Consumer complaint received 2019-01-02
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: IL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with balance transfer

Complaint:
I initiated a balance transfer of {$4600.00} from my XXXX credit card account to my new HSBC credit card on XX/XX/2018. I received a confirmation email from HSBC that stated that the balance transfer should be complete within 7-10 business days. The balance transfer amount posted to my HSBC account on XX/XX/XXXX at XXXX. I noticed that it had not posted to my XXXX account on XX/XX/XXXX and decided to call HSBC customer service to inquire about the status of the transfer. I was brushed off by their customer service team and was told to call back in a week if the transfer was still not posted to my XXXX account. 

I called the customer service department again on XX/XX/2018 at XXXX and requested a status update on the balance transfer. Once again, the CSR told me that I need to be patient and wait another week and call back again if the amount still had not posted to my XXXX account. 

I made another call on XX/XX/XXXX at XXXX. This time, the first CSR accidentally (? ) hung up the phone after I was told he was going to do a payment trace. After calling back again, the second CSR told me that they are not able to do a payment trace. It then appeared to me that he was stalling. For example, he rep. told began to inform me on what a balance transfer is instead of directly handling the issue I presented. I promptly requested to be connected with a supervisor so that we can begin an investigation on their end. The supervisor that I ended up talking to was not very helpful. She told me that she was going to start an investigation and that we should have information within 5 business days I believe. She also told me to call back today, XX/XX/XXXX if the payment did not post by that time. I requested email updates on the status of the investigation : They did not do this at all. 

My final call was today, XX/XX/XXXX. The transfer has still not posted to my XXXX credit card account. I talked to another CSR who told me that the investigation process can take up to 14 business days. I told him that I need a path to resolution which he was unable to provide. Once again, I feel like they are brushing me off and simply adding more time delays into this process. We ended the call when the CSR told me that the supervisor that I talked to on the XX/XX/XXXX will be calling me back this afternoon regarding the status of the investigation. 

Through this whole process, XXXX has been very helpful. It has been very easy getting an informed individual on the line to help me investigate this issue. It only took me a few minutes to get an account specialist on the line investigating my issue. The XXXX employee believed that a payment trace should be a routine an easy thing for HSBC to do. Unfortunately, getting things done with HSBC has proved impossible at this point. I regret opening an account with them. 

As of right now, I have essentially doubled my debt because of this. Because so much time has elapsed, I am approaching my first payment on the HSBC card on XX/XX/XXXX. I am also going to have to pay on this balance transfer amount on my XXXX card on XX/XX/XXXX.

Company response to consumer: Closed with explanation