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Re: How does $15 speed up an HSBC payment?

[ Edited ]
That's what I thought, just another scam to get money out of people that might be late.

Do any "real" banks do this? Or just ones like HSBC?

By the way, I was driving down the street the other day and I saw a huge HSBC branch....what will I see next, a Bank of Delaware branch...can you IMAGINE? :smileysurprised:

I wanted to throw eggs at it. I did not know they had actual branches. I bet they probably have a "standard line" and an "express line" to stand in for the tellers but they charge xtra for the express. Probably charge their own banking customers to use the ATM inside. Who would bank there??!!

Message Edited by Jubeyy on 07-26-2008 08:52 PM
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Re: How does $15 speed up an HSBC payment?


Jubeyy wrote:
That's what I thought, just another scam to get money out of people that might be late.

Do any "real" banks do this? Or just ones like HSBC?

By the way, I was driving down the street the other day and I saw a huge HSBC branch. I wanted to throw eggs at it. I did not know they had actual branches. I bet they probably have a "standard line" and an "express line" to stand in for the tellers but they charge xtra for the express. Probably charge their own banking customers to use the ATM inside. Who would bank there??!!


Don't forget the Parking Space and Entering Building Fees.

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Re: How does $15 speed up an HSBC payment?



Justn wrote:smileyvery-happy:on't forget the Parking Space and Entering Building Fees.



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Re: How does $15 speed up an HSBC payment?

[ Edited ]


Jubeyy wrote:
That's what I thought, just another scam to get money out of people that might be late.

Do any "real" banks do this? Or just ones like HSBC?

By the way, I was driving down the street the other day and I saw a huge HSBC branch....what will I see next, a Bank of Delaware branch...can you IMAGINE? :smileysurprised:

I wanted to throw eggs at it. I did not know they had actual branches. I bet they probably have a "standard line" and an "express line" to stand in for the tellers but they charge xtra for the express. Probably charge their own banking customers to use the ATM inside. Who would bank there??!!

Message Edited by Jubeyy on 07-26-2008 08:52 PM


There are dozens and dozens of HSBC branches in NYC.  It's actually quite a popular bank around here.  Don't make the mistake of confusing any bank's banking operations with its CC operations.  Very often, the left hand has no idea what the right hand is doing in a corporation that size.  I haven't checked lately, but a year or two ago, HSBC offered some of the highest rates in the country on deposit accounts.
 
I still don't understand how it's a "scam."  I suppose one alternative would be for them to say that all payments take 2-3 business days to post, and if you pay too late, well, too bad.  At least they offer the option of paying extra to have your payment post the same day.  Anyone who doesn't want to pay it can always just pay at least a few days before the payment is due.
 
Please do not take offense at this, as it is not directed at you personally, but you have to admit that anyone making an online CC payment on the same day the payment is due isn't exactly in a position to expect red carpet treatment.
 
BTW, even BofA charges to make a standard payment by phone, and that's not even guaranteed to post the same day.
 


Message Edited by cheddar on 07-26-2008 09:17 PM
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Re: How does $15 speed up an HSBC payment?

[ Edited ]
Well, I don't get offended easily, thanks though. As far as all the HSBC branches in NY, that is something I did not know. I live in Los angeles and that's the only one I have seen.

I agree that Banks have many divisions...cc's, checking, etc., and about the whole right hand not knowing what the left hand is doing thing. I have a BofA checking and BofA cc's, it's like two separate companies...neither knows what is going on with the other.

As far as the scam...it is just my opinion, it is a scam. They are charging xtra for absolutely nothing. Why can't all payments post the same day before noon M-Sa (or all payments post 2-3 days, like you said)? Because it is another oppurtunity to take advantage of a customer. No, $15 is not much, but can you imagine how much they rack up every month due to the people that are paying the $15?

As far as red carpet treatment...is it such a strange an unheard of idea that a bank treat their customers with respect /and vice versa? Nickel and dime-ing customers does not show any respect for either the customer's money or their intelligence. True, people should be a little more responsible and not pay on the due date....but I have seen people on here that have over 10 cards....I could see a payment on a card being "forgotten".

Message Edited by Jubeyy on 07-26-2008 09:46 PM
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Re: How does $15 speed up an HSBC payment?



Jubeyy wrote:

Why can't all payments post the same day before noon M-Sa (or all payments post 2-3 days, like you said)? Because it is another oppurtunity to take advantage of a customer. No, $15 is not much, but can you imagine how much they rack up every month due to the people that are paying the $15?


Even in todays instantly connected world things don't happen simultaneously.  Systems have to update, then communicate with other systems, wait for confirmation that payment has been enacted, etc, etc.  Figure on two days, that is about as good as it gets.
 
You can avoid all of this by just staying on top of your bills and pay them well in advance of the due date.  That way there is no problem.  That's part of your responsibility.  If you forget until the last moment you will pay for the convenience of instant crediting.  It is a service they offer, but you can avoid it by managing your money properly.
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Re: How does $15 speed up an HSBC payment?



Watchmann wrote:


Jubeyy wrote:

Why can't all payments post the same day before noon M-Sa (or all payments post 2-3 days, like you said)? Because it is another oppurtunity to take advantage of a customer. No, $15 is not much, but can you imagine how much they rack up every month due to the people that are paying the $15?


Even in todays instantly connected world things don't happen simultaneously.  Systems have to update, then communicate with other systems, wait for confirmation that payment has been enacted, etc, etc.  Figure on two days, that is about as good as it gets.
 
You can avoid all of this by just staying on top of your bills and pay them well in advance of the due date.  That way there is no problem.  That's part of your responsibility.  If you forget until the last moment you will pay for the convenience of instant crediting.  It is a service they offer, but you can avoid it by managing your money properly.





Thanks! :smileysurprised:
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Re: How does $15 speed up an HSBC payment?

FWIW, my old Capital One card always credits my account with my payment before it clears my bank. Discover, on the other hand, seems to take 3 days and then some to clear a payment. I always make sure to PIF that card a week in advance.

The $15 fee is just a stupid tax. That is not compensating the bank for the risk. If they credit your account immediately for free (like capital one does for me), they will just tack a fee on if the funds aren't available. That's the same outcome as if you didn't pay at all. The $15 fee is just another way to milk you. In fact, that's the only bank I've heard of that does that.
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Re: How does $15 speed up an HSBC payment?


Wesley23 wrote: My old Capital One card always credits my account with my payment before it clears my bank. Discover, on the other hand, seems to take 3 days and then some to clear a payment. I always make sure to PIF that card a week in advance.
Cap One usually credits the account within 24hrs for me. But they always put a 10 day hold on the available credit. Like rite now I only have $4.12 available credit but I have $0 balance and I paid on July 17. They should release the funds today but they might not because its sunday.

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Re: How does $15 speed up an HSBC payment?

Bank of America was charging a fee to pay by phone, if you missed the Friday afternoon deadline and the due date was on the weekend. DH nearly got caught by that once on his BT. We called up and groveled, and they waived the fee. (This was before I got ruthless and started managing his credit as well as mine, lol.)

I could swear that I remember something from them about them no longer charging for this, but I don't know for sure. There would be some justification for a phone payment fee, as you would be tying up a human's time in dealing with your stuff.

Just about all of my CCC's now credit payment immediately, or the next day if payment is made in the evening, even if the next day is a weekend. And I think this should be the rule. I find it extremely difficult to believe that the payment is credited by some Bob Cratchit-like employee, laboring away late in the evening. More likely it's just another blip on the computer. And as Wesley pointed out, if it turned out that your bank funds weren't available, they would happily charge you at that point.

Just another nuisance fee.

And BTW, in hopes of avoiding a possible lecture, the dates I focus on are statement dates, as I am paying early in hopes of having $0 report. I don't mess with due dates. Any balance due has generally been paid 4 weeks ahead of the due date. :smileyhappy:
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