hsbc overdraft arrangement fees

CONFUSED_5-2

Hi.. i really hope im posting this in the right place.....
Just checked my online statement and i have been charged an over draft arrangement free of £25, now i do go into my over draft a lot but i havent gone over it and havent upp'ed recently so this charge to me is completely out of the blue! before i phone up and start ranting over things i really dont understand :mad: does any1 have any ideas? i dont think i got any letter but then i have recently moved house so might have been lost on route. pls help.

Laura

ldavies_3

It could be the arrangement fee.. The bank has began reviewing od s on an annual basis and charging £25 to renew..

You should have received a letter about it.

Pop onto the phone or into the branch and they will be able to tell you

littleangels3

i pay arrangement fee of £25 every month with hsbc.

ShelfStacker_3

littleangels3 wrote: »

i pay arrangement fee of £25 every month with hsbc.

Are you going over your limit? If so, understandable that the fee's being charged; if not, bloody weird, and you should speak to someone at the bank ASAP.

ldavies_3

littleangels3 wrote: »

i pay arrangement fee of £25 every month with hsbc.

that wont be an arrangement fee.... that will be for going over your limit.

if not, pop in to the branch and check it out

Manicgirl

Unfortunately for you it is an arrangement fee.

HSBC sent me a letter saying they were 'reviewing my overdraft facilities'. 5 pages later, the outcome of this 'review' concluded that no changes needed to be made. On page 6 it told me they were charging me £50 for this 'review'. I complained to HSBC, as I have never gone over my overdraft limit, and actually only used it once or twice in about 5 years. They said if I wanted the overdraft to remain I had to pay the £50, despite my pleas.

So I had a bit of a strop and said I didn't need it anyway. 3 months later, I've gone overdrawn twice and therefore been charged £25 twice. So much for standing my ground!

Sharon87

Yep I got charged a few months ago for the fee. I phoned them (not the 08 number though ), and they explained that it was because they annually review my overdraft, now it's a graduate account, but they basically did nothing, they left my overdraft as it is. I'd sort of understand it if they increased or decreased it (although that would be annoying), but for doing nothing is ridiculous.

I'll be expected to be charged next September, as the interest free portion of my overdraft limit should be going down then.

kritters

I got charged £125 for something (not sure what as i cant find any letter about it) - also to top that off, the charged me another £25 for the honour of them putting me futher into the red with my overdraught. So now i'm £150 down (on top of my original overdraught debit) before i even see my wages this month, right before xmas.

Absolutely fantastic!! :mad: :mad:

Rich1976

Manicgirl wrote: »

Unfortunately for you it is an arrangement fee.

HSBC sent me a letter saying they were 'reviewing my overdraft facilities'. 5 pages later, the outcome of this 'review' concluded that no changes needed to be made. On page 6 it told me they were charging me £50 for this 'review'. I complained to HSBC, as I have never gone over my overdraft limit, and actually only used it once or twice in about 5 years. They said if I wanted the overdraft to remain I had to pay the £50, despite my pleas.

So I had a bit of a strop and said I didn't need it anyway. 3 months later, I've gone overdrawn twice and therefore been charged £25 twice. So much for standing my ground!

It states in HSBC'S terms and conditions that you only pay the £25 review fee if you have made more than one request for an overdraft in the previous 6 months, which I presume also incudes asking for the limit to be increased. Please can one of the HSBC employees on here confirm if that is the case. I have an overdraft with HSBC which I have never used but would be very cross if I had to pay £25 just to keep the facility for another 12 months. My od is due to be reviewd in February.

ShelfStacker_3

kritters wrote: »

I got charged £125 for something (not sure what as i cant find any letter about it) - also to top that off, the charged me another £25 for the honour of them putting me futher into the red with my overdraught. So now i'm £150 down (on top of my original overdraught debit) before i even see my wages this month, right before xmas.

Absolutely fantastic!! :mad: :mad:

£125 would require you to have gone over your overdraft limit at least 5 times (5 x £25 = £125) and to also have been over your limit by more than £125, as the fees are capped at the size of your overlimit balance.

So, basically, no love.

Sharon87

Rich1976 wrote: »

It states in HSBC'S terms and conditions that you only pay the £25 review fee if you have made more than one request for an overdraft in the previous 6 months, which I presume also incudes asking for the limit to be increased. Please can one of the HSBC employees on here confirm if that is the case. I have an overdraft with HSBC which I have never used but would be very cross if I had to pay £25 just to keep the facility for another 12 months. My od is due to be reviewd in February.

I saw that and they told me over the phone it was an annual thing and that was basically a fee so I could keep my OD (interest free graduate account) for another year. After that year they'll review it again, as they decrease the limit of interest free £500 a year.