Consumer complaint received 2018-09-18
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: IN
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
I opened an account with HSBC because of a promotion they were running with a bonus. Upon opening online, I arranged for a {$100000.00} deposit via transfer of funds ( which was required for the bonus ) from my account at XXXX bank. HSBC made multiple transfer requests for {$100000.00} instead of just one request, resulting in my account with XXXX to be overdrawn and causing {$72.00} in overdraft fees to be assessed by XXXX to me. Following is the first example of transfer requests from HSBC on the same date at the same time ( there were several other attempts by HSBC ) : XX/XX/2018 ACH WEBSINGLE XXXX HSBC ONLINE TRANSFER {$100000.00} - {$77000.00} XX/XX/2018 ACH WEBSINGLE XXXX HSBC BANK ACCT FUND {$100000.00} {$22000.00} You can see where these caused the balance to go into the negative of - {$77000.00}. 

HSBC claims that XXXX must have made an error to cause these additional transfers, even after I have provided them copies of these online statements showing the multiple transfer attempts time and time again, as well as the overdraft NSF charges I was assessed as you can see below : XX/XX/2018 RETURNED ITEM FEE ( NSF ) Information Icon {$36.00} - {$78000.00} XX/XX/2018 RETURNED ITEM FEE ( NSF ) Information Icon {$36.00} - {$81000.00} XX/XX/2018 ACH WEBSINGLE XXXX HSBC ONLINE RETRY PYMT {$100000.00} - {$81000.00} HSBC continued to time and time again initiate bank transfers from my XXXX account even after they had received the initial {$100000.00} transfer and had deposited that amount in the new HSBC account. 

This was clearly an error on the part of HSBC, but HSBC will not take responsibility. I have been harmed by their negligence and fraud, whether intentional or random. HSBC should refund the {$72.00} fee to me and can do so by depositing that amount into my account XXXX. It is irresponsible that HSBC will not simply fix the problem that they have caused.

Following is a excerpt from my CHAT with HSBC where I attempting, however futile, to resolve this issue with the company ; Why did HSBC continue to take transfer after transfer after they already had the {$100000.00} transfer completed? 
XXXX at XXXX, XX/XX/XXXX : The initial transfers were not successful, so this would be why there were multiple transfers initiated. 
XXXX XXXX at XXXX, XX/XX/XXXX : The initial transfer WAS SUCCESSFUL and {$100000.00} went to HSBC XXXX XXXX at XXXX, XX/XX/XXXX : HSBC had already received the {$100000.00} but continued to make withdraw attempts again and again XXXX at XXXX, XX/XX/XXXX : The initial transfer was not successful this is why there are multiple transactions.The transfer that was successful was the transfer on XX/XX/18. Which is the last transfer from the information of transactions you provided and the transfer that shows on the HSBC account transaction history. 
XXXX XXXX at XXXX, XX/XX/XXXX : On my HSBC account Online information it shows the HSBC account was funded on XX/XX/XXXX XXXX at XXXX, XX/XX/XXXX : Again my apologies for the inconvenience. 
XXXX XXXX at XXXX, XX/XX/XXXX : XX/XX/2018 ACH WEBSINGLE XXXX HSBC ONLINE TRANSFER {$100000.00} - {$77000.00} XX/XX/2018 ACH WEBSINGLE XXXX HSBC BANK ACCT FUND {$100000.00} {$22000.00} XXXX XXXX at XXXX, XX/XX/XXXX : Above shows HSBC taking 2 withdraws on the same date at the same time XXXX at XXXX, XX/XX/XXXX : The account was funded on XX/XX/18 and the only transaction in the transaction history is on XXXX. If you are referring to the XXXX account I would not be able to validate that. Again my apologies for your experience. Is there anything else I can assist with today?

Company response to consumer: Closed with explanation