HSBC 3 day hold lasts 45 days, customer finally gets their money

Jeff in New York said: “I had a house burn to total demolition. It was insured for 50k. I still had 18k on my HSBC mortgage so the ins co. said they had to issue the check to HSBC and me. HSBC told me to take it to a branch and they would cut me a check for my portion. Upon arrival I was informed I needed to sign the check over to the mortgage dept because there would be a 3 day hold on the check and they would record a payoff statement for the third day.

Then HSBC would issue the remaining amount. Fair enough. Well 45 days later and 6 customer service visits later I finally nagged MY money out of them.

Recently I paid off my mortgage on another house. They sent me a payoff statement over charging me. This loan settled on August 11th 2009. It is Oct 3, 2009. I have not been sent a refund. I have 5 calls in only to get the run around and “ASSURANCE” that it will be there in a few days.”