HSBC Watch News Release Forum Index
Forum Name: - HSBC Fees
Topic Title: HSBC Late Payment Scam Continues Unabated
Thu Apr 06, 2006 7:02 pm
M.R. in NEw Jersey asks: "I found your website after atttempting to search for "Retail Services" to hopefully find a way to access online payments. My husband purchased a motorcycle from Suzuki last year and I have had approximately 3 problems with this company already. I send the bills to an office located in Maryland. I live in New Jersey and am well aware that it does not take very long for a payment to go from here to there. I mail out the motorcycle payment approx. 12 days before it is due and on 3 separate occassions have noticed that the payment did not post to his account until almost 20 or more days later! And to top it off Retail Services added a $35.00 late fee to his account. I was furious and had my husband call them. The last episode was just this past month so I do not know if the charge had been reversed but that is what they told us they would do.
Retail Services said that they post payments as soon as they are received...I do not believe this for a minute. In no way does it take 3 weeks by mail to go from New Jersey to Maryland, maybe a week at the most and that is stretching it. I am wondering if Retail Services purposefully posts payments late to accounts in order to charge late fees, it seems like this is what has happened to us. I hope this information helps others in their quest for reimbursements that they may be owed. I am going to switch this account to my personal credit card as soon as I can, since my interest rate on this card is much lower anyway."
Editor's Note: Retail Services has done this since 1994 and continues this practice unabated. Some people report immediate payment processing if mail is sent with delivery confirmation. You are right -- HSBC is lying to you and it does not take 3 weeks to 'post payments as soon as they are received'. Contact your state attorney general, the FTC and the OCC immediately if this happens to you.
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