Household HSBC Watch

According to the Guardian: “Couples who lost their wedding presents when online gift service Wrapit went into administration are planning to demonstrate outside the head office of HSBC this afternoon. The gift list firm closed on Monday after it failed to find a rescue deal, leaving up to 2,000 couples without presents that had been paid for by their wedding guests. In a letter to customers, Wrapit’s managing director, Peter Gelardi, blamed HSBC for withholding credit card and debit card income and claimed it would be cheaper for the bank to buy the outstanding gifts than to refund guests.” (see full story)

HSBC will find that up to 100,000 guests would cost the bank $8 million, but the cost of ill-will can be much greater. Here in the United States HSBC is the financing behind David’s Bridal - a merchant that decided to align themselves with HSBC. Unfortunately financing a wedding dress often turns into a financial problem, as evidenced by complaints on this website.