HSBC Credit Cards
Due Date

This complaint is not speacific to HSBC Credit Cards only but would include Standard Chartered, SBI and some other issuers of credit cards. These companies are defrauding the customers by mentioning the due date on the body of the statement. The fine print actully is that the bank should have realised the payment by the said date. This means that the bank should receive your cheque 4 working days before the due date. The banks use this tool to penalise hapless customers as sometimes their payments would be realised 1-2 days late. I am currently fighting this battle with HSBC and Standard Charteded Bank. My question is why can't the due date be the date by which the customer has to drop the cheque in the drop box. We don't need 50 days of credit but better transparency. We as customers do not wish to sit back and calculate 4 working days before making the payment. I would like RBI to look into this matter.

Company: HSBC Credit Cards
Country: India

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