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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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Bank Error But HSBC Does Not Keep Its Word

ER in Minnesota said: “I have had a credit card with HSBC for some time and had made my payments promptly. I ordered checks from my bank and they were lost in the mail. My bank by accident stopped payment on what they thought were the lost check which were infact the checks that did get to me. This caused a stop payment on several checks I had paid bills with. My bank offered to do anything they could to make it right including paying any fees from the error in stopped payments.

HSBC was among those that had a stop payment on it. I contacted them right away when I found out what happened. They told me to have my bank fax them a letter stating it was not my fault, but a bank error. The manager of the bank herself did this for me. HSBC would not back down. They raised my interest rate from just over 6% to almost 30%! I had to sell my truck to pay this off as the payments jumped from about $70.00 to about $250.00 a month of this, over $100 a month was increased interest. I called them many times, and begged them to correct this and they refused. Beware of using plastic now…they can ruin us with this kind of cruel stuff…greed is the heart of this of course. Don’t let HSBC squeeze the life out of you!”

Posted By Timothy Blake

HSBC Watch is a watchdog and consumer activist coalition.

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off