IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Unreasonable bank charges
Reply
Views: 481
Thread Tools Search this Thread Display Modes
# 1
KOOKY
Old 16-10-2011, 4:33 PM
MoneySaving Newbie
 
Join Date: Sep 2011
Posts: 3
Default Unreasonable bank charges

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?
KOOKY is offline
Reply With Quote Report Post
# 2
dunstonh
Old 16-10-2011, 5:47 PM
Mega Magnificent Maxi-Meticulous Uber-MoneySaving Magnate
 
Join Date: Apr 2004
Location: Norfolk
Posts: 74,243
Default

Quote:
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 a Financial Adviser. 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.
dunstonh is offline
Reply With Quote Report Post
# 3
Premier
Old 18-10-2011, 5:51 AM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Sep 2005
Posts: 14,874
Default

Quote:
Originally Posted by KOOKY View Post
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?
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.
"Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010

Last edited by Premier; 18-10-2011 at 6:00 AM.
Premier is offline
Reply With Quote Report Post
Reply

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT +1. The time now is 8:06 PM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 27 August 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile
  • My point is less the rights and wrongs, more the tragic irony of the juxtaposition between the two.
  • We fail to intervene when 1,400 girls are sexually abused, but do intervene to imprison family trying to get treatment for their sick son.
  • Do you still print out your photos - PLEASE VOTE http://t.co/apAHZuhdIy

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

TuneChecker Top Albums

  • ED SHEERANX (DELUXE EDITION)
  • VARIOUS ARTISTSNOW THAT'S WHAT I CALL MUSIC! 88
  • SAM SMITHIN THE LONELY HOUR (DELUXE EDITION)

MSE's Twitter Feed

profile
Always remember anyone can post on the MSE forums, so it can be very different from our opinion.
We use Skimlinks and other affiliated links in some of our boards, for some of our users.