hsbc overdraft arrangement fees

ldavies_3

As harsh as it may be, all the above is correct. there is a £25 fee for every time a transaction takes you either over your limit or deeper over the limit.. this is capped at £150 per month. Bare in mind that this is always a month in arrears so if you have gone over limit since your last statement, this will incur fees payable next month.

There is a fee for reviewing od limits only if you have not changed the limit or gone over it in the last 6 months. This is pretty much non negotiable and you need to send a letter in to head office for any refund request.

I come accross many people who are spitting fire because of the od fees yet they take out cash from the HSBC machine which clearly tells them they will be charged for contnuing with the transaction.. not only that, but they are taking £10 out a time!! if you really need to do this, take out enough cash to justify the fee

Rich1976

ldavies wrote: »

As harsh as it may be, all the above is correct. there is a £25 fee for every time a transaction takes you either over your limit or deeper over the limit.. this is capped at £150 per month. Bare in mind that this is always a month in arrears so if you have gone over limit since your last statement, this will incur fees payable next month.

There is a fee for reviewing od limits only if you have not changed the limit or gone over it in the last 6 months. This is pretty much non negotiable and you need to send a letter in to head office for any refund request.

I come accross many people who are spitting fire because of the od fees yet they take out cash from the HSBC machine which clearly tells them they will be charged for contnuing with the transaction.. not only that, but they are taking £10 out a time!! if you really need to do this, take out enough cash to justify the fee

Why doesn't it state in the terms and conditions then that the £25 fee will be payable regardless of whether a customer has remained in credit or not for the past 12 months? It just states that the fee is payable if you have made more than one request. So surely HSBC is breaking its own terms and conditions if this is the case? I totally understand why people who exceed their overdraft limit would be charged but I have never even gone overdrawn once in 9 months of being with HSBC and only have the overdraft set up in case it does happen so if I were charged £25 then really that is not acceptable.

Lokolo

Well they have only just implemented the system so its not going to work first time is it?

If you have not extended or asked to extend your overdraft in the last 12 months or whatever, and have been charged, just go in and asked for it to be refunded. Not difficult.

ldavies_3

Rich1976 wrote: »

Why doesn't it state in the terms and conditions then that the £25 fee will be payable regardless of whether a customer has remained in credit or not for the past 12 months? It just states that the fee is payable if you have made more than one request. So surely HSBC is breaking its own terms and conditions if this is the case? I totally understand why people who exceed their overdraft limit would be charged but I have never even gone overdrawn once in 9 months of being with HSBC and only have the overdraft set up in case it does happen so if I were charged £25 then really that is not acceptable.

A request meaning an informal request for an overdraft.. ie you have gone over your limit and the bank have honoured the payment.

You are able to put a stop to informal requesting if you call them and let them know.. In that instance they would bounce and not honour any card payment that would take you overdrawn.