Money transfer, virtual currency, or money service -- Wrong amount charged or received -- Complaint #15154418
Complaint Overview
Complaint ID: 15154418
Company: HSBC North America Holdings INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: International money transfer
Issue: Wrong amount charged or received
State: North Carolina
ZIP Code: 274XX
Date Received: 2025-08-07T12:00:00-05:00
Date Sent to Company: 2025-08-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Summary of Complaint : On XX/XX/XXXX, I initiated a USD wire transfer from my HSBC USA account to a multi-currency account at XXXX XXXX. Despite clearly intending to send funds in USD, HSBC 's online platform automatically converted the amount to XXXX without a clear prompt or confirmation. I did not request this conversion. I contacted HSBC immediately on XX/XX/XXXX, via chat support to unwind or reverse the conversion. HSBC refused to assist, offered no meaningful solution, and instead encouraged me to convert the funds back through their system a move that would have resulted in double profit for HSBC. I filed a formal complaint on XX/XX/XXXX ( ID : XXXX ), but was told during a follow-up chat on XX/XX/XXXX, that the complaint was for " internal purposes. '' I then re-submitted the complaint via email the same day. Despite multiple follow-ups, HSBC claimed in XX/XX/XXXX to have sent a closure letter in XX/XX/XXXX a letter I never received. Their eventual XX/XX/XXXX response was terse and dismissive. I submitted a detailed complaint again on XX/XX/XXXX, outlining all failures. On XX/XX/XXXX, HSBC responded repeating its prior position and declining compensation. Their reply failed to address : The lack of clear consent to convert USD to XXXX The misleading platform design Their refusal to assist or credit the FX margin loss when promptly contacted Procedural failures in complaint handling, including misclassification and delays HSBCs claim that the transfer was executed exactly as instructed is inaccurate. I never instructed a conversion to XXXX. Their interface defaulted to an unsupported currency ( XXXX ) without confirmation, creating a foreseeable consumer trap. Relief Requested : Full reimbursement of my USD XXXX loss Formal review of HSBCs transfer platform design and complaint process Regulatory investigation into HSBCs handling of currency conversions and complaint mismanagement
Frequently Asked Questions
What is Complaint #15154418 about?
Complaint #15154418 was filed against HSBC North America Holdings INC. regarding Money transfer, virtual currency, or money service specifically about Wrong amount charged or received. It was received by the CFPB on 2025-08-07T12:00:00-05:00.
How did HSBC North America Holdings INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against HSBC North America Holdings INC.?
Yes, visit the HSBC North America Holdings INC. company profile at readthecomplaint.com/company/hsbc-north-america-holdings-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.