Sunday 23 August I was intending to send the payments in pounds sterling direct to my pounds sterling ANZ account. I subsequently discovered the outgoing payment had failed to reach my ANZ account as it had been sent in NZ dollars and the account was not compatible.
The HSBC payments website, I have since learned, automatically defaults to the local currency when you try to make a payment. Despite this, at no stage did HSBC contact me to advise me of what had happened. I have been banking with HSBC for more than 20 years and feel very badly treated. The reported comment that this happens a lot suggests there is an issue. Had HSBC contacted you after the money failed to arrive, it could have substantially mitigated your losses, but staff apparently chose not to.
Before you got in touch, you contacted the Financial Ombudsman Service, which is looking into the matter. Rather than help you now, HSBC has told us it will let the ombudsman make its decision. When this happens — it could take a year — we will report the outcome. In our experience, it is always better to use the third-party currency firms when moving sums abroad. We welcome letters but cannot answer individually. Email us at consumer.
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