HSBC transfering my money without my permission?

xtiger-lilyx

So HSBC have decided that its now ok to transfer money between my current and savings accounts as they choose?

First instance of this was on 30th September, they transfered funds from my Savings to current account, without my permission in order to cover a direct debit. I then transfered remaining funds from savings to current account myself, in order to make purchases, on the same evening. After making the transfers I contacted HSBCs telephone customer services, requesting an explanation about why the transfer was actioned without my say so, and also to tell them that i didn't wish for any further transactions to be actioned without my permission, the customer advisor, explained that this was fine and no more transfers would be actioned.

The following day 1st October, I went to use my card in a shop, only to find to my embarassment my card was declined! When I returned home I checked internet banking to find HSBC had then transfered funds from my current account to savings. Again without my permission.

A few days down the line I received a letter from HSBC stating that as they could see I had deposited funds myself online they had reversed the transfer they actioned, despite my telephone call to them. I contacted HSBC again, regarding the letter and was told that all the assistant could do was apologise and issue a complaint letter.

I really don't feel that my complaint is being taken seriously by HSBC, I can't believe any competent bank does not have a telephone complaints department. I'm just sick of HSBC fobbing me off without ever giving regards to the stress theyre causing!! What to do?

Paul_Herring

It sounds like, (but not exactly like) they're using their right to set-off: http://www.moneysavingexpert.com/banking/setting-off, though the transfer from current to savings sounds highly unusual unless the balance there was negative for some reason.

Eyeballs99

Wish My bank did that for me, Would have saved me some charges that way.

even though i see your point, Banks are a law to themselves

pelirocco

Eyeballs99 wrote: »

Wish My bank did that for me, Would have saved me some charges that way.

even though i see your point, Banks are a law to themselves

Actually its in their terms and conditions , tbh I dont see anything wrong with it

xtiger-lilyx

Does the right to set off apply only to debts held with products such as loans, mortgages and credit cards? Because they werent covering a debt to HSBC, they transfered to cover a DD to my electricity provider.

And also they've not saved me any charges, as they've charged me consistently for over a year and I have always had funds available in my savings account, so I don't understand why they've suddenly taken it upon themselves to begin actioning transfers. Unfortunately their customer services seem unable to provide any solution

KingElvis

^^ that's unusual.

I have to ask politely though, why rack up banks charges if you have the money in your savings? that seems daft to me but I'm sure you have a reason.

Good luck.

Paul_Herring

xtiger-lilyx wrote: »

Does the right to set off apply only to debts held with products such as loans, mortgages and credit cards? Because they werent covering a debt to HSBC, they transfered to cover a DD to my electricity provider.

... which if it went ahead would have caused (without the transfer) a debt in your current account.

Though as I said, this doesn't sound like setting-off. Setting-off is usually a last resort when the debtor is long behind on repayments or debt. You're making it sound like an occasional occurrence when you might be going into the red.

And also they've not saved me any charges, as they've charged me consistently for over a year and I have always had funds available in my savings account, so I don't understand why they've suddenly taken it upon themselves to begin actioning transfers. Unfortunately their customer services seem unable to provide any solution

Sounds highly unusual whatever they're doing.

I suggest looking for another current account (or two) with someone else.

Lokolo

xtiger-lilyx wrote: »

I really don't feel that my complaint is being taken seriously by HSBC, I can't believe any competent bank does not have a telephone complaints department. I'm just sick of HSBC fobbing me off without ever giving regards to the stress theyre causing!! What to do?

Because people shouting down the phone solves nothing. At least in letter there is proper trace and people can be resonable.

Paul_Herring

Lokolo wrote: »

Because people shouting down the phone solves nothing.

But I'm sure it releives some stress. (Probably at the expense of the droid other end, I admit.) It's difficult to get all shouty when writing a letter with your caps lock on, and get any satisfaction out of it.

olly300

xtiger-lilyx wrote: »

I really don't feel that my complaint is being taken seriously by HSBC, I can't believe any competent bank does not have a telephone complaints department. I'm just sick of HSBC fobbing me off without ever giving regards to the stress theyre causing!! What to do?

I refuse to deal with banks on the telephone. Now if they want to deal with me they have to write.

In your case I suggest you open two different current accounts with banks that aren't in the same group and are not Santander. To make it easier choose to open a current account with a bank and then another with a Building society.

Then use faster payments to transfer money around at least a working day before your direct debits are due to be taken at off your account.

pcombo

So the bank does the OP a favour and now they dont like, If your direct debt failed then op would be on here complaining can they apply these charges to my account.