HSBC payout times...

saverjustice

jason2009 wrote: »

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.

Thank you Jason

Mr_Mave

I think Jason is correct.
I've been watching this forum thread since posting my acceptance to them.
I paid my loan off on the 2nd Sept. I posted my acceptance letter on Sunday 11th Sept. (so call it monday 12th), which HSBC acknowledged receiving on the 13th and the money appeared first thing yesterday (26th) in my Co-op account.
And that was even after being abusive over the phone when I was told it could be up to 4 weeks.

good luck to everyone still waiting, I kinda feel bad that I've been paid in a sorter time period than Ed From Beds and others

Clare_B_4

saverjustice wrote: »

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

I've spoken to the FSA, they said they deadline they've given the banks to payout is 8-10 weeks, I'm not even going there....

My loans were sent to HSBC's collection agency (which was actually a relief) and I don't have any accounts with them anymore so the money should be going to my Santander account. I've had no acknowledgement of my acceptance, no email from the PPI claims department, only a response from someone at the Chief Exec's office.

Clare_B_4

Mr_Mave wrote: »

I think Jason is correct.
I've been watching this forum thread since posting my acceptance to them.
I paid my loan off on the 2nd Sept. I posted my acceptance letter on Sunday 11th Sept. (so call it monday 12th), which HSBC acknowledged receiving on the 13th and the money appeared first thing yesterday (26th) in my Co-op account.
And that was even after being abusive over the phone when I was told it could be up to 4 weeks.

good luck to everyone still waiting, I kinda feel bad that I've been paid in a sorter time period than Ed From Beds and others

Do you have a phone number for the right department? I've never been able to get through to the right person, or received an acknowledgment.

nixx101

Had my upheld letter this morning, sent it back an hour ago, but it doesn't have a time scale on it.

Waiting game now!

Clare_B_4

Finally got through to someone; apparently my money was sent yesterday and will take up to 3 working days to clear to Santander. If it's not there by Thursday, all hell will break lose, I swear.

ni0106

Clare which number did you get through on ?

Im on about the same timescale as you, and have emailed the chief exec today, had the standard reply but nothing further yet.

Ed_from_beds

Thank you all for your support, I have received an email from HSBC (it would be wrong for me to give out the address but I initially emailed the chief exec) it confirmed that the payment had been sent for processing yeterday (funny the working day after I emailed).

I have checked and it went into my current account (no longer HSBC) this afternoon.
My HSBC loan does not show as settled yet but i am confident that this will happen.

Best of luck to everyone still waiting.

Clare_B_4

Well, it seems banging the table works as I have my money! :j

ni0106 - I got through to Complaints (I think) on 0800 881155. The lady I spoke to knew exactly what I was calling about, which is a vast improvement on anyone else I'd spoken to, and could tell me exactly when the money had been sent.

I also got an email and call from a Senior Complaints Manager (prompted by my email to the CE). Interesting that the lady on the number above said it would take 3 working days for the money to clear, but the manager said it should show in my account within a couple of hours....and low and behold it's there a few hours later! Anyway, it's there now and will go a long way to clearing my debts I'm paying through CCCS. The end is in sight!

Good luck to you all still plugging away with this; do keep on at them! Huge thanks to ML and all at MSE and on the forums for the advice on this, I wouldn't have known where to start without this site. :money:

Owneymower

Clare_B wrote: »

Well, it seems banging the table works as I have my money! :j

ni0106 - I got through to Complaints (I think) on 0800 881155. The lady I spoke to knew exactly what I was calling about, which is a vast improvement on anyone else I'd spoken to, and could tell me exactly when the money had been sent.

I also got an email and call from a Senior Complaints Manager (prompted by my email to the CE). Interesting that the lady on the number above said it would take 3 working days for the money to clear, but the manager said it should show in my account within a couple of hours....and low and behold it's there a few hours later! Anyway, it's there now and will go a long way to clearing my debts I'm paying through CCCS. The end is in sight!

Good luck to you all still plugging away with this; do keep on at them! Huge thanks to ML and all at MSE and on the forums for the advice on this, I wouldn't have known where to start without this site. :money:

Fab news, delighted for you all !!!