08-07-2010 05:54 PM
So with a $300 CL and trying to make it my primary card I have made 4 payments via HSBC website in the last 2 weeks. I thought since they were actually pulling the money from my account themselves they would release payments immediately. Thursday I got my e-mail payment posted, went to use my card last night and it was declined... Called today and was told HSBC may hold any or all payments for up to 14 days, the good news was my payment would be released in 10 days. After hearing the script at least 5 times being repeated to me I asked for supervisor who says if we can verify with your bank I will release... so she called me back in about 10 minutes with Chase conferenced in and after I verified myself with Chase, the representative told HSBC the payment cleared my account on thursday the day they pulled it!!
So took about 30 minutes and was frustrating but it is possible to avoid these holds
08-08-2010 02:36 AM
yes which means nothing to me... this is the only crappy bank i know that does such a thing... When I pay amex, my credit is available instantly... days before they actually get to process it!
08-08-2010 04:51 AM
I guess that's the price of dealing with a somewhat sub prime card
That and the age of the account.
Once you have had the card for a while they will start to replenish your CL within a day or two.
08-08-2010 08:48 AM
I've had two HSBC accounts now and they both liked to put payment holds within the first month or so of holding the account. After that I've not had any issue with it again. I'm guessing it's just the nature of the business....sub-prime accounts probably just have a much higher occurance of bounced payments and the like.
08-08-2010 02:22 PM
Also someone else mentioned once (though I can't verify) that if you use your bank's bill pay rather than HSBC's payment system the account is updated much faster.
I asked HSBC this also because my billpay actually pays in 1 day and the HSBC Payment takes 2 days even without holds but she just stuck with "we MAY place any payment on up to a 14 day hold" so who knows... I'm just glad I found the one worker that was willing to go a little further and call my bank, I'm fine with the holds for a while when the account is new if they will call and unlock the holds.
08-18-2010 02:07 PM
Here we are just one week later and they placed another 10 day hold on my payment this week. I call in and say please call my bank to release the hold and I'm informed that was a one time courtesy that they did that last time and this time I would have to wait the hold out. I took it all the way up to the floor manager to no avail. so I either don't use my account for 10 days or I make a second payment using my debit card which places no holds. thanks for giving me the debit card option the first time. he also said billpay payments from my bank would almost never get a hold but the lady last week said it would get the same hold as if i paid through there payment service. UGH
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