HSBC Graduate account

galzinho

hi all, first post because of how furious i am. I have got an HSBC graduate account with a £1000 overdraft, and have been using it for the last 8 months or so. problem started earlier in the week when i received a cheque from another savings account for approx £1100, which i had planned to use for xmas and paying off a credit card, but once i cashed the cheque, i looked at my account and they have just cancelled my overdraft without any warning, leaving me short for xmas. i know they could request the overdraft back at any time, but i would have expected to have given some formal notice. havent been to the bank yet, just thought i would come here for some feedback/advice first?

lilysgarden

To be honest, anything like this does not surprise me from HSBC. I'd say your perfectly within your rights to ask for the overdraft to be restarted with no additional check against your credit. They should be giving you notice before cancelling the overdraft. However, with the disgusting service I've had with HSBC since I became a student and subsequently graduated, I'd strongly recommend changing banks instead....

wenders27

i would say the same, hsbc treat their graduates appallingly! move asap!

Lokolo

I've had no problem with HSBC and I am currently a student. They even phoned me up one evening to tell me that my card was used in Japan and if I am there, I said no I wasn't. They cancelled my card straight away, new one came the next day. Brilliant for me.

But tbh, a lot of banks do this with students, not just HSBC. You didn't think they were going to let you have the overdraft free forever did you?

lilysgarden

For me it's not the case of having an overdraft. This is the bank that has told me I can't pay a flexible loan from my Lloyds account, and then charge me up to £75 a time because I go over my overdraft limit as my wages are no longer paid into the HSBC account! How on earth can any bank justify TELLING customers which account they can pay a loan from and then charge them?! Personally, I hope HSBC rots in Hades in the very near future....:mad:

reehsetin

they send me a letter every year saying when my overdraft will expire? mine's around July,
check the t&cs to see how much notice they say they will give

Lokolo

lilysgarden wrote: »

For me it's not the case of having an overdraft. This is the bank that has told me I can't pay a flexible loan from my Lloyds account, and then charge me up to £75 a time because I go over my overdraft limit as my wages are no longer paid into the HSBC account! How on earth can any bank justify TELLING customers which account they can pay a loan from and then charge them?! Personally, I hope HSBC rots in Hades in the very near future....:mad:

They charge £25 per transaction for overdraft changes (informal or formal. 1st one in 6 months is free though).

Lokolo

reehsetin wrote: »

they send me a letter every year saying when my overdraft will expire? mine's around July,
check the t&cs to see how much notice they say they will give

It says online. If you log in on the left hand side, click Overdraft (or Amend Overdraft, one of them). It says Overdraft Limit and Overdraft Renewal Date, then an option to amend or change or cancel.

vaporate

Lokolo wrote: »

I've had no problem with HSBC and I am currently a student. They even phoned me up one evening to tell me that my card was used in Japan and if I am there, I said no I wasn't. They cancelled my card straight away, new one came the next day. Brilliant for me.

But tbh, a lot of banks do this with students, not just HSBC. You didn't think they were going to let you have the overdraft free forever did you?[/QUOTE]


Beside the point. The bank has to give prior notice, usually 4 weeks I would expect.

I would suggest Natwest graduate account. Interest free for 3 years. However, they can call it in at anytime anyway.

Lokolo

vaporate wrote: »

Beside the point. The bank has to give prior notice, usually 4 weeks I would expect.

I would suggest Natwest graduate account. Interest free for 3 years. However, they can call it in at anytime anyway.

No they don't. Banks can withdraw overdrafts without notice.

vaporate

They can't advertise a interest free overdraft, take it away without 1 day notice, and slap charges.

Not in Natwest TandC anyhow. That would be an extreme case of unfairness.