Any idea's?

lilysgarden

Hi, I'm really stuck on the best way to proceed with my banking problems.

I have officially given up on HSBC after constantly asking for my overdraft to be increased in order to cover outgoing bills and avoid charges while I sort my finances out.

I've recently graduated and as a mature student, I started uni with existing debts which I've worked hard to continue paying. HSBC have continued being useless since I became a student, and as a result, in the last 5 months alone, I think I've paid about £600 in charges with them.

I've now opened a bank account elsewhere and intend to close my HSBC accounts as soon as possible and transfer everything to this new account. However, I need to find a way of clearing my £900 overdraft with HSBC before I can close the account.

The new bank are unable to offer an overdraft or loan as I only opened the account a couple of weeks ago, and I can't afford for nearly all of my months wages to go on clearing this overdraft in one go. I've now gone past trying to talk to HSBC and have no faith at all that they would let me repay the overdraft in installments.

Does anyone know anywhere I could get a small short term loan (thanks to HSBC, I have worse credit rating than ever before!) to clear this overdraft with them and start fresh with another bank? I'm absolutely desperate to cut all ties with HSBC now and can't stand the thought of staying with them for any longer while I try to clear the overdraft!

Thanks, Nikki

epsilondraconis

Do you have a virgin credit card with sufficient credit on it (which ideally doesn't already have a balance on it)? If so, you may be able to perform a super balance transfer whereby you transfer money from your credit card to your current account for the balance transfer fee of (typically) 3%.

That's one option.

I'm sure you'll get many more.

lilysgarden

Thanks for the idea, but sadly I even got refused a Virgin credit card last year! I would apply again as I'm now working full time on good money, but I'm anxious about applying for anything in case I keep getting refused! I've a feeling this will continue to be one big nightmare for quite a while yet....:mad: