HSBC Bank USA, National Association

Used To Be Decent But Turned To Shady Nickel And Dime Practices To Make Money.
- STM519 - Sunday, January 30, 2011 - 3:17 PM

I recently closed a Select Credit account associated with my checking for overdraft purposes.  They somehow find ways to invoke overdraft on the same days that direct deposit goes into my account.  So that even though on-line it looks the money was available, they transfer money from the select credit to cover payments, and of course charge interest for it.  What's worse is they don't display the correct balance on their website, since they only update interest once a month (or per statement) on line.  So if you use the web to transfer money back to select credit to satisfy the balance, you will always pay too little.  What's worse, when I call and asked for a pay off balance and transfered money in, it turns out the amount they told me was $11 too high but since I closed the account all they can do is send me a check.  (Of course they never notified me, I only noticed since a week later, the account was still appearing on the internet account.) When I called to complain, that they basically took $11 from me without deserving it, the customer service person told me that they quote a higher amount because most people like to pay by check and they need to account for interest while waiting for my check.  REALLY?  Most people with on-line accounts in 2011 like to write a check and send it to HSBC instead transfering money in?  Which by the way, the first customer service person watched on line, while I paid off the amount, before closing the account, so they knew they had my money the entire time.  If you or I took $11 from someone that we didn't deserve and held it until they asked for it back, we would rightly be called thieves, when HSBC does it, it's called banking.

I am in the process of closing my checking and savings accounts with them.

 

My Horrible Experience With HSBC USA
- mabdalla77 - Monday, July 18, 2011 - 11:01 AM

I've had an account with HSBC Egypt for more than 10 years and I was very satisfied with the great services they offered. When I came to Buffalo - NY to start a new job as anesthesia resident, I selected HSBC for my salary direct deposit. I went to kensington office, my application for checking and credit accounts was approved and I was happy with that. S, I diverted all my bills and my salary to HSBC accounts and paid 24 USD for a checking book. I deposited 3500 USD in my account in the first week. Then I was so disappointed for a lot of reasons:

1. An HSBC agent spoke with me over the phone and she advised me to open a savings account, and had all the information, but that account was never open.
2. the name on the credit card was misspelled, although they had all the documents showing the correct spelling. When I tried to fix it they asked me for a court document for name change!
3. I received a letter on thursday evening stating that my checking account will be closed ! for no obvious reason. I can't imagine how could you close my account without one week notice at least, and how would you close my checking account and leave my credit account open?

I went to the Kensington office to try to know what is going on but nobody was able to know either, and they said we would call you by monday.
Now I'm getting returned checks, and my salary was sent already on friday and I'm waiting for you to send it back to my employer. I'm very dissatisfied with HSBC and I'll close my credit account as well.
I would ask you to take back your checks and give me a refund, pay all my utility return checks fees, and finally transfer my salary to me in any way you like. I advised new residents to use HSBC but now I think M&T is much better, they gave me 150 USD for opening the account, they're so helpful and clear.
I'll write my experience on depositaccounts.com, bankreviews.org, mybanktracker.com, local.com and other review sites so that people would know your games.

Probably Leaving After 10+ Years
- DG - Thursday, December 30, 2010 - 8:49 AM

I have had an HSBC acount for over 10 years.  I have laways had goodluck and their On-Line Savings account use to rock!  Still a decent deal at 1% interest with no Minmimum Balance for the On-Line savings account.  But over all they have gone down hill nad are really jacking their fees up.

 

So Long HSBC.....

 

Hello?  Well, why do you think I am on Depositaccounts.com

 

What Happened To These Guys?
- theteach - Sunday, July 11, 2010 - 7:40 PM

I know things turned sour overseas with the Euro, but what happened with these guys? They were on the forefront of offering great yields, and then all of a sudden, their yields went into free-fall. The ACH transfers were always terrible with their savings accounts, since it took at least four days to transfer funds. It was very annoying that interest was lost on that money during the transfer period. Their customer was also suspect as it was outsourced overseas. All in all, not the best account and definitely not a great yield anymore.

Lou

Ridiculous Fees, Terrible Customer Service
- jlj20 - Tuesday, February 7, 2012 - 3:14 PM

I wish I could give them no stars.  Here are the problems I've had with HSBC:

While I was told no minimum balance was needed in my checking account, I was charged $8 per month as an inactivity fee.

Overdrafted 4 transactions totalling less than $20.  Recieved 4 overdraft fees, each for $35, for a grand total of $140.  After meeting with a representative at the bank, they refunded one fee, so I still owed $105 in overdraft fees for overdrafting less than $20.

Recieved a phone call from their fraud prevention line.  I had no way to confirm that the person on the line was HSBC, so I told them I would hand up and call the number on the back of my card.  The person I got told me there were no problems with my card, and the phone call must have been fake.  Turns out, it wasn't - my card number had been compromised online.  How can they not have this internal communication down?

I have yet to call customer service and not wait at least 15 minutes for a representative, and even up to 40 minutes.  When being helped, they will often put you on hold to check something with your account, and often for up to 5 minutes in the middle of helping you.  Terrible customer service.

I am now banking with ING Direct, and I am a much happier customer.

Deceptive Practices
- fagaga - Thursday, September 8, 2011 - 5:47 PM

I was involved w/HSBC thru Costco but no more. Ive had customer service reps just hang up on me and whats more the balance they show on thier bill does not cover the entire billing period so there's always a previous balance and they just nickle and dime youto death with thier fees and thier customer service people are no help when trying to get an explanation. There's more but forget it.HSBC...never again for me. Good bye forever!

Under Standard Customer Services
- bayleehann - Tuesday, November 1, 2011 - 7:38 AM

If  you are thinking about doing any business with HSBC, "DO NOT", "DO NOT", "DO NOT".

My long story short is I haved tried to bank to bank transfer to another bank. They froze my savings account saying that My last name is different (I got married). I'm ok with that security. But it went down hill when I call 800-975-4722 on 10/21/11. C/services 3way conference call with my another bank to verify it's me. Its verified. She said it will take a few hours to take effect. She said she will call me next day to confirm. Nothing Happend niether error fixed nor call.

The next 4 phone calls, I got asked the same questions, say the almost the same thing, I refered back to the reference person every time ( I always ask who am I speaking too and write down their ID). It was the loop. The last person said in order for him to fix the error, he has to call my another bank to verify. I told him that the first person did. He insisted the same thing.

Today is 11/01, I still don't get that money for me to pay my major credit card bill.

I HAD IT. I'm closing my both accounts  and take my business elsewhere that has better customer services.

PS. the last guy said he will request closing the accounts for me and it will take 24-48 hours to effect. Guess what...He didn't even know what he's doing. HSBC wants the request in writing.