HSBC payout times...

Ed_from_beds

They confirmed receipt of my letter on sept 12th. People have sent theirs backafter me but already have their money, how can be in anyway justified??

Ed_from_beds

angbur wrote: »

I would be quite happy to wait my turn if HSBC were progressing them in the order that they were received, but it seems to be a random process and is quite frustrating.

Couldn't agree more!

bandofbrothers

Morning.

Working Day 7.

Awaiting money.

saverjustice

A bit of a backlog at all the banks, be patient, your money will arrive as soon as humanly possible. Not enough humans to cope with the workload so they are taking in contractors who will take about 4 weeks to get up to speed.

Ed_from_beds

saverjustice wrote: »

A bit of a backlog at all the banks, be patient, your money will arrive as soon as humanly possible. Not enough humans to cope with the workload so they are taking in contractors who will take about 4 weeks to get up to speed.

If they were being paid out in any kind of order then I wouldn't mind waiting!

Its just that some people are being paid within a week and other have to wait...

saverjustice

Ed_from_beds wrote: »

If they were being paid out in any kind of order then I wouldn't mind waiting!

Its just that some people are being paid within a week and other have to wait...

I suspect it might be down to the quality of individual claims handlers. This is a mammoth taks for them but what have they been doing while they waited for the JR result? Why did they get into this pickle in the first place?

Why am I asking questions when I know the answers??

Dear banks

You need people who understand risk and compliance better than those you have relied upon to date. Getting it right at outset avoids all these wasteful costly reviews and regulatory scrutiny.

Clare_B_4

Ed_from_beds wrote: »

If they were being paid out in any kind of order then I wouldn't mind waiting!

Its just that some people are being paid within a week and other have to wait...

Exactly, how can they justify some people getting their money in 5 or 6 days and others waiting nearly 3 weeks (and counting?). Of course I will be courteous with them on the phone but I will let my frustration be known and will be emailing the Chief Exec again.

bingobella_2

10 working days today received my acceptance on 14th money in bank this morning, however my loan is still showing as owed and they said they would pay that off. ill give them to the end of the day to sort cause my loan payment goes out on 30th, good luck all that a waiting

saverjustice

Clare_B wrote: »

Exactly, how can they justify some people getting their money in 5 or 6 days and others waiting nearly 3 weeks (and counting?). Of course I will be courteous with them on the phone but I will let my frustration be known and will be emailing the Chief Exec again.

3 weeks?? Have you told the FSA? Oh, they read these blogs don't they...

jason2009

Hello members,


I’ve been reading this thread for last few weeks but I think nobody raised this issue so I thought I will post my thoughts and it might help some people as to why it is longer for some people.


I think people who are getting their money with 10 working days are those whose loans are paid off and HSBC simply has to credit their current account with the money.


If someone’s loan is still pending then there are two departments involved lending and PPI complaints handling department and that is why some of you have to wait longer. First PPI complaints will log that you have accepted the offer and then it will be forwarded to the lending team which will amend the existing loan.