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HSBC credit card payment credited to wrong account

Todays featured complaint about HSBC is from Ray in New York. He said “In July 2011 my card was rejected when I presented it for payment at retail store. I immediately contacted HSBC to see what problem was, and was told my account was in arrears. I do online banking thru my credit union and checked to verify that payment had been made, and was informed that indeed they had issued a check for HSBC – which HSBC maintained they had not received.

Therefore I issued stop-payment on previous check, and sent another payment via overnight mail. Days later, my credit union informed me their stop-payment process failed, and that HSBC had indeed processed my original payment…so now I double paid.

Hsbc told me to have credit union provide a copy of their cancelled check and fax it to them…which I did…along with a letter of explanation (every time you speak to someone new and have to provide that person with complete history of problem).

HSBC acknowledged receipt of this info and promised to investigate the matter. The following month I completely paid off account…zero balance and vowed not to use this card til matter was setttled. In Sept they still hadn’t contacted me with any results of their investigation, so I called customer service.

This representative was VERY helpful and with the info she had, determined our initial payment was credited to ANOTHER person’s account, and that this person had notified them of this. Now it would just be a matter of taking the credt from that person’s account and applying it to mine.

HSBC also agreed to credit me for the interest and late charges they put on my account, plus refund the cost of my overnght mail expense.

In october my statement showed a credit for late charges, interest, and postage refund, but initial $1000 payment still wasn’t credited to me. So I called Customer Service and AGAIN had to provide complete history of dispute. I was told that their Monetary Reseach dept was back logged and it would probably be another 60 days for this to be settled! 60 more days on top of the 3 months that had already elapsed!

The last Rep I spoke with got very condescending, acted as though I had no reason to be upset with their handling of this…as though I should be elated to have been refunded $55 in late charges and interest…and that I should monitor my account online, so I wouldn’t need to call every day. I caslled them 5 times in 3 months…mostly to find out how many hoops I had to jump through to settle THEIR mistake.

This matter still remains unsettled, and I’m considering notifying state attorney general’s office”

Posted By Timothy Blake

HSBC Watch is a watchdog and consumer activist coalition.

One Response to “HSBC credit card payment credited to wrong account”

  1. Lisa Mauberry says:

    I got an Orchard Bank credit card with a limit of only $500.00 to re-build my credit after a messy divorce. The first month I used $73.00 and paid it in full though my account page from my checking account. The second month I used $88.00 and paid that in full the same way. The third month I used $366.00 and paid in full the same way however, this time when I looked at my account I had a $366.00 payment hold? my payment is due on the 25th of each month I looked at my account on the 5th of the next month 12 days after my payment was posted to my account (it was posted on 09/24/2011) my bank said the check cleared on 09/26/2011 I was like what’s going on? so I called the number on the nack of my card to ask why? I was told they put a 14 day hold on payments made by check in case they don’t clear.. I could hardly understand the pakistani CS rep ( who’s name was billy.. I kid you not! ) but I think he told me they are only notified if a check bounces not if they clear so they wait that long for a notice? I told him I made my first payments the same way and he told those had holds on them as well but.. they didn’t! he all but called me a liar! Any ways they finally credited my account on 10/11/2011 17 days after I made my payment and only 8 days untill another payment was due.. That’s not what I am writing about.. because they held my payment.. when they reported my account to the agencies it showed me using 70% of that credit card limit and my credit score went down from 602 to 594.. I got the card to help my credit not hurt it! Orchard bank sux donkey balls.

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