HSBC charging me £150 next month!

skeen08

HSBC have hit me with a £150 fee next month in overdraft charges. I have had this problem before...they have previously charged me £100. I think another time they charged me £50, they've charged me a bunch of £25's. I've paid a lot of these fees in the past 12 months. It's gotta be somewhere in the region of £500.

A lot of times it's due to a mistake on my part...I've shuffled funds around and screwed up, resulting in my balance going into the negative due to transactions coming out that I forgot about, and various of other scenarios.

A lot of other times I have just decided to swallow the fee in order to get some much-needed cash.

But these fees seem a little ludicrous to me. £150? Are they allowed to charge me that much?

mintedmatty

If I am still correct it is £25 per transaction that has taken you over your limit? so you have had 6 dd's/so's go out of your account? it is always a month in arrears so if you have just received the letter, it should go out next month?

Im sure there is an ex/current HSBC employee who posts on here who could clarify?

nluk100

Move banks (or at least threaten to and see if they back down). I'm with LloydsTSB and occasionally go beyond into my overdraft for a few days, but I normally get charged just a couple of quid!

Are you actually going into an agreed overdraft or un-authorised overdraft - big difference between the two as far as the banks are concerned. Maybe ask them if they'll increase your overdraft limit slightly (but be wary of relying on this too much as it will get you further into the red!)

Lokolo

Every transaction that takes you into unauthorised (or further into) overdraft means you will incur a £25 overdraft fee.

This is to a maximum of £150 a month.

Lokolo

nluk100 wrote: »

Move banks (or at least threaten to and see if they back down). I'm with LloydsTSB and occasionally go beyond into my overdraft for a few days, but I normally get charged just a couple of quid!

Are you actually going into an agreed overdraft or un-authorised overdraft - big difference between the two as far as the banks are concerned. Maybe ask them if they'll increase your overdraft limit slightly (but be wary of relying on this too much as it will get you further into the red!)

edit 1023.....

That is in your authorised overdraft. You would be charged as the OP has, if you went over this. I think Lloyds is £22.

skeen08

Yes, this is an unauthorized overdraft. Funnily, I have applied for an overdraft with HSBC a few times in the past, and they have rejected me each time - even though my credit is pretty good (I have been issued with a low-interest Barclaycard recently, with a 1k limit).

Do I just have to swallow this? If so, I'll at least try and get them to reduce it...

Lokolo

skeen08 wrote: »

Yes, this is an unauthorized overdraft. Funnily, I have applied for an overdraft with HSBC a few times in the past, and they have rejected me each time - even though my credit is pretty good (I have been issued with a low-interest Barclaycard recently, with a 1k limit).

Do I just have to swallow this? If so, I'll at least try and get them to reduce it...

I suspect it will be your internal rating rather than external as to why you were rejected, given you said in your OP you have done it a numerous times before.

If you can, try and use the Barclaycard overdraft to stop you from going into the HSBC unaothorised. Ideally you would never have to use overdraft what so ever.

If its the same DDs that cause this, put a big sheet of A4 with the dates (or if you have a calendar use that!) so that you can check a few days before to make sure you have enough money in there. And if you don't, you can transfer Barclays money over.

skeen08

This is actually why I got the Barclaycard. I am not using the credit as "extra money"...I am using it in place of the funds in my HSBC account, and then just paying it off every month. (Well, from now, anyway.)

I'll have to just give them a ring and see if they can at least lower the fee. There has to be something that can be arranged.

NateDrake

Hi sorry to jump into your thread, but how did you get on?

We have been charged £150 for months now.

Speak soon!

st3vieg

I have also been charged this ludicrous £150 It is for exceeding your agreed overdraft.
This last time i extended my overdraft with them in order to accomodate the charge, they are very poor in terms of informing oyu that a charge is due. For example you may go over a couple pounds each month ac ouple months consecutively, this would still lead to the £150 and they dont notify you. Losing £150 in one month obviously makes funds tight the next and the charge reoccurs. It is a farce.

I posted on this topic some time ago but i cant find the thread (help)

I jsut cant see how charging £150 for going over can be allowed?

Anyone know?