HSBC — A Sincere Attitude Change to being Lethargic, Lazy and Cheat
Sometime back, I wrote about HSBC’s bad attitude towards RBI guidelines of issuing passbooks and their hidden charges about the FREE ATM Cards. You can check out the post here. For the past two months, I have been having unpleasant set of experiences with HSBC which I would like to share it over here for the benefit of other readers. Escalations upto nodalofficer.im@hsbc.co.in does not elicit a standard response. Every response takes upto one week and it again just imitates as a copy-paste of the canned response, which provides an emphasis for us that they haven’t bothered to care about our issues.
- Block and reissue of Credit Card: I had an unfortunate incident of having credit card damaged about two weeks back. When I called HSBC Contact Center to report this, the bank executive offered to block the card and reissue at the charge of INR 100. I asked her to hold back block/reissue so that I can discuss this the next day. But she vehemently went ahead and blocked the card. A day later, when I logged onto Online@HSBC, I found the card account missing and only when I called PhoneBanking, the card block action of the phone banking executive came to my knowledge. I asked about any reissue. Fortunately this time, I had a courteous phone banker who offered me to waive the reissuance charge and arrange delivery of the replacement card. I think the number of courteous and active people in HSBC can really be counted with fingers. Since, after one proactive action, when I hoped that the card would reach in a week’s time, it took a fortnight [3 times a week].
- High Value Cheque Clearing Melodrama: I had to deposit a High Value Cheque from one of a Nationalized Bank to the HSBC account. The deposit happened at 0945 AM on Monday morning. I was expecting a SMS alert of Uncleared Balance (“Credit on Clearance”) almost immidiately since the actual clearance itself was advised to be happening the same day and the funds would be available for clearance the same day night. But only on Tuesday afternoon, I got the cheque being sent out for clearance. And only on Thursday night, the cheque amount came to my account. I had three queries to HSBC through online@hsbc:
- Why was the delay in clearance of a high value cheque?
- What is the point of having a high value cheque cutoff time when it was slower than a MICR clearing?
- Would I be eligible for a interest payment for delayed clearance?
- For all queries 2.1 through 2.3, I was getting standard canned response that ‘You are sending a request through unsecured email. Please send your name, date of birth, mailing address’ to assist you further. Alternatively, use our secure message option’. However, when I send a message through online@hsbc, it takes a fortnight for them to respond. I really want to know why does HSBC need all those crappy lengthy details like date of birth, address etc for a simple stupid query. Are they running a matrimonial bureau and are they going to cast my horoscope, do some bridal matches and arrange my marriage?
- When I escalate each time through PhoneBanking, the guys just put on hold and vanish into the wild.
- When I brought this to the attention of Nodal Officer, Chennai, about ten days later, some called me and asked for more details. She told she wants to check with branch and call me two working days later. And I was getting the response that the nationalized bank (“Canara Bank”) branch did not participate in the high value clearing and hence it was routed through MICR. But my Canara Branch, when I checked with them, denies this allegation outright and baseless. I just wanted to share with you about some of the mean attitude of HSBC staff just to shift blame onto others and wash-off their moral responsibilities.
In Today’s Dinamalar, there is a coverage of the article about delayed cheque clearances should be credited with a Fixed Deposit equivalent interest. I have again written to HSBC on this front. Let me share with you the message I get from.
July 20, 2008 at 12:14 pm
[...] Boycott Novell wrote an interesting post today onHere’s a quick excerpt HSBC — A Sincere Attitude Change to being Lethargic, Lazy and Cheat Sometime back, I wrote about HSBC’s bad attitude towards RBI guidelines of issuing passbooks and their hidden charges about the FREE ATM Cards. You can check out the post here. For the past two months, I have been having unpleasant set of experiences with HSBC which I would like to share it over here for the benefit of other readers. Escalations upto nodalofficer.im@hsbc.co.in does not elicit a standard response. Every respon [...]
September 19, 2008 at 1:31 pm
NEW DELHI, the capital of India, was recently gripped by fear from the Biker’s gang. The dreaded gang used to shoot dead anyone who refused to part with his belongings. After intense public pressure, the police arrested some criminals who were residing in a village in the outskirts, posing as a bank’s recovery agents.
The business of ’recovery agency’ is absolutely under the control of the dreaded mafia in Delhi. The first person who applies for the liscence is generally a person with no criminal background. But the real operations are conducted by criminals. They barge into customers house, beat their family and take away valuables in broad daylight. The banks provide them legal support and this is far too easy a method to earn quick bucks. There are hundreds of recovery agencies in Delhi and banks use them rotationally. Many people have been killed by these goons and despite public outcry, they function with impunity.
The banks support these goons and there are dozens of lawyers on bank’s panel to secure their bail, exploiting the loophole in the system. The Reserve Bank of India (RBI), the Banking Regulatory Authority of India and the Apex Court of India have been warning these banks and have fined various banks for such barbaric practices, but these banks are law unto themselves. These are mostly private banks and they have little regard for any ethics and they fear none, absolutely. HongKong (HSBC India) is the prime example of perverse banking and employs these criminals to brutally assault its customers. Can HSBC indulge in this kind of barbaric practice in Europe or America?
Reserve Bank has stipulated some stringent rules regarding recovery agency but these are not followed. Bankers call these criminal acts as their “persuasive tactics”. Very few can stand up against the might of these banks so these banks are not ready to listen to even the Supreme Court of India. The situation has worsened so far that the Court has directed the police to lodge complaints against the chief executive officer (CEO) of the concerned bank, whose agent is found in this criminal act.
The court had to give this verdict after thousands of farmers committed suicide in the Vidarbha region of India. Most of these were poor farmers and had taken loan from various agencies. Unfortunately, the crop failed and in order to save themselves from the humiliation, there was dozens of suicides everyday. The situation became so grim that the Central government had to step in with a special package for these hapless victims.
These were subsequently turned into a massive Central scheme and the government waived off more than 15 billion dollars of farmers loan.
But the people living in cities are not so fortunate. Here, these criminals are protected by banks top executives.A few days ago, a police case was filed against HSBC India and its CEO. According to the police, a person named in that First Information Report (FIR) is wanted for various heinous crimes.
The menace is only growing and unless the CEO of the concerned banks are made accountable for these criminal acts and are arrested and put behind bars, they won’t stop these barbaric practices. Wearing a tie and suit and speaking English with an accent does not make them civilized. They will have to behave like civilized people and shun their barbaric impulses. They must be told that they cannot take law in their hands, directly or clandestinely without the prior permission of authorities.
October 28, 2008 at 9:20 am
I also had a similar experience with HSBC. When I complained regarding the delay in getting the funds the same melodrama they play. The first guy would come and ask regarding the details of the cheque amount etc. After few days when you dont get a reply you againn sent a reminder. This time another guy would come up asking for the same details. Thsi goes on for months. They make use of the fact that you can not approach the banking ombudsman unless there is a substantial delay. If any one is aware of the guidelines by RBI regarding high value clearing if any, please send the details.
December 27, 2008 at 8:16 am
HSBC affected with Amnesia
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Of late, I had another (bad) experience to share with HSBC. I went to branch to preclose a term deposit held with them. The branch staff took up a request and told 3 days. Parallely, she started to ask me whether I can take some personal finance guidance. I was telling that after three days.
After three days she gave me a call to ask whether she can send the agent. Till that point of time, the FD was not closed. When I reminded her duty, now she has become very quiet.
This again proves beyond any speculations or doubt that HSBC just wants to fleece us and rob us of our hard-earned money but when it comes to repaying us, they just forget it. Is this a one-sided amnesia?
January 23, 2009 at 12:15 pm
[...] Delaying the normal service by lame excuses. When the issue crops up again, put a new excuse and a novel schedule for the same old task and repeat the same process. HSBC India is the finest example for this ploy. [...]