Date Received: 2020-06-05
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: I opened a credit card with HSBC Bank a long time ago. As such, I kept receiving promotional emails from them from time to time. One of the emails stated there was a bonus of {$470.00} for their HSBC Premier checking account. I was intrigued since I had been looking at banking with a global bank for a while. The offer stated I had to deposit a minimum of {$5000.00} for 3 consecutive months, and the bonus would be deposited after. I started the application process which took them 3 weeks, believe it or not, in this day an age. As soon as my account was opened, I went to my job 's HR and made the necessary changes to have around $ 6-7,000 per month deposited directly to my account. This started in late XXXX. So the bank has seen my deposits in late XXXX, XXXX, XXXX, XXXX, XXXX, and we're in XXXX. The bank keeps giving me runaround and nobody knows anything. Customer service number is an overseas call center, and they state they don't handle promotions. Direct messaging within the app states the same. So basically this bank engages in bait and switch tactics. At least I'm glad I realized this early how terrible they are. However, what they are doing is ilegal and must be stopped. I want the Consumer Financial Protection Bureau to publish this so others can be warned.
Company Response:
State: FL
Zip: 33185
Submitted Via: Web
Date Sent: 2020-06-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-04
Issue: Opening an account
Subissue: Didn't receive terms that were advertised
Consumer Complaint: I have opened a checking account in HSBC last year. According to the promotion, I should receive {$750.00} bonus as long as I make monthly direct deposits totaling at least {$5000.00} for 3 consecutive calendar months from the second calendar month after account opening. I have completed the requirement, but I haven't received any bonus. I contacted HSBC dozens of times through phone call or online chat. One of the representatives confirmed that I had completed all requirement and he helped to create an investigation case ( case number : XXXX ). But whenever I contact HSBC, they either told me no update on my case or gave me some ridiculous reason like I'm a trust customer which is not required for the offer, but I never have a trust account. I know since we're in a pandemic, progress could be slow. However, this issue has been lasting for over 6 months. I should receive the bonus even before the pandemic happened in the first place. I don't think I can receive this bonus after wasting so much time to deal with them. I transferred over XXXX XXXX asset to HSBC but I still don't get the respect. I feel this is a scam.
Company Response:
State: CA
Zip: 94303
Submitted Via: Web
Date Sent: 2020-06-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XX/XX/XXXX To the Manager Consumer Assistance Unit, Real Estate finance XXXX Dept of Financial services Dear Madam/Sir Sub ; Complaint against HSBC for imposing arbitrary charges on Home Equity. Loan Number : XXXX Sequel to earlier complaint case number : XXXX filed on XX/XX/XXXX Good day The salient points of my case are : An original agreement was signed with HSBC in XX/XX/XXXX. After many years of regular payment, there was a discontinuation of payments due to financial hardship. Subsequently a New modification was made in XX/XX/XXXX and a new amount of {$91000.00} as total payment was agreed on. An amount of {$14000.00} was added to the balance of {$76000.00} making the total of {$91000.00}, and I was asked to pay {$510.00} each month which I have been doing without any delayed payment without interruption. However eleven months later in XX/XX/XXXX, HSBC slapped in new charges, arbitrarily, of {$6700.00} and declared that it was to cover Attorney fees and other charges ( see letter attached from HSBC ). I OBJECT to the imposition of these additional charges of {$6700.00}. Example in a letter sent by HSBC on XX/XX/XXXX, in the Assessment charges it includes a levy of {$2300.00} as Servicing fees, This is ridiculous since the Servicing fee is paid by the Investor of the loan and I should have nothing to do with it. The modified agreement made in XX/XX/XXXX replaced the original Note of XX/XX/XXXX and the finalized balance payment amount of {$91000.00} holds validity. The agreement on XX/XX/XXXX clause XXXX explains that the additional sum of {$14000.00} was meant to cover Interest and other expenses. The modified agreement of XX/XX/XXXX includes all charges including reasonable attorney fees, as it is absolutely customary to include all legal fees in the arrears total. XXXX XXXX XXXX, the modification counsellor helping me, had forwarded my signed Qualified Written Request letter dated XX/XX/XXXX seeking account history since inception to find out all fees and assessments since origination. Please see attachment. This has not been provided. Arbitrary addition of charges opens up the possibility of HSBC having the right to impose charges at will and at any period of time during the duration of the agreement. This is illegal and unacceptable. I REQUEST your intervention and see that the slapped-up charges of {$6700.00} are removed and the balance of the agreed original amount, {$83.00}, XXXX be restored as the correct balance to be paid. ( See the latest HSBC statement ). I pray you are doing well and hopefully we will get out of the pandemic gloom and financial nightmare. I am a retiree and just celebrated my XXXX birthday. I am looking forward to an early resolution of the case so I can explore getting a refinancing done on a lower market rate. Thank you very much Sincerely XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX NY XXXX Attachments : a ) Loan agreement of XX/XX/XXXX b ) Modification agreement of XX/XX/XXXX c ) HSBC statement of XX/XX/XXXX showing balance of {$83000.00} PLUS the Assessment charge of {$6700.00} d ) My Qualified Written Request seeking account history since inception e ) Responses from HSBC.
Company Response:
State: NY
Zip: 11204
Submitted Via: Web
Date Sent: 2020-06-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-04
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Dear XXXX officers, I have a property originally financed by HSBC bank in XX/XX/XXXX and this loan was also modified in XX/XX/XXXX by the same bank. Recently, I refinanced my loan with XXXX XXXX XXXX in XX/XX/XXXX. There were two wrong charges posted to my account by HSBC. One for {$4000.00} and one for {$3700.00}. I was able to catch the first unjustified charge since it was stated in my monthly mortgage statement prior to my refinance in XX/XX/XXXX. However, the second charge of {$3700.00} was not revealed to me till exactly few days prior to my refinance closing date with XXXX XXXXXXXX XXXX in XX/XX/XXXX, under Recoverable Balance ( attachedXXXX XXXX XXXX XXXX XXXX Borrower Estimated Settlement Statement ). I must have closed the refinance, otherwise, I would lose the favorable refinance rate as well as advanced paid appraisal. HSBC stated that both charges are incurred due to my loan modification in XX/XX/XXXX! I explained and disclosed HSBC loan modification agreement as it clearly stated all unpaid amounts up to loan modification had been summed and included in my final modified loan amount ( attached- Loan Modification Agreement, No.1 highlighted in yellow. Based on my explanation evidenced by the modification agreement, HSBC removed its first duplicate charge of {$4000.00} ( attached- HSBC letter XX/XX/XXXX ). However, as soon as my loan was refinanced in XX/XX/XXXX, HSBC is not responding nor refunding its second unjustified charge of {$3700.00}. Since XX/XX/XXXX, I have actively pursued to resolve this issue amicably and directly with HSBC. However, it is inferred that not being their customer longer, I am not able to defend my rights further. Therefore, I kindly seek your assistance to investigate this unwarranted charge committed by HSBC as soon as practically possible for you. Thank you very much in advance and please let me know if any additional documents needed.
Company Response:
State: CA
Zip: 92691
Submitted Via: Web
Date Sent: 2020-06-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-01
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I initiated a bank to bank transfer of {$1000.00} dollars. Both banks in XXXX and linked and verified. When I transferred from XXXX to HSBC, the transfer is instant. I initiated a transfer on the XXXX from HSBC to my chase account. While it was very surprising that the funds will be available to me XX/XX/XXXX ( 5 days! ) ... the funds are not available and the transaction is still pending while the funds were taken from my account instantly. I rely on this money to pay bills and a simple transfer 6 days already in transit while I don't have the funds is simply unacceptable. I have bills due today and funds are somewhere ... ..feel nervous and cheated. I need HSBC to be liable for my late fees and interest while they simply illegally holding my funds. ( I check deposit would be instant as well ). At this days and time ... I find is to be illegal and unacceptable length of time. I'm starting to be nervous that they will steal my money.
Company Response:
State: NY
Zip: 10023
Submitted Via: Web
Date Sent: 2020-06-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-01
Issue: Written notification about debt
Subissue: Didn't receive notice of right to dispute
Consumer Complaint: My parents were contacted about a supposed legal action against me for a debt. I called the number they were given on XX/XX/XXXX which was XXXX and gave them the reference number of XXXX. I was told I owed a debt from HSBC and was being sued by another collection company. I have no evidence of the debt on either a credit report from XX/XX/XXXX or XXXX of XXXX. The collection company refused to tell me what the debt was for and claimed I was mailed a notice in XXXX of XXXX, which did not happen. I called on XX/XX/XXXX and asked for more company information and was told that they worked for XXXX who buys debt and uses XXXX to collect. I asked for a license number, which was refused. I was told this was from an HSBC credit card and I do not recall ever having a card from HSBC and have no record of one on my credit reports over the past 2 years. I asked to be forwarded to someone with a license number and was told this could not be done as this was not in litigation, which is not what I was told on XX/XX/XXXX. I asked for a validation notice to be mailed to me to show the debt originator and chain of custody and was told it would be mailed in 30 days. I said this was illegal and it was due in 5 days and was told there was nothing to be done. I asked about when the debt was purchased and was told there was no information. These people had my SSN, drivers license number and address. Other phone numbers I was given were XXXX & XXXX. I was told not to contact these two companies directly as well.
Company Response:
State: CA
Zip: 934XX
Submitted Via: Web
Date Sent: 2020-06-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-31
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: XXXX XXXX I called to see the status of my account closure. They said a check will be sent in 7-10 days but My account was closed over 3 weeks ago. I am still waiting for a check to come in the mail for about 90 dollars. I have spoken with customer service several times about closing my account previously because they froze my account without incident and closed it with claims of fraudulent activity. I need my money back from this account ASAP. The bank is HSBC.
Company Response:
State: UT
Zip: 84096
Submitted Via: Web
Date Sent: 2020-05-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-30
Issue: Other features, terms, or problems
Subissue: Problem with convenience check
Consumer Complaint: Received a " convenience check from HSBC BANK. Wrote the check to myself for {$2300.00} and deposited it in my credit union account at XXXX XXXX XXXX XXXX XXXX WA. state ) on XX/XX/2020. Money appeared in my account. On or about XX/XX/2020 received a letter from XXXX stating that the check was dishonored due to account ( HSBC Account which the check was drawn on ) being " Frozen/blocked ''. Money was taken out of my account in XXXX, the {$2300.00}. HSBC still says I owe them the {$2300.00} although that money was taken of of my account as the check was dishonored. I have called HSBC on four occasions with no real help in resolving the matter. I have written several letters to HSBC which were sent certified return receipt and have received no response. I keep paying the minimum payment in order to avoid HSBC reporting to credit agencies that I was not paying and thus having an adverse effect on my credit rating. I am so frustrated with HSBC. This is unconscionable.
Company Response:
State: WA
Zip: 98383
Submitted Via: Web
Date Sent: 2020-05-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-27
Issue: Fraud or scam
Subissue:
Consumer Complaint: I authorized a money transfer of {$5500.00} from my HSBC Premier checking account XXXX to the account of my relative in XXXX on XX/XX/18. This money was never sent, nor did it reappear in my checking account.
Company Response:
State: VA
Zip: 20169
Submitted Via: Web
Date Sent: 2020-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-27
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Our loan with HSBC recently closed with incorrect property tax withholding going into escrow. We repeatedly asked for corrective action, even noting the RESPA violation, but HSBC refused to correct. As such, we are filing this RESPA violation complaint. Per the XXXX XXXX Tax Assessors website, Owner occupied property is assessed at 10 % of its fair market value. The property appraised at {$650000.00}. 10 % of this is {$65000.00}. This fact is not in dispute The XXXX XXXX millage rate is XXXX. This is published on the XXXX XXXX Tax Assessors website. It was also acknowledged to be true by XXXX XXXX, per the title company, in her attached email dated XX/XX/XXXX. The millage rate of XXXX is agreed upon by both HSBC and myself. This fact is not in dispute. 10 months of property taxes were collected at closing. We agree that the collection of 10 months of taxes is reasonable. This fact is not in dispute. Given the three points above, expected taxes annually, without the homestead deduction are : $ XXXX {$6000.00}. For escrow purposes, this works out to $ XXXX {$500.00} per month. {$500.00} XXXX months = {$5000.00} to be collected at closing. Additionally, under RESPA, HSBC was permitted to collect XXXX of expected annual taxes as cushion. {$6000.00} projected annual tax XXXX XXXX = {$1000.00}. This cushion, plus 10 month of taxes equals {$6000.00} ( $ XXXX {$5000.00} ). Instead, {$9300.00} was collected at closing. This was a rate of {$930.00} per month vs the correct {$500.00} per month. This is a clear RESPA violation. In addition, HSBC collected this amount with malice. I raised these concerns on 5 different occasions, Please see attached emails as support. I even specifically noted the RESPA violation and asked that they correct, which they refused. 1. XX/XX/XXXX email to XXXX XXXX, XXXX XXXX and XXXX XXXX 2. XX/XX/XXXX email to XXXX XXXX 3. XX/XX/XXXX email to XXXX XXXX 4. XX/XX/XXXX during recorded phone conversation with XXXX at XXXX pm central time 5. XX/XX/XXXX email to XXXX XXXX Additionally, on XX/XX/XXXX I filed my Homestead Exemption with the XXXX XXXX Tax Assessor for the XXXX tax year. XXXX XXXX in that office confirmed that the XXXX taxes due in XXXX would be based on land alone, since construction on the home did not begin until XX/XX/XXXX. This means withholding at closing is even further inflated. Property value is estimated to be approximately {$48000.00}. This puts the taxes due in XXXX at approximately {$440.00} for the whole year ( $ XXXX {$440.00} ), of which {$370.00} should have been collected at closing. We are requesting an immediate refund of overcollection for escrow, plus interest. This totals {$9000.00} plus interest. We are requesting that our mortgage payments be adjusted to reflect a monthly property tax escrow withholding of {$37.00} per month instead of {$930.00} per month through XXXX of XXXX. We understand that next year we will pay taxes on the full market value, minus our homestead exemption, and expect the escrow will go up accordingly in XXXX. However, current estimated taxes due in XX/XX/XXXX, with the homestead exemption, are projected to be {$5400.00} ( $ XXXX {$6000.00} homestead exemption ) XXXX {$5400.00}. This equals a monthly property tax escrow payment of {$450.00}. We also ask that all fines that are permitted under the law be assessed against HSBC. The fact that we raised this concern 5 separate times over a one month period and they proceeded to ignore our concerns, clearly indicates a disregard for the real estate laws in place to protect consumers like myself.
Company Response:
State: AL
Zip: 35242
Submitted Via: Web
Date Sent: 2020-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A