HSBC = HaraSsment Banking Corporation

Though I was pretty impressed by HSBC, the way it treats its customers, but events in the past few months have left a bad taste in my mouth and hence I have canceled my credit card with the bank!

The issue started way back in Sept/ Oct 2009 when I received my credit card statement and had to pay up by Oct 3. I dropped in the cheque by 28/ 29 Sept in one of the ATMs. Also, I dropped a cheque for credit card of another bank on the same day. The cheque of the latter got cleared on Oct 4 but strangely HSBC did not encash the cheque. I received a call from HSBC on Oct 4 informing me about the same. I told them that cheque is already dropped and they should receive the money anytime now. Nevertheless, the cheque got cleared the next day and everything was fine (atleast I thought so...)

The drama was awaiting me in the next month's statement. I was slapped late payment charges and finance charges and some interest charges on the amount, which were coming out to be a total over some 6000 INR. I immediately called up the helpline and told them the issue that the delay was from their side and I had dropped the cheque on time. But the executive told me that he was helpless in reversing the charges. I demanded to speak to the manager who was RUDE to say the least. I told them to cancel my card with immediate effect and told them clearly that I will pay whatever I have used my card for and no way I was going to pay for the inefficiency of the bank!

After this, I stopped receiving any communication from the bank and more importantly, I was not receiving any e-statements. As I was away from home, e-statement were only way to communicate with me.

In Feb 2010, I started getting calls from the bank informing me that there is an outstanding on my card. On repeated inquiry, I gathered that the fine so levied in Oct statement were going into the non-payment mode and further interest, finance and non-payment fines were getting levied. I made it very clear to person over the phone that no way I am responsible for it and I am not going to make the payment. These phone calls were coming on a daily basis and daily same conversation was taking place. Since, I was not budging from my stand, I was advised to mail the bank on info@hsbc.co.in to deal with my issue.

I first mailed them in March giving the background and detailing about everything. Also, I demanded soft copies of the statements for the past 4-5 months and to my amazement I discovered that the bank had started levying charges for Reward Points Redemption! I had no problem in paying them but I was not informed about it. Well, as always HSBC was not ready to reverse a single penny but the correspondence continued and as a 'service gesture' they reversed non-payment fine for 3 months. My mails sent henceforth were getting replied in standard manner which pissed me off to the maximum and I was forced to write a strong mail which is below.

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I sincerely hope that my mail is read completely, thoroughly and is
first understood by HSBC. It seems that that no attention is being
paid to finer nuances here and hence again and again I am receiving
standard replies which are of no use.

I paid payment for Oct 2009 for what I had the used card for. It had
late payment charges and finance charges for prior month which are the
root cause of this dispute as I had dropped cheque on time, but bank
was late in encashing it! HSBC took a stance as if I dont know how to
make a payment and all and blatantly did not entertain any request
even though the fault is not mine. I DID NOT make the payment for late
charges and finance charges and hence the difference. If bank can do
simple additions, then one can easily conclude that I paid payment for
what I HAD USED MY CARD FOR, correct to the last paise.

Also, from where are these bonus redemption fee being levied!!!!! I
WAS NEVER INFORMED ABOUT SUCH A DEVELOPMENT. How do you expect me to
pay it! AND I REPEAT, I WAS NEVER EVER EVER INFORMED ABOUT THESE
CHARGES. I have redeemed bonus points many times in the past and I am
hearing this for the first time. Also, it seems that this charge was
levied in Dec 2009 statement which seems to have failed to reach me.
It would be great if a soft copy is sent (though I am supposed to
receive soft copy every month which I am not from time immemorial).

Kindly do not harp on reversal of some charges on the pretext of
'service gesture'. After doing a dis-service, then harassing the
customer and reversing a part of the amount is no good. Dont repeat
what I know. I have thanked for it already and will do it again now.
THANKS! But this is not solving the problem.

I am repeating myself here - Every paise for which my card was USED
has been paid back to the bank. All these outstanding amount is a
result of YOUR INEFFICIENCY beginning Sept/ Oct 2009. I am no way
going to pay these finance charges and whatever fancy names you want
to give them.

Please feel free to write to me if further clarifications are needed.

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After this mail, I was told to wait for 5 days and finally HSBC did reverse the whole amount :) After this, I also made the payment for Reward Point Redemption as end of the day it was a legitimate charge!

All said and done...HSBC has lost a customer!!!