Union leaders yesterday called for a tightening of a publicly funded scheme intended to lure jobs to Scotland after a £1m grant was awarded to the richest bank in UK history. HSBC, which makes £1m profit every hour ($1,740,249 USD), will receive the regional selective assistance (RSA) grant from the Scottish Executive in return for creating up to 257 new jobs in Edinburgh.
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HSBC Bank plc is one of the largest banks in the world, and here at Household – HSBC Watch we received customer complaints from the State of Kansas in the United States and the country of Turkey. One common theme – rude customer service, lack of action, and empty promises. Once thought to be a trait of Household International, a disgraced predatory lender with the largest predatory lending fine in the United States, it appears to be spreading thoughout HSBC worldwide. HSBC bought Household International in 2003. Now called HSBC Finance Corporation, differences between HSBC’s reputable banking operation and HSBC Finance Corporation are as wide as the Atlantic Ocean.
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It seems as though customer service complaints, including those about slow service, rude employees, and do-nothing employees are not limited to HSBC’s Household International subsidiary. In an email an unhappy customer named Murat sent his experience about HSBC in Turkey. You can read it here. To bring everyone up to speed, Household International is now part of HSBC and is called HSBC Finance Corporation. After HSBC bought the infamous predatory lender they formally announced plans to export the “Household Model.” According to Murat in Turkey they also managed to export rude customer service, a trademark of HSBC’s finance side of the bank. In the United States HSBC’s employees have been quoted in our ‘quotable quotes’ section, where their true feelings show. What an ugly world we might have in years to come if this cancer spreads to other countries. We thank Murat from Turkey for bring this to the world’s attention.
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ZURICH (Reuters) – Swiss bank UBS is cutting ties with all of its clients in Iran because the business is unattractive, a spokesman said on Sunday. The move comes as a global conflict over the country’s nuclear policy is heating up. High costs deriving from uncertainty about security and regulatory matters in Iran meant the business was no longer worth continuing, the spokesman said. The decision was not driven by political motives, he added.
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Legal Info
Household HSBC Watch is a watchdog and consumer advocacy organization.
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
We use your individual HSBC complaints and merchant complaint reports to perform trend analysis.
We are not associated with HSBC, Household International, or their merchants.
Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act.
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