HSBC payout times...

claire95

oh yes i will be lol x

russabbott

How long does a bank transfer take! Come on hsbc, it's not hard!

Ed_from_beds

If we owed them they wouldnt wait this long!

russabbott

Have they cleared your loan yet? I keep checking that to see if that's disappeared but still showing a debt

claire95

keep trying to get through to them, engaged all morning, think they have taken the phone off the hook

J_i_m

My advice to you guys would be that if you're told it might take upto 14 days to receive your payments then to assume it will take 14 days and focus on other things.

Crikey, I've just been informed by the FOS that First Direct will be making me offer as a gesture of good will, but expect to wait eight weeks after they have news of any acceptance for them to make their calculations, and then longer still for them to actually pay it, let alone the 20 or so months that it's already taken to get this far.

It doesn't do to dwell upon the last few days, just get on with it

russabbott

Morning money saving experts! Will today be THE day?

bandofbrothers

I'd be glad just to get some form of communication !!

russabbott

True that!

kolin_2

Ha, even though i sent a complaint off to the FOS yesterday, i had a letter through from HSBC (on the last day of the 16 weeks) when i got home yesterday, saying my complaint had been upheld, and i'm due to get £4400 back from them. (even included the green dot envelope).
HOWEVER
my loan is a graduate loan, that has not been fully paid off (there is £2200 left to pay on it). HSBC propose to use the money i'm due to get back to pay off the remainder (fair enough). BUT section 15 of my loan agreement is a Repayment Reward, which states :

"When you complete repayment of the outstanding amounts due under this agreement on the last repayment date under this agreement, we will credit the account used in repayment of the loan with an amount equivalent to 25% of the total interest paid on the amount of the loan (excluding interest on overdue sums or on sums paid in compensation for our costs in instances of default). If the loan is repaid early, or if, for any reason this agreement is terminated before the last repayment date then this clause will not be applied and no repayment reward will be payable"

so to me, what they are saying is that they will pay off my existing loan, and under this, i wont get back the £900 or so reward for completion that i would have if they had just given me back my money, and i'd continue to pay the loan off.

should i ring them and make sure i will get this back?