I purchased a washer through Best Buy and they financed the item with HSBC with 18months no interest. My credit score has not changed and is probably better than a year ago. I just received a letter stating that I need to pay off the balance by December 13th, or they will charge interest @22%, and I will owe the interest that would have been charged had I not had the loan under 18 months same as cash. I have the money to pay off the loan, however, what would have happened had I not had the monies? The banking regulators are right in stating that the card companies are changing the rules right now in order to get some advantage before the April 2010 deadline when they will be more stringently managed by the government.

This company collects for HSBC they sued me for 601.00 got a judgment and put a lien on my home. Now, 3 yrs later out of nowhere they start garnishing my wages 25%, no correspondance was not given an option to make payment arrangements. And, I lost my home in forclosure in april of 07 to AIG. I called this company to speak with them about the garnishment and try to work something else out they were very rude and unwilling to do anything but take as much of my money as they can.

Please boycott all cardit cards from HSBC India. They are the most unprofessional lot when it comes to customer privacy I reveoved unnecessary marleting calls from them even after registering for" do not call" as well as getting assurance from their call centre twice that there won't be any further calls from the bank.

Another issue is the lack of ethics and trust they show in their customers, They always promise call backs from seniors but they never call.

See my complaint below. Any emails to their head- Rajneesh Bahl have heeded no responses. I guess they are just sitting on customer issues all the time.


As per Clause "Protection of consumer right" clause of credit card operations:

"The bank / NBFC shall be liable to compensate the complainant for the loss of his time, expenses, financial loss as well as for the harassment and mental anguish suffered by him for the fault of the bank and where the grievance has not been redressed in time."

I hereby seek compensation from HSBC for the loss of my time, telephone expenses, financial loss as well as for the harassment and mental anguish suffered for the fault of the bank and where the grievance has not been redressed in time.

I hereby also seek compenation for the breakage of trust by the bank since many committments were not kept to call me back for resolving my complaint.

Finally, I need a personal verbal and written apology from "HSBC Head of India".

Back in July extended by cell Phone through Tracfone for a month through lifeline value plan, come August the charge to my card shows up by which of course I never made any charges to Airtel. Airtelcallhome not Tracfone, Immediately dispute the charge as I had already cancelled it but I had two charges on the bill 1 for $5.30 another $212.00 comes Sept bank and GM credit card Co. reversed the charges. think that was the end of it, no way comes Nov. to my surprise whats on my credit card the charge of $212.00 which they now say I made so I disputed that charge again since then and fighting with them over it and going to consumer protection they called me 12/27 and said that the charge sticks so I'm going to keep up writing reports till something gives. do not get a GM flex card...

The economy is really bad, and it seems that banks are robbing consumers’ money whenever possible. I would like to share with you my personal story, hoping that you can make the public aware of this issue. I have a checking account in HSBC France and in HSBC US respectively. I made a wire transfer of 7500 euros from France to the US last Friday (March 13 2009), and the money arrived on March 18, with only 9477.75 dollars (I sent the money in euro, so the change was made in the US). However, Wednesday’s market rate was 1 euro=1.35 dollars. So normally I should have had around 10125 dollars (that’s what they told me on Wednesday, saying that they would contact their wire transfer team to know why there is a short of 600 dollars). They called me yesterday, giving me another answer: the amount in dollars was calculated according to the date where wire transfer was initiated, i.e. Monday. However, Monday’s market rate was 1 euro=1.29 dollars, so even according to Monday’s rate, I should still have had 9675 dollars, rather than 9477.75 dollars. They said then that they have their own rate (which was 1:1, 23 on Monday), and don’t refer to the market rate. However, there is no way for us to check their rate on line. Besides, on their website, in the section “foreign exchange”, they put “FX calculator”, which is the market rate. But when clients really make a wire transfer, they give us another rate, which is not available on line, and we have no access to it. I check the market rate every day, and 1 euro:1.23 dollar is unheard of!

The rate is so opaque and they can give us any rate they want during wire transfer processes. HSBC is the world’s largest bank group, and it’s hard to believe that they are so opaque when dealing with wire transfers. My impression is that they are making money in giving bad rate (which is not available on line) to customers.

I am sure that I am not the only victim of wire transfer conflicts. When I search on Google, it proves that there are lots of complaints alike. I think that a report on wire transfer issue would draw public’s attention on this, and there would be something to discover: money is tight in banks currently, and they try to make money whenever possible.