Consumer complaint received 2016-02-27
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: VA
Product: Money transfers
Sub-product: International money transfer
Issue: Money was not available when promised

Complaint:
As a XXXX retiree form a XXXX D.C.-based international organization, I live about six months of the year in XXXX. I have an HSBC XXXX Account i the XXXX and XXXX in XXXX and I use a service called XXXX to transfer funds from the XXXX to XXXX through Internet banking while I am in XXXX. I pay {$50.00} a month for this privilege. HSBC links my XXXX accounts and the transfers are supposed to be immediate. 
After having done this without problem for 5 years ( the funds would exit my XXXX account and be credited immediately to my XXXX account ), on XXXX XXXX, 2016 I tried to transfer {$1900.00} and the funds never got to XXXX. It took at east 20 calls to the HSBC XXXX call center and the XXXX call center. I spoke to at least XXXX call center employees in the XXXX call center ( probably in the XXXX ) and XXXX employees in XXXX. I spent a total of at least 30 hours on the phone trying to find out why my money got lost XXXX I explained that I needed the money MOST URGENTLY to cover expenses in XXXX as a retiree. Nothing swayed the call center staff into action. 
Finally, after much begging, my problem was " escalated '' to a " technical team '' and I was told I would get an answer in 48 hours ( which turned out to be 48 WORKING hours, or 6 days ). The reply I got from the XXXX HSBC XXXX team was, quote : " We have no access to the XXXX systems, and therefore we are unable to ascertain whether there was a transfer ''. The call center employee who read me that incredible reply over the phone suggested sending an e-mail to the XXXX XXXX XXXX in XXXX XXXX, if I wished to pursue the matter further. 
I called the XXXX call center once again ( it was around XXXX XXXX by then ) and they discussed the matter with XXXX. They were able to determine that the money had gone into a so-called " Transfer Suspense Account '' due to a technical glitch on their side. 
By then I was REALLY short of money in XXXX so I had to return to the XXXX to access funds. Once XXXX, I continued to pursue my case and finally, XXXX of the countless XXXX call center employees who I had discussed it with called me back and promised I would get my {$1900.00} back in my XXXX account. Incidentally, every time you call the HSBC XXXX center you have to answer a long list of security questions to make sure you are the account holder. However, the customer service people are not allowed to provide any information on themselves. Thus, if " XXXX '', ( probably not his real name ) makes a promise like this XXXX, and the next time you call " XXXX '' is not there, no one is held accountable for his promise. In fact, they have no idea what you are talking about! 
To make a long story short, I finally got the funds on Thursday, XXXX XXXX, in XXXX XXXX in my XXXX account. Of course, there was no interest added and of course the exchange rate mas most unfavorable. Oh, and by the way, I wo n't be able to use the money until I return to XXXX. 
So let me state my complaint in the form of a series of questions : Why does HSBC, a banking institution with operations all over the world, offer a XXXX service that it is not able to deliver? 
Why does HSBC offer a " XXXX '' service to its best clients and then does nothing to satisfy their needs, even if they are pressing as in my case? 
I heard that HSBC had to pay a hefty fine for laundering funds for XXXX recently. Could it be that their XXXX XXXX XXXX in XXXX is too busy doing that type of transaction to care about a meager {$1900.00} transferred by a lowly XXXX expatriate who needs the money to live on? 
I am aware that precisely due to money laundering concerns, moving funds internationally has become much more difficult and expensive in recent years. But remittances for legitimate purposes should not be made to pay the price..

Company response to consumer: Closed with explanation