Which banks allow a SMS alert to be set when balance drops to a certain point?

abssorb

I'm with HSBC for many of my accounts, have been since Midland bank was taken over. The current account is used for day to day and bill paying, and my salary goes into it. I usually try and keep it lean, skimming funds into savings via standing order and aiming to get fairly close to zero at the end of the month, with an overdraft for a buffer.

I have asked a number of times over the years if the bank could alert me when my balance fell below a certain point, the first being when on-line banking arrived and emails were possible. But of course, they know we don't check our accounts every day and want us to fall into debt, because it's big business.!

But HSBC started charging for the overdraft, so I dropped it and decided to set my personal aim to £500 instead. Didn't really like "giving them" £500 to play with but hey-ho. This month there was a problem with my salary transfer (originating account also HSBC), and I went overdrawn by a few days. I've now got a £150 "informal overdraft arrangement fee", which I feel is outrageous, so, I'm going to move somewhere better.

I believe there are banks out there that will text / email alerts. Can anyone recommend some? Preferably where I don't also have to suffer spam texts in the same service.

lyverbyrd_2

Natwest do this with no spam texts...don't HSBC have this service too though?

SuiDreams

First Direct allow you to set up text message alerts and 1st £250 of overdraft is Free.

abssorb

As far as I can tell, HSBC only have this on their premium service. I haven't paid for that because I already have all the major benefits from other sources.

Aren't first direct owned by HSBC?


The point is I'm going to move anyway. The way HSBC treats customers has declined steadily over the years, so any recommendations are very welcome. I'll have a look at Natwest. Any more?

SuiDreams

abssorb wrote: »

Aren't first direct owned by HSBC?

yes they are

dougz_2

abssorb wrote: »

This month there was a problem with my salary transfer (originating account also HSBC), and I went overdrawn by a few days. I've now got a £150 "informal overdraft arrangement fee", which I feel is outrageous, so, I'm going to move somewhere better.

How did they work that out? According to this price list the arrangement fee is only £25
http://www.hsbc.co.uk/1/PA_1_5_S5/content/uk/pdfs/en/bank_acct_cards_trav_0708.pdf

ShelfStacker_3

HSBC do it now, as well as First Direct.

Kavanne

000

lyverbyrd wrote: »

Natwest do this with no spam texts...don't HSBC have this service too though?

You have to pay for it though

ShelfStacker_3

dougz wrote: »

How did they work that out? According to this price list the arrangement fee is only £25
http://www.hsbc.co.uk/1/PA_1_5_S5/content/uk/pdfs/en/bank_acct_cards_trav_0708.pdf

My guess is that he made six transactions which took him over his overdraft limit, resulting in an informal overdraft of at least £150 (HSBC cap monthly fees at the highest informally overdrawn balance each month).

Of course, he's the victim here, right?

altocumulus

Lloyds do, but only on their Premier account (which means, ofc, a monthly subscription)....

Helix

altocumulus wrote: »

Lloyds do, but only on their Premier account (which means, ofc, a monthly subscription)....

You can pay £2.50 a month to add it onto their other accounts as well.