Hsbc student account question...?

missolivia

I opened a HSBC student account back in June 2008, used all of the £500 interest free overdraft and the account has been inactive for 3 years this month. Called up today and they were very nice but informed me my account was currently in collections, however I said I'll be crediting the account with £5k at the end of June which made them happy. They're sending me a new card, I've set up internet banking and I want to use this account from now on.

My question is...does this look REALLY bad to HSBC? From now on I plan to never go overdrawn with them, but am wondering if my £500 overdraft will be revoked or something? Also, now I've graduated do I need to let them know so they can change it over to a graduate account?

Are HSBC a good bank to be/stay with also?

Thank you

ses6jwg

I'm not surprised it went to collections - you used £500 of the banks money and then !!!!!!ed off for 3 years.

jonesMUFCforever

If you have not paid anything in at all I would be very surprised if they will let you have an overdraft for now.
You need to check the CRA 's to see what effect that going to HSBC collections has had on your credit score.

They may well grant you a graduate account but they will suspect that you have had other student accounts so any borrowing facility may be a no no .
Paying in a £5k cheque will have no bearing on whether they will lend to you or not.

HSBC are one of the world's largest banks - I do not have any advice as to whether they are a good bank to stay with.