HSBC o/draft charges

El_jacko

Hi

Sorry you have been probably been asked this a million times, but I've been scouring the forum and trying to get the answers I need, but a lot of the posts are over a year old, and want to make sure I'm on the right track.

My friends have just been told by HSBC that they have been Over drawn for the last 2 months, and they have are going to be charged £25.00 a day due to it. I just wanted to check that HSBC limits there un authorised o/d charges at £125 per month.? This is what I have gleamed from their website.

I also wanted to clarify if there has to be a notification process? They have not received anything from HSBC saying they were initially over drawn, and had nothing in writing to say exactly how much the charges are they owe, and when they will be taking them out.

Also is there any lee way for the bank to spread them out over a longer period, as they ad currently looking at being left with nothing to live off for the month, as a result of the charges.

Thanks in advance, and sorry if this is a question that keeps getting asked

Elly x

Lokolo

It's not £25 a day, no idea where you got this from.

http://www.hsbc.co.uk/1/2/overdraftexamples

Plenty of examples here.

As for notice and notice period, you may want to look at the T&Cs of the account, I'm sure it'll be in there.

meer53

Your friends will have received letters from HSBC notifying them of the situation. Have they moved house ? If they have, do HSBC have up to date details for them ? Think your friends may not be telling you the full story.

Sharon87

It'll be £25 charge for going overdrawn plus interest on what's overdrawn. If your friend made additional transactions whilst overdrawn this may incur more charges. HSBC charge £25 if you go over your overdraft limit twice within 6 months.