bank refusing to cancel standing order

DramaQueen29

I set up a standing order to pay my loan due to it being cancelled earlier this year.

I had lost my job and had to cancel it however as it is with my current account bank they took the money anyway and then charged me for going over my overdraft.


So i set up this standing order then realised i had got the wrong date.
So i cancelled it and rang up to tell them this however the person on the other end was confused and didnt understand what iw as telling him.

Anyway the standing order went through so i thought im glad i hadnt set up the new one straight away


I then got a letter from HSBC saying they are refusing to cancel this standing order until the loan is fully repaid.

Can they do this? this is a standing order i set up from my account to my loan account

I didnt think they were able to?

I am trying to change my bank but sue to only recently getting a new job i havent been able to get one yet

tom188

HSBC loan?, then they can take money from your current account whether there is a standing order or not.

DramaQueen29

oh i know that, what Im questioning is can they refuse to cancel a standing order i made

Mark7799

If the standing order is to make the loan repayments (i.e going directly into the loan) then by cancelling the standing order the Bank could claim you are defaulting the loan.

DramaQueen29

o !!!!!!, i cancelled the direct debit they set up and it went through, i feel like im being watched constantly and cant get any sense out of thier call centres

Tori_Bellatrix

DramaQueen29 wrote:

o !!!!!!, i cancelled the direct debit they set up and it went through, i feel like im being watched constantly and cant get any sense out of thier call centres

If it is a SO you had set up ... I can't see why they shouldn't cancel it .... Have you spoke to anyone at the bank about it ...

tom188

Have you checked the loan terms and conditions - ie do you have to pay from the HSBC current account. Certainly this is the case with RBS and Natwest.

jonesMUFCforever

If you have a HSBC loan with repayments coming from a HSBC account then yes they can refuse to cancel either the standing order or direct debit until the loan has been repaid.

iceicebaby

Check the T&C of your loan. They are allowed as has already been said

BruceyBonus

Is it a direct debit or standing order - you have used both terms in your posts so I'm not sure which one we should be advising for!

EvilEdna_2

If it's only the date that's wrong on the SO then you could ask them to amend it to a different date. They shouldn't have a problem with that if you explain why.