How do companies get away with charging late fees ON TOP OF late fees because their statements are mailled late?
HSBC Retail Services has this method completely under control - just add late fees to accounts paid in full, THEN mail the statement with the late fee to the customer 3 days prior to payment being due. With doing business this way, the company assures itself payment of late fees every month from unsuspecting customers!!!
My story: My payment was mailed May 22 - 6 days prior to the due date of May 28; however, I feel that because of the Memorial Day holiday on May 28, my payment may have had delayed entry by HSBC Retail Services.
Also, I just received my June 5 statement today June 25 and payment is due June 28. I was told by the "floor supervisor", Jennifer (JYG Illinois) and her "manager", Joy (EW3 Illinois) that if I was unable to make payment via internet, checking account via phone or by western union, I would be charged an additional $29 late fee on top of the current $29 late fee.
While it appears that it is "my" problem payment wasn't received by the due date, it is also once again my problem that I received their statement 3 days prior to the due date. This screams to me, "Send us your money, but don't bother us when something goes wrong on our side."
I closed the account but I'm still stuck with NOW $58 in late fees!!! And who knows if additional fees will be added NEXT month! I regret ever opening this account! I have filed a complaint with the Better Business Burea of Delaware and I am sending a letter to the company, hopefully the President of the company - if they will give that information up!!
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