[Resolved] HSBC Nri Scam - HSBC Sucks — HSBC POOR SERVICE, UNETHICAL PRACTICES, DECEITFUL SELLING
Reasons why you should avoid opening account with HSBC NRI services:
1) The sales agent who would pursue you to open premier account with 10 lakhs Rupess, this is absolutely wrong fact given by the sales agents appointed by HSBC NRI services. You will realise the actual amount is 25 lakhs for premier account . So don;t ever get in trap of sales agents who are there to somehow get business by manipulation. They would lie to you all the time just to make you sign application. ( I was trapped by their sales person who promised and got me signed for 10 lakhs to go with premier account and came back to my work country. Later I couldn;t locate him on phone and HSBC Andheri intimated me that it is 25 lakhs which are required for premier account else I will be penalised.
Second phase of trouble starts once you have opened account:
2) There is no one to answer your querry, all that you would talk to is telephone banking agents, who would just note down the message but no coordination with their operations. You will not hear from them NO MATTER HOW MANY TIMES YOU CALL THEM SITTING OVERSEAS.
3) Telephone banking sucks, you can;t really do any transaction with them. you can;t get your issues fixed as the messages you leave with them get trashed.
4) You cannot transfer your money among your joint account, there is restriction, which is unwarranted or unexplained.
5) There are unknown and arbitrary FCY charges which are never explained.
6) If you are back to your work country outside India, you cannot use your account by any means, unless you leave your checks with your friends or relatives in India.
7) There are high conversion charges when you use debit card overseas. You loose lot of money.
8) The statement will come to you 2 months after it being printed. It is delayed by so many days or week when it actually hits the post office for further delivery to your address.
9) HSBC NRI services will paste less amount of postal stamp so either your delivery will be delayed or you will never get the post from them. IN my case actual stamp required was 25 Rs but the stamp pasted was only Rs 20. Moreover letter hit franking machine ( with insufficient amount of stamp) after 1 month of its issue date.
10) My account became dormant though necessary transactions were taken place. However it was only 1 or 2 transactions which I could make in year. But as per official records dormant status is posted only if there are no transactions for 2 years. I made transaction in Oct 2008 but the dormant status was showing till December 2008. The account can only be lablelled inactive if it has not done any transaction for one year. The information of account being so called "dormant" was received by me after two months. Total confusion and distortion of real facts. There is no one to hear you.
But most HSBC NODAL OFFICE, vice president Nri services are unaware of diffrentiation between "dormant" and "inactive" words.
The only good thing about HSBC is they have internet banking ( which is unusable for any transaction) except for paying bills, coupled with tall claims like " you will be treated in priority" for premier accounts.
11) Be ready to face their staff or tele banking agents who are just high school or university dropouts.
12) If you happen to visit their branch in Andheri or any other place be prepared to answer irrelevant questions by novice who are working with little knowledge about banking.
13) Be prepared to receive canned and automated messages which will not help you, but will keep you in indifinate trap. You cannot get any intelligent human factor to help you . So there is no point writing or emailing to them sitting 10000 kms away from home branch.
Only good thing about HSBC bank is neatly dressed staff with ties, with the word " Sorry" & " I apologise" while being ignorant of anything across the table or phone. Their training is all about ranting the words Sorry and I apologise.
I have forwarded my complaint to President Hsbc and Nodal officer so many times, but there is no proper response.
So if you want to loose your time and money please use HSBC NRI SERVICES, or just be on your own once you deposit or transfer your money. You can withdraw your money with great hardship only when you visit India.
Your money is struck and there is no one to answer you. So just be careful before considering to open account with HSBC NRI SERVICES.
AVOID THEM, OR LOOSE YOUR TIME AND ENERGY. YOU CAN'T BE DOING JUSTICE WITH YOUR MONEY IF YOU DEAL WITH THEM. THEY HAVE SO MANY WAYS TO TRAP YOU, EVEN TO ILLEGALLY MAKE YOUR ACCOUANT DORMANT AND KEEP YOU UNINFORMED. THEIR COMMUNICATION TAKES 2 MONTHS TO REACH YOU. SO JUST BE-AWARE... OR GET A BURDEN FOR LIFE TIME.
HSBC NRI SERVICES REALLY SUCKS... USE OTHER BANKS SO THAT YOU ARE SAFE IN TERMS OF PEACE OF MIND AND VALUE FOR YOUR OWN MONEY.
Complaint marked as Resolved Aug 14, 2020