lois sent a message to Stuart Gulliver Group CEO, HSBC Holdings PLC – email address that said:
I realize that you are the wrong person but I would appreciate it if you would send this to the right executive at HSBC USA, NA.
Possible FRAUD in HSBC Promotion Offer and failure to Provide Adequate Disclosure and Stop Negligent or possibly Intentional Unfair Consumer Practices by HSBC.
I opened an account at the HSBC Branch at 1340 Third Avenue , New York, NY 10075 because I am out of the country for months of the year since my retirement and I had noticed the significant HSBC presence abroad. The $350 Promotion Offer provided additional incentive. Instead of what I hoped would be an increasing relationship allowing me to easily handle my finances— this has been Hell and an enormous waste of time. I am glad that I did NOT made the 5 or 6 figure deposit I intended at the start and that I have not left New York City. In fact, although it has been more than 2 weeks since I made my deposit, only by last Friday did I finally even receive the information that would let me do anything —and , even now, still have not received my temporary Pin Number.
The Branch admits the problems and Pattern and Practices but claims it is a result of "old Technology" throughout HSBC and stupidity rather than Wrongful Intent. HSBC promoted the Promotion Offer for $350 bonus if deposit and "Bill PAY" . But HSBC so called "bill pay" is IMPROPER and possibly ILLEGAL. As part of qualifying for the $350 Promotion, I signed up to “bill pay. ” The process of signing up online and signing up for “bill pay” in themselves are still another story of HSBC errors, mistakes and poor technology— but my complaint right now deals with what bill pay does not do and what it improperly ( possibly Illegally ) does. Instead of automatic transfers like most banks, HSBC misleadingly does NOT make automatic transfers but instead , sooner or later, MAILS a check to the Payee. This happens not just if the Payee is individual but with big Payees like, Time Warner, Spectrum , Bloomingdales- every company I tried. A rep at the branch “joked” that the only entity she found for which the transfer was automatic was if paying paying HSBC Credit Card. These absurd and unusual limitations were NOT DISCLOSED by HSBC!!
But the Problem is WORSE! Despite the long delay of HSBC in sending a check and the mail and cashing delay, HSBC IMMEDIATELY deducts the amount from the Customer account. Again, there is NO Disclosure of this Unusual and possibly ILLEGAL Practice. Who knows how long the check will take-- and in view of the numerous errors made by HSBC in a short time on my account, I have serious doubts whether HSBC will actually send the check and whether it will do so in time to avoid late charges( Still another problem). In the meantime HSBC has (arguable "stole") my money.
PLUS— In view of this and other issues, the HSBC Promotion is Defective and possibly a Fraud! HSBC intentionally or negligently set up its systems making it hard to “bill pay” plus it made it hard for assure that payments arrive in time or even to assure that payment is made at all.
This antiquated system or systemic improper Practices and Procedures is a Disaster. I am almost 70 years old yet I have now have now made 2 visits to the Branch ( today in pouring rain), called customer service and wasted hours trying to set up an account in a system that the HSBC Representatives acknowledge is out of date, absurd and defective.
I and all others who intended to qualify for the $350 Promotion offer should be immediately "awarded" the $350-- HSBC should NOT benefit from its incompetence or wrongdoing. Also I should be compensated not less than $5000 for the time and extreme stress caused by HSBC negligent or intentional wrongdoing. And maybe HSBC should improve its technology so it is not in the last century