Andrew Armishaw, group executive and chief information officer at HSBC has some explaining to do. Consumers have reported in recent weeks that HSBC’s online payment website, www.hrsaccount.com , will not let customers pay their accounts online. The number of complaints about the online payment website rose to an all time high in recent weeks. Consumer watchdog organization Household – HSBC Watch said www.hrsaccount.com supports accounts for predatory lender Household International, now called HSBC Finance Corporation. See a letter to the FBI and regulators.
The company makes millions of dollars every day when hrsaccount.com is not operational, through late fees, interest, and $15 fees for payments by telephone. “We think it is another blatant attempt to increase revenue at the expenses of the consumer” said Household – HSBC Watch. “If they lock you out of the online payment website, do they report you as late to the credit reporting agencies? And remember, part of what you are charged goes back to the original merchant as profit for them. You can’t pay at the store in most cases. This may have implications of racketeering” said the organization.
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