HSBC's Special Due Date for Check Payments

Tuesday, May 08, 2007

I just noticed that my bill has a special note at the bottom of the page. It states that for check payments - you need to pay 3 banking days prior to the due date.

I find this quite unfair because we have to adjust the due dates if we're paying in checks! So what's the purpose of having a due date printed on the statement?

Other credit card companies who have been in the industry for a far longer time than them does not demand this from their clients. I know so because I handle my parent's accounts. I find this quite unfair and fishy - I mean just because you'll be paying in check you need to pay 3 days in advance? Such a discrimination for those who pay in checks!

Here's an image of the notation in my statement:

Is it just me or is it really unfair?


  1. heya,

    check payments usually go to a clearing house (which is usually outsourced) so the turnaround time by sending them to this institution causes hsbc to loose valuable time to collect your $$$.

    thats the reasoning behind it.

    unfortunately, banks are greedy little critters that don't care about their clients.

    in my opinion...if due date is say may 31st...dapat may 31st ang payment day mo. what they do with how they sort and collect your money is their problem...unfortunately they are passing this responsibility to have to pay earlier...

    just a note...why not use online banking? you can pay your bills on the day itself and in the comfort of wearing your PJ's and drinking your hot coco on the other hand?

  2. That's a good idea - how does that work? Might give that a try, but I'm kinda scared of the online fraud. Hihi..

  3. well if the site is unsecured it can pose as a threat...pero HSBC naman sila...big company so i hope their websites are all secure~~

  4. with online banking, you don't have the hassle of writing checks

    standard chartered
    allied bank

    (these are only some of banks with e-banking licenses here)

    online fraud can happen to you even if you don't do online banking

    trust me on this :)

  5. Thanks for the heads up! I see my bank in your list! Will try to avail of it. Thanks again!!