Unhappy bank customer (1)

I’ve been on HSBC’s books ever since my existence. Today at 26, I’m a shareholder, an ex-employee and finally, wait for it – an HSBC Advance customer.

Last month I applied for a home loan. Since the preliminary agreement fell through, I informed the bank that the loan had to be cancelled. I was told by the branch that the processing fees of €150 could not be reversed. Though obviously annoyed at having to forfeit this fee, I realise that after all the processing had been carried out and that it was not the bank’s fault the sale had fallen through.

Two weeks after this episode, I received a message from the bank that a further €207 was charged to my account. Thinking this was an oversight, I contacted the branch who informed me this was not an error and was according to the terms and conditions.

Apparently this charge is according to the general terms and conditions which state: “The bank shall be entitled to charge the fees outlined in the bank’s tariff of charges as may be amended from time to time”. However, this “bank’s tariff of charges” is nowhere to be seen, neither on the sanction letter nor on the website.

I feel the bank wasn’t very sensitive to the issue, and for €207 all I have now is a measly reassurance that I might be entitled to a discounted processing fee when re-applying.

In conclusion, for the grand total of €207, HSBC has one very unhappy ex-loyal customer. Potentially, the bank could have benefitted from some €90,000 in interest on the home loan, not to mention all profits from debit and credit cards, all future personal loans, a private retirement plan and life insurance. So dear HSBC, since the tariff has been amended to suit you, how would you classify that move: smart or advanced?