hsbc debit intrest charge

jayjayobrien

went overdrawn by about £50 last month and hsbc have decided to charge me £100.68 for the interest on £0.68p from the dates
05 Jan 2010
04 Feb 2010
is this right???

it has happened before a while back and i just can't afford to be paying £100 for 68p??

any ideas?

jayjayobrien

??? :-( anyone???

esmerellda

Hi Jay - you went overdrawn by £50 on which they charged you .68 interest PLUS they have charged you £100 for what? bounced DD/paid DD etc ?

jayjayobrien

they charged £100 pound fee for the debit intrest (68p) crazy huh?

hicskis

Be nice and go and speak to someone at your branch - tell them that you're completely unhappy and that you will take your business elsewhere if they don't give the 100 pounds back.

Be ever so polite - when they say no - then tell them that you will take your business elsewhere and you will leave the account with 0.01 pence in, so that they loose the 100 pounds they took from you in administratative costs over time in keeping your account open.

Usually works - do it in person though - not in writing.

Premier_2

jayjayobrien wrote: »

...
it has happened before a while back and i just can't afford to be paying £100 for 68p??

any ideas?

What happened last time?

You need to try to understand that the £50 is not free money, but a buffer so that you don't get charged £100 for going 68p over. If you only went 68p over, you would still have a £49.32 buffer available to you.
Think of it as going £50.68p over

I could suggest that you ask to increase the buffer/authorised overdraft as this would eliminate the unauthorised overdraft fees, but even if they gave you £1000 authorised overdraft (unlikely) it still wouldn't help unless you see it for what it really is.