HSBC - accidentally went overdrawn - credit report?

northern_at_heart

Hi,
We have a joint account with HSBC for bills which doesn't have an overdraft and which we've never gone overdrawn before (nor have I ever gone overdrawn on my own current account, also with HSBC). I normally check my accounts everyday and am 100% on top of things. However I made a mistake and got some dates mixed up, with the result that unexpectedly two debits went out making us £50 in debit. This was yesterday (26th) and as soon as I noticed today (27th), I transferred some money over to put us back in credit. So it was only overnight that we were overdrawn.

I guess HSBC will charge us their £25 fee for this which is fair enough (I'm kicking myself!) - when will this fee be charged, by the way? - but I'm more worried it will show up on my credit report, which has been squeaky clean until now and which I'm quite OCD about. Is this the case? Is it a big deal? We have a mortgage already but might want to remortgage in a year or so when our fixed rate ends...

I'm so annoyed with myself!

elaine12022

MIght be worth seeing if HSBC will waive the charges, they have done it with me in the past, where it's a one off situation, although the amount I went over was probably less.

I don't think it should be a problem with the credit file, although i've never had a mortgage so dont know regarding that.

FullTimeBadMan

As long as you brought your account back into credit on the same day, you ought to be fine. Give their customer service a ring and find out?

Paddy_Boy

In terms of the credit report, I had the same thing happen to me in the beginning of the year. I found out that if the debits were paid and not returned then it will not effect your credit report, the only thing it could effect is the internal rating you have with the bank, however just one time is not likely to have that much of a downside, this is an individual thing with each bank having its own rules, but my thing was with the same bank as you.

My credit report that I got this month showed no changes to it.

If the items had been returned and not paid then I believe this would be displayed on your report.That is when you get the mark for default/missed/late payment.

Hope this helps, as you sound just like me when it happened earlier this year.

Sharon87

You may be lucky, as HSBC don't usually charge the £25 arrangement fee unless you go over your limit twice within 6 months (for my account at least) they may charge you interest on it though, but shouldn't be much.

They will inform you of any charges and when they will take them out on your online banking.

pleasedelete

Is hsbc on your credit report?

None of my hsbc accounts are. Natwest is but not hsbc- always wondered why

northern_at_heart

Hi, thanks for all your comments. I'll wait and see if they inform me of a charge and then give them a call to see if there's any chance of waiving it.

Paddy Boy: yes, the payments went out OK and were not returned so fingers crossed I might get away with it.

Pleasedelete: Yes, both my HSBC accounts are on my Experian credit report.

turbo.jet

In my experience they are pretty good, with a history like you described you shouldn't get charged a fee unless you do it again within 6 months. There was a time you'd be stung £25 per transaction but this was ruled unfair and people claimed it back from them.

When one does get charges, they do appear in Internet Banking, but not straight away. It also tells you the date they'll actually take the money. It comes up in red saying "fees and charges are due to be applied to this account" and you click it for details.

Let us know how it goes.