HSBC Watch News Release Forum Index
Forum Name: - Best Buy
Topic Title: Important - How Pay Online is Probably Structured
Fri May 06, 2005 2:47 pm
This is simple. Last year, I had to be out of town for the better part of 8 months, so I went to Best Buys' site, which is affiliated with HSBC. I wanted to have my payments auto debited each month so they would be ontime. I also elected to pay 3 times the minimum payment. When I went to enter in the payment day, the site said I had to enter in 2 days later than the due date. I figured they knew what they were doing, and so I entered in that payment date for 8 months, knowing I would not have to worry about it.
When I finally returned and had a chance to go through my statements, I found that they had shown me as being 2 days late for every payment, and no less than $50.00 out of $100.00 each month going to assessment fees. Also, there were no late notices. I could not contact anyone by phone or email...how convenient for these folks. So, just for an experiment, I paid late by mail, and all of the sudden, HSBC has a late notice. I believe that they purposely have the entire payment online process set up for failure with no way to email of call to fix the problem. When I did call, I consistently had a busy signal or it just hung up when transferred. I don't know if you can help, but I hope this can help someone else.
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.