Hsbc warning!!!

katelangton

HSBC A WARNING

To my utter horror whilst in Asia my card stopped working, i contacted my bank and they said i have insufficient funds. insufficient funds?? what of the overdraft i've had access to for the last 7 years? Apparently, despite knowing very well that i was traveling the world they decided the best course of action was to withdraw my overdraft by letter to my home address - which of course i could not read.

So a warning to all travelers: they may leave you stranded like they've left me. Luckily the hostel has a good movie selection and free internet because that's now all i can afford to do.

phatbear

Maybe, if they did know you were travelling the world, that you were a risk regarding paying the overdraft off, as an hsbc customer/share holder I cant see a problem with their actions, however if you had sufficent funds in your account that would be a different matter.

Mk14:37

Are you a graduate and previously held an HSBC student account? They do write annually to review the overdraft facility, I'm surprised that you haven't realised this over the course of 7 years.

ferf1223

maybe this will make me sound really awful...but you went travelling the world without plenty of funds in your account to pay for your travels?

I guess I see an overdraft as an emergency thing and never factor it into my plans when we're going away - so it's there if there is an emergency we didn't plan for....I know a lot of people approach an overdraft as extra money for anything.

Inactive

Not just HSBC, any bank can withdraw an overdraft in this way, they have done nothing wrong.

Doshwaster

I graduated 15 years ago but I still get an annual letter "extending" my graduate overdraft for another year. I haven't been overdrawn in years but it's nice to know the facility is there when I need it. Hopefully they'll keep it there until I retire.

814man

Travelling the world on an overdraft. As already mentioned by others, thats a pretty stupid thing to do in my view. Try saving for your holidays next time like the rest of us.

littlereddevil

814man I don't think everyone saves for their holidays nowadays!
Although I personally can afford to travel anywhere I want I know loads of people who book their holidays on credit cards.

Doshwaster

littlereddevil wrote: »

814man I don't think everyone saves for their holidays nowadays!
Although I personally can afford to travel anywhere I want I know loads of people who book their holidays on credit cards.

Booking holidays, flghts and hotels on a credit card is ALWAYS a good idea as it gives you protection that cash and debit cards don't and they are always useful for emergencies when travelling - but always be prepared to pay the credit card bill when it arrives.

Rainbo

I don't see how they did anything wrong but of course their timing couldn't be worse.

My partner had an overdraft facility halved at the drop of a hat because it was never used. I understand them getting rid of it if its not used.

martindow

Apart from the overdraft issue it does not seem sensible travelling with only one source of cash.