Overdraft and wretched bank

NaomiJane_2

hi there I'm not sure if thisis the right place to put this post so fel free to yell at me lol.

When I started university last year i took out a student accont with HSBC. Since thenI have left university as the standered was deplorable and I was unhappy there. the bank had given me an overdraft of the thousend and I had spent it on a laptop a printer and the deposite on my shared house. when I decided to fully leave uni i.e not go back in october I informed the bank about these changes and they changed my acccount to a current basic account telling me ( unfortunaty not in writing) that my overedraft would still be interest free. I got a letter this morning telling me that I had interest on this overdraft of £5.00 not much I know but it as still a shock and when I rung up the bank I was informed that they would be charging me 15% interest now I find that dusgusting as if I had known I would have made other arrangments. I am planning to go into the bank to talk to somone about this but as my bank will not let me make an oppointment to talk with someone I may have to take the whole morning if not the whole day to do this.

I would just like to know if anyone knows anything about the normel way of things with overdrafts and if 15% is normal and lso if anyone else has had dealings with HSBC and could give me some advice as I'm only 21 and not very good at all this stuff

xxx
Naomi

Broken_hearted

Be careful as the bank will most likely try to sell you a loan to pay it off.

CLAPTON

take broken hearted advice and be careful they don't sell you a loan instead.

try asking for a temporary period ...say three months of interest free overdraft to clear it.

as you will know by looking at their website (always be well prepared for any meeting (useful tip now you're in the world of work presumably)) the standard HSBC overdraft rate is 15.9% .

you said that had you known, you would have made other arrangement..why can't you still do that?

whatatwit

I am unsure as to why they won't give you an appointment to discuss this. If you turn up without an appointment, usually banks will just fob you off and say there is no one available.
You could be crafty and say you have come into a large sum of money and wish to discuss investing it with them. I bet an appointment will be made as quickly as possible.

Are you now working? If you post a SOA (see Southern Scousers sticky thread for more info) the wonderful people on here will be able to advise the best way of managing your income and expenditure to enable you to clear the overdraft as soon as possible.