hsbc overdrawn charges advice

YorkshireBoy

DaNNo wrote: »

ive had a look and dont think i see that.

The bit about payment return fees or my speculation/reasoning for the >£50 cost?

DaNNo_3

sorry that was a reply to lokolo's message, i didnt know anyone else replied before i sent that message

Jen151

hey can you call up the bank and ask you to explain it more clearly. tell them your exact situation and ask how many charges you would incurr.

i think halifax will charge you around £25 for each time you go over your arranged overdraft limit. so you would get a £25 fine for your electricity bill, £25 for your phone, £25 for rent etc if it comes out when you have no available funds left.

am not entirely sure tho so i think its best to try and clarify with the bank, maybe go into a branch if you can xx

heloid

You will be charged once for going over your overdraft limit (£25). Once you are overdrawn past your limit you won't charged again until you go back in to your normal limit then exceed it again. Thats another £25.
You will be charged interest at 19.9% per anum on your overdraft balance on top of the charges.

DaNNo_3

so it might be best staying over my limit till i get loads of money come in rather than go back in limit then over again and back in and so on? if thats the case then i might be saved lol.

I canceled 2 direct debits last night encase i would get charged for them coming out. ill phone up the 2 companies and changed the payment day to end of month.

Thanx for your message

heloid

That was the case for me. I stayed £75 overdrawn and didn't get charged again.

Lokolo

heloid wrote: »

That was the case for me. I stayed £75 overdrawn and didn't get charged again.

So you didn't get charged for each day you were overdrawn? This is how I understood it and told MSE, but they seem to be thinking that you get charged everyday (which is clearly completely wrong). In which case, their overdraft tool is completely wrong.