HSBC has adopted a unique way of making money. You drop the cheque on time, they dont process it by the due date and then charge you all the late payment charges etc. Also they continue to harass you on phone even when you tell them the payment has been done. They would call 5 times at your mobile, office, home just to ask 10 times about the payment which you have already made.
The email to nodal officer gets no response.
The customer care tells you to drop another cheque and block the one you dropped earlier. I wonder who would pay the cheque stop charges in this case. My Bank ABN charges me Rs 112 per cheque stop.
Finally i decided to drop another cheque assuming that they might have lost the old one. Then magically they withdrew both my cheques, effectively taking extra payment and levied me finance charges etc. When i protested my account was closed. They did not even bother to inform me on phone of my credit card account closure. On further followup they finally sent me the cheque for the extra amount that they had withdrawn, but in the whole process they made sure that they charge me the finance charges etc... Even when i had made the payment on time..
Anyways, please beware of HSBC. I have had citibank for 3 yrs and even though they have thier own problems they were never so pathetic. Even SBI credit card is better. At least they all don’t harass the customers who pay on time.