HSBC Banking

milfordmadness

Hi

Just wondering, if as a new HSBC customer (like me), they've restricted my account in any way or whether I do actually have full current account?

Basically, I have a Plus account with black debit card (Maestro) and this is a £100 chq guarantee card as well. Thing is, I thought these worked like switch in that authorisations can take 3 days to show but with mine they show within a second of making purchase.... just wondering if HSBC have two type of card; authorise all or floor limit cards?

Also, does it take time for me to have a bahaviour score? I've had account since December and I get paid weekly so have about £4k per month going through account, 12 direct debits, 2 standing orders to HSBC savings accounts and hardly use atm and always have a balance (got no overdraft).

On that note, whenever I click the 'apply for - > Overdraft' link from HSBC Online Banking, I get the following message;

Click here to see full size (New Window)

Is this normal? Does the screen print image look right to other HSBC customers or is this because they've put a lending block against me or something? Thing is I thought i'd still be allowed to apply if even to get told no! I wonder if this is because i'm new and have a zero behaviour score or something mad! As I say, run account great with loads of transactions plus weekly pay always in excess of £500 per week and loadsa direct debits etc..... just confused as to why this message seems so "final", so to speak!

Thanks for any help - much appreciated :-)

rb10

When you say they show up within a second of making the purchase, do you mean that they money shows as leaving your account straight away, i.e. you have a line on your statement immediately that says something like 'Debit Card - [shop name] - £x.xx'?

Or does it just reduce your available balance straight away, and then a few days later the line in your statement will appear with the actual transaction details? This is the normal way, as even for Visa Debit cards (which do not have to be authorised) the retailer will normally get authorisation from the bank.

milfordmadness

rb10 wrote: »

When you say they show up within a second of making the purchase, do you mean that they money shows as leaving your account straight away, i.e. you have a line on your statement immediately that says something like 'Debit Card - [shop name] - £x.xx'?

No - it does this after about 2/3 days

Or does it just reduce your available balance straight away, and then a few days later the line in your statement will appear with the actual transaction details? This is the normal way, as even for Visa Debit cards (which do not have to be authorised) the retailer will normally get authorisation from the bank.

It reduces balance by te amount i've spent! Or rather the wifes spent lol

Thanks - do you know about online banking message as shown?

simax

milfordmadness wrote: »

Hi

Just wondering, if as a new HSBC customer (like me), they've restricted my account in any way or whether I do actually have full current account?

Basically, I have a Plus account with black debit card (Maestro) and this is a £100 chq guarantee card as well. Thing is, I thought these worked like switch in that authorisations can take 3 days to show but with mine they show within a second of making purchase.... just wondering if HSBC have two type of card; authorise all or floor limit cards?

Also, does it take time for me to have a bahaviour score? I've had account since December and I get paid weekly so have about £4k per month going through account, 12 direct debits, 2 standing orders to HSBC savings accounts and hardly use atm and always have a balance (got no overdraft).

On that note, whenever I click the 'apply for - > Overdraft' link from HSBC Online Banking, I get the following message;

Click here to see full size (New Window)

Is this normal? Does the screen print image look right to other HSBC customers or is this because they've put a lending block against me or something? Thing is I thought i'd still be allowed to apply if even to get told no! I wonder if this is because i'm new and have a zero behaviour score or something mad! As I say, run account great with loads of transactions plus weekly pay always in excess of £500 per week and loadsa direct debits etc..... just confused as to why this message seems so "final", so to speak!

Thanks for any help - much appreciated :-)

They'll need to see the account running like this for at least 4-6 months before creating a behaviour score most probably.

rb10

milfordmadness wrote: »

Thanks - do you know about online banking message as shown?

I don't use HSBC myself, so I have no idea about the overdraft message I'm afraid.

Just to expand on the authorisation part though - it is working in the normal way, although maybe HSBC just display it in a different way to that which you are used to.

When you make a purchase, the retailer will normally authorise the card (regardless of the type of card). When the bank gets the authorisation request through, then if they approve it and the transaction goes ahead, they will then reduce your available balance by that amount, effectively 'reserving' the money for that purchase. Then, often up to a few days later, the retailer will collect the money, and at that stage the line appears on your statement.

Most banks will have an 'available balance' and an 'account balance'. The available balance is normally what they will let you spend now. So if you have money 'reserved' for a debit card transaction, it won't include this. The account balance, meanwhile, should, as the money has not technically left your account yet.

Hope that makes it a little clearer!

Lokolo

Below an exmaple of what rb10 is explaining

noah271007

Unfortunately HSBC tend to be fickle and want to see you managing well with your account for 4-6 months, most likely 6 months before they can offer you further credit facilities. I think most banks do this so that they will know more about your circumstances.
I just joined Lloyds beginning of January and last week applied for a credit card balance transfer. Today i was informed that my application has been unsuccessful simply because I only have been with Lloyds one month. (even though i have an extensive credit history going back 10 years!).

Just manage your account well in the next 6 months i would say (4 months is a tad early) and hopefully HSBC will look on you favorably and give you credit facilities.

milfordmadness

noah271007 wrote: »

Unfortunately HSBC tend to be fickle and want to see you managing well with your account for 4-6 months, most likely 6 months before they can offer you further credit facilities. I think most banks do this so that they will know more about your circumstances.
I just joined Lloyds beginning of January and last week applied for a credit card balance transfer. Today i was informed that my application has been unsuccessful simply because I only have been with Lloyds one month. (even though i have an extensive credit history going back 10 years!).

Just manage your account well in the next 6 months i would say (4 months is a tad early) and hopefully HSBC will look on you favorably and give you credit facilities.

Thanks for the help and advice - makes crystal clear sense now. So in essence, after 6mth my screen to apply for overdraft may change to allow me to apply for it then? If anyone has a screen print of this page it'd be handy - just thought i'd been treated differently but seems not then :-)

milfordmadness

Lokolo wrote: »

Below an exmaple of what rb10 is explaining
IMAGE REMOVED FOR SPACE SAVING

Thanks for posting this info - much appreciated and very helpful. Can I be cheeky and ask if you'd post up the same page as I did with the overdraft service - just want to see how it should look if you get my drift :-) Obviously cancel out before applying LOL :j

milfordmadness

rb10 wrote: »

When you make a purchase, the retailer will normally authorise the card (regardless of the type of card). When the bank gets the authorisation request through, then if they approve it and the transaction goes ahead, they will then reduce your available balance by that amount, effectively 'reserving' the money for that purchase. Then, often up to a few days later, the retailer will collect the money, and at that stage the line appears on your statement.

Most banks will have an 'available balance' and an 'account balance'. The available balance is normally what they will let you spend now. So if you have money 'reserved' for a debit card transaction, it won't include this. The account balance, meanwhile, should, as the money has not technically left your account yet.

Hope that makes it a little clearer!

Thanks for this - crystal clear. Its how mine looks so this makes it seem that my account is a 'normal' one!

Thanks again for fast response and detailed explanation.....

Lokolo

Not sure if it'll be the same as if someone doesn't have an overdraft. I literally just clicked on Amend Overdraft on the left hand side and this is what then shows.