HSBC Horror Stories

DW in Missouri said: “I am in the process of closing on a home that I have sold. I was informed over 2 weeks ago that there was deed of release needed by HFC, so I contacted them to request the information. I spoke to 10 different people from the same area who have told me everything from that they were sending information to the Title Compsny and that I owed money. Most of the people agreed that there was no balance, however only one said that there is a balance due from 1994.

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SE in Georgia said: “HSBC Retail Services took an additional $800.80 out of my bank account after I had closed out my HSBC account. Customer service stated that “it makes sense” and “that’s policy”. Now they are charging me a returned check fee, finance charge, and phone payment charge because I disputed their actions to have the money placed back in my account. This has happened twice now.”

RW in Tennessee said: “I moved to Tenn about 6 months ago and have been 1 month back on payments I requested and extension in May 2008 and was denied. HSBC wouldn’t say why since then I have received at least and not less than 10 calls a day and I have answered everyone when the person finally comes on they don’t identify who they are or who they are with. I told them payment date which was only out 2 weeks and payment would be made. I even included $50.00 extra to pay off past due amount of $265.00. But HSBC continues to call everyday including sunday. Starting at 8 am and continue until 10 pm. today I have received 16 calls and it is only 3 pm.”

KK in Minnesota said: “I signed up for Account Secure Plus when a I got an HSBC credit card about 2 years ago. They charged me $6.93 a month. It was supposed to make my credit card payments if I ever lost my job for various reasons. I was laid off in April and quailified for unemployment. They have yet to make a payment. I have submitted all the documentation they want in some cases twice and all get is the run around. In the meantime HSBC is charging me late charges at an astounding rate. It turns out HSBC owns the BFC Insurance Agency of Nevada. Which incidently isn’t in Nevada, but Bridgewater, NJ 08807.”

SS in Maryland said: “2005 — Husband had heart attack in May, June I was in a bad car accident leaving me with spine damage, so we had to refi and didn’t really understand what was going on, this was with Decision One/HSBC. I was given a loan for $389,000.00 and $312,000.00 was interest only at 6.89% and $78,000.00 was principal and interest for 10.99%, with a pre-payment penalty on the $312,000.00 for $15,000.00. The pre-payment drops Oct.26,2008, but Countrywide bought the first $312,000.00 and Select Profolio bought the $78,000.00.

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DM in New York said: “HSBC changed the date on when my payment was due. I used auto billpay from my bank. When “late” they accessed $777 in fees and interest within six weeks. Call me — I am a reporter and writing about this.”

RS in Massachusettes said: “HSBC has an web site (https://www.accountcentralonline.com/cmuser/login/show.do) where you can pay your bill, view your statements and get reports of your past statements that show the total spending by each statement (with a bar graph visual), as well listing the detailed purchases. On June 26, 2008, I utilized the “Total Spending By Statement” feature and looked back over the year at my spending. During this process, I noticed that I had a huge increase in spending on a particular statement so I viewed it more carefully.

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AC in Arizona said: “A wedding dress was paid for through David’s Bridal in Missouri for about $1000. About $200 payments were made for a few months until I started missing a few payments. Around June, my husband and I realized we still had this account open and paid it off in full. The interest rate was about 27% before payments were missed and who knows how much it skyrocketed to — there was no way to check its current status. The account still shows up on my credit report as an open account, but it is being investigated. My best advice is when they are paid off to call and specifically ask them to close out the account because HSBC could still charge hidden fees when you think you have it all paid off.”

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