Consumer complaint received 2024-09-13
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: HSBC NORTH AMERICA HOLDINGS INC. (CA)

Dear CFPB Representative, I am writing to formally submit a complaint regarding HSBC Bank USAs failure to honor a {$500.00} promotional bonus as advertised in a campaign I participated in earlier this year. I believe that HSBC has failed to fulfill its obligation as per the terms of the promotion and has not communicated the requirements clearly, leading to an unjust denial of the bonus. Despite multiple attempts to resolve the issue directly with HSBC, the matter remains unresolved.

Background Information : Promotion Details : On XX/XX/year>, I received a promotional email from HSBC offering a {$500.00} cash bonus for setting up direct deposits into my HSBC XXXX  checking account. The key terms of the promotion, as outlined in the email, were as follows : Set up direct deposit into the HSBC XXXX checking account and receive the first deposit by XX/XX/year>. 
Receive qualifying direct deposits of at least {$5000.00} per month into the account for 3 full consecutive calendar months.

The {$500.00} cash bonus would be provided within 8 weeks of completing the qualifying criteria. 
Compliance with the Promotional Terms : I set up my first direct deposit in XXXX XXXX as required. 
I maintained qualifying direct deposits of at least {$5000.00} for three consecutive months, from XXXX through XX/XX/year>. 
Despite fulfilling these requirements, HSBC has refused to issue the bonus, stating that my second direct deposit, posted on XX/XX/year>, did not meet the criteria, as it needed to be deposited by XX/XX/year>. However, the promotional email did not specify that {$5000.00} must be deposited in XXXX, only that the first deposit should be made by XX/XX/year>. 

XXXX Response and Handling of the Case : I initially contacted HSBCs customer service on XX/XX/year> ( Case ID : XXXX ), where the representative confirmed that I qualified for the bonus and assured me that it would be credited within 4 to 8 weeks. However, I did not receive the bonus by the expected date, so I followed up again. After several communications with HSBC agents, including escalations to management, HSBCs final decision was to deny the bonus based on the XX/XX/XXXX deposit. I have attached chat transcripts from these conversations where HSBC representatives acknowledged their lack of clarity on the terms of the promotion. 

Key Issues : Lack of Clarity in the Promotional Terms : The email did not clearly state that the first direct deposit must total {$5000.00} by XX/XX/year>. I was led to believe that the first deposit simply needed to occur before the deadline, and I complied with this instruction. 
Contradictory Information from HSBC Representatives : Initially, HSBC confirmed that I had qualified for the bonus but later denied the bonus on the grounds of a requirement that was not clearly outlined in the promotional email.

Failure to Resolve the Issue : Despite escalating the matter within HSBC, the issue remains unresolved, and I believe that HSBCs refusal to issue the bonus constitutes unfair treatment and potentially deceptive marketing practices. 
Request for Resolution : I am seeking the assistance of the CFPB to intervene and ensure that HSBC honors the terms of the promotion as they were presented to me. I respectfully request that HSBC be required to : Issue the {$500.00} promotional bonus as promised in the terms. 
Provide clearer communication to customers regarding the specific requirements for such promotions in the future. 
Supporting Documents : Exhibit XXXX : A copy of the original promotional email I received from HSBC on XX/XX/year>. 
Exhibit XXXX : Transcripts of my conversations with HSBC representatives, including their acknowledgment of the issue and conflicting information provided. 
I believe this situation reflects a broader concern regarding transparency in promotional offers, and I am hopeful that the CFPB will help ensure that consumers like myself are treated fairly. 

Thank you for your time and consideration. I look forward to your assistance in resolving this matter. 

Sincerely, XXXX XXXX XXXX  Tel : XXXX