HSBC 'Overdraft review' charge

Leew1231

I have my current account with HSBC. I currently have an overdraft facility of £1250, which I am not in. I have received a letter yesterday saying my overdraft has been reviewed, and for the next 13 months my overdraft can stay at £1250. For this pleasure I have been charged £25 for the review of it. Aren't they generous! I don't know if I can cancel it and lose the charge, but I don't really want to with Christmas coming up and the like. I knew there was a charge for a review, but I thought this meant if i requested an increase in overdraft or something like that. I think it's disgusting. Has anyone else had this with other banks? And how can I get out of it?!!

JUNIOR

Try going into the branch and asking for a refund or do it over the phone,i had my O/D review charge refunded with HSBC. cant see the sense in having a service and paying for it ,if you dont use it . plus its a slippery slope when delving into the overdraft , and being charged £150 if you go over :eek: .

This charge is for managing your overdraft ,but if you dont use it ,get rid or drop the limit . If they dont refund the charge , tell them that you are going to close the account and transfer to another bank;)

borgbaiter

hi

from what ive seen posted the charge is only supposed to be applied if youve been over your overdraft in the previous year. ask and they will probably remove it. check the terms and conditions if they dont because im sure its in there someplace about the charge.

hsbc arnt great but none of the other banks ive been with are any better so moving mite just be out of the frying pan and into the fire.


Borgbaiter