Household HSBC Watch

Global Payments Inc., a provider of electronic transaction processing solutions, announced it has agreed to form a joint venture with HSBC Bank plc to provide payment processing services to merchants in the United Kingdom and Internet merchants globally. The new company will operate under the name HSBC Merchant Services. The big question is whether […]

Neiman Marcus is facing off with HSBC Finance - formerly known as predatory lender Household International. What do Neiman Marcus customers have in common with subprime, predatory lending, and late application of payments? Absolutely nothing, but Neiman Marcus selected HSBC Finance as their private label credit card processor. We questioned the move […]

Many suspect a racketeering case will eventually include electronics retailer Best Buy and HSBC. At issue is ongoing compensation to Best Buy due to payments HSBC says are “late” when in fact they are not. However, Best Buy is already wrapped up in a racketeering case, this time with Microsoft. In the […]

As recently as one year ago HSBC refused to provide regulators with international banking information. Sources close to many investigations knew or suspected HSBC was aiding terrorism, money laundering, and other related issues. Taking lessons from predatory lender Household International, now owned by HSBC, the bank simply refused to answer questions. […]

This customer report is alarming and very revealing. It is consistent with reports since 1994. It also supports charges against HSBC and Household International in Shea vs Household (HSBC). Clearly and without doubt HSBC is lying to this customer. Here is the report:

I feel I am being taken for a […]

The U.K. Office of Fair Trading will announce early next week that banks have agreed to speed up payments made by consumers over the internet or by telephone and standing orders.

At present there is a gap of three days between a customer’s account being debited and the recipient being credited - despite modern technology that […]

Customer service representatives - and Best Buy employees - are reported as telling the customer about their ‘no interest no payment’ plans for 90 days, all the way up 12 months. these reps are wrong. The Best Buy website clearly states this:

No interest for 12 months. Offer applies on qualifying purchases […]

HSBC’s Global Transaction Banking Services business today announced it will provide clients a centralized-secure payment service across Canada, the United States and Mexico. The payment service from one of the world’s largest financial institutions is geared toward clients that need to make payments to trading partners within North American Free Trade Agreement (NAFTA) countries. It […]

The voting is still open as Household - HSBC Watch volunteers search for the quotable quote of 2005 from an HSBC employee. In first place is this gem:

“They do not send an electronic receipt when payments go through, so consumers must assume it worked… The person I reached on my second call was simply […]

CompUSA’s new CompUSA and Good Guys Megastores open Friday in several cities across the country. In December 2003, Dallas-based CompUSA bought Good Guys, an Alameda, Calif.-based specialty retailer of high-end entertainment electronics.

Consumer advocates at HSBC Watch say financing for CompUSA and the former Goodguys stores was originally through predatory lender Household International, now […]