hsbc decided to charge £25 for overdraft I've had 15 years

whatyadoinsucka

I've had an overdraft for years with HSBC.
and i got the overdraft review letter and just by chance read the detail as i had 5 mins to waste.

anyway. they have decided to charge me an arrnagement fee of £25.

I rang them to confirm this, and the fee will stand.
I then said just cancel the overdraft completely.
(i was fuming)

I'm guessing its because of a mistake at xmas.
At xmas i was told at work that my pay would be on a tuesday, it was actually a wednesday.

therefore my usual transfers and payments to my other bank account took my balance £500 over overdraft limt, i checked the bank same day and rang them to sort out, and transfered some money to cover what they said would be paid out.
subsequently more money went out that the call centre advisor hadn't mentioned would. therefore was £1500 over limit (ie into unauthorised overdraft)

long story short i got a refund on charges admin fee at the time.
This was the first mistake in 15 years.

I now have been penalised on my overdraft.
any thoughts what i can do etc.
anyone had similiar issues

Lokolo

It's in the T&Cs. Maybe if you had read these then you would understand the charge; whether you can get it refunded etc.

What is our fair fees policy?
Our fair fees policy means that we won't charge you for agreeing either a formal or informal overdraft request unless they occur frequently.
We won't charge an arrangement fee if we haven't agreed to an overdraft request from you within the last six months.
We won't charge you more in arrangement fees than the overdraft requested (e.g. a £15 overdraft will not cost you say, £50).
We won't charge you an arrangement fee for an overdraft request of £10 or less.
We won't charge you additional fees if it's the overdraft fees (or interest) that have taken you overdrawn, or further overdrawn.
We will not charge you more than one arrangement fee a day.
We won't charge you an arrangement fee for informal requests if your account is credited with covering funds by the end of the same day.

whatyadoinsucka

Lokolo wrote: »

It's in the T&Cs. Maybe if you had read these then you would understand the charge; whether you can get it refunded etc.

yeah i've read it, and in fairness itisn't written in clear english

"We won't charge an arrangement fee if we haven't agreed to an overdraft request from you within the last six months."

i'm guessing as the account went overdrawn, they are taking this as 'an overdraft request' from me. Is this correct thinking

Lokolo

whatyadoinsucka wrote: »

yeah i've read it, and in fairness itisn't written in clear english

"We won't charge an arrangement fee if we haven't agreed to an overdraft request from you within the last six months."

i'm guessing as the account went overdrawn, they are taking this as 'an overdraft request' from me. Is this correct thinking

Yep.

An overdraft request can be formal or informal. Formal is obviously you wanting more overdraft and doing a request online. Informal is when you go over your overdraft by spending too much etc.

If you are going over your overdraft by such amounts it maybe worth doing a budget to get out of it forever.

whatyadoinsucka

thanks for the first comment, on the final comment

Lokolo wrote: »

Yep.

If you are going over your overdraft by such amounts it maybe worth doing a budget to get out of it forever.

I never said i am in my overdraft, as stated above i get paid a monthly salary into this account and transfer moneys to mortgage / joint / another account. the credit hit a day later than expected

I'm not in need of a budget, i've not used the HSBC overdraft in 10 years, but its a nice to have.

JohalaReewi

The HSBC overdraft review fee does the rounds every year. Search is your friend...

Try
https://forums.moneysavingexpert.com/discussion/785795