HSBC Horror Stories

NB IN Washington said: “I have multiple sclerosis and get my disability check on the third of each month. All along I have been told by HSBC “no problem, we will fix it”, but have received late charges every month. I have had my friends call and they both were told […]

MS in Nevada said: “Out of fear that my deposits were not insured I opened an online account with HSBC and funded it with tens of thousands of dollars. I never received promised username and password to get into their online banking site — still don’t have them after more than six weeks. […]

This was received from New York state and is the opinion of the person who submitted it, who shall remain anonymous: “D9 abuses from a former Presidents Council employee.
1. Stated income equals FAKE income. An unfortunate truth was that 90% of all loans written using this partial stated income program was false. Daniel […]

RG in Arizona said: “Do not use HSBC for mortgages or refinancing unless you love to go through hell and lose money. I have investigations ongoing from state and federal agencies along with the better business bureau into the business practices of HSBC Bank, Mortgage Division. The complaint concerns two issues:
1.) Deceptively assuring customers […]

MJ in Washington says: “HSBC Finance (Beneficial/Household Finance) is the most unethical lender I have ever seen. I worked for them for 1 1/2 years and couldn’t leave soon enough. In Washington state they charge 5% origination fees (the state limit) up to $12,500 on 1st mortgages, and 25% on all personal loans, regardless […]

This report came from New York:
“I resigned today as a Senior Account Executive for Household in NY State. As SAE’s we are non-exempt employees, legally entitled to receive overtime pay when we work past 40 hours per week. However, virtually all AE’s in my district have been coerced into working “free” overtime. Pressure […]

JF in Pennsylvania sent this report, which we publish in both of our blogs: “How household Financial gets their mortgage customers and makes money? As you probably already know HFC/Beneficial send out live checks in the mail to thousands across the USA monthly. These range from anywhere from 5k, 7k, 10k. They are at […]

PD in Wisconsin reports: “Beneficial / HSBC Finance Corp., is a major player in the credit industry and provider of predatory loans such as live-check loans which are mailed, unsolicited, to customers with bad credit. The customer, simply by cashing it, takes out a poorly advised loan at an outrageous rate. I […]