HSBC Overdraft Fee 4 days running

graith

I've been with HSBC over 20 years. I do go overdrawn and sometimes (rarely) I go past my overdraft limit. When I do, I always try to bring it back under the line as quickly as possible by moving any little bits of money I can into the account until my salary gets there.

Recently it happened and even though I brought it under the line three days running, direct debits and standing orders kept pushing it back over the line.

I got charged £25 each time!

So I got charged £100 for going past my overdraft limit on four successive days!

I tried compaining but didn't get anywhere. Think it's time you all knew and I moved my bank account :mad:

Brian

Stonk

graith wrote:

I've been with HSBC over 20 years. I do go overdrawn and sometimes (rarely) I go past my overdraft limit. When I do, I always try to bring it back under the line as quickly as possible by moving any little bits of money I can into the account until my salary gets there.

Recently it happened and even though I brought it under the line three days running, direct debits and standing orders kept pushing it back over the line.

I got charged £25 each time!

So I got charged £100 for going past my overdraft limit on four successive days!

I tried compaining but didn't get anywhere. Think it's time you all knew and I moved my bank account :mad:

Brian

It hurts, I know, but they are merely applying charges which you accepted and agreed with when you signed the T&C's of the account.

However, there is a good chance you will be able to reduce the fees to £12 per time, or removed altogether. The watchdog recently stated that it views fees over £12 to be "punitive" (rather than representing the institutions' true costs), and hence illegal.

A quick letter to them pointing this out and suggesting small claims court action should get the fees reduced. A more stern letter may get them removed. See the many threads on this site about reclaiming bank charges.

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http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

_Andy_

If you think HSBC are the only bank that would charge you for going overdrawn you are much mistaken.
You agree to the T&C. You went past your limit (without asking them to increase it, presumably), and they charged you.

ts_aly2000

When it does tend to take the biscuit is when a DD comes out for £2.10, they bounce it, and the whole saga ends up with about £170 in charges. Happened to my OH. Was 10pence short.

He went bankrupt and now they charge themselves £25 each time they write to him. :rotfl: Talk about 'inventing' money and not believing a Court/OR. It's hilarious.

Bank: Can you make a payment now?
OH: No
Bank: Why?
OH: I'm bankrupt, it's illegal for me to enter into an agreement
Bank: When can you make a payment?
OH: I can't, I'm bankrupt.
Bank: You currently owe us £3,232.10. Further charges of £110 will be applied.
OH: Ok
Bank: So when can you make a payment?
OH: I can't.
Bank: Why?
OH: I'm bankrupt, I don't owe you any money
Bank: Yes you do, you owe us £3,232.10
OH: You just said it was £3,342.10
Bank: No I didn't.
OH: Yes you did, you just said £110 was to be applied
Bank: So when can you pay it?
OH: I can't
Bank: Why?
OH: I'm bankrupt
Bank: Look, if everyone was bankrupt then no-one would have to pay!!
OH: You're catching on quick.
Bank: We shall take you to court for the monies owing.
OH: I've already been to court, a court made me bankcrupt.
Bank: Well we'll make you bankrupt again.
OH: You can't be bankrupt twice.
Bank: Yes you can, we do it all the time.
OH: Do you know what you're doing?
Bank: Yes of course I do.
OH: Then why aren't you listening to me?
Bank: I am listening to you. You are refusing point blank to pay us our money.
OH: No I'm not.
Bank: Yes you are.
OH: No I'm not, I don't owe you any money.

And so it goes on. It's quite amusing winding their people up when they don't know that what they're asking amounts to fraud. They're so arrogant and won't be told.