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HSBC automatically renewing my overdraft?
snowqueen555
Posts: 1,590 Forumite
The OD agreement It was set to expire, but I've noticed on my online banking they've just renewed it for another year, will they charge me for this, or can they even do this without my permission?
Thanks
Thanks
0
Comments
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Most banks do it. And no they don't charge. Whether HSBC do or not, you'd have to check their T&Cs
If you have a problem with it, just call them and ask for the facility to be removed."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
I think HSBC do charge arrangement fees for their overdrafts.
If you don't want it - cancel it - BUT don't whinge if you accidentally go overdrawn and incur charges.0 -
jonesMUFCforever wrote: »I think HSBC do charge arrangement fees for their overdrafts.
If you don't want it - cancel it - BUT don't whinge if you accidentally go overdrawn and incur charges.
But not when they renew.
http://www.hsbc.co.uk/1/2/overdrafts"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
.........Unless they have exceeded the facility within the last 6 months.0
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No I have not exceeded the limit and I am not using it either, the spiel on their home pages says they won't charge because of this, so I'll wait and see...0
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Hi,
They are always renewing mine automatically every year but have not charged me for the luxury. They will charge me £25.00 if I have recently gone over my limit though.DEBTFREE AND PROUD!!0 -
You won't be charged for simply having the facility to go overdrawn by a set amount. You'll only incur charges if you actually go overdrawn.snowqueen555 wrote: »No I have not exceeded the limit and I am not using it either, the spiel on their home pages says they won't charge because of this, so I'll wait and see...
As others have said, if you don't want it at all you can ask the Bank to withdraw it. Remember, though, that it can be a welcome "safety net" at times as long as it isn't abused.0
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