Tuesday, August 21, 2012 - 5:38 PMHSBC
Email I received today:
"The following account fees will change as of September 23, 2012:
Funds Transfer-In, per incoming transfer - $12 each (the transfer of funds from another person's account, or another financial institution to your HSBC account)."
This is so absurd that I can only conclude they absolutely do not want any more deposits.
7 posts since
Aug 20, 2010
Rep Points: 110
1. Tuesday, August 21, 2012 - 6:06 PM
I just called HSBC (800.975.4722) about this new fee. According to the CSR, this email was misworded. The new $12 fee only applies to wire transfers in. The ACH bank-to-bank transfers will remain free.
Nevertheless, with an online savings account rate of only 0.40%, that also shows they don't want our deposits.
5,473 posts since
Nov 29, 2009
Rep Points: 125,800
2. Tuesday, August 21, 2012 - 8:25 PM
Usually a financial institution will only charge a fee for an outgoing wire transfer. It's indeed rare to charge for an incoming wire transfer of funds. You are probably correct Ken, HSBC is discouraging additional deposits, like many banks these days.
2,700 posts since
Apr 6, 2010
Rep Points: 14,636
3. Monday, November 26, 2012 - 4:33 PM
In 2005 I paid off my auto loan with HSBC. Recently I needed to get a duplicate title. NEVER received one then but not a big deal. Now I needed to add a name to title and was informed by DMV a lien WAS STILL listed this is 2012! After a complete run around of numerous numbers that were not in service or to other companies... Finally speak to human at HSBC, of course was transferred. The next person I spoke with took the vin number and PROMPTLY transferred me again! This was to a completely different company they contract with - MY TITLE SUPPORT . com. Confused as to what was going on after she informed me of a $30.00 fee - she explained they are not HSBC and I would need to pay fee IF I wanted Lien release letter!!! HSBC is a RIP OFF - I should not pay any fee for the neglect of business they should have done YEARS AGO!!!
It is necessary to be pretty careful with bank matters. See other examples http://www.****edconsumer.com/consumer-reviews/banks.html
2 posts since
Nov 26, 2012
Rep Points: 4
4. Wednesday, November 28, 2012 - 9:36 AM
Actually most of the big banks (Chase, Suntrust, Wells Fargo, etc.) DO charge for incoming wires. Suntrust charges $20 for it. The small banks where I have accounts generally do not, although surprisingly one small credit union charges $10. I don't think it is accurate to call an incoming wire fee "rare".
2 posts since
Nov 28, 2012
Rep Points: 5