cleaned me out

rocketman_3

Hi,

I have a bank account with HSBC i also have a VISA card with them which i have to admit the payments are not up to date. Today whilst using the internet banking i have noticed that they have taken out all the money in the account to pay some of the card balance. What can i do! i have other issues as well which come under the normal claiming charges back which i am going to do. can i claim fo r the charges plus their unfair unauthorised deductions from my account.

Twinkly

rocketman wrote: »

Hi,

I have a bank account with HSBC i also have a VISA card with them which i have to admit the payments are not up to date. Today whilst using the internet banking i have noticed that they have taken out all the money in the account to pay some of the card balance. What can i do! i have other issues as well which come under the normal claiming charges back which i am going to do. can i claim fo r the charges plus their unfair unauthorised deductions from my account.

They have the right to do this under a rule called Right Of Set Off but personally I would attempt to challenge this by taking the matter to the Financial Ombudsman. See here for more information on this:

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/40/40_setoff.htm

Basically they do have right to set off any monies in the account against this debt but according to the article linked above certain conditions would have to apply. The money taken would have to be 'due and payable' and they could only take the missed payment not the full amount unless the credit card debt had been officially recalled in full. It depends really on how much they took and if it was for missed payments only. Obviously each case is dependant on individuals circumstances but it is free to do, worth a try and you have nothing to lose in challenging it. Good luck

Tootsie_Roll

Twinkly wrote: »

They have the right to do this under a rule called Right Of Set Off but personally I would attempt to challenge this by taking the matter to the Financial Ombudsman. See here for more information on this:

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/40/40_setoff.htm

Good advice to read the link to the Ombudsman site but poor advice to complain directly to the Ombudsman first. To start with you would be wasting the Ombudsman's time (or his staff) and secondly the Ombudsman does not look at complaints until the internal complaints process has been exhausted.

Initially read the information on the link and see what part applies to you, once armed with the facts call the bank and ask for an explanation.

---lee---

They can raid other accounts BUT they don't have the right to seize benefits money so if any of the money was sourced from benefits you can ask for that part of it back.