Balance transfer issue
Even after three months and a number of emails, I am left with no option but to seek Gulf News’ assistance in resolving my credit card issue with HSBC. I did not have a credit card from HSBC (although I had a current account) but agreed to have one when I was offered a balance transfer at zero per cent interest for six months. On November 2, 2014, I applied through one of their agents, but I categorically told her that I would agree to the application if the disbursal of the balance transfer money can be done on or before November 10, which is the payment due date, to RAKBANK.
The agent assured me that since I already have an account with HSBC and a long standing banking relationship, disbursal of balance transfer money would be easily done before November 10. However, despite repeated reminders, it did not happen and as a result, I had to pay Dh718.52 as finance charges to RAKBANK.
On my enquiry, I was told that any payment that I would make to settle the purchases done on the credit card would first go towards settling the balance transfer money, which negates the very reason for which I agreed to take a credit card from HSBC at zero per cent on balance transfer for six months.
Even though they had a mandate from me to directly debit my account to settle the payments, they charged me late payment fee twice, even while debiting my account by an amount equal to the minimum amount due.
I asked the bank to reverse the late payment charges of Dh200 (plus Dh200), and refund the finance charges of Dh718 that I paid to RAKBANK and refund the finance charges of Dh520.57 and Dh585.45 that HSBC charged me. I do not mind if they refund these amounts as credit to my credit card.
From Mr Arish Ehsan
Dubai
The management of HSBC responds:
I would like to take this opportunity to thank you for bringing this matter to our attention.
Please note that we have contacted Mr Ehsan and his case has been resolved. Thank you once again for bringing this matter to our attention.
Mr Ehsan responds:
Thank you Gulf News for all the effort taken in this case. The issue is resolved.
(Process initiation: March 16. Response from organisation: March 23. Reader confirmation: March 26.)
Editor’s note: Do you have similar issues that you would like to raise with us? You can write to us at readers@gulfnews.com.
