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  • FIRST POST
    KOOKY
    Unreasonable bank charges
    • #1
    • 16th Oct 11, 4:33 PM
    Unreasonable bank charges 16th Oct 11 at 4:33 PM
    I have two bank accounts with HSBC one I use as a current account and the other for bill payments (of which I dont have a card for).

    I have accidently carried on a standing order from my current account to my bills account putting me way overdrawn for three days (I have recently moved house and have my rent going out of the current account directly instead of placing in the other account first- just forgot to cancel the standing order from myself to mysef)

    This meant my other account had loads of money in it and the current account was in debt.

    I made three transactions for a fewpounds during the three days that I hadnt checked my bank account to notice the mistake. Now I am being charged £25 per each transaction equating to £75.00 in total.

    I appealed to HSBC highlighting my error as soon as I had moved the funds back into the right account and they will not waive this fee.

    How can I further appeal against this charge?
Page 1
    • dunstonh
    • By dunstonh 16th Oct 11, 5:47 PM
    • 82,283 Posts
    • 47,378 Thanks
    dunstonh
    • #2
    • 16th Oct 11, 5:47 PM
    • #2
    • 16th Oct 11, 5:47 PM
    How can I further appeal against this charge?
    You cant. Those days have gone.

    Most banks will refund if it is your first offence (some allow one error a year). If they are refusing, then it suggests it is not your first error or perhaps they are not interested in refunding you for other reasons (unprofitable account, short history with bank etc).
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • Premier
    • #3
    • 18th Oct 11, 5:51 AM
    • #3
    • 18th Oct 11, 5:51 AM
    I have two bank accounts with HSBC one I use as a current account and the other for bill payments (of which I dont have a card for).

    I have accidently carried on a standing order from my current account to my bills account putting me way overdrawn for three days (I have recently moved house and have my rent going out of the current account directly instead of placing in the other account first- just forgot to cancel the standing order from myself to mysef)

    This meant my other account had loads of money in it and the current account was in debt.

    I made three transactions for a fewpounds during the three days that I hadnt checked my bank account to notice the mistake. Now I am being charged £25 per each transaction equating to £75.00 in total.

    I appealed to HSBC highlighting my error as soon as I had moved the funds back into the right account and they will not waive this fee.

    How can I further appeal against this charge?
    Originally posted by KOOKY
    HSBC operate what they term a 'fair fees policy'

    One term of this is that they won't charge you any arrangement fees if the amount borrowed is less than £10. So unless your 'few pounds' was greater than £10, then ask the bank to review the charges in line with their own fair fees policy

    Another part of that is that the arrangement fees charged will not exceed the amount borrowed.
    So unless your 'few pounds' was in fact more than 25 on each occassion, then ask them to review the charges in line with their fair fees policy.

    And yet another part of their fair fees policy is that they don't charge you for the first overdraft requerst (formal or informal) within the last 6 months. So if this is the first time you have asked for an overdraft, then again ask the bank to review the charges in line with their own fair fees policy
    (That won't get all the fees back, but should get the first one refunded )

    If none of the above applies to you, perhaps you would be kind enough to furnish us with the full facts of your borrowing, and the reasons why you believe the charges for that borrowing to be unreasonable, so that we can provide you with appropriate advice.
    Last edited by Premier; 18-10-2011 at 6:00 AM.
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