HSBC- Charges for nothing? Please help!

CharlieCoco

Hi everyone! This is my very first post so please be kind! I'm a 23 year old graduate with a £1400 overdraft and a plan to have it paid off by February. (I've already paid a lot off already). I've got a writing job that pays £14,000 a year 9-5 and a Saturday job in a coffee shop but with all my outgoings I only ever have a little bit left over each month.

I used to be terrible with money but living on my own has forced me to grow up and take responsibility so I want to pay my overdraft off ASAP. The only thing is, my bank- HSBC keep charging me £46 a month for Formal Overdraft Arrangement Fees and Debit Interest. I think this is highly unfair as I'm trying my best to pay my debt off. As I work on Saturdays I don't get the chance to go to the bank then and I'm not really supposed to use my work phone during the week either.

If I was able to speak to someone- am I within my rights to claim this back/ not get these charges in the first place?

I'm keen to get rid of the overdraft as of yet I have no savings and I plan on going travelling at the end of next year as well as start saving to buy a house.

Can anyone help advise me please? I'd really appreciate it!

beth3735

my husband works for HSBC and he says that there is a Formal Overdraft where they take an annual fee for?

He said to definatly call someone up as paying that each month isnt right.

Sorry im not much help, but I would definatly enquire about it.

CharlieCoco

Thanks for the advice and congrats for playing off so much money!

PARIS_5000

A graduate overdraft is interest free for the first year and in the second year only 1000 pounds is interest free.

If its your second year you should only be paying interest on 400 pounds.