Household HSBC Watch

Mumbai, June 27, 2005 - HSBC, under its CSR initiative, is training their employees to be ‘green’ (environment-friendly), and has earmarked a $50 million spend over a five-year period to help communities across the globe protect the environment. HSBC India’s senior vice-president and head-SME, commercial banking, Royston Braganza, said, “Our initiative, investing in nature, includes three programmes within its fold—earth watch, fresh water projects in rivers such as Yangtse, Rio Grande and Amazon in China and the US and a project with the Botanic Gardens Conservation International (BGCI).”

Meanwhile in the United States customers “would be satisfied with a CSR initiative at the former Household International, whereby CSR’s that gave customers a polite answer two times in a row” said Household - HSBC Watch. The group cited a report received within the hour:

“When I contacted HSBC to find out why I had been charged the financing fees, they advised that they do not have a grace period and their online service takes one full day to post. When I started to ask another question, their representative reprimanded me and advised me that “he had let me ask my question, now I should be quiet and let him finish talking.” I replied that it wasn’t necessary and requested that he close my account immediately. Their customer service is as bad as their financing fees.”