Consumer complaint received 2018-12-11
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: OH
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
I opened a HSBC Choice checking account in early XXXX of XXXX. HSBC was running a promotion then that they are still running now ( from their offer terms and conditions ) : " HSBC Choice Checking {$200.00} Welcome Deposit : For this offer, New Money33 is required. HSBC reserves the right to change or terminate this offer at its sole discretion. For purposes of determining whether you have maintained the Qualifying Balance for the Welcome Deposit, a New Money average balance will be calculated by averaging the end of day balances of each Business Day throughout the total offer period. 

Your HSBC Choice Checking account must be open and in good standing at time of gift fulfillment. Limit one Welcome Deposit per customer, including all individual and joint accounts - the first line name on the joint account is considered the customer for gift purposes. The Welcome Deposit to your HSBC Choice Checking account will be reported on the applicable IRS form. Eligible customers who take advantage of this offer can not receive any other New Consumer Deposit Offers provided by HSBC Bank USA, N.A. New Consumer Deposit Offers are defined as  incentives in a form of merchandise and/or cash bonus that are offered to customers who open an eligible checking account and satisfy qualifying activities. '' It is now XX/XX/XXXX and I have both maintained a {$1500.00} balance AND a recurring direct deposit from my employer since the account was opened. However, HSBC is refusing to apply the {$200.00} reward. From their customer service agents, I have received 3 different reasons : 1. The first agent said I do qualify, but would have to wait another 4-6 weeks ( this was in XXXX ). 
2. After still not receiving it, the second agent said I did not receive the reward because my balance was only {$250.00}. This agent was looking at my credit card account, not my checking. When I corrected them, they pivoted and said my account would need to be reviewed. 
3. The agent I spoke with today said that I did not receive the reward because I already had a HSBC credit card which disqualified me from the reward. 

Regarding # 3, here are HSBC 's terms on existing customers : " This offer is available only online for applications completed using the Apply now button on this webpage. You must be at least 18 years of age, have a Social Security Number, currently have a U.S. residential address and have had U.S. residency for the past three years to apply for a deposit account online. Customers who held an HSBC consumer deposit or investment account from XX/XX/XXXX through and including XX/XX/XXXX are not eligible for this offer. All qualifying activities must be completed within the stated time frames in order to be eligible for the Welcome Deposit. '' I did not have a deposit or investment account, I had a credit card account. Again, HSBC is changing the rules as they go along to avoid payment of a simple and straightforward new account reward.

Company response to consumer: Closed with explanation