hsbc new admin fees ~warning~

billycasper_2

For as long as i can remember banks always arranged overdrafts free and as long as it was pre arranged you wouldn't occur charges for going overdrawn just pay interest.
Imagine then my disgust at hsbc's new way of making money. Obviously the charges they impose are big news at the moment and i guess there worried about that all important profit margin.
I recieved a letter today from them which at first glance appears to be just some new terms and conditions to my current account. This is quite normal and i'm sure like me you all file these letters in the bin.
However for some reason i actually read this one at least the inside cover which told me that from now on agreed overdrafts will last 6 months after which if you wish to have an agreed overdraft they will charge me an "arrangement fee" of £25 pounds.!!
I thought i'd better warn all you hsbc customer and warn everybody else that "arrangement fees" are the future of banking now we have dared to stand on there toes with regards to there unfair charges.
be careful out there.

regularsaver1

many banks charge for their bank accounts per month already and have done for some time

Crabman

billycasper wrote:

For as long as i can remember banks always arranged overdrafts free and as long as it was pre arranged you wouldn't occur charges for going overdrawn just pay interest.
Imagine then my disgust at hsbc's new way of making money. Obviously the charges they impose are big news at the moment and i guess there worried about that all important profit margin.
I recieved a letter today from them which at first glance appears to be just some new terms and conditions to my current account. This is quite normal and i'm sure like me you all file these letters in the bin.
However for some reason i actually read this one at least the inside cover which told me that from now on agreed overdrafts will last 6 months after which if you wish to have an agreed overdraft they will charge me an "arrangement fee" of £25 pounds.!!
I thought i'd better warn all you hsbc customer and warn everybody else that "arrangement fees" are the future of banking now we have dared to stand on there toes with regards to there unfair charges.
be careful out there.

Never ever ever ever ever file bank letters in the bin :eek:

It's common for other banks to charge btw

billycasper_2

Hi guys , yes yes i dont regularly file my mail in the bin, be cool. but i've never had to pay to arrange an overdraft. This is different from paying for a so called premiem account or added extras. Is this not new? do other banks charge for arranging overdrafts.?

Crabman

billycasper wrote:

Hi guys , yes yes i dont regularly file my mail in the bin, be cool. but i've never had to pay to arrange an overdraft. This is different from paying for a so called premiem account or added extras. Is this not new? do other banks charge for arranging overdrafts.?

I don't believe Nationwide charges for an overdraft

johnofhertford

You're too young. When I was a kid I remember Midland Bank causing a right media fuss when they introduced "free banking". Some of you don't know you're born!

Crabman

:rolleyes: silly old man :rotfl:

gt94sss2

billycasper wrote:

However for some reason i actually read this one at least the inside cover which told me that from now on agreed overdrafts will last 6 months after which if you wish to have an agreed overdraft they will charge me an "arrangement fee" of £25 pounds.!!

HSBC are writing to all their personal customers with new terms and conditions and a new 'Fair Fees Policy' - however, it sounds to me that you may have misread the letter.. the copy I received states that agreed overdrafts last 12 months and that:

- You will not have to pay for your first agreed overdraft request (formal or informal) in any 6 month period. Each further request in that period may incur an arrangement fee of £25.
- You will not have to pay fees for being overdrawn £10 or less
- You will not have to pay more in fees than you are overdrawn in your charging month
- You will not have to pay a fee for an informal overdraft request if your account is credited by the end of the same day.

Also. that they won't charge more than one arrangement fee a day and give advance notice of any charges..

It certainly sounds a lot better than Lloyds TSB's new policy

Regards
Sunil

bristol_pilot

This sort of approach is not new. Over 15 years ago I closed my FirstDirect current account after they first wrote to tell me they had given me an overdraft facility that I had not asked for and then wrote again a few weeks later saying that there would be a monthly charge for the facility whether I used it or not.

johnofhertford

Crabman wrote:

:rolleyes: silly old man :rotfl:

No more silly than the pathetic ramblings from most of the "victims" on this site.

johnmoney05

Well, I closed their account 3 months ago....to be honest, if bank charges me by saving money, I would keep my money in cash.