Help me get away from the HSBC

Essenchill

That's not really the point Inactive. I think that stopping them taking the charges by sorting out your finances is probably a great feeling of achievement and not what the bank REALLY wants you to do.

ShelfStacker_3

Essenchill wrote: »

That's not really the point Inactive. I think that stopping them taking the charges by sorting out your finances is probably a great feeling of achievement and not what the bank REALLY wants you to do.

I'm fairly sure banks prefer people not owe them any money at all than owe them lots of money minus a few piffling charges. That's just simple common sense. If banks did work in that way they'd go bust extremely quickly, as they'd just be encouraging bad debts.

At any rate, the OP appears to be blaming HSBC for his situation and is running away from them on that basis, whereas the problem is quite clearly related to his spending and whichever bank he's with they'll take a dim view of him repeatedly exceeding his overdraft limit without warning. I would strongly urge him to stop blaming HSBC for charging him and instead try and work out why he's getting charged in the first place.

YorkshireBoy

ShelfStacker wrote: »

I'm fairly sure banks prefer people not owe them any money at all than owe them lots of money minus a few piffling charges. That's just simple common sense. If banks did work in that way they'd go bust extremely quickly, as they'd just be encouraging bad debts.

Banks want 'revolvers', as that's how retail banking makes a large part of it's profits. They want people who only ever pay the minimum on credit cards, and they want people who only return their current accounts to credit once per month when their salary hits the account.

...OP appears to be blaming HSBC for his situation and is running away from them on that basis

OP will find it very difficult to "run away", because as soon as they do (if they can) HSBC will call in the overdraft. The only option may then be a managed loan on HSBC's terms.

That'll probably demand a higher monthly payment than they're paying now in debit interest (and possibly charges) each month.

There are (generally) only two options...earn more and/or spend less.

Inactive

Essenchill wrote: »

That's not really the point Inactive. I think that stopping them taking the charges by sorting out your finances is probably a great feeling of achievement and not what the bank REALLY wants you to do.

Moving a problem, isn't sorting a problem.;)

Essenchill

By 'stopping them taking the charges' I didn't refer to moving away from HSBC. I kind of meant if you sort the problem out, thereby stopping the charges, you would feel a sense of achievement. Leaving the problem and seeing money taken from you month on month cannot be a good feeling.

Lavendyr

In order for A&L to consider matching your overdraft you need to have operated your previous overdraft responsibly, which I believe they determine as being in credit at least three days of the month for a few months prior to application. Certainly being over your not limit will not constitute "responsible operation" of your overdraft facility, so I highly doubt you will get them to provide the same size of overdraft.

Rather than addressing the symptom (i.e. overdraft charges) you need to address the cause. Why are you not getting yourself back within your OD limit? Are you spending too much each month? See where you can cut down your outgoings and increase your earnings and you'll solve the problem.

richard9991

sorry i hate this bank they used to be the listenig bank then they became hsbc say know more