HSBC £100 informal overdraft arrangement fee

Charismac

We got ourselves in a bit of a silly financial mess over the summer and the result was that we exceeded our overdraft limit by up to £287.05 for a period of 5 days. This is unusual for us, we've barely even used the arranged overdraft in the last 12 months. We've now got impending charges of £7.23 interest and £100 informal overdraft arrangement fee. I thought fees had to be realistic these days. Can they really do this? Why didn't they just refuse our debit card or something helpful?

I know it's our fault but arrrrgghh!

callum9999

Charismac wrote: »

We got ourselves in a bit of a silly financial mess over the summer and the result was that we exceeded our overdraft limit by up to £287.05 for a period of 5 days. This is unusual for us, we've barely even used the arranged overdraft in the last 12 months. We've now got impending charges of £7.23 interest and £100 informal overdraft arrangement fee. I thought fees had to be realistic these days. Can they really do this? Why didn't they just refuse our debit card or something helpful?

I know it's our fault but arrrrgghh!

If you go into the branch and apologise about it, point out that its the first time you've made the mistake and vow to make sure it doesn't happen again, they may waive all or most of the £100 fee.

They did for me (but then I was under then 18 so shouldn't have been allowed to go overdrawn at all) and I've seen it work in many other banks. Maybe someone else can advise how lenient HSBC are.

Lokolo

HSBC charge £25 everytime you use your account that takes you into, or more into, your unauthorised overdraft. So if you had gone over your overdraft for a month, but not used your account, you would have been only charged £25.

HTH.