HSBC high settlement time and verification time (in Billpay)

[redcarpet]

Hi,
I paid hsbc cc bill from Cred, Mobikwik and even after hours it doesnt seem to be credited. All the details are right but settlement didnt happen yet. Whereas for other cards I get the credit message within a minute.


Along with that hsbc cc is in pending state in HDFC billpay since 5-7 days.
Is there something wrong with the hsbc cc? My due date is near, where should I pay to get instant settlement

 

[Ankur dhanda]

Takes around atleast 7 business days for credit

 

[redcarpet]

Takes around atleast 7 business days for credit

Mobikwik and Cred should be instant right

 

[Ankur dhanda]

Mobikwik and Cred should be instant right

Instant only through HSBC account

 

[redcarpet]

Takes around atleast 7 business days for credit

But the payment date would still be bill payment date right:
Across All platforms: Amzn, Mobikwik, Cheq, Cred, BillPay etc

 

[helloworld]

But the payment date would still be bill payment date right:
Across All platforms: Amzn, Mobikwik, Cheq, Cred, BillPay etc

mostly but sometimes hsbc reports other date (like two days after we paid), maybe thats when they received and in HDFC billpay it takes 4-5 working days to credit.

 

[akshayhs]

Takes around atleast 7 business days for credit

That's embarrassing, especially in 2023

 

[Ankur dhanda]

That's embarrassing, especially in 2023

They are actively now trying to expand, so hoping should get better with time.
But atleast the premier service has been good in comparison to imperia and burgundy..

 

[helloworld]

They are actively now trying to expand, so hoping should get better with time.
But atleast the premier service has been good in comparison to imperia and burgundy..

I know its specific to user requirement but would like to know if you don't mind..

what are the services you're looking with these HNI banking programs?

to see where some banks are lagging and some provide useful service etc. Nothing towards any program because I never availed even didn't contacted any RM till now, just doing what I do with 25k balance accounts same in these type of programs, just for no charges opened or some automatically upgraded.

So, checking actual benefits/use cases for these programs, in case if I miss will check them, could you share your experience?

 

[mgforce]

They are actively now trying to expand, so hoping should get better with time.
But atleast the premier service has been good in comparison to imperia and burgundy..

Really?

I had HSBC Advance Account, linked to my Loan Account. While had Branch close-by, and visited once a year - never felt them any better than others.

Yes - little bit more polished words & speech - but their systems, processes were similar. In terms of SLA, they were slower.

Not sure if changed or Premier is much better than Advance.

 

[Ankur dhanda]

Really?

I had HSBC Advance Account, linked to my Loan Account. While had Branch close-by, and visited once a year - never felt them any better than others.

Yes - little bit more polished words & speech - but their systems, processes were similar. In terms of SLA, they were slower.

Not sure if changed or Premier is much better than Advance.

May vary by program or branch location but I have had good experience with premier banking in Delhi with a good RM..

 

[mgforce]

May vary by program or branch location but I have had good experience with premier banking in Delhi with a good RM..

Indeed, a good RM make or break the overall experience.

 

[Ankur dhanda]

I know its specific to user requirement but would like to know if you don't mind..

what are the services you're looking with these HNI banking programs?

to see where some banks are lagging and some provide useful service etc. Nothing towards any program because I never availed even didn't contacted any RM till now, just doing what I do with 25k balance accounts same in these type of programs, just for no charges opened or some automatically upgraded.

So, checking actual benefits/use cases for these programs, in case if I miss will check them, could you share your experience?

Axis and HDFC RM usually call only for cross selling their insurance and other products. Rarely have been able to get work done from them.
My HSBC premier RM would call me to invite to movie screening being held by HSBC or any other events. While I was transferring my HL with them they reversed the interest for 3 days the time IndusInd took extra to process the transfer from their end. Approving metal card for me without spend criteria within 2 months and not asking to make investments through him in return.
Small things but it mattered to me so it’s nice for me.
Experience May vary with others I’m sure.

 

[Ankur dhanda]

Indeed, a good RM make or break the overall experience.

Yes that’s true, applies to all the banks rather. My IndusInd RM was also great till the time he moved out and a new useless one took his place .

 

[MJN]

Takes around atleast 7 business days for credit

Can anyone confirm this?

My hsbc cc due date is 21st.. I paid on 19th(Sunday) thru hdfc billpay.. Today it's 22nd evening..But till now not credited.. Pls let me know when it will be credited?

 

[Ankur dhanda]

Can anyone confirm this?

My hsbc cc due date is 21st.. I paid on 19th(Sunday) thru hdfc billpay.. Today it's 22nd evening..But till now not credited.. Pls let me know when it will be credited?

You paid very near to due date.
Might just miss the grace period for payment as well.
Maybe Thursday or later atleast

 

[redcarpet]

Can anyone confirm this?

My hsbc cc due date is 21st.. I paid on 19th(Sunday) thru hdfc billpay.. Today it's 22nd evening..But till now not credited.. Pls let me know when it will be credited?

Better to pay through instant (or near instant) settlement apps like cred/paytm etc again. Once the older payment reflects, u can ask for credit balance refund to savings account

 

[kesarkarshri]

Can anyone confirm this?

My hsbc cc due date is 21st.. I paid on 19th(Sunday) thru hdfc billpay.. Today it's 22nd evening..But till now not credited.. Pls let me know when it will be credited?

In my experience ,this does not take 7 working days.I have done payments to HSBC cc 3/4 times from HDFC billpay portal. e.g. I had paid minimum amount due on 24th April probably 4-ish pm and remaining payments on 28th (29th as due date), and I could see the entry on 29th and in the mobile app it said 24th April as payment date and 29th April as processing date .To see this information, one needs to click that specific entry under the "transaction history". More importantly , when the statement came ,it said 24th April as "Date" for minimum amount which was paid and 28th for the remaining amount.27th,28th was Saturday(working?) and Sunday.In case of HDFC billpay,For speedy processing and transaction entry to reflect in 3 to 4 days , one should do payment such that there are contiguos working days. When I do the same payments from Cred, there is immediately some indication in the transaction history where the App would indicate amount and call it "pending" and then even that entry disappears and reappears in few days.HSBC's payment received SMS also comes very late,I received SMS on 6th May for the abpve payments mentioning dates such as 30th April, 2nd May in the SMS but statement always reflected the actual dates payments were made.

 

[helloworld]

Better to pay through instant (or near instant) settlement apps like cred/paytm etc again. Once the older payment reflects, u can ask for credit balance refund to savings account

never use these apps for instant payment for SC, HSBC, ICICI, CITI. These banks won't work for instant settlement and preferably payment should be made 3 to 5 working days before.

Though settlement date usually the day we process the payment or sometimes it may credit but ideally never trust these banks for instant settlement.

 

[Fyccf]

Better way to pay is to do NEFT transfer to HSBC IFSC Code HSBC0400002 with your card number as account number. Payment made during the day will reflect in account after about 11 pm