Consumer complaint received 2019-11-14
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
I made a XX/XX/19 payment to HSBC bank for a consumer credit card ending in XXXX through an auto-payment set up to take the entire statement balance out of my account. 

Unbeknownst to me, the payment failed due to insufficient funds in the payment bank and the issue I have is that the credit card company HSBC failed to post the failed payment back to my account for 31 days and they waited to post it back to my account until a day after the next autopay posted ( the autopay was set up to pay the full statement balance on XX/XX/19 which did not reflect the returned payment ). HSBC waited until XXXX to post the returned payment. 

When I researched with the payment bank, I learned the payment was attempted and failed on XX/XX/19. The funds were never taken out due to a hold that was on a check that I had deposited. Thus HSBC ( the credit card bank ) would have had a failed pay and known that within 3-4 business days that the funds failed to come out of the payment bank, yet they sat on the return payment without posting it so that it wouldn't be paid off in full with the XXXX autopay, allowing them to unjustly enrich themselves by collecting additional interest from waiting until I received the XXXX statement ( 2 statements later ) and noticed that there was a problem. Any ethical bank would have posted back within a few business days and then at worst the funds would have been taken out with the next auto-payment. At best, they would have sent an email notifying three days after the payment that there was a payment issue ( I have email spam from them constantly so they have no trouble sending to me ). According to HSBC 's operators, no attempt was made to notify me there was a problem with a payment. 

On XX/XX/19 I spoke with several operators and several supervisors/operators that were supposedly managers with the company yet didn't seem to have any authority to resolve what seemed to be a fairly straightforward issue. Two of the four operators were XXXX XXXX, XXXX XXXX # XXXX. 

Had HSBC posted the failed payment back to my account in a timely manner, I would have been able to immediately taken care of the issue through autopay in XXXX or a manual payment. Since they didn't post the failed payment in a timely manner, when the returned the funds back they posted it on XX/XX/19 yet did so retroactively to the original payment date yet and thus charged me massive interest in arrears which I had no idea were accruing. 

All interest charges should be reversed since HSBC did not post the failed payment back in a timely manner so that 1 ) the following month 's XX/XX/19 autopay would take care of it, 2 ) or I could personally take care of it through an additional manual payment. I've already set up a payment for the failed payment as soon as I realized there was a problem which was on XX/XX/19 when I noticed the problem upon logging into my account.

Company response to consumer: Closed with explanation