Apr 17, 2009 10:54 AM
3888 Views
(Updated Apr 17, 2009 05:13 PM)
Dears friends
I am holding a flexi finace account having credit limit of 3.2 lacs with this bank recently without any information and reson they suddenly reduced my limit without giving me any time on 27/3/2009(ending of financial year) becouse of that my lot of cheques was bounced and when I write a letter to their MD what they replied is as follows My Letter to their MD:-
Dear Madam
I am HSBC bank customer for last three years. I had an OD limit of 320000/- from more than 2 year ie from 29/6/2006. For last two year, there has been no negative credit history. I also have HSBC credit card and the credit limit was renewed as recent as February 2009. This credit enhancement from your side clearly reflects banks confidence in my credit rating.
However, last week, I got a rude shock, when on 28th March, 2009, (three day before the close of financial year) I received an intimation from your bank stating that my credit limit has been freezed. I had an outstanding of INR2, 27, 990/- and cash balance of INR92010/-. This cash balance was automatically debited from my account(without my permission, which is a FRAUD and reflects poor professional conduct). Also, to add to this, the intimation was through an SMS and no official letter. Do you people work on SMS and if that’s the case, send me your mobile number and I will lodge this complain through SMS. Were you guys sleeping till now and suddenly woke up to reduce my limit three days prior to close of financial year. Sanction letter clearly mention that your account will be due for annual review on 29th June
This unprofessional conduct of your bank had resulted in serious payment crisis during the last week of financial year end. This month been financial year end, I had issued cheques to my vendors. However, because of your bank poor conduct, I had to go for stop payment, clearly affecting my credit quality in front of my vendors.(who is liabile for this?). I had not approached you for these facilities, it was your marketing people who had persuaded to take these limit. I consider that day as an unfortunate day of my life.
To make matter worse, I had to run pillar-to-post for reply. After an unsatisfactory response from your call centre, I approached HSBC Ahmedabad Customer relationship officer, Mr Gurpreet. He comes with a reply that HSBC had reduced limits for all customers. I am least concerned about what you do with other customer, if my limits are valid till 29/06/2009, it should not be altered before that period. Also, in case you are falling short of capital, I would have expected prior intimation so that I could have arranged resources accordingly. This one-side high handed behaviour of HSBC is not acceptable to me. Mr Gurpreet doesnot know how to deal with customer.(Reply from your bank is attached). This type of reply was not expected. They clearly mention that if you want to close the account, sign the closing form. Is this the way you treat your customer? First you guys go begging for business and then you treat customer like a useless creature. Try to be innovative in giving excuses. Non-availability of capital is your problem and I should not be asked to suffer because of this. I want you to prove that my credit quality is poor.
I also, donot understand how HSBC’s credit evaluation is done. I received a credit upgrade intimation on my existing HSBC credit card as late as 18th February 2009(letter attached). The limit was increased to INR1, 80, 000/- earlier INR1, 50, 000/-This credit limit enhancement was based on my credit track record. On the other hand, suddenly another HSBC department come to conclusion that my credit conduct is not proper. I had never defaulted to any payment and all the payments have been on time. HSBC claim to have a robust credit appraisal process, however, I have serious doubt over these claims. How can one credit appraisal upgrade my credit limit, while another credit department decreases my limit. I think you should get your house in order, before you start your business. I think you people donot know how to do business.
I now realise the meaning of your slogan World's Local bank" becuase this type of conduct can be done by some roadside Local bank. I want to understand your credit appraisal mechanism as well as your customer service(if any). I wants to know on what basis HSBC had reduced my OD limit without giving sufficient time to arrange the funds, and that to on pretext of poor credit conduct. I want you to prove this allegation. I want you to explain this unprofessional practice of not intimating customers and not giving any notice to the customers. Because of your way of doing business, I had suffered loss of credibility infront of my vendors. Who is liable for this? You had a contract with me and you had allowed me the limit upto 29th June, 2009, after reviewing all my credit. The contract clearly mention that the annual review is due only on 29th June, 2009.
Also, please, donot hide behind the global credit crisis, and if that’s the case, were you guys sleeping till last week. You should have intimated the decrease in credit limit, much in advance, and not at the last week of financial year.
I want an early satisfactory reply.
And their unproffessional reply is as follows
