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From A.A. in California
I have had an HSBC card for years.
When I made my first payment, mailed well in advance, I kept checking to see if it had posted and when it hadn’t posted on the day the payment was due, I panicked and paid over the phone for a fee to avoid an even more expensive late-payment fee. Later, the payment I had sent showed it posted on the due date.
This happened again the second month and I paid over the phone again, for a fee. Again, when I called to check my account days later, the payment showed it had posted on my due date, even though when I called that day, it didn’t show that it had posted.
After this, I caught on and realized that it didn’t matter when one mailed a payment, it wouldn’t be posted to the account until the last minute, probably to scare customers into paying over the phone.
This month, the payment was due 2/6/10. It was mailed well in advance and there was no record of the payment posting when I called on 2/6/10. It wasn’t until 2/9/10 that the there was a record of the payment and the record showed the payment as posting on 2/5/10. Why didn’t this show up in their system when I called on 2/6/10?
I wonder how many people panic and pay money for the “convenience” of paying over the phone to avoid a more-expensive late fee just because HSBC doesn’t show that payment has been received until after the due date?
This practice may not be illegal, but it needs to be reported so people are aware that they do this. I have 3 other credit cards and this never happens with them.
This article, HSBC Website Slow in Updating, is just one of our articles from Bank Horror Stories, HSBC Secrets
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