HSBC Changing all Bank accounts

ahai1

Sorry I was talking about authorised overdrafts. The problem is not with that but it is with the unauthorised overdraft.

I don't see why people who have agreed an overdraft should be put in the same group by some people as people who have not agreed one.

I consider my overdraft of £1500 more than sufficent should I ever need it.

Frankly people who go overdrawn without an authorised overdraft should pay a penalty and they should if neccessary have their accounts terminated as they are a problem to the banks and good customers. I have never and will never take an unauthroised overdraft. That is the reason why I have an authorised one. There are some people who cannot manage their money and they are abusing the banking system not only that they are making life difficult for the honest customers.

never-in-doubt

Lyncroft wrote: »

Been banking with HSBC for years and found them okay. Recently I went over my agreed overdraft by £500 for a day. Got charged £25, but when I said it was an oversight on my part they refunded it without question. Did say they wouldn't don't that again mind.

my god how do you go 500 over your overdraft? I didn't think that was possible......

never-in-doubt

ahai1 wrote: »

Frankly people who go overdrawn without an authorised overdraft should pay a penalty and they should if neccessary have their accounts terminated as they are a problem to the banks and good customers. I have never and will never take an unauthroised overdraft. That is the reason why I have an authorised one. There are some people who cannot manage their money and they are abusing the banking system not only that they are making life difficult for the honest customers.

I also think it is worth mentioning the fact that the banks have made life difficult for the honest customers by being dishonest themselves (Sir Fred anyone?)....

Its not the honest or dishonest customers that change banking, its the banks themselves and for years they have wanted to introduce charged banking (UK [strike]is[/strike] was one of only a few free banking countries in the world) and they are now using the recession/depression as an excuse to introduce it. How customers manage their overdrafts really has little effect, if any whatsoever.

I have an o/d myself and have never used it so I am not a serial overdrafter by any means, but I do see how people can go overdrawn now and again and so what if they do? It dont affect me so I don't care....

:eek:

ahai1

Sir Fred is to blame as it has been suggested but the customers are also to blame as they entered into an agreement not to abuse their current account and some of them have clearly abused it. I know of someone who has no overdraft because she abused it so often the bank had enough with her and it must have cost them a lot with things like sending letters and dealing with the unauthorised overdrafts.

As for free banking I don't think we are going to see the end of it but we will see the current account become a no thrills account with a debit card and a cheque book depending on the bank and some services like overdrafts but things like cheque guarantee cards and a monthly statement and other freebies like statement folders will go.

To be fair the people who talk about the end of free banking fail to understand that the current account is a loss leader and a lot of things like the fresh cash machines are subsidised.

There are some accounts you have to pay for but no bank I can think of will dare to charge for a current account as people will go to a place where they don't charge.

Martin Lewis says we don't have free banking. He is dead wrong we have free banking for people who follow the rules and don't abuse the accounts by taking unauthorised overdrafts.

maggiesden

Hi all, I was wondering if anyone can help me please.....

I currently have a HSBC Plus account which was the only account they could offer me at the time of opening or a Basic which didn't suit my needs.
I currently pay £12.95 a month for this account and in May I will have completed my twelve month contract for the Plus Account, I am wondering will I be able to change this account to an Advance account or will I have to open a new advance account and close the Plus Account.

Thanks in advance

maggiesden

Lokolo

maggiesden wrote: »

Hi all, I was wondering if anyone can help me please.....

I currently have a HSBC Plus account which was the only account they could offer me at the time of opening or a Basic which didn't suit my needs.
I currently pay £12.95 a month for this account and in May I will have completed my twelve month contract for the Plus Account, I am wondering will I be able to change this account to an Advance account or will I have to open a new advance account and close the Plus Account.

Thanks in advance

maggiesden

Just go into branch and say you do not want the Plus but can it just be converted to a normal current account. Thats it. If you put £500/month in it will automatically go to Advance.

ShelfStacker_3

maggiesden wrote: »

I currently have a HSBC Plus account which was the only account they could offer me at the time of opening or a Basic which didn't suit my needs...

Why did they only offer you a Plus account? We have other, free accounts besides Basics. Credit scoring wouldn't be an issue, it's the same for what was then the Bank Account as it is for Plus accounts.

But yes, you can convert down in May. You can if you wish call them now and ask to downgrade, they might charge you a fee for it though.

maggiesden

ShelfStacker wrote: »

Why did they only offer you a Plus account? We have other, free accounts besides Basics. Credit scoring wouldn't be an issue, it's the same for what was then the Bank Account as it is for Plus accounts.

I failed the credit score and they said I could only have a Basic Account which was not suitable for me, or pay for the Plus Account which they provided me with a solo card for this account, with no overdraft. I also already had an online e-saver account and I asked them to change it to a regular saver account that was advertised with the Plus account, but they advised me against it as it wouldn't be worth my while.

I will have completed twelve months with this account on the 18th April, but the £12.95 payments for the account didn't start until June. Since opening the account I have not had an overdraft or offered one with the account, and haven't had any bank charges of any kind and I have just been issued with the new visa card which arrived last wednesday.

ShelfStacker_3

maggiesden wrote: »

I failed the credit score and they said I could only have a Basic Account which was not suitable for me, or pay for the Plus Account

"They" are talking crap. That's clear misselling, and I would complain about that. Plus is strictly an optional product, and it has the same acceptance criteria as our free current account. You're accepted for Plus, you're accepted for Current Account Advance.

never-in-doubt

ldavies wrote: »

Im sure you may find that the test case was ongoing long before the recession kicked in, officially ((( i think))))

We still have a banking system that is free at entry point, we still have a banking system that is quick an easy to use, mostly!, and they way customers use their overdrafts is the first sign of any difficulties they face and although that may have, at first glance, nothing to do with the "normal" customer, it has significant imapct on the lending scorecards across the board. i e if economic climate says that we are in a recession, for example, lending criteria for all will change to reflect this.

Mate come on, we all know the recession was here 10 years ago long before the test case - a recession doesn't happen overnight - I was prepared for it and so were a lot of economists - just a question of 'when' not 'if'......

Seriously though, I know what you mean and I was being clever about Sir Flop - LOL, wasn't meant to be taken literally