Thursday, October 02, 2008
Found a Bug in HSBC Online Banking
I bank with Bank of America, but my savings is with Citibank because (1) better interest rate, and (2) there is a branch close to my house. With my savings, I prefer to swing by the branch and make my deposits (it's like putting money in a piggy bank...oink). With the exception of savings and my safe deposit box, I do everything else online.
In August, I opened up an HSBC credit card to pay for the deck: it's 0% interest for 12 months, so I figured I'd passively do some credit card arbitrage and make interest for a year on the balance.
Since a brand new HSBC branch opened about a mile from house this summer, and their savings rate is about a point higher than Citibank, I decided on 26-September to open an online savings account and a CD.
I actually have three (3) checking accounts at BofA, with the so-called primary account just trafficking my mortgage (money in, payments out). I indicated on the application for HSBC to fund the initial deposit from my 2nd BofA account, and to verify online (instead of a trial deposit). This lets you enter your online banking credentials so it can make sure you're who you say you are (much like Quicken or MS Money, both of which suck).
I clickity-click in my bank information, and it fails twice, then tells me it's going to go ahead and do trial deposits. Yesterday, I receive an email that my trial deposits are there, and to verify them so it can fund my new accounts.
I log in to BofA, and the trial deposits aren't in account #2, they're in account #1. It failed b/c the account I request to use in the online verification is not the primary for my online banking account.
I sent an email to HSBC this morning, but I have not received a response. I called their 800-number (which sounds to be in Bangalore), and was told I entered the wrong account number. I described what happened in exacting detail, but the rep kept arguing that I put in that account number (yes, you're right, I typed in an account number I don't know, instead of the one I use all the time). My options were to mail in a check, or have my application deleted and start over.
As you can imagine, I had the application deleted, but I won't be starting over (with them).