I have an HSBC Gold card and have a 15 year relationship with them. I have recently availed of a balance transfer facility for a 3 month period. However, I found to my surprise that finance charges had been levied in the first statement, despite paying the 5% minimum balance required.
Nowhere in the Terms & Conditions is any of the following mentioned:
a) A minimum of 5% is payable every month - as I have opted for a zero interest option
b) The processing fees are considered as a purchase and will attract finance charges if not settled along with the first minimum payment (which is alo not specified).
Despite repeated calls to HSBC and letters through Internet Banking, no one has shown me any proof that these conditions exist.
But I have been lived charges based on verbal communication of conditions which are not mentioned anywhere on paper.
Shame on HSBC. I really do not expect this kind of indifference from one of the world's largest banks!
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