Confused about HSBC Charges... Help :(

emma_spaghetti

Hi there,
I was wondering if someone could help me?

I finished Uni in May 08, and HSBC automatically switched my account to a current account. As they allowed me to keep my £1000 student overdraft, they charged me interest every week of about £7 for being in my agreed overdraft.
They also wrote to tell me they had 'reviewed my overdraft' and I was allowed to keep it, which cost arrangement fee of £25 or something....

Now, I have upgraded the account to a graduate around the 6th Oct ish and have had the following charges. Just wondered if someone could explain to me what they were for, or whether they're even legally allowed to charge this much as it seem rather unfair considering I haven't long left Uni?!?!:

6th Oct: OD Arrangement fee: £25
16th Oct: Pre notified fees and charges to 24th Sept: £75
15th Nov (not come out yet): Debit Interest and Arrangement fees: £77.01

Any help would be much appreciated!
Thanks,
Emma

nickmack

emma_spaghetti wrote: »

6th Oct: OD Arrangement fee: £25
16th Oct: Pre notified fees and charges to 24th Sept: £75
15th Nov (not come out yet): Debit Interest and Arrangement fees: £77.01

It sounds like you have exceeded an agreed limit. HSBC only charge the OD arrangement fee if you've exceeded your limit since the last review.

The fees and charges will probably be for transactions that caused you to exceed that limit. Can you see those on your statement?

You need to read Martin's Reclaim guide and decide what course of action you may want to take. The link is in my signature.

emma_spaghetti

Hi, Thanks for the reply.

I have looked into sending off a letter to find out what charges have been occurred in the last 6 years and look at reclaiming them. I'm just not sure of my chances as I already have an agreed overdraft with them, as have read through martin's reclaim form with an overdraft, and the last thing I want is for them to take it away from me!

wilf55

hsbc didnt take my overdraft away from me and last year paid my charges! I have since asked for more charges back and they still havent took away my overdraft

good luck
debs

emma_spaghetti

Thanks for the reply, I've gone to the bank and asked them to send me all charges from the past 6 years- Fingers crossed I'll get them back and thanks for your help! :j

roseydosey

Hi, can someone please advise me.....I am confused about the current situation with claiming back charges, my local HSBC branch manager told me that they have appealed against the court's ruling regarding charges and I would have to wait in the queue (sp) for a decision. Is this the case now? Thanks in advance.

emma_spaghetti

As far as I know a court case started yesterday to determine whether the case of charging people for going overdrawn is unlawful or not... But I've read that it is still worth 'joining the queue' even though the case has begun. I'm not sure if this means all claims are on hold until the court case ends?