HSBC closed my credit card

[sjmajumder]

HSBC has closed my CC on 29th November. This is outrageous.

I had asked them to transfer the compensation amount of Rs. 20,000 to my SB Ac. After 2/3 mail exchanges they transferred the amount on 29th Nov to my SB Ac.

Till this morning, I was completely unaware of the fact that the card has been closed. I have not received any mail/call/SMS. When I logged into HSBC net banking this morning, I couldn't see any card. Then logged into mobile app still no card. Finally decided to try a transaction on Amazon. The payment page redirected to HSBC with an error message. Then I called up HSBC and I was told the card has been permanently closed by bank on 29th Nov (same date when the credit balance was transferred to my SB Ac). He couldn't give me the reason as it is not available in the system and said I will receive a mail with the reason for the same.

I have mail from nodal officer on 29th stating they are transferring the amount to my SB Ac. and from complaints management on 30th stating my complaint is closed. No further mails apart from marketing mails which is still coming.

Can bank close my CC without my consent and knowledge and not even intimate me after closing it? What should be my course of action?

@TechnoFino @Aniket @SSV @HumorSimpson (please tag relevant people)

 

[RAMESH BABU N]

Daawat ka time nahee...
Sok manane ka time hai.

Isiliye, bulaya nahee....

 

[kuchbhi]

Daawat ka time nahee...
Sok manane ka time hai.

Isiliye, bulaya nahee....

sukh mai koi sath de na de
dukh mai awashya dena chaiye 🙂

 

[rajcasio]

I think its another way of PUNISHING the customer who raises voice(RBI complaint) over them by using their so called INTERNAL POLICY

check 10 page booklet which your receive as T&C at the time receiving physical credit card...I am surprised you have not read the same...I read it and there is a T&C that bank can close the card depending on its internal policy and credit assessment..

They lost 20k and it will be recovered from one of the employees whose fault will be fixed & it is negative for bank so do not expect them to be nice with you.

I won 5k compensation from SBI and they also rejected my credit card...They offered me to issue the card if i withdraw my complaint which i refused

So my guessing is right it seems.

 

[realjayt]

4862698552099160 . Generated from a valid bin.

Thanks mere bhai!!!🥳🥳

 

[realjayt]

AND,

Surprisingly, their Agents give you a way out.

Open Special SB account with them and within a month or two, they will send you pre-approved emailers so that you can apply directly to HSBC - by passing the processing team. This way, many non-salaried class (like freelance workers, business persons, self employed, students and retired people) can and have obtained their CCs.

Another surprising fact is that these customers can be based anywhere in India and not necessarily only in those places where HSBC got their branches.

This looks promising. Any chance of getting duped?

 

[imdjay]

Depends on bank. Yes bank didn't reactivate mine when I agreed to go to branch and do re-kyc. They asked me to apply fresh after 90 days.

All the banks can reactivate the card. It depends upon the person and their authority.

 

[RAMESH BABU N]

The Agent gets his commission for introducing you n on opening a Special SB account (MAB 25K). HSBC gets a good SB account customer (not a 0 MAB). In order to meet their targets, they give CCs to their own customers based on certain internal parameters.

For such customers, you open a 25K MAB SB account and do some good trxns thru that to pay your CC bills, n other trxns. Wait for 2-3 months and start the process.

If you go directly to HSBC, you may need to wait a bit longer. And, probably, your opening of SB may be a bit not-smooth for up-country/remote customers

 

[rajcasio]

OFFTOPIC
I found no use of HSBC CC LTF anymore.
Lying unused for a long time and linked it to GOOGLE ONE for 100 GB - 130 INR autopay. That's it.

 

[ManojGowda]

OFFTOPIC
I found no use of HSBC CC LTF anymore.
Lying unused for a long time and linked it to GOOGLE ONE for 100 GB - 130 INR autopay. That's it.

Buy ED Sheeran's concert tickets.

 

[talkwithfino]

These days RBI and SEBI started tagging complainant as Chronic complainant if they complain too much even though complaint is genuine....If you are tagged as chronic complainant then none of your future complaint will be entertained

Chronic complaint category cannot apply to him
@sjmajumder has always provided factual evidences. And RBI has given the decisions in his favor. Moreover, this is only for SEBI. I could not find it mentioned for RBI anywhere.

Anyways coming to the case,

Though they mention t&cs like they have right to anything and everything at anytime, type of clause, without assigning any reason whatsoever and makes us to aggree, without which we cannot avail their service.

Very True. Foreign Banks are actually the worst when it comes to this. Here's the Disclaimer that DBS Bank mentions in their email.



So, for example if the mail I receive says, the Credit Card is LTF; at the very end this disclaimer would be mentioned. ( in EVERY EMAIL including ones received from PNO Desk )

MITC from HSBC website: HSBC may at any time, by providing a notice of 30 days, terminate and close the credit card and the credit card account of the credit Cardholder without assigning any reason for the same.

They have not provided me a notice, neither a reason. So, they have clearly violated their own set rules.

They have clearly violated their own guidelines. I went through the RBI Master Direction , it does not have anything regd closure of cards by Bank.

Buttttt >>
24. Terms and conditions for issue of cards to customers
(a) The relationship between the card-issuer and the cardholder shall be contractual. Card-issuers shall make available to the cardholders in writing, a set of contractual terms and conditions governing the issue and use of such cards. These terms shall be expressed clearly and also maintain a fair balance between the interests of the parties concerned.

So, clearly, HSBC has violated their own T&C here. @sjmajumder , if you need the Senior Management Id's you can DM me.

 

[sjmajumder]

Expecting a fair treatment in India is bit unrealistic expectation....If you will complain to RBI, i am telling you in advance that bank will produce back dated SMS CDR stating one month notice was given to customer...

These days RBI and SEBI started tagging complainant as Chronic complainant if they complain too much even though complaint is genuine....If you are tagged as chronic complainant then none of your future complaint will be entertained

My personal take, For peace of mind, close this chapter and chill. You already received your bounty from bank

Do you work in HSBC? Are you by any chance the affected employee? Wondering what is the motivation behind such demotivating comments.

 

[sjmajumder]

Chronic complaint category cannot apply to him
View attachment 76804@sjmajumder has always provided factual evidences. And RBI has given the decisions in his favor. Moreover, this is only for SEBI. I could not find it mentioned for RBI anywhere.

Anyways coming to the case,

Very True. Foreign Banks are actually the worst when it comes to this. Here's the Disclaimer that DBS Bank mentions in their email.

View attachment 76805

So, for example if the mail I receive says, the Credit Card is LTF; at the very end this disclaimer would be mentioned. ( in EVERY EMAIL including ones received from PNO Desk )

They have clearly violated their own guidelines. I went through the RBI Master Direction , it does not have anything regd closure of cards by Bank.

Buttttt >>
24. Terms and conditions for issue of cards to customers
(a) The relationship between the card-issuer and the cardholder shall be contractual. Card-issuers shall make available to the cardholders in writing, a set of contractual terms and conditions governing the issue and use of such cards. These terms shall be expressed clearly and also maintain a fair balance between the interests of the parties concerned.

So, clearly, HSBC has violated their own T&C here. @sjmajumder , if you need the Senior Management Id's you can DM me.

Thanks for your detailed research and reply.

I too looked for chronic complainant and couldn't find anything for RBIO. And similarly no guidelines regarding closure of CC. It states closure rules, penalty for delay, etc. when requested by customer.

RBIO complaint form, even has a sub category for blocking of CC without intimation.

 

[AlgoTrader]

Thanks for your detailed research and reply.

I too looked for chronic complainant and couldn't find anything for RBIO. And similarly no guidelines regarding closure of CC. It states closure rules, penalty for delay, etc. when requested by customer.

RBIO complaint form, even has a sub category for blocking of CC without intimation.

View attachment 76806

there you go, you will get another bonus if they dont reactivate the card

 

[sjmajumder]

there you go, you will get another bonus if they dont reactivate the card

Bonus depends on RBIO, but complaint will happen even if they reactivate 🙂 i.e. unless they also give me the compensation without going to RBIO.

 

[tempmirzaa]

HSBC has closed my CC on 29th November. This is outrageous.

I had asked them to transfer the compensation amount of Rs. 20,000 to my SB Ac. After 2/3 mail exchanges they transferred the amount on 29th Nov to my SB Ac.

Till this morning, I was completely unaware of the fact that the card has been closed. I have not received any mail/call/SMS. When I logged into HSBC net banking this morning, I couldn't see any card. Then logged into mobile app still no card. Finally decided to try a transaction on Amazon. The payment page redirected to HSBC with an error message. Then I called up HSBC and I was told the card has been permanently closed by bank on 29th Nov (same date when the credit balance was transferred to my SB Ac). He couldn't give me the reason as it is not available in the system and said I will receive a mail with the reason for the same.

I have mail from nodal officer on 29th stating they are transferring the amount to my SB Ac. and from complaints management on 30th stating my complaint is closed. No further mails apart from marketing mails which is still coming.

Can bank close my CC without my consent and knowledge and not even intimate me after closing it? What should be my course of action?

@TechnoFino @Aniket @SSV @HumorSimpson (please tag relevant people)

Since I face this problem fi money and federal bank closed my cc with out my permission I give belt treatment

Thread 'Unauthorized Closure of My Credit Card'

Aug 22, 2024

I am writing to express my deep concern and dissatisfaction regarding the unauthorised closure of my credit card issued by Fi Money in collaboration with Federal Bank.

Allow me to share my experience:

On August 14th, I contacted Fi Money through their application to inquire about the process of closing my credit card. My query was limited to a single line in the chat: "How to close your card?" However, there was no response from any customer service representative, and I subsequently forgot about the inquiry.

On August 20th, at exactly 3:15 p.m., I received an SMS stating, "As per your...

• tempmirzaa
• credit card
• Replies: 6
• Forum: All Other Bank Credit Cards

Madam/Dear Sir(s),
Closure of your complaint dated 28-09-2024 against FEDERAL BANK LTD regarding Credit Card: Ref. No. RB-IOS-N202425009018155
Please refer to your captioned complaint filed with our office. We have carefully examined the captioned complaint and our observations are given here under.

2. The complaint was regarding the unauthorized closure of credit card. The RE (Federal Bank) responded that the complainant contacted the FI support team to inquire about the procedure for closing his credit card, but unfortunately, the card was mistakenly closed by the support staff. The bank, to resolve the issue, informed to have offered him an alternate Federal bank Credit Card with the same limit, which was accepted by him. The contents of the bank's reply were sent to the complainant for feedback and the complainant expressed his non-satisfaction with the resolution provided. He also informed that the customer service from both Federal Bank and Fi Money has been unsatisfactory, and despite multiple follow-ups, the REs failed to issue him a new card, and seemingly delaying the resolution, and requested for compensation. It was observed that the bank had inadvertently closed the complainant’s credit card and to address his concern, offered an alternate credit card with same limit, which was also accepted by him. However, the complainant in the feedback informed that the bank has not issued the card yet. For the delay in providing resolution to this issue, the bank was advised to pay a token compensation of Rs. 10,000/- to the complainant. In compliance, the bank informed that Rs 10,000/- was credited to complainant’s account on 29.11.2024. The bank’s advisory compliance was sent to the complainant for his feedback; however, no response was received from him within the stipulated timeline. As alternate card was issued on 21.10.2024 and advisory issued to the bank was complied by them, complaint is closed as resolved.