the risk. I would highly recommend to anyone in any walk of life to stay the hell away from HSBC. And by the way, when my wife tried to get my $700 from HSBC in person... the runaround she got was ridiculous. She spent two days at the branch. At first HSBC said there never was such an account. Then they "found" it but there wasn't any money in it! Then they had her go back the next day and they had "found" the money. But they would not release it to her no matter what. What a ridiculous experience. Just stay clear of HSBC.
On one of office visit, they persuaded me to open select credit account to have overdraft protection on my checking account. After the account was opened, one day I got $35 fee for overdrafting. I didn't call at that time thinking I can donate them that money by saving myself effort of calling. 3 month later, I got a mail saying the select account is not linked to any account of mine and will be close. Then I called the customer service this time. A lady with some Indian-like accent picked up and was like a moron to talk to. She was like "you need to take the effort to link the account" and not admitting the linkage should happen automatically when the select credit account was opened to realize the overdraft protection functionality.
Then I asked her to refund me the fee because the over drafting protection was supposed to be there at that time. She kept asking me: "did you report the issue at that time?" What kind of logic is that? I didn't report immediately, so what? So I can claim you stole my money? After 10 minutes arguing, telling her "don't ** with me," she said she will ask manager for approval. Then it's instantly done. It's good her manager knows what is the right thing to do to keep customers. ** service and I am a prime account member.
How is it that those that were originally clients of Beneficial Finance, which is a predatory lender are now being taken advantage of a worse lender HSBC. We weren't ask if that's what we wanted. Our accounts are sold out before the ink dries to the biggest crooks that seem to be monopolizing this business. Since there are so many complaints against Beneficial Finance/HSBC why hasn't Consumer Affairs done a thorough investigation which would include an audit on the accounts of the consumers that have complained. I don't think that is too much to ask for. Listing our complaints on a website might stop those that are thinking about getting a loan through either of these companies, however the consumer whose mortgages have been transferred to HSBC because of a merge etc should not be made to be robbed continually, for something they had no control over.
Once you get involved with these companies it's like being in quicksand, you never seem to get out. They have given me over five account numbers for the same account. I started out with a personal with Beneficial Finance. I can understand that there might be a different account number for a personal loan as opposed to a mortgage loan, but that would consist of two account numbers, not four account numbers. Once the personal portion of my loan was paid in full I should have received paperwork indicating that, that loan has been paid in full.
I'm hoping Consumer Affairs can help assist me get this company to clear up my account. Because I am being made to pay my mortgage to include an escrow account which would have made my mortgage higher, however I am being made to pay a higher mortgage payment, and pay taxes and insurance outside of the mortgage. And now they want to add on more money to include another escrow, why when they haven't use the amount that was supposed to include a escrow account in the first place. I'm not the only one with horror stories towards these companies. I feel these claimed are founded to be valid then an audit over the whole account should be done. I need your help, we need your help if you can't help us please direct us to who can. Thank you! P.S. I wasn't sure where to get my Order number, so if you could send me that information I would appreciate that.
I have spent nine years to get back my money that I deposited 11 years ago. I have wasted over 1000 hours. If I write all I have gone through and still not got my money, it will become a thesis of the worst kind no one would have read or imagined. Some highlights of their torture are: I could not go to India after opening the account, they would only deal with me if I go there! So there was a deadlock.
Through so many pleasantly speaking persons with polite British accents, I get the feeling they will do it now, but after 30-60 min talk, they merely explain, why they can't do anything and why it has to be done by another person who will call back, but I can't call him. All their emails are restricted and they do not send anything in writing ever. I had hard time getting the forms, so account became dormant. After filling the forms according to all they wanted, the HSBC bank in India where my wife hand carried the application to the with all the attachments like my passport picture, my PIO certificate, self attested copies of papers I used to open the account, they refused to take the application.
Now with so many hoops, the customer service manager says he will arrange the application to be taken, but he works nights and banks work during the day; so he sends emails and the answers are awaited. I will believe it when they return the money. How can so many pleasantly speaking people be so worthless; my gut feeling is, dum-dum chairman of the bank who is unaware of all the complaints on consumer affairs website. The money equivalent is INR 55000, which is equivalent to US dollars 800. At one point I told them, give it to the reserve Bank of India as my donation. I do not care if I lose the money. God has been kind to me and I can live with the loss. I do not think they are delaying because they want bribes. They are just dum-dum rules that do not allow them to do anything. As an employee, I will quit such a job. My forecast is, such a useless bank is ripe to go belly up.
One may ask, how I opened the account? Well a friend, my classmate from school days, asked me to open the account and he will do whatever is needed while I am in USA. During my short visit to India I opened the account. Nothing ever worked. The friend died soon thereafter; in fact, if he was alive anybody in my place will beat him to death to recommend to me HSBC. Anyway, their real score should be zero stars; I apologize for over-rating them with one star which is too high for them. Please do not open an HSBC account unless you want to go through excruciating torture that will eventually become a memory of your lifetime. Please check what others are saying about them.
I've had a business account with the bank for over 5 years and they sent me a letter, stating that they are closing my account without giving me a proper reason. I closed the account with them and they never gave me the money in my account back (over 90 000$ US)!!! I am extremely dissatisfied with the way they have treated me since they have basically stolen my money. This is the worst customer service I've ever seen. Take this as a warning if you are closing an account with them, to be extra careful. Also if someone else has faced a similar issue and resolved, please let me know how you did it.
I am not going to spend additional time explaining... am just going to paste what I wrote the business account specialist at HSBC and what I got as a response. On March 11, I tried to use my card (HSBC Business) and my card got declined. I assumed it was probably due to fraud charge the fraud department detected, and accordingly disabled. After numerous calls (2 hours) however, I found out that my business account has been closed. I did go to the Mercer Island Branch to check if it's true, and if it is, to learn why would a bank close my account. Denyatta (the only person that has been helpful so far) told me my business account has been close on Feb 22nd and HSBC sent a letter of termination in January. I have not received any letter of any kind except a bank statement for the month of February (with payments posting until Feb 28th). I have written checks, made online ACH payments until March 11th.
To say it's a BIG disappointment is an understatement. Not only was my account closed, payments I have made were returned, and I have accrued ~ $500 in returned payment fees and late charges. I cannot pay my creditors because I haven't received my cashier’s check from HSBC (20+ days and counting). Today, I went to the Mercer Island branch to talk to the branch manager but was told he is in the Bellevue branch. I did go to the Bellevue branch but was told to come at a later time/date. I did manage to get your contact from the front desk, hence this email.
HSBC is basically killing my business. My account got closed without me knowing about it. Payments I have made were returned. I was charged lots of fees on returned payments. I don't have access to my money (~20 + days so far). I will file a complaint with relevant bureaus but I also want to get this resolved as soon as possible. Here is a reply I got: "I am sorry to hear about your situation but unfortunately besides instructing you contact customer service center, there isn't much I can personally help." It has been more than 25 days now and I still don't have access to my money!
Wish I had read reviews sooner. Awful communication, awful customer service. Awful all around. Run away, run away far. I cannot wait to return to work (when my son turns two in 6 months) so that I can transfer my credit card to another bank.
I still can't believe what happened. I am a 52 years old Ph.D. medical doctor, was kicked out of the bank when I tried to open an account. Here is the story: I collected a number for the customer service after I mentioned that I am coming to open an account and waited for my turn for 1 hour and 20 minutes. Unfortunately I got distracted when they called my number and by the time I reached the desk, the employee had already called the next customer, so she asked me to wait and will serve me after. I waited for 65 minutes till that customer finished and she welcomed me to her desk. When she knew that I am coming to open an account she told me that the other employee is the one for opening the accounts and I have to wait for my turn with him. I got pissed off, that is the time when the branch manager noticed and got involved.
Never mind how acutely she spoke to me, she looked at the required papers obviously trying to debate any of them (proof of residence and proof of employment). She looked at my ID, mentioned the address then she looked at my retirement letter dated 2 years earlier (I am early retired for medical reasons). She said "No this will not work. It is dated 2 years earlier. I need a new retirement letter!" I wonder, do they issue an updated birth certificate or death cert every few years or just at the time it happens? Then she said that she "heard" "you are working in Dubai." "Never mind what you heard just mind the documents in front of you," I replied. Yes I spoke to someone earlier in the bank and I told him that I do consultancy work in the UAE and I don't work in Dubai, because actually I work in Abu Dhabi but I don't have proof of residence and proof of employment out there.
She went for a while and came back: "No Dr. Ahmed we cannot open an account for you because our system shows that this ID is registered that you are working in Dubai." "How come this happened? This is my second time in the HSBC as a whole and the employee I met in the morning I didn't show him my ID." "Ahmm... I did it now" "On what basis ma'am?" "We know you work in Dubai." "How did you know?" "We heard." "But I have a residential and employment status in Egypt." Then she asked me to leave the site. Hilarious Ha.
Changed their system so you can no longer transfer money online. You have to do it through a mobile app which does not work 100% of the time.
I noticed this when checking my credit reports. For me, it hasn't affected my rating too much, but for my husband it is really bad. We are an older couple and have paid off all our debts. He only has one little credit card. I'm in a better situation since my daughter's parent student loans were in my name only, so that is showing up. I called them and they said "Write a letter and dispute it." I did, and they replied that my account has be deleted or some such nonsense. What makes this bad for us is if we want to get a car loan my income alone won't qualify us. He is the only one still working at this time. In fact, I was so mad at them, I looked into refinancing with another company. We can't because the person with the income in our family has practically no credit history.
I've had an HSBC account for the last 10 years and the only reason I started one was because my father knew someone who worked at the local branch. I just started college at the time and had to start handling money, but after all these years this bank is still trying to leech off of me after I stopped using them. For starters, I had a checking, savings and overdraft accounts. And I regret every one of them with their slow customer service, lost bills and lies. But the worst part is the overdraft they call "Credit Select" because they will do everything possible to charge you a late fee.
First off, they would not allow me to access my Credit Select online, no matter how many times I asked them to. It's simply not listed in my account summary where my checking and savings are. So there's no way I can check it on my own time or make fast payments. Next, their bills have an unbelievable uncanniness to get lost or arrive too late. My monthly due date, if there's a charge, is on the 28th. And I wouldn't see this letter until the 5th or 6th the next month. No other bank will ever do this except for HSBC. So every time I have to make a payment, I have to call them up and they say "That's too bad, you gotta pay extra." And this scenario has happened well over a dozen times over the last decade and I've finally had enough.
So in October, I called them up to close down all 3 of my accounts. I paid for all outstanding balances and brought everything down to $0. I specifically made sure this was taken care of before November because I was going on a long-term trip over a month. When I came back, it turns out they sent me yet another bill for consecutive late fees after the account was cleared and paid for on October 15th (due date October 28th). So two weeks ago, I called up customer service and they say I no longer have accounts and cannot access any data under my name so they said, "Don't worry about it." Today, I took it to the bank and they say that I owe them $150... I am sick of these leeches. If you open an HSBC account, you going to regret wasting money on this bank.
This is the slowest bank I have ever dealt with. I have been waiting for my bank account to be open for more than a month. After calling their phone number and listening to music for 30 min, I went to the branch and made there a complaint. They said they would contact me in the beginning of the following week. Of course, they didn't do that. The person from customer support asked all the possible security questions and provided 0 answers.
Funds transferred on the 16/11/15 did not reach the Beneficiary. After 4 weeks of international calls, the payments team confessed to receiving a cable in response to their inquiry which they did not know whether it was from the Beneficiary bank or an Intermediary bank??? This is clearly professional negligence or more likely as Abdullah of Damman has pointed out on this review site a clear plan to deviously profit, milking interest.
HSBC has to be one of the most opportunistic and unprofessional Global bank ever dealt with. Funds transiting their platforms constantly get held hostage and get milked for interest while their second or 3rd party clients frantically follow-up and complain to get it released. They, like cowards, wait until the last possible second of pressure mounting from their clients to release these payments. They will eventually lose loads of corporate and retail clients for their greedy mischief.
I was a customer for over a decade with HSBC and used them as my main bank. I had a grandfathered Online Payment account (my main payment account over all that time) as well as Choice Checking account. I asked them via online mail to close the Choice Checking account - someone screwed up and closed the Online Payment account. I pointed out the error and asked them to fix it. Instead of fixing the error they tell me they no longer offer Online Payment accounts and can't reopen it. I call in to talk to a manager to get the issue resolved - same answer "yep we screwed up and no we can't fix it." I promptly told them to close all of my accounts.
I had to sign up with HSBC for a personal loan I took out to purchase a laptop in a store (and this bank is their loan partner). This should be fantastic advertising for them - but it has simply made me appreciate my current bank all the more. The staff on the phone were RUDE and terribly unhelpful when I tried to set up my credit card, the system crashed TWICE and I had to start all over again. HOW MANY TIMES DO YOU NEED TO ASK SECURITY QUESTIONS. Almost two hours to register a credit card is ridiculous. The website is completely user unfriendly and hard to navigate and the sign in process is lengthy and over the top. I will be cancelling my card as SOON as I have paid my loan and not coming back near this bank ever again.
Hello. Yeah I have moved 2 months ago in the UK to study. I went to open a bank account and start work and as HSBC were offering a 60 pound amazon voucher I decided to go with them. I entered HSBC and was greeted by a rude employee. We spoke and she gave me an application form. I went home, filled it in, came back and they told me I would receive a letter by 7 days. It has been 5 weeks. 4 times visiting the branch asking for help and get told they cannot do anything. 3 times increasing their waiting period (from 7 days, to 3 weeks, to 8 weeks). 1 phone call with operator - to hear the same thing, and here I am still waiting just to get any notification from them. I mean seriously how hard is it?!?
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