Financial hardship

kirsty000

I wrote to hsbc to claim my charges back, about £300, and also told them I was in financial hardship and gave them my income and outcome which shows that I am. I thought that banks had to look at cases of financial hardship and not wait until the end of the test case but they told me they didnt have to look into it yet. I sent and email saying i would contact the financial ombudsman and I got this reply:

" Please be advised that the Court of Appeal has confirmed that our terms and conditions relating to unarranged overdraft fees will be assessed for fairness under the Unfair Terms in Consumer Contracts Regulations 1999 ("UTCCRs"). We are considering the implications of this decision and will update you as soon as we can. Please also note that customer complaints regarding overdraft charges will remain on hold until the test case is completed. "

Are they right in saying financial hardship claims are on hold? What should I do next?
Thanks

hairbrain05

I'd contact them & advise them as this is a Hardship case you want them to deal with it before the case is settled. If they refuse or decide your not a hardship case I'd refer to the Financail Ombudsman.

I have a case with the FO currently against RBS. Not sure what the outcome will be, however they have told me they awaiting some info from RBS then an adjudicator will make a judgment in around 5wks. Worth a try!

darren1217

call fsa 0845 080 1800
i had the same problem with halifax to me no such thing as Financial hardship
phoned fsa and they are writing to my banks head office

catmiaow

FSA were no help for me Darren, I am in same situation as you.

kirsty000

Ive emailed hsbc telling them that cases of financial hardship should bee looked into before the end of the test case and that if they dont look into it then ill be contacting the FO. and ive also written to the fo. ill let you know what happens

NSF1965

paolaenergya wrote: »

I got a refund for a bounced cheque on my Nationwide Business Investor account and a refund for exceeding my agreed overdraft on my Flex Account (current account) with Nationwide.

Wow someone has got some money back off Nationwide, albeit sounds a small amount.

I'm on benefits and the FOS agree with Nationwide that I have to wait till the test case is complete!! :mad: GUTTED AND SKINT.

natweststaffmember

NSF1965 wrote: »

Wow someone has got some money back off Nationwide, albeit sounds a small amount.

I'm on benefits and the FOS agree with Nationwide that I have to wait till the test case is complete!! :mad: GUTTED AND SKINT.

If your situation worsens further then you can go back to the bank at any time.

natweststaffmember

darren1217 wrote: »

call fsa 0845 080 1800
i had the same problem with halifax to me no such thing as Financial hardship
phoned fsa and they are writing to my banks head office

If you rang them then they would. Always do things in writing to their Head Office.

NSF1965

natweststaffmember wrote: »

If your situation worsens further then you can go back to the bank at any time.

Would I not need to approch the FO again first?

natweststaffmember

NSF1965 wrote: »

Would I not need to approch the FO again first?

You approach the bank first and then the FOS

esmerellda

If you are in serious financial difficulty you will be considered - this means pending reposession and the like. Being on benefits won't necessarily count as it depends on all your other circumstances as well.

Did the bank do anything else to assist with your hardship, such as move you to a basic account, sort out repayments on overdrafts at an affordable rate, stop future charges...that is, unfortunately, all they are obliged to do under the waiver terms, hardship refunds are with most of the banks only given if they are needed to sort out an immediate problem.

If you are in hardship, then the other measures they may take should still help you sort things out.