HSBC, Criminals

dirtydavey

I have over the last few months had so many problems with HSBC bank that I have moved away to another bank. Somthing I never thought I would do.

Any way, I am now being payed into a new account.

But I have left open the HSBC account, as I have to loans payout of that account on pay day, so I thought, I would just move the required amounbt from my new bank to HSBC every month.

I did this by going to HSBC and pautting the money into my account on the day the loans are to go though. The 19th (pay day). I checked on line and noticed both had left my account and that the money had gone in fine.

The next day both where returned, and I was charged 25 quid for each by the bank, plus 12 quid each by the lender. I rang HSBC to ask why, they told me that I did not have the money in the account. I pointed out that I did have the money in the account. They said that it had to be in the account by a cut off of 3.30pm, it was in by 12.30 so was in, in plenty of time. They then said that I should have rung them to tell them that it had been put into my account.!!!

Has any one heard of this before?

Dave

Lokolo

I thought this was about HSBC actually being criminals.

I can't really say much but it was pretty stupid to put money in the day the loans go out. They will check the account from midnight - early hours of the morning. They will then send out letters and charges, theres a lot of processing to do during working hours with people using their accounts, so they tend to do it in the early hours.

I don't see how you can expect to put money in at midday on the day of the payback and it expect everything to run smoothly.

A lesson to be learnt I would say.

Put money in before the day of the transaction.

Also - to = 2, and payed = paid.

akashi

dirtydavey wrote: »

They said that it had to be in the account by a cut off of 3.30pm, it was in by 12.30 so was in, in plenty of time.

Do you have the name of the person, who said the cut-off time was 15:30?

I would say find out again for sure that the cut-off is 15:30 and once confirmed write a complain to HSBC.

If they don't refund your charges, write to the Financial Ombudsman Service (FOS). HSBC will most likely give you the address for FOS with their reply.

Good luck.

ShelfStacker_3

How did you pay it in? Did you pay it in over the counter, or using a deposit machine where you put the money and a slip in an envelope, then put it into a machine? If the latter, then the money could well have only been credited after 3:30pm.

However, as Lokolo said, the day before is always safest - you were cutting it pretty fine by only paying in on the day.

moneysavingallday

How does this make HSBC criminals??

Scousebird_2

akashi wrote: »

Do you have the name of the person, who said the cut-off time was 15:30?

I would say find out again for sure that the cut-off is 15:30 and once confirmed write a complain to HSBC.

If they don't refund your charges, write to the Financial Ombudsman Service (FOS). HSBC will most likely give you the address for FOS with their reply.

Good luck.

The FOS will not take on this case as it states in the terms and conditions of a current account that you must ensure cleared effects are in the account, the working day BEFORE the item concerned is paid-otherwise unfortunately, and return fee is levied. Doesn't mean I support it but that's the rules sadly!!

Extant

moneysavingallday wrote: »

How does this make HSBC criminals??

I'd quite like to hear the answer to this, too.

The simple fact of the matter is this: direct debits are batch processes and the money tends to be requested early in the day, starting at midnight. If you don't have the money there at that point, then the unpaids process is started.

The fact that you pay money in the same day is irrelevant - if you have no money in your account and try to spend £10,000 on your debit card, it will naturally be declined. Why would you hold this to be any different?

dirtydavey

Lokolo wrote: »

I thought this was about HSBC actually being criminals.

I can't really say much but it was pretty stupid to put money in the day the loans go out. They will check the account from midnight - early hours of the morning. They will then send out letters and charges, theres a lot of processing to do during working hours with people using their accounts, so they tend to do it in the early hours.

I don't see how you can expect to put money in at midday on the day of the payback and it expect everything to run smoothly.

A lesson to be learnt I would say.

Put money in before the day of the transaction.

Also - to = 2, and payed = paid.

Do you talk to every one like that?

I am dylexic, I am sure I dont need to have a spelling lesson from you. But thanks!

I have banked with HSBC for 10 years and have never once been told this was the case. Infact the bank them selfs have since addmitted that it says nothing of the sort in my terms and condisions, what it does say is that money must be in the account by midday. And it was, the only mistake I made, is that I am ment to ring them to tell them this. How I was ment to know is I have no idea.

But thanks for your help.

dirtydavey

akashi wrote: »

Do you have the name of the person, who said the cut-off time was 15:30?

I would say find out again for sure that the cut-off is 15:30 and once confirmed write a complain to HSBC.

If they don't refund your charges, write to the Financial Ombudsman Service (FOS). HSBC will most likely give you the address for FOS with their reply.

Good luck.

I did get the money back by the way

wheelel

Lokolo wrote: »

I thought this was about HSBC actually being criminals.

I can't really say much but it was pretty stupid to put money in the day the loans go out.

...

Also - to = 2, and payed = paid.

I'm not sure why lokolo has been thanked for this post?? It comes across as rude in my book, and certainly not very helpful.

Idiophreak

dirtydavey wrote: »

I did get the money back by the way

Don't get me wrong, I hate HSBC as much as the next guy...But given that you complained...and they gave the money back, doesn't it seem a little harsh to be calling them criminals?

FWIW, I'd certainly have thought it wasn't the smartest idea to pay it in on the same day. Whether you're supposed to be able to do it or not, these banks will take any chance you give them to smack you with fees, so it's always best to avoid giving them a sniff...