Any experience with HSBC and bank draft delay?
Aug 31st 2004, 10:52 pm
#1
Thread Starter
Joined: Jun 2003
Location: Adelaide
Posts: 597
Any experience with HSBC and bank draft delay?
Anyone had any problems getting a bank draft cleared for credit of your online savings account with HSBC?
I opened my account in July, sending my 100 point check paperwork and a foreign draft for $2000 as requested drawn on my UK bank (Halifax). I got an email on 27 July confirming the account number etc followed by a letter providing internet banking details.
When I logged in I found that my balance was nil so I emailed HSBC to ask when my funds will be credited. The reply stated that it takes 5-6 weeks to clear an international draft. This seemed a long time to me; if I'd known I'd have waited until the account was open and arranged an electronic transfer.
However, 5 weeks is now up so I emailed again last night as my main funds have now cleared by electronic transfer but still no $2000. The latest reply says it could take up to two more weeks (making over 7 from receipt of funds).
I'm concerned as a) I've not actually had confirmation of receipt; b) 5-6 weeks seemed a long time (my bank wouldn't issue the draft until they checked my account and withdrew the funds so as far as I'm concerned it's a bank draft not a personal one - should be guaranteed) but 7 weeks plus is taking the mickey I think; c) there was a hitch with my application and I had to get the 100 point check paperwork redone - so now I'm worried that the draft may have got lost somewhere with the original paperwork.
I've emailed again to ask HSBC to confirm receipt and progress but just wondered if anyone else has had any experience of such delays in clearing funds - am I being too keen?
Elaine M
I opened my account in July, sending my 100 point check paperwork and a foreign draft for $2000 as requested drawn on my UK bank (Halifax). I got an email on 27 July confirming the account number etc followed by a letter providing internet banking details.
When I logged in I found that my balance was nil so I emailed HSBC to ask when my funds will be credited. The reply stated that it takes 5-6 weeks to clear an international draft. This seemed a long time to me; if I'd known I'd have waited until the account was open and arranged an electronic transfer.
However, 5 weeks is now up so I emailed again last night as my main funds have now cleared by electronic transfer but still no $2000. The latest reply says it could take up to two more weeks (making over 7 from receipt of funds).
I'm concerned as a) I've not actually had confirmation of receipt; b) 5-6 weeks seemed a long time (my bank wouldn't issue the draft until they checked my account and withdrew the funds so as far as I'm concerned it's a bank draft not a personal one - should be guaranteed) but 7 weeks plus is taking the mickey I think; c) there was a hitch with my application and I had to get the 100 point check paperwork redone - so now I'm worried that the draft may have got lost somewhere with the original paperwork.
I've emailed again to ask HSBC to confirm receipt and progress but just wondered if anyone else has had any experience of such delays in clearing funds - am I being too keen?
Elaine M
Sep 1st 2004, 12:36 am
#2
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Joined: Mar 2003
Location: Ping Ponged York via Melbourne and now pinged to Ferny Hills, Brisbane
Posts: 1,177
Re: Any experience with HSBC and bank draft delay?
Originally Posted by Elaine M
Anyone had any problems getting a bank draft cleared for credit of your online savings account with HSBC?
I opened my account in July, sending my 100 point check paperwork and a foreign draft for $2000 as requested drawn on my UK bank (Halifax). I got an email on 27 July confirming the account number etc followed by a letter providing internet banking details.
When I logged in I found that my balance was nil so I emailed HSBC to ask when my funds will be credited. The reply stated that it takes 5-6 weeks to clear an international draft. This seemed a long time to me; if I'd known I'd have waited until the account was open and arranged an electronic transfer.
However, 5 weeks is now up so I emailed again last night as my main funds have now cleared by electronic transfer but still no $2000. The latest reply says it could take up to two more weeks (making over 7 from receipt of funds).
I'm concerned as a) I've not actually had confirmation of receipt; b) 5-6 weeks seemed a long time (my bank wouldn't issue the draft until they checked my account and withdrew the funds so as far as I'm concerned it's a bank draft not a personal one - should be guaranteed) but 7 weeks plus is taking the mickey I think; c) there was a hitch with my application and I had to get the 100 point check paperwork redone - so now I'm worried that the draft may have got lost somewhere with the original paperwork.
I've emailed again to ask HSBC to confirm receipt and progress but just wondered if anyone else has had any experience of such delays in clearing funds - am I being too keen?
Elaine M
I opened my account in July, sending my 100 point check paperwork and a foreign draft for $2000 as requested drawn on my UK bank (Halifax). I got an email on 27 July confirming the account number etc followed by a letter providing internet banking details.
When I logged in I found that my balance was nil so I emailed HSBC to ask when my funds will be credited. The reply stated that it takes 5-6 weeks to clear an international draft. This seemed a long time to me; if I'd known I'd have waited until the account was open and arranged an electronic transfer.
However, 5 weeks is now up so I emailed again last night as my main funds have now cleared by electronic transfer but still no $2000. The latest reply says it could take up to two more weeks (making over 7 from receipt of funds).
I'm concerned as a) I've not actually had confirmation of receipt; b) 5-6 weeks seemed a long time (my bank wouldn't issue the draft until they checked my account and withdrew the funds so as far as I'm concerned it's a bank draft not a personal one - should be guaranteed) but 7 weeks plus is taking the mickey I think; c) there was a hitch with my application and I had to get the 100 point check paperwork redone - so now I'm worried that the draft may have got lost somewhere with the original paperwork.
I've emailed again to ask HSBC to confirm receipt and progress but just wondered if anyone else has had any experience of such delays in clearing funds - am I being too keen?
Elaine M
Ours was showing as soon as we got the details of the account. I would perhaps give them a call. Speak to someone rather than email.
Good luck
Jo
Sep 1st 2004, 1:09 am
#3
Guest
Posts: n/a
Re: Any experience with HSBC and bank draft delay?
Originally Posted by joh117
Elaine
Ours was showing as soon as we got the details of the account. I would perhaps give them a call. Speak to someone rather than email.
Good luck
Jo
Ours was showing as soon as we got the details of the account. I would perhaps give them a call. Speak to someone rather than email.
Good luck
Jo
Most credits will appear on a bank statement even though they haven't cleared.
I used to get bank statements here that showed the total credit, with a separate figure showing the cleared balance, so I could tell how much was still in the uncleared pipeline. But all bankings were still shown on the statement, cleared or not.
Sep 1st 2004, 1:50 am
#4
Joined: Jan 2003
Posts: 13,233
Re: Any experience with HSBC and bank draft delay?
They've mucked up haven't they?
Give em some stick, no way should you have to wait that long. Our draft cleared in a matter of days not weeks.
Get something definite from the Halifax to show it's not with them then get on to HSBC.
HSBC Bank Australia Limited UK +800 888 888 81
Resolving Your Complaints
Threaten to set singing Howard on to them.
Give em some stick, no way should you have to wait that long. Our draft cleared in a matter of days not weeks.
Get something definite from the Halifax to show it's not with them then get on to HSBC.
HSBC Bank Australia Limited UK +800 888 888 81
Resolving Your Complaints
Threaten to set singing Howard on to them.
