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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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Texas Resident – Here is my letter to HSBC

SG in Texas sends a copy of a letter:
“I wrote this letter to the V.P. of Customer Service after a bad experience:
I am writing today to inform you of inaccurate information provided to me. I called Retail Service 800 number today and could not make myself heard. I would like to explain my position.

I have been paying on the above referenced account through Bank xx’s bill payor service and have encountered no problems, until July. On July 9th I had a payment scheduled, which was not made. I called your company on 7/16/07 to inform you of the error. I was not sure of the person’s name, she was hard to understand, but I wrote the name phonetically as ”xxx” . I explained the situation and told her I had already scheduled another payment to be paid on 7/17/07. She told me the late fee would be credited on the next statement.

I then scheduled payments to be pay off this account.

The statement from which I obtained the information is dated 7/18/2007. It listed the Promotion Expiration Date is 9/02/2007 and Promotional Payoff Amount is $xxx. Pailments equal to the payoff amount were paid by 8/30/07. I did not pay the late fee shown because I had been told it would be credited on the next statement. I considered this account to be paid in full as of 8/30/07. No further payments were scheduled.

On Oct 10th I received a statement showing a balance of over $800. I called the 800 number on the statement. The first representative I spoke to, did not care why I called. He just kept saying I owed money and now another late fee; I had not made payments, etc. I asked to speak to his supervisor. I spoke to Mrs. Xxx briefly and she called me a liar. When I tried to explain the situation in July and August, she said she was escalating this call. I then spoke to XXX and told her I just wanted to explain my position. She said she would listen and then kept interrupting me. She told me if the purpose of explaining was to reduce fees that I did not need to waste my time or hers; the charges were legitimate. I just wanted her to understand why I had not made the payments after 8/30/2007. I had a “legitimate” reason.

xxx also told me I was lying because there was no record of my call on 7/16/2007. “The records show no phone call and they are all logged.” I asked her to stop interrupting me and hear me out. I finally asked how much it would cost me to get rid of this account. Abigail told me the balance is $53.50 (all late fees). I was treated like a criminal and hung up angry.

I have scheduled a payment of $53.50, which I would not need to pay if your records had been updated properly. The situation could have been handled much easier and more quickly if your reps could be polite and listen to what the customer is saying. Even after the call was escalated, the reps remained antagonistic and would not listen.

It has been very unpleasant doing business with your company, and I assumed you would want to be informed. This account is paid in full.”

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