Consumer complaint received 2025-09-12 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Closing an account — Funds not received from closed account
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: NY

Complaint narrative:
I am submitting this complaint regarding excessive dormancy and commission-related fees charged on an account that was originally established as a custodial account by my mother when I was around XXXX or XXXX XXXX XXXX. 

I turned XXXX in XXXX and was unable to meet with the bank to transition the account into my name because I left foXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX These circumstances made it nearly impossible for me to manage or even access the account. 

My mother attempted to contact the bank on my behalf but was told she could not act on the account since it was no longer custodial. Upon returning to XXXX  life just a few months ago, I faced financial hardship and decided to liquidate the account to help cover expenses for my XXXX son, housing/bills and auto loan and insurance. The account had a balance just over {$1500.00}, but nearly {$400.00} had been deducted due to dormancy fees of {$50.00} and other charges. 

On XX/XX/XXXX, I eventually spoke with XXXX bank representatives, XXXX XXXX I did not get his last name ) and his XXXX, XXXX XXXX, on a conference call with my mother. We first spoke with XXXX, who explained that the fees could not be waived because they were both previously disclosed and tied to commission structures. I asked if he could waive the fees and he spoke with his XXXX ( XXXX XXXX ) and offered to only waive {$50.00}. We then requested to speak with management and XXXX brought on XXXX XXXX. When I requested additional fee waivers, I believe it was XXXX XXXX who stated, You are not a premier client as another reason for not waiving fees. Ultimately, they agreed to waive {$100.00} in dormancy fees and a {$25.00} wire fee to expedite my funds, but I still lost a significant portion due to inactivity XXXX XXXX XXXX XXXX XXXX XXXX  received {$1200.00} on of XX/XX/XXXX ). 

I understand that these types of accounts are not formally regulated since it is a brokerage/mutual fund, but I feel the treatment I received is subject to consumer protection standards. I believe this treatment was unfair and inconsistent with the protections afforded to servicemembers under the Servicemembers Civil Relief Act ( SCRA ) and general consumer protection principles. The bank failed to make reasonable accommodations or offer meaningful support despite my military status and circumstances.

According to the message when we called, it is stated that all calls are recorded for quality and training purposes. I would like these calls to be evaluated to support what we were informed by both XXXX and XXXX XXXX related to the fees and my lack of XXXX customer status. 

I have attached the most recent statement representing my account balance and transactions.

Company response to consumer: Closed with monetary relief