Hsbc - The World's local thieves

66 of 183 Hsbc reviews

Those aspiring to come and work in the UAE or any GCC country ought to know that the working conditions etc are good.What you should NOT is take a loan from HSBC esp.

To begin with, they make you sign a blank cheque and tell you that it is only a 'formality'.Thinking of how well they are established and renown, you obviously trust them.THAT is the biggest drawback. You then take a loan and they make it sound so good by promising you 24 times your salary etc. I did just that in 2004 and have been making payments of 3700 Aed a month, against a loan of some 140000 Aed. For sometime after I lost my job, I could not manage the 3700 AED payment.

Still a minimum payment of 1000 AED was made. The complaints manager Syed Raza Rizvi had the audacity to accuse me of non payment of my loan, when in actual fact I was doing so through their CDM's (ATM'S).Here in the UAE, once you lose your job, you take your termination letter from your company and submit the same to the bank from which you have taken a loan. The bank in turn claims your outstanding loan from the insurance company. Managers like Rizvi and Murthy seem to have no clue.Now just imagine HSBC telling even a small number of their customers here that they have defaulted.

Obviously most customers would trust HSBC due to its global popularity and not question them.Thus by fleecing customers HSBC keeps getting bigger, paying their managers so much in salaries and commissions!

This review is a subjective opinion of a user.
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Bank Loan
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Dmitry

Jun 20, 2012 #499353

HSBC UAE are Thieves!!!

After not using my UAE account , they blocked it and assumed the funds!!!! I tried to get my money back for the last 4 month, but no success yet!!!
Unbelievable!!!
Thieves - thats the right name for them!

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HSBC hater

Jan 13, 2012 #408622

worse bank ever - they try to fleece you in every way they can.
1) I made a cheque for £6000 UK pounds to come to my Indian HSBC account and they took away Rs 14200 from the entire transaction
2) after giving me the lowest rate ever (during the entire month the £ has been hovering at Rs81 and they gave me an exchange rate for Rs78!!!
3) plus, they promised that the entire amount would be in my Indian account in 21 working days but even after 30 working days the amount was still not in. I had to kick up a fuss to finally get it.
4) they hiked the min amount from Rs 25,000 to Rs 75,000 without letting their customers know - it seems they sent the info (in font 6 on a bank statement which I never got as I get all my info online) but never once did they think, in all these months of me visiting them, to let me know in person about this change, to tel me, to send me a registered letter.
I am definitely going to change banks - slimeballs of the lowest order.

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Ailene

Jul 21, 2011 #315687

I really hope that pissedconsumer.com does indeed post all this to HSBC. This deceptive, low and cheap practice is so common in the middle east. Yes they loan you money and tell you that you can make payments for the same through their cash dispensing machines. Unfortunately many customers at random are told that they have not paid for the past 6 months and thus have to cough up the entire amount in one go. This is the trick that HSBC use, looking out for the few gullible ones. They are so dirty, arrogant and cheap..........it does not get any worse. Mindspeaker, we are with you. I assure you that there will be more coverage for this

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Abdul Jabbar

Jul 20, 2011 #315157

HSBC is a very bad bank and I can somehow believe Mr. Mindspeaker. They did the same thing to a friend of mine. He was also accused of not repaying the loan which was not true. Until now his loan did not end.

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Derrick

Jul 20, 2011 #315138

Yes I do agree with Mindspeaker. HSBC thrive on lying and cheating hapless, innocent victims.By rights they should waive off the remaining of his loan. I am very sure (doing simple math), that they have long recovered their full amount from the victim. They generally threaten defaulting customers of notifying the police who then lock you in prison. For each day in the uae that you spend in prison, a mere 100 Aed is deducted from your loan.The Central Bank of the uae should ban HSBC

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Maxine

Jul 20, 2011 #315136

This is very true of HSBC. It is due to their insecurity in the glbal financial market that they want to make their presence felt by sponsoring all the sporting events when in truth they are the world's spoilt sports! They cheat so many people in the middle east

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