Warning to HSBC Graduate Account Holders

djhworld

I got a big letter through the post today detailing their policy on the interest free overdraft facility.

While the company are pleased to offer me the full amount (interest free) for at least another year, they're planning to charge me a £25 "arrangement fee" for their troubles in doing so.

This will occur on October the 6th.

Just thought I'd give this as a warning to those who have a HSBC graduate account.

So on that note, time to move to Natwest I think!

reehsetin

i thought mine said that it will only charge an arrangement fee if i change the overdraft amount, hmmmm, may have to grab it out and recheck it

djhworld

reehsetin wrote: »

i thought mine said that it will only charge an arrangement fee if i change the overdraft amount, hmmmm, may have to grab it out and recheck it

It might be different with yours, but with mine is clearly states that an Arrangement Fee of £25 will be deducted shortly after the date. Even though the amount is exactly the same, there have been no changes.

£25 for some goon in London or somewhere to click a few buttons and enjoy the profit of these "arrangement fees".