Consumer Complaints and Reviews
@HSBC_US worst service ever. I applied through HSBC for Mortgage and it took them over two months to provide me a rejection letter. I had to call them several times to get an update on my account. They kept spamming my email and asking me every two weeks that If I'm still interested in working with them. I emailed my representative Maria ** two times and she did not reply back to my email. I have applied for the mortgage through RBC and I got the pre-approval letter for a mortgage of $650,000 within a week with a rate of 3.87. I will never do any business with HSBC and also please check the reviews of HSBC on another website which shows how bad they treat customers.
I called and got payoff amount for example to make this easy to understand - it was $2000.00. I paid online the amount, yet a month later they auto debited my bank account for some invisible $19.00, only it took what was the original full amount of our payment of $150.00 and we now have to wait up to two weeks for our refund of the $150.00 MINUS the $19.00 fee that by the way cannot be found ANYWHERE online and I have screenshots to prove a ZERO balance as of 5 days ago still which is 17 days AFTER the payoff, yet they took the money last night. This caused us to overdraw our account and now we have negative money for 2 weeks until payday again and all they can do is tell us it takes 14 business days to process our return of a PARTIAL credit. This has got to be illegal! Regardless, bad reviews are coming on every site I can find, email every city and state official and via word of mouth to shut down these loan offices in Virginia.
On dated 15 May 2017, I wrote an email to HSBC and sadly till now no one responding it. Maybe the officer are look down on us as customer. Here are the email I wrote and address the email to Ms Salmah **: Dear Ms Salmah **, During last conversation with you, you did informed me that my card cannot be used and also had been cancelled although I had paid all the outstanding bills. She strongly says that if I wanted to use again I need to re-apply and application may not be approved by the committee. Though I did mentioned to her that I need to use the card badly as I stationed in oversea and she still say NO.
From that onwards - I feel bad and inform my working colleagues and friends what had happened and 2 of friends says to me not to take any service from HSBC as they had faced similiar problem. Recently to my shock, my wife called me and informed me that the HSBC bank are penalty me for not paying outstanding amount (admin fees) SGD $2,75 and now I also need to pay penalty fees. It really ridiculous. HSBC had cancel my card and I not cancel my card. During my last payment I also ask and inform the counter that I need to pay ALL the outstanding debt and now the HSBC bank say I got outstanding bill??? I confused. I demand an explanation. Thank you.
HSBC has the worst customer service of all bank out there. I am a premier customer yet the type of service I am getting is horrible even for a regular customer, let alone premier. I have sent message online to customer service to complain & asked that my premier relationship manager to contact me - no feedback nor response whatsoever. If I have option to give 1/2 a star for this review I would. I am going to transfer my $ out of HSBC & do not wish to do business with HSBC anymore. Stay away from this bank.
So I have been a customer of HSBC for approx. 1 year in Australia. I work overseas and get paid in US dollars, hence I have US dollar account with HSBC in Australia where my money is deposited. For 12 months my pay has gone into my account with no issues, on my last monthly deposit - disaster struck. For some reason using the same account details that have always been used, HSBC declined the pay - account number wrong/name wrong. As such they have charged US120 and returned the funds through Swift to my employer. Enquiries with HSBC after numerous phone calls finally ascertained that my employer had placed my BSB number after my account number which is why it was rejected. Considering this had been accepted for 12 times previously I was a bit bemused, however my employer accepted the fee and redirected my pay into my account with the BSB number now at the front.
Several days later I checked my account and the funds had been placed into it, but it was short approx. US700. Trying to get hold of HSBC was impossible, no response through emails, customer service on phone were no help at all, so I went through my employees route and of course it was all down to HSBC. Swift were fine. HSBC, for some reason they decided to convert my money from US back to AUS, then they have reconverted back to US and placed into my account with the fees removed. Obviously I have been charged for these conversions, which is totally unnecessary as I have a US account.
As I work overseas there is no branch to attend to, no one can respond to my emails sent to customer service (emailed 6 times - each response is I will contact in 48 hrs - nor response), no one can answer my questions over the telephone line which is expensive, and very difficult to understand operator. I ask for supervisor and they say they will call back - never get any call backs. Where do I go from here, this totally insane and frustrating. Any comments would be appreciated.
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My partner and I decided to buy an apartment in HK and we made a deposit. A month ago he transferred 600000 HKD (around 50000 USD) from his OWN Swedish Bank account to his OWN HSBC account in Hong Kong. Whilst the Swedish Bank has informed that the money has successfully transferred out, for 4 weeks he did not receive anything in his HSBC account. No one has ever contacted him. He called the hotline in a daily basis, many staff promised to get back to him but there was no news.
He went to the branch today and only when he threatened to call the police, he was allowed to speak to the Assistant Branch Manager, which, he said he could not contact the transfer department. So there was nothing he can do. We filed a case in the police with the missing money, and informed HSBC by calling the hotline (again!) telling them that we do need someone senior to sort out as the case has been escalated. Once again, they said that they will call back.
We already filed a case to Hong Kong Monetary Authority as keeping customers' notably sum of money without a reason should fail the bank regulatory standard. It is our life saving and at most, we are only allowed to contact junior staff. The customer service is appalling and they really don't care. Not to mention our penalty fee for us not able to pay the final payment of the house. Being a Hong Kong citizen, I am ashamed of the bank (which called themselves a " HK local bank"). And to this date, we still don't know if anyone do care to help us trace the money. We are really sad.
I had a small business in Malta and had banked with HSBC for over 8 years... Suddenly they sent a letter that they were closing my account and refused to overturn their decision when I pointed out to them that this would have serious consequences for my business. They since declined transfers and receipts, However an old customer sent funds in error to that HSBC closed account rather than my alternative account.
They have not credited any account and also have not returned the funds to the originator of this transfer. I have emailed customer services but from past experience, they just bury their heads in the sand. No reply so far, the MFSA has set up an arbitrator. But in my view this is no more than an extension of the banks, thinking of going to the police to report HSBC as this is just no more than theft and fraud.
After 20 years, I have decided to leave HSBC. I have had nothing but grief for the last couple of years. Blocking my card continuously for no reason, not being able to get cash out of local ATMs, not being able to do online shopping with companies I have shopped with for 5+ years. Calling them to tell them I'm going abroad, only to find my card blocked, when trying to pay in said country/city.
And the never-ending calls, that have cost me a fortune (last call was over an hour, and nothing NOTHING was resolved. They offered me 33 GBP compensation for my 2 years of calling them and complaining about ** that should have never happened - I felt absolutely insulted). Only to have everything above mentioned happen over and over and over again, every couple of months. I am completely exhausted, disgusted and repulsed by their customer service, care and attitude. There are so many better option out there. Bye, bye HSBC. Go torture somebody else, I quit.
It was seriously worth it to take the time to write this review and I would particularly warn new customers intending to open an account with HSBC. I'm employed by an overseas oil company, so all I needed is a bank account in the UK. After three years, I say with a big disappointment that HSBC staff are poorly trained and cannot handle simple issues. If you call, you will need to spend over an hour on the phone before they tell you that they cannot help you and that you need to visit a branch. And, if you think the branch is going to be better, you are absolutely wrong!
There are many big problems, although I needed the bank on a few occasions, but every time it is dramatic and ridiculous. HSBC staff always lie to you or misinform you. And then if you move to talk to their supervisors, you just see how helpless they are, and about simple things like getting a contactless card, stamped statements, account upgrading, updating information, charges overseas... etc. HSBC customer service is pathetic.
I have been with HSBC for more than 25 year (living in Asia, the US and Australia). I have used all their facilities, FX accounts, home loans, etc. They are so disconnected from their customer, me. As an aside, they have blocked my debit card 5 times in the last 60 days as they were concerned about 'suspicious transactions'... all made to local stores who I have used my card for the past ten years. I have had to replace my debit card twice this year as I have been advised it had been compromised? I am also with Westpac, for 5 years, none of these dramas.
I decided to cancel 2 active credit cards with HSBC last September and told HSBC not to issue any new cards because I was done dealing with their poor customer service and didn't want any future service with them. The cards were canceled and I paid the balances in full for both cards and thought I was done with HSBC. Well, surprise, I'm not done, they issued 2 new credit card numbers for both of the canceled cards, without my knowledge or permission. They also allowed charges to be placed on those cards that I specifically told them not to reissue. They allowed merchants who were never given the new credit card number to charge against the card.
I have been calling and wasting time on the phone with them regularly since September to rectify this and have had no luck. Their customer service is so poor, there is usually a language barrier with the person trying to work with me. Hours on the phone have solved none of my problems. Canceling credit cards and stating no new cards are authorized by me, means no new credit cards, they do not understand this?
As a business we work with 6 banks. HSBC has been the worst performer for years. We are today finally throwing the towel in at in the UK. We were asked to fill in a form we could not download from the internet. The inability to download the form, and the inability of the data system that records telephone calls to work, led to the closure of our Euro account for no apparent reason. Following a telephone interview of which HSBC have no trace, which I find quite incredible, which took place only a few weeks ago that they organised, despite apparently complying to all HSBC asked of us, and being told the account would stay open, it vanished along with the proceeds.
HSBC sold our Euros at an uncompetitive rate, and placed them in our Sterling account. Then told us they would be closing the other accounts in due course. Anyone's guess when as nobody has any trace of that either! Client communication is terrible at very best. We are not a small group. The holding company, a private PLC, has 11 companies. Group sales exceed 500M. Although we only confide one small business to HSBC UK, thank god for that I am thinking, because I could not imagine trusting them with any more. I have had a meeting with HSBC Paris at their very swanky Champs Elysee office at Corporate level with a view to a partnership only two weeks ago.
My point is here when you see what the top brass at HSBC get paid to run a show like this. I am an HSBC premier client by the way, not that that made any difference anyway. Improving customer service does not seem high on the agenda. Making money is the only thing that counts but when customer service is this poor you end up losing money also. Global Banking is there for the taking. In the coming years I just hope that some faces will appear and the return of personal account managers for smaller businesses who I am sure will pay a premium for real service. Stuart Gulliver the boss has a home near my home in France. I will stop by if I see him having a coffee in the Square in Aubeterre Charente and offer maybe to review the whole procedure. I wonder if he knows how bad HSBC service levels have become. I wonder if the people responsible would keep their jobs if he knew.
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.
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 $200.00 of phone calls from my home base and still didn't get any updates, they keep saying somebody tried to call me but I never had a phone call from anybody. Nobody ever called me back with news but more importantly with positive updates. My frustration is so high that I asked for my other bank (beneficiary bank) to help me with this issue which he did. He is talking to them as from yesterday (19th/10/16) and he was promised some updates soon but he was refused as well to talk to a supervisor.
I am also working with another person now. She is the first person to call me since this nightmare started. She called me yesterday October 18, 2016 for the first time and she was very surprised that again nobody called me yesterday. I did told her that she was the first and only call I had from HSBC since September 12th WHEN THE TRANSFERS WERE INITIATED. Since I have a lot of followers and I followed a lot of people on Twitter I twitted to HSBC.com.sg my all story and one of the multiple responses I got, came from HSBC and they asked me to email my story at firstname.lastname@example.org. Still no responses. In my 40 years international banking relationships, this is from far the worst experience I ever had. This money is my life saving and my retirement money since I am half retired.
Updated on 11/01/2016: It is with great relief that my bank called me early this morning (10/21/2016) to inform me that the transfer arrived and it was credited to my account. It took 40 days for HSBC to do the transfer and for the funds to arrive in my account. However it is with great outrage that I reviewed the telegraphic details and saw that HSBC had the audacity to charge me USD$ 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.
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