MSE News: Got an HSBC personal loan? You could be due share of £218 million in refund

gavvy

Last contact I have with fos is 6th July, to tell me they have now requested a file from HSBC. I will hear from an adjudicator within 12 weeks. Hopefully I wont have to wait that long.

beeswax95

I don't know what I did wrong, or maybe I do, but most of you had a more positive outcome with the FOS. After complaining to the FOS I had a letter stating that I had to complain to HSBC first, before complaining to FOS. I guess I have not followed protocol. In my opinion I have complaint to HSBC twice asking why and when. Nevertheless, I then got a not so nice letter from HSBC to say that they have contacted me to say that interest refunds can take as long as 2016 and that I was very happy with this. LOL! I guess this happens if you are too nice to people. I guess I should have been a teeny bit horrible to the person on the phone. I am going to forget it now. Well done to those who had more success.

gavvy

beeswax95 wrote: »

I don't know what I did wrong, or maybe I do, but most of you had a more positive outcome with the FOS. After complaining to the FOS I had a letter stating that I had to complain to HSBC first, before complaining to FOS. I guess I have not followed protocol. In my opinion I have complaint to HSBC twice asking why and when. Nevertheless, I then got a not so nice letter from HSBC to say that they have contacted me to say that interest refunds can take as long as 2016 and that I was very happy with this. LOL! I guess this happens if you are too nice to people. I guess I should have been a teeny bit horrible to the person on the phone. I am going to forget it now. Well done to those who had more success.

I would ask HSBC for a final resolution letter then go back to the FOS with it!

beeswax95

Thanks for the advice gavvy. I did not know that I could, but will do that for sure. Will post again to update on that.

jaxkesa

Got a letter from HSBC saying FOS has written to them about my complaint. It says they are unable to give me a date when they will be writing to me about my refund but they will be contacting customers "over the course of 2015 and into 2016".

They will however call me within the next 5 days to provide me with a breakdown of any interest refund I may be due. But it doesn't say they will actually give me my refund!

gordo43

Raised a complaint yesterday through Internet banking regarding the time delay in issuing the refunds, stated in the complaint they announced this a year ago now and length of time is unacceptable etc.. Received a call back this morning, which told me nothing new, they basically said they have a lot of loans to look at and can't give a date when the refund will be issued.

Asked for a final resolution letter by post, so off to the FOS next.

There is clearly some sort of loophole here where the banks haven't been given a specific time frame in order to issues payouts and they are abusing the situation by dragging their heels. It's laughable that a multi billion pound bank like HSBC can't populate all the affected loans into a program and automatically generate the refunds.

**laura**

Can anyone offer advise on where I should go with this please?
I contacted HSBC through secure message regarding 4 loans I have had with them. 3 closed, one still active. I have a reply that says
"I can confirm that your
loans taken Febuary 2012 and March 2013 are eligible for a
refund of interest."
It doesn't mention how much or when this will be paid. I replied requesting further information and they have called me today. The advisor read my secure message and confirmed that it appears the advisor that replied to it has checked my individual loans but said she can't see how she can possibly have done this and that she couldn't give me any idea of a date she may be able to provide any further information.
Is there anywhere else I can go with this? The person that replied to my message must have looked at the figures surely? If I go to the FSO what would I give as reasons for doing so?

gavvy

Before you go to the FOS you need a final response letter from HSBC, this will include your fos rights, - a paragraph stating you have 6 months from the date of this letter to refer to the fos if you are not happy - so I would go back to them first and ask for that. Then go to the FOS and say why you are not happy.

**laura**

Thank you. If I do that though will that mean if the FOS were to find against me that I wouldn't receive the redress even when HSBC got round to looking at it anyway?

firewire1200

So the FOS has instructed First Direct to repayment the interest from month 13 till end of loan within 4 weeks, which they have agreed. what's the betting It will take them till 3 weeks 6 days before they bother to do this