Consumer complaint received 2023-08-27
Company: HSBC NORTH AMERICA HOLDINGS INC.
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
[ HSBC US suddenly and unreasonably froze all of my accounts and decided to close them without any reason, including my Checking account, Saving account, and Credit Card. Lose rewards ] // I am a XXXX citizen currently residing in mainland XXXX XXXX I discovered online that a bank located in the XXXX, " HSBC Bank USA, N.A., '' offers Premier Checking accounts and Premier credit cards. In XX/XX/2023, I opened a Checking account and a Saving account with HSBC US, and in XX/XX/2023, I applied for the Premier credit card. // My credit card was approved and mailed to my address in mainland XXXX XXXX I have been using the credit card and Checking/Saving accounts without any issues.// My Checking account is primarily used for handling deposits and withdrawals with brokers, and secondarily for savings. I informed the bank of this when I applied for the account. Some time after opening the Checking account, I called the bank 's customer service to apply for a credit card for online shopping on US websites, attracted by the offer to " Earn XXXX Bonus Points after spending {$3000.00} in the first 3 months from Account opening '' ( as advertised on their official website ). I informed them about my job and income situation, and clarified that individuals in mainland XXXX can also apply for a credit card. I provided documentation of my salary and income. They eventually issued me a credit card. // On XX/XX/2023, I suddenly found that my credit card was unusable. When I logged into the mobile app, it displayed " User Suspended ''. I called the HSBC US customer service, and they told me that my account was under review. On XX/XX/2023, I called the HSBC US phone customer service, including the security team, and I was informed that they " recommended account closure ''. They are preparing to close all my accounts without any reason. My account is bebing blocked now. // After HSBC US decided to unreasonably freeze and prepare to close my account, they claimed that they no longer allow me to use the funds in my HSBC US account to pay off the credit card. They also don't allow me to transfer the funds out via ACH or Wire transfer. 


From publicly available information online, I discovered that a large number of customers in XXXX have complained about their HSBC US accounts being completely frozen and closed. A commonality among them is that they applied for a credit card between XXXX and XX/XX/2023. HSBC US credit cards can be applied for by specific international customers who do not reside in the US. Perhaps there indeed are some individuals who abuse this, such as deliberately defaulting on debts and refusing to repay. // As for MY CASE, I believe I haven't done anything that violates the law, bank regulations, or any unethical actions. I haven't engaged in any suspicious or fraudulent activities either. I don't wish to default on any bank debts, nor do I want to do anything wrong. 

I am deeply disappointed by HSBC US 's discriminatory ( Because of my nationality and place of residence ) and blanket decision to close all of my accounts. It's not just the credit card account ; even the Checking account couldn't be retained.// As a result, the advertised card opening rewards can obviously be defaulted on, all gone. This is clearly unfair.

Company response to consumer: Closed with explanation