HSBC: The S stands for Sucks
From the Name Them and Shame Them Department
My bank recently returned three cheques I had paid in, which were funeral and other fees from one of our local undertakers, an excellent, friendly and caring family firm. These cheques had been bounced by the undertaker's bank branch, marked 'Account Closed'. The undertaker had indeed closed that account, but with instructions that the bank should first honour all cheques already drawn, which the bank agreed to do. They failed to honour their instructions and promise, to the great embarrassment of a fine local business.
The bank? HSBC. The branch? Their Witney branch.
My advice: if you are thinking of opening a bank account, or changing yours: don't even think about HSBC. And if you are unfortunate enough to use them: well, what about changing?
The sad thing is that this is probably typical. The banks and financial institutions don't really give a damn about individual customers (unless they can add your little debt to the trillion pounds or so of personal debt that feeds their outrageous profits) or business customers that are anything smaller than Megacorp Inc.
My bank recently returned three cheques I had paid in, which were funeral and other fees from one of our local undertakers, an excellent, friendly and caring family firm. These cheques had been bounced by the undertaker's bank branch, marked 'Account Closed'. The undertaker had indeed closed that account, but with instructions that the bank should first honour all cheques already drawn, which the bank agreed to do. They failed to honour their instructions and promise, to the great embarrassment of a fine local business.
The bank? HSBC. The branch? Their Witney branch.
My advice: if you are thinking of opening a bank account, or changing yours: don't even think about HSBC. And if you are unfortunate enough to use them: well, what about changing?
The sad thing is that this is probably typical. The banks and financial institutions don't really give a damn about individual customers (unless they can add your little debt to the trillion pounds or so of personal debt that feeds their outrageous profits) or business customers that are anything smaller than Megacorp Inc.
posted by Tony at 10/19/2004 09:20:00 am
30 Comments:
If the account is closed, how could the cheque be honoured? Where would the money come from?
HSBC does suck!!! I live in the States, and if you pay their credit card online, it wont go thru for at least 2 business days so if the weekend is coming you get a late fee, and if you call to pay they charge another 15 bucks. Plus they raise their rates at will and the customer service are all robots.
Pay your bill on time and you won't have to worry about late fees. Duh
HSBC sucks aload of cock
HSBC is a bank that I would rather not deal with. Their credit card statement is printed with dot matrix printer in a amateurish sort of way and their customer service persons are unfriendly. I applied for a job in HSBC some eight years ago and I wont apply there again...
I don't know about the rest of you, but I am a customer of HSBC, and I find it the best ever.
- Customer service is excellent
- Saving options and plans: more than Excellent
plus you can find a branch or an ATM every where. What else do I want from my bank.
"Hong-Kong Shanghai Banking Company" I worked at HSBC and recently quit, I would never work there ever again, never recommend banking their, or get a credit card there, the management sucks, no communication, HSBC is pathetic, 2nd largest bank in the world, worst customer relations, the people that work their are just weird...I took collections and called out to customers, it made me cringe on how many people I called a day knowing they are getting ripped off, $300 credit limit to people that have little or no extra income, if missed one payment they can never catch up, yes we had options like acct secure plus, but 90 days of appoval is needed. Pretty much the only reason a rep is nice to you is because of thier big incentive bonus for getting your $12.95 check by phone...Free online but 2 day waiting...Worst Bank Ever...
I have been dealing with HSBC Auto Finance and they have the worst Customer service on the planet. They are rude and have no knowledge of what they are doing. I recently got a bill for only they know oops no they don't know. I truely recommend that nobody else has to go through the same. Speaking to someone is their privilage. STAY CLEAR they are a joke. Acostly One at that!!
For the person that works their that says that the people should pay on time DUH back at ya as it does not matter they will charge you a late fee any way unless you live next door or work their, cause even if the payment is sent on the correct day if the mail is late, you will be penalized. THEY SUCK
From NYC
Getting an HSBC account/credit card has been the worst move, and I don't think that I am a demanding customer. I just got off the phone with their 1800 number after speaking to about a half dozen customer service people, each passing the buck on to the next.
This is not the first time.
I know have a Citizens Bank acount, which i think is only in Boston, it's great, can talk to real people, no runaround.
The S does stand for Sucks
HSBC is the big corporation that runs Household Bank, a company that I used to hold a Mastercard credit card with. They are ATROCIOUS. I agree that they disobey customer requests and also add exorbitant fees.
Last year, I changed bank accounts. I was making a payment on my Household Bank MC online via their website, so first I changed my checking account info, got the confirmation, then made the payment. Mind you I had more than sufficient funds in my checking account at the time. So a few weeks later, I was outraged to see that the online "check" had been DECLINED, followed by a series of late, overlimit, and returned check fees. Turns out that THEY withdrew money from the wrong checking account, even though I'd followed instructions on their website and did the correct thing. I argued with many amateurish, defensive reps before someone told me what the problem was(I'd predicted it was taken from the wrong account all along) & admitted the company's fault. He then agreed to credit all the fees if I used the "right" account to make a payment right then & there. YES the fees were removed, but doing so meant doing it right then over the phone, which meant a $15 fee for over-the-phone payments. If they did it right in the first place, I wouldn't have to pay over the phone, why should I have to pay the $15 fee?? At that point I was glad just to have the $105 in fees removed.
A few months later, they tried to pull a fast one by adding on the same late fees AGAIN! Fees for the same exact incident that'd occured months earlier & I THOUGHT was already resolved. Again I had to dispute it with their blithering idiots known as reps, and get the fees removed. When I asked for a raise of credit limit, they rejected me, based on "past history of too many bounced checks" EVEN THOUGH THEY'D ADMITTED THE BOUNCED CHECK WAS THEIR FAULT. When I checked my credit report, my Household account was marked as "delinquent/derogatory" for being previously pastdue, even though THAT was supposed to be removed due to the "bounced check" being the company's fault. I argued with the reps for removal, this time they refused to admit company's fault. Finally I went to the Better Business Bureau, and they got on Household's back & made them bow down to me!! The shit-talk Household put about my account on my credit report was finally removed.
So yeah, I'm never dealing with Household ever again! They are a PREDATORY subprime lender company, that preys upon bad-credit people & likes to see people default so they can charge them excessive fees. Generally bad-credit companies suck and their customer service is horrible! I think the reps treat you like shit because they assume you're one of the many bad-credit people they work with, therefore bad credit = no respect! They TRY their best to trick you into becomming delinquent. Even if it is in dishonest ways, as happened with me.
I have opened an account with HSBC, but after 10 days, I find that it will be at least one more week before I can access any info.
They have an absurd and costly process of sending 3 separate postal mails with bits and pieces of online log on information.
I understand the need for security, but NO one else is this slow to get things to me. 3 postal mails sent 4 days apart is just stupid. I makes me question how internet-savvy these guys really are.
Did you hear about the guy who was treated so badly by HSBC that he committed suicide, go here to read all about it (http://news.bbc.co.uk/1/hi/wales/6038086.stm)
I had the misfortune to bank with HSBC while I earned my BSc and PhD, first chance I got I gave them back their stinking money and took ALL my business elsewhere. There are plenty of banks out there, I say everyone should do what I did and take their business elsewhere. Since money is ALL they care about, hit them where it hurts, maybe then they will be actually treat their customers like human beings.
As a prospective new customer, in the first minute of contact I was already scared away by the customer service persons total lack of knowledge! HSBC sucks like no other . I also see that they claim to be "your local bank" try find a local branch number on their shitty internet website :-)
u all suck ass
you suck so much ass that u have no more ass to suck
In fact it seems they ain't a "World local bank"! There are a lot more "local" rules that are superior to what's written in their web sites. For instance, if you're of some undesired nationality (e.g. russian) you have to deposit "just" GBP100,000 balance to open an offshore account :) Also, if you're foreigner with an account legally opened in Korea, you will never be able to control it overseas via Internet, nor will you be able to arrange an international transfer (you can do if you visit the branch). Funny, isn't it? And so on..
Thus the question is: how can HSBC help to contractors or students working abroad as they clain with honor? No way.
In my opinion they suck soooo badly. AVOID.
HSBC is the worst online bank I have ever used. First their security is plain stupid. Why have a security key, what's the point? I already have a user ID and a password. None other of my 3 online banks do this unecessary step. Also a $3 fee for outbound bank transfers...stupid, unecessary and none of the other 3 do it. Lastly their website does not recognize the new user ID I changed 3 times over. I cannot explain the stupidity of even their web master. Plus their customer service people are Indian and I waited 30 minutes tonight for someone to answer (they are supposed to be 24/7. Nothing. I want to close my account...It will make me feel so much better.
The other 3 I have an recommend are: Vanguard (Online brokers...awesome)
Emigrantdirect. No problems.
ING direct, not so good rates but a great site and service.
October 2006 HSBC's credit card statements came with a insert called Smart Tip #8.The Smart Tip # 8 in my opinion, is a carefully constructed advertisement for the 3 major credit reporting companies to steer their customers to their(the reporting cos.) individual web sites to purchase a product, disguised as a FYI ("Now You Know").
The opening statement "Request your own credit report once a year. It's easy and it's free" is understood by anyone of reasonable intelligence to be in reference to the new law allowing you to get free credit reports ONCE A YEAR, anyone who has not heard of this law would simply assume free means free, once a year. Due to the asterisk directing the consumer to the individual credit reporting companies web sites INSTEAD of the Central Source website-annualcreditreport.com they are steering them to purchase from said credit reporting companies. Otherwise they would have put ANNUALCREDITREPORT.COM as the contact web site, which credit reports are free sans credit score. Further, the statement, "It will tell you your credit score and status." only drives home my claim of steering consumers to the site to buy a product from these 3 credit reporting companies websites, as we all know the credit score IS NOT FREE, PERIOD. I have checked and the 3 web sites, all offer products for credit reports with credit scores on their initial pages that look FREE at first but there is a charge. Yes, you can find a link on each site to the Central Source unfortunately most people do not recognize the words "FACT act".(on the bottom of the initial web page) Fact act is never mentioned on Smart tip #8.
Why would HSBC make people access a web site to search for a buried, tiny link to another site, that is labeled with a widely unknown name (FACT act) and not mentioning that Fact act name anywhere, while advertising that you will get a free credit SCORE with your free credit report knowing full well that this is not true all the while acting like they (HSBC) are offering you a "Smart Tip" letting you know about free credit reports available once a year, when you could have directed them to annualcreditreport.com and let people know that the credit score was an extra charge ??(Which would have been a true SMART Tip).
I will be waiting for the Client Services Department answer to this question.
This is the letter I sent to Cathy Machuca
Executive Liaison
Office of the President
cathy.m.machuca@us.hsbc.com on or about 12-05-06
As of 3-16-07 I have NOT recieved a response to my direct question.
Will this bank stop at nothing in its quest for the almighty buck?
Here are the facts,(From FAQ's)
How can I request my free statutory annual credit file disclosure?
The FACT Act required that the national credit reporting companies establish a Central Source through which you will request the statutory free annual credit file disclosures. You may contact the Central Source by visiting www.AnnualCreditReport.com or calling 877 FACTACT. If you prefer to write, a request form is available on www.AnnualCreditReport.com.
Personal banking rates are higher than other banks. I guess they survive because they have branches all around the world so it works out for big companies that need to business globally. It's a British bank after all run by Chinese, what else would you expect?
HSBC's Buffalo, NY customer service operations are an example of organized bigotry. They will shout from the rooftops that they fully embrace ethnic, racial, and sexual diversity, as well as that of the physically challenged; but once you can't photograph it, they don't give half a damn. A worker was diagnosed with a learning disability which prevented her from recognizing numbers properly (dyscalculia) and when a medical order came to move her, she was asked to resign. I refuse to do business with bigots.
HSBC is the worst company I have ever delt with. Any one thinking of using HSBC or any of its Affilates thinks twice. I have been using the company for the last five years and it been nothing but problem after problem the worst customers service ever all from India amd are of no help. The contract agreements are writen so as a normal customer can not understand. I currently have a lawyer looking into my matter hopefully a class action arise out of it and we can all get are money back from these crooks.
HSBC is the worst organization I have dealt with. I had thought it was Chase, but HSBC is now the winner. I was told today that the president "did not talk to customers". SO there's an indication of the 'commitment to customer service'. Hidden fees abound and their answer is too bad you have to pay them. I canceled my account, and won't deal with these jerks again.
pay your bill on time? you must not know much about hsbc. they cashed my check late and charged me a late fee about five times in the last year. It may be there fault, but how can you talk to costumer service when they are robots. if you can get to a real person, they are trained to lie, or put you through to a manager that never is in his office. Guess what, they dont return your phone calls.
Actually I read a while back that there was a student in England whose student overdraft was suddenly cancelled half-way through the University year. They then called him five times a day for a whole month harrassing him over this money, which they really didn't have a reason for wanting back. At the end of a month, he killed himself because of his financial worries. It was in the Guardian or on the BBC website or somewhere.
I have never experienced worse customer service than the one HSBC is providing. For two weeks I have been asking them to send me my bank statements without success. The person who I spoke to actually LAUGHED at me when I expressed my frustration. HSBC is not a bank, it is a bad joke!!
hsbc does not suck this is the way all banks work... and all online bill pay sites... 15 dollars to pay by phone is better than 30 for a late fee... they raise rates due to changes in your own credit score and your account behavior i.e. late payments or overlimit etc... people who work at hsbc focus on customer service and pay and benefits are good...
they issue credit to people with low credit scores who should feel lucky they get credit at all!
The worst bank in the UK, i have had some of the worst experiences with this bank including one where i deposited money into my account and it took 2 weeks for the money to show up and this was only because i had to follow it up with the branch manager almost every single day of the 2 weeks. The city
London, the branch Lewisham!
I'm a premier customer of the Crawley, UK branch.
My finances are stressed there is no doubt, but I earn £130,000 per year and my house building project will yield £200k profit in the next 16 months.
None of that impresses my "manager" and what I would say is EVERY SINGLE TIME they've invited me to consider using them (you know, for mortgages etc), its always come to nothing. Thats why I hold mortgages elsewhere. I'm in the process of switching my indebtedness from HSBC to Virgin and as soon as thats done, I'm going to be looking for a decent bank.
I URGE ANYONE CONSIDERING HSBC NOT TO GO THERE, THEY'RE COMPLETE CRAP
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