SHOCKED by new hsbc bank charge..

josiejo.wales

well to me its new anyway. I wonder whether ive not been charged before as i was on a student account.

Anyway - i have had an "informal" overdraft fee from HSBC for this month of £88. This because i went overdrawn £89. They say they would charge me £25 for each transaction (which would have been more - but instead, to make it cheaper they charge £1 less that the amount i went over)
I went over on the 13th (by debits which took too long) and was cleared by my pay on the 16th. I just read this new dealthing about a grace period for paying it back. surely 3 days isnt very long - and besides the point... if this is how they charge then NOTHING has changed since all this court stuff started. i cant affor those types of charges - anyone any advice? how would i ask them to "waiver" it? i cant imagine them doing it!! is this a ridiculous amount of money? it sure seems to me. thats like a MASSIVE amount of interest!

dunstonh

I went over on the 13th (by debits which took too long) and was cleared by my pay on the 16th.

If the debits took "too" long then you woudlnt have gone overdrawn. The longer they take to hit your account, the higher your unreconciled balance is. I think what you mean is you didnt keep a running, reconciled balance and forgot about them.

I just read this new dealthing about a grace period for paying it back. surely 3 days isnt very long

3 days is plenty for those that would be horrified that they have taken bank money without permission. It is there to cover the occasional brief blip.

i cant affor those types of charges - anyone any advice?

Learn to control your finances and dont leave it to the bank to do it. Keep a running balance which includes items that have yet to clear through the account. If you leave it to the bank, they have to charge you for the time it takes to look at it and make a decision.

how would i ask them to "waiver" it?

Most of the banks do refund if you ask nicely and its your first mistake. So, do ask them. However, do not go in with all guns blazing. Do not mention unfair bank charges (as they are not). Explain your error and be contrite.

? it sure seems to me. thats like a MASSIVE amount of interest!

its not interest. It is a charge for them having to do work.