HSBC bouncing payments when money paid into account same day

Iamfedup

The joyous HSBC have bounced a payment when I made sure money was paid in the same day to cover the payment.

This has resulted in a £25 fee and a late payment mark on my credit file from the payee.

As far as HSBC are concerned they said i had to call them before 3pm to inform them that money had been paid in so they could make sure the payment was not bounced.

Surely their systems can see that anyway without me having to call them to inform??

Are these sorts of charges fair? £25 seems a lot of money for a fee anyway. Would I have a leg to stand on if I appealed against the fee?

Thanks

Randvegeta

Iamfedup wrote: »

The joyous HSBC have bounced a payment when I made sure money was paid in the same day to cover the payment.

This has resulted in a £25 fee and a late payment mark on my credit file from the payee.

As far as HSBC are concerned they said i had to call them before 3pm to inform them that money had been paid in so they could make sure the payment was not bounced.

Surely their systems can see that anyway without me having to call them to inform??

Are these sorts of charges fair? £25 seems a lot of money for a fee anyway. Would I have a leg to stand on if I appealed against the fee?

Thanks

Is it your first time? If so, they generally give you the benefit of the doubt and refund. But only if it is the first time.

Have they ever made a mistake with you before, where it is OBVIOUSLY their fault? If so, make a big fuss over it and you will probably get the money back and maybe some compensation.

I've banked with HSBC, practically my whole life.

The first time I made a late payment or went beyond my overdraft limit, they charged me, to which I politely explained it was a simple oversight and wouldn't happen again. They gave me my money back. All future incidences (about 2 or 3 in total), I had to suck up the payments, which I accepted.

In 2010, I signed up for text alerts as it came free with my Advance account. Having reverted back to a normal account, those texts were 2.50 /month, so I decided to cancel the service. They charged me every month for the next 8 months. Each month I sent them an E-Mail and they gave me my money back.

In 2011, there was a misunderstanding over my investment accounts and I ended up going into an overdraft of about 5,000 for a period of 12 hours. This resulted in a that hefty 25GBP charge, to which I raised hell over!

They said it was my mistake and I must pay the charge. I proceeded to point out that they have repeatedly charged me a service I canceled 8 months ago. I had visited the branch several times and waisted several hours to try and sort it out. And that if it was fair to charge me for a simple, minor mistake, it would only be fair that they compensate me for those charges they gave me every month.

Eventually, they refunded me 25GBP, and gave me 50GBP compensation for the 8 months of wrongful charges. Hardly worth the time and/or effort but it was all resolved in the end.

Still a happy customer!

meer53

Iamfedup wrote: »

The joyous HSBC have bounced a payment when I made sure money was paid in the same day to cover the payment.

This has resulted in a £25 fee and a late payment mark on my credit file from the payee.

As far as HSBC are concerned they said i had to call them before 3pm to inform them that money had been paid in so they could make sure the payment was not bounced.

Surely their systems can see that anyway without me having to call them to inform??

Are these sorts of charges fair? £25 seems a lot of money for a fee anyway. Would I have a leg to stand on if I appealed against the fee?

Thanks

If you've not had any refunds previously then you may be lucky and they might refund the fee for you. It's just not possible for someone at HSBC to sit and monitor your account all day to see if you have paid in. Did you call them when you'd paid the cash in ?

Gromitt

Iamfedup wrote: »

Surely their systems can see that anyway without me having to call them to inform??

As far as their systems are concerned, the payment is registered to be paid at the end of the working day prior to the due date, so if it was due today and you didn't have the money in there by end of day Friday, it would automatically bounce the payment and apply the appropriate fees, unless you ring to inform them otherwise.

mgdavid

get the funds in the day before, not the same day
Simple.

Iamfedup

thanks everyone! I have always had DDs set up to come out on pay day but think i will move them all to day after payday to make sure this does not happen again!

Starbrite

Don't get me started on Nationwide, they also do this it's ruddy annoying..... But hey ho I just make sure I've put money in day before, yet sometimes I do forget and get a £15 charge

YorkshireBoy

Iamfedup wrote: »

I have always had DDs set up to come out on pay day but think i will move them all to day after payday to make sure this does not happen again!

Why sail so close to the wind?

Best to allow a week or so.

I remember a few years ago the BACS system crashed and many people didn't get their salaries (via BACS Direct Credit) paid on time.

Rupert_Bear

Iamfedup wrote: »

The joyous HSBC have bounced a payment when I made sure money was paid in the same day to cover the payment.

This has resulted in a £25 fee and a late payment mark on my credit file from the payee.

As far as HSBC are concerned they said i had to call them before 3pm to inform them that money had been paid in so they could make sure the payment was not bounced.

Surely their systems can see that anyway without me having to call them to inform??

Are these sorts of charges fair? £25 seems a lot of money for a fee anyway. Would I have a leg to stand on if I appealed against the fee?

Thanks

The code of banking. They deal with debits first and then credits. Always been the same.

Gromitt

Iamfedup wrote: »

thanks everyone! I have always had DDs set up to come out on pay day but think i will move them all to day after payday to make sure this does not happen again!

What happens if you pay is a few days late, then what?

Best to make it a week after you have been paid.