HSBC Emergency overdraft

Savannah31

On a couple of occasions we have gone into our HSBC emergency overdraft. We don't have an actual overdraft with them.

We notied this month they charged us £175 for being in the overdraft by £400 for 2 weeks.

Can they really charge that much??!!! I am stunned!

paulwellerfan

if you knew that you would need an overdraft why didnt you have an authorised one.
far cheaper
i have a HSBC account that i rearly use however it does provide me with a 200 over draft if ever i needed it.
for no extra charge

GlamGirlie

So in actual fact you made yourself overdrawn without an authorised facility in place - and now you are complaining you are being charged. There is no such thing as an emergency overdraft - it's either authorised, or unauthorised.

I am always astounded by people who fail to plan ahead and speak to their bank in advance of any problems, thus putting in place a formal, approved facility which will cost little or nothing to put in place, depending on the type of facility or institution.

And I believe HSBC charge £25 each time you go overdrawn, or worsen the position, on a personal account, or £8 per day if it is a business account with no formal limit in place.