Karen
Wilkes Barre,#2Author of original report
Thu, October 25, 2007
I just wanted to let everyone know that I filed a complaint with the OCC in Texas against HSBC/Orchard Bank over this issue. Yesterday, I received a letter from the OCC that they had opened a complaint. Later yesterday, I received a call from HSBC regarding the filed complaint. I told them that they need to update their website with more consumer information on the "Rush Payment". No where does it tell you that the $12.95 rush payment fee will be added onto your credit account just as a purchase would be. I told him this practice is double dipping the customer since we are paying 12.95 for the fee and then having it added onto our credit card we are paying interest on it too. I suggested giving people the option to either pay it up front or have it added onto their credit card. Hopefully the result of my complaint will make something HSBC does a bit better for the consumer. I also asked them to give me credit for the $12.95 fee since I sent very many emails to them with no results and had to go as far as filing my complaint. They complied. Bottom line is-just don't complain about what they do-file a complaint and try to get something done!
Karen
Wilkes Barre,#3Author of original report
Thu, October 18, 2007
I have sent several emails back and forth with Orchard Bank with negative results. I asked them to let me know where in WRITING on their website does it state that the rush payment fee will be added to your credit card account. I keep getting the same garbage emails "that they appreciate me as a customer bla bla bla" but they have yet to answer my question. I think the problem is that they do NOT have this info anywhere visible. Anyone that logs into their account and checks into RUSH payments will see that the only info they give you is that is costs $12.95 and will post the same day. It's just another underhanded practice of Orchard Bank!
Nikki
Coconut Creek,#4Consumer Comment
Thu, October 18, 2007
I recently had to make a rush payment to my account and I do see what you are talking about. I made a payment and figured they would take the payment plus the rush fee out of my account. They only took payment and added the rush fee to my account. Luckily I made enough of a payment and here is why I say that: Say your account has an available balance of $2. Say you make your $15 minimum payment and choose the rush option. You figure they will debit your bank account for $15 plus the $12.95 rush fee. They only debit your bank account $15, credit your Orchard card $15, but add the $12.95 fee (for a real credit of only $2.05). Then your statement drops and you are charged $5 in interest. Voila, you are now over the limit by $0.95 and they charge you an overlimit fee. Pretty sneaky. Forget the couple of cents worth of interest on the money, you can incur an overlimit fee. Everyone, if you have Orchard Bank credit card and make a rush payment, make sure to make your payment for what you mean to pay plus the rush fee!
Karen
Wilkes Barre,#5Author of original report
Wed, October 17, 2007
Nikki, I see the point you're making, but no where did I see where they were going to add the rush payment charge onto my bill. Even though it's a small amount of interest on the 12.95-that's not the point. I should pay this fee once and be done with it. It may only be a small amount of interest on the 12.95 but imagine how it can add up when you do this to a number of people.
Karen
Wilkes Barre,#6Author of original report
Wed, October 17, 2007
Nikki, I see the point you're making, but no where did I see where they were going to add the rush payment charge onto my bill. Even though it's a small amount of interest on the 12.95-that's not the point. I should pay this fee once and be done with it. It may only be a small amount of interest on the 12.95 but imagine how it can add up when you do this to a number of people.
Nikki
Coconut Creek,#7Consumer Suggestion
Wed, October 17, 2007
Usually they debit your bank account for the payment + rush fee (which in your case would have been $31.95). I guess they only debited your account for the payment, but still gave you the rush and tacked it onto the bill. They did credit your account as though you made a rush payment, didn't they? What does the receipt you printed out after you made the payment show? The good news is $12.95 at 29.9% interest is only about 35 cents a month in finance charges. Or, you can just make a payment now in the amount of the $12.95 and only pay a few pennies in extra interest since you meant to pay that payment anyway.