HSBC Watch News Release Forum Index
Forum Name: - HSBC Finance Corporation
Topic Title: MBNA and the HSBC Billing Scam
Wed May 18, 2005 7:05 am
I am writing to dispute charges arising from a promotional credit transaction with SuperStores of America and HSBC Retail Services. A one-year "Same as Cash" charge of $4,089.67 was initiated with MOR Furniture on 12/07/2003, with a promotional expiration date of 01/12/2005.
On Thursday, 01/06/2005, I executed a balance VISA transfer for $4,089.67 from MBNA Bank to HSBC Retail Services. MBNA mailed the payment to HSBC on Friday, 01/07/2005 (I have a formal letter from MBNA documenting the date of the transaction). On Wednesday, 01/12/2005, I contacted HSBC Customer Service by phone to see if the payment had been received. I was told it had not. As a courtesy, the Customer Service Rep said he would extend the due date an extra five days, to 01/17/2005, to allow for processing. Since I had confirmed with MBNA Customer Service that payment had indeed gone out on the 7th, I assumed that 10 days would be ample time for HSBC to receive and process my payment in full (intrestingly all statements from HSBC recommend a mail date 9 days prior to any due date). I formally closed my account with HSBC / SuperStores of America since no further purchases were expected to be made and payment for the outstanding balance had been made in full.
Upon contacting HSBC Customer Service on or around 01/25/2005 to confirm the account had been closed, I was told that my payment was not processed until 01/20/2005 and that I owed over $1234.00 in interest charges. The Custoemr Service Rep was quite rude and demanded to know if I'd be paying the "new" outstanding balance today with a telephone payment, or else the credit bureaus woould be notified of non-payment and my credit rating would be seriously affected. Once again I contacted MBNA Customer Service to go over the sequence of dates on my balance transfer request. They confirmed my earlier conversation with them on 01/06/2005 to initiate the transfer and the mailing of the payment to HSBC on the following day, 01/07/2005. I was also told by MBNA that they never received confirmation back from HSBC until 01/24/2005 (17 days later). I further explained my situation and asked if it was normal to take that long to receive and process a balance transfer...they said "absolutely not." They said I had every right to dispute/refuse payment of any additional charges and would be happy to send a letter describing how I had transacted with them to make payment in full to HSBC in a timely manner. Also, MBNA strongly recommended I contact the Better Business Bureau (which I am now in the process of doing, since HSBC has shown no interest in listening to working with me on this issue. I had sent a letter to HSBC Collection Department disputing their "new balance" claim. In their response, dated April 21, 2005 (which I did not receive until 05/02/2005...they regretted to inform me they were unable to comply with my request. Currently, I still receive two telephone calls a day from HSBC demanding payment for these bogus charges.
I acted in good faith through my bank to pay an outstanding balance in full in a timely fashion. I refuse to be bullied into paying for inept bill processing practices.
HSBC Watch News Release Forum Index - HSBC Finance Corporation
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