Hsbc

moneysavingallday

just click on the amend overdraft link and ask for the limit you want

DanDan123

I have a feeling that if i were to apply for anything now, then it would decline as there has been no money going into the account yet.
They told me when i was opening my account that £200 was avaliable so thats all i want them to add.
Anyone from HSBC know why this would happen?

moneysavingallday

if you read my reply here you will know the same thing happened to me. £1500 was available but they botched it up and I wound up with £0. Some stern words from me and I got my £1500.

ldavies_3

Overdraft applications are instant.. is it possible that you had new staff who are learning?.. not that this is acceptable just that the system is quite difficult to navigate and anyone who is experienced knows what to do. be careful of multi applications as this leaves footprints on credit files.

moneysavingallday

Since the OP already has the account a subsequent search for an OD is probably a "soft" search or "enquiry"

ldavies_3

moneysavingallday wrote: »

Since the OP already has the account a subsequent search for an OD is probably a "soft" search or "enquiry"

Are you sure? its down to due diligence, money laundering and FSA regulations..

all searches are recorded and anyone else who searches has access to this info but not the reason for the search. If a financial institution was searching, its usually for the purpose to check lending /borrowing stats

DanDan123

ldavies wrote: »

Overdraft applications are instant.. is it possible that you had new staff who are learning?.. not that this is acceptable just that the system is quite difficult to navigate and anyone who is experienced knows what to do. be careful of multi applications as this leaves footprints on credit files.

The person i saw first in branch was very helpful, but could well have been new. However on the first occasion my overdraft was not actioned. I went to the branch again today, and saw someone different. My overdraft still hasnt been actioned. Although a letter confirming that my overdraft has been set-up and confirming terms and conditions of my ZERO overdraft was sent out today from the branch (according to the telephone helpline).

I dont understand why its still not done, and why a letter saying that my overdraft has been set to ZERO would be sent out in the first place.

I would have thought if there was an issue, then it would be standard practice to call?!

moneysavingallday

ldavies wrote: »

Are you sure? its down to due diligence, money laundering and FSA regulations..

all searches are recorded and anyone else who searches has access to this info but not the reason for the search. If a financial institution was searching, its usually for the purpose to check lending /borrowing stats

I'm with HSBC. Since opening my account, they've had to credit search me three more times for additional products they've given me (Overdrafts, credit card etc). Each time it's been a "soft" search that other lenders can't see. I know this direct from teh horse's mouths so to speak - Equifax, Experian and Callcredit (not that HSBC go near Equifax)

So, yes it is so...

moneysavingallday

DanDan123 wrote: »

The person i saw first in branch was very helpful, but could well have been new. However on the first occasion my overdraft was not actioned. I went to the branch again today, and saw someone different. My overdraft still hasnt been actioned. Although a letter confirming that my overdraft has been set-up and confirming terms and conditions of my ZERO overdraft was sent out today from the branch (according to the telephone helpline).

I dont understand why its still not done, and why a letter saying that my overdraft has been set to ZERO would be sent out in the first place.

I would have thought if there was an issue, then it would be standard practice to call?!

Well I've answered your questions. If you choose to ignore what I'm saying ok. Good luck.

ldavies_3

I know though once the application is done, there is no reason to go back over the paperwork until it is credit checked by the manager and as the od is not there, there is no credit check to be done.. a bit of a circle really and inexcusable to be honest, even for a new member of staff who maybe should have checked more thoroughly.