Advice needed re unreasonable HSBC overdraft charges

syrok

dixon-bainbridge wrote: »

I don't know about HSBC as I don't bank with them but Halifax have an service where they will text you if you go within a certain limit in your account - might be worth seeing if HSBC do something similar for future.

I asked them, HSBC doesn't provide such service while at least Halifax and Natwest will text you if you go overdrawn. However what HSBC does is call you every month trying to sell you some of their products. Disgusting if you ask me

dixon-bainbridge

syrok wrote: »

For all those keen to judge other people

Firstly, I wasn't judging the OP - we all make mistakes . The point I was making was that the post read to me that the OP was trying to pass the buck to the bank - the bank didn't tell me I was overdrawn therefore it's unreasonable and their fault. The OP made the mistake so pay it, learn from the mistake and move on.

syrok wrote: »

there can be many reasons why you can't check your balance

I find this hard to believe. I'm sure most people can see at least a balance of their account via online, cash machine, paper statement, mobile phone in 6 weeks.

talana

syrok wrote: »

For all those keen to judge other people I can assure you there can be many reasons why you can't check your balance

Such as? Give us a few..

pinkteapot

syrok wrote: »

I asked them, HSBC doesn't provide such service while at least Halifax and Natwest will text you if you go overdrawn. However what HSBC does is call you every month trying to sell you some of their products. Disgusting if you ask me

Absolutely outrageous of HSBC to assume that their customers don't need their hands held.

dixon-bainbridge

syrok wrote: »

I switched account to Halifax and got £100 incentive which paid these charges off. I suggest you do the same.

That's good advice - your bank fee's would only cost you £4 then plus you get the £5 reward each month

talana

JamieStapleton wrote: »

What I wanted was clarity on whether a banking institution have an obligation to inform you if you are overdrawn.

As above, they have done. Statements.

the original infringement was waived but as such if I continued overdrawn they would not waive again.
My question to you was ......whether a bank has an obligation to inform you that they have waived the fees for a billing period.

No. Would you rather they didn't waive any of the fees? Because they could have done that too. They've done you a favour.

dixon-bainbridge

syrok wrote: »

As it's a good reason not to leave a lot of money on your debit card accidental overdrafts can happen

You need to keep enough money in the account to stop you going into your overdraft otherwise the overdraft fees will outweigh whatever interest you receive from moving your money elsewhere!

syrok

talana wrote: »

Such as? Give us a few..

How about being in hospital, or went abroad with no internet connection. hsbc charges £25 per transaction so just in one week you can own them hunders of pounds.

syrok

dixon-bainbridge wrote: »

You need to keep enough money in the account to stop you going into your overdraft otherwise the overdraft fees will outweigh whatever interest you receive from moving your money elsewhere!

that's right but on another hand if you get your debit card stolen you don't want a big balance on it, it's a fine balance

dixon-bainbridge

syrok wrote: »

How about being in hospital, or went abroad with no internet connection. hsbc charges £25 per transaction so just in one week you can own them hunders of pounds.

That would be a pretty small minority of people. Plus if you were going abroad surely you'd organise yourself before you go?