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HSBC basic account
Katerose_2
Posts: 18 Forumite
My husband and I have a joint bank account with HSBC. It's a basic account, with no overdraft facility or cheque book etc.
When I opened the account, I was under the impression there were no charges for things like bounced direct debits or standing orders. I also read something online about a £10 free buffer zone. I went into my branch and asked what the free buffer zone was, and also if it was possible to have a small overdraft facility on the account, as a safety net.
The advisor in the branch said she didn't know what a buffer zone was and that there wasn't one on our account, and also that as it is a basic account then we can't have an overdraft (I knew this anyway but thought I'd ask anyway).
She also told me something quite worrying - she said that if a direct debit or standing order gets returned 3 times, the account will close without notice to me or my husband.
I am really confused as I can't find this anywhere in terms and conditions, and last week a direct debit bounced, this is the first time it had happened, and it wasn't our fault, it was Sky digital's fault who took it out a month early.
Does anybody know where I can find out more about the account and what happens if 3 direct deits or s/o's get returned? As this has worried me.
When I opened the account, I was under the impression there were no charges for things like bounced direct debits or standing orders. I also read something online about a £10 free buffer zone. I went into my branch and asked what the free buffer zone was, and also if it was possible to have a small overdraft facility on the account, as a safety net.
The advisor in the branch said she didn't know what a buffer zone was and that there wasn't one on our account, and also that as it is a basic account then we can't have an overdraft (I knew this anyway but thought I'd ask anyway).
She also told me something quite worrying - she said that if a direct debit or standing order gets returned 3 times, the account will close without notice to me or my husband.
I am really confused as I can't find this anywhere in terms and conditions, and last week a direct debit bounced, this is the first time it had happened, and it wasn't our fault, it was Sky digital's fault who took it out a month early.
Does anybody know where I can find out more about the account and what happens if 3 direct deits or s/o's get returned? As this has worried me.
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Comments
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Closing basic bank accounts after three failed direct debits appears to be quite common. Several banks are reportedly doing the same.
It might not be mentioned specifically in the terms and conditions, but there will be a bit that says they can close your account with x no of days notice. All banks have such a clause.0 -
It's true that HSBC close your account if you have 3 unpaid items, also The Co-Operative bank do the same.0
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Is that 3 unpaid items within a certain timescale, or just, ever? Also is it any 3 unpaid items or the same one?0
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Not 100% on it but i think it's a flat 3 returns ever. You wont get charged for any returns but I wouldnt rely on any buffer there might be. You will definately get 30 days notice in writing if the account is being closed as a result of returns so you can put into place alternative banking arrangements.0
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I have a basic account with the co-op...will there come a point when I am able to upgrade my account please? does anyone know?
Thanks in anticipationGE 36 *MFD may 2043
MFIT-T5 #60 £136,850.30
Mortgage overpayments 2019 - £285.96
2020 Jan-£40-feb-£18.28.march-£25
Christmas savings card 2020 £20/£100
Emergency savings £100/£500
12/3/17 175lb - 06/11/2019 152lb0 -
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Co-Operative don't do direct upgrades. You will have to apply for a current account and pass the normal criteria I'm sorry.
Thanks. I guess I ought to check my credit file then.GE 36 *MFD may 2043
MFIT-T5 #60 £136,850.30
Mortgage overpayments 2019 - £285.96
2020 Jan-£40-feb-£18.28.march-£25
Christmas savings card 2020 £20/£100
Emergency savings £100/£500
12/3/17 175lb - 06/11/2019 152lb0 -
Right, I've viewed my report and apparently I have 3 bills outstanding-that I put in my BR a few years ago... how can I get them changed please? can I get them changed?GE 36 *MFD may 2043
MFIT-T5 #60 £136,850.30
Mortgage overpayments 2019 - £285.96
2020 Jan-£40-feb-£18.28.march-£25
Christmas savings card 2020 £20/£100
Emergency savings £100/£500
12/3/17 175lb - 06/11/2019 152lb0 -
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