Going over arranged overdraft limit - HSBC

Jules2012

Isn't it £25 charge per day with a maximum of 5 days charge?

henm2

it's basically GBP25-00 per item whilst in excess of an overdraft limit (no more than 1 charge amount a day) with a maximum charge of up to 6 items per charging month plus debit interest of course. Therefore potentially up to GBP150-00 in charges plus interest per month.

Bloomberg

Marquischacha wrote: »

Hi all

I couldn't see this exact question whilst searching the forums but please move/remove thread if it's already covered elsewhere.

Due to various issues this month I may have to go over my arranged overdraft limit until payday (31st). It's currently at it's limit, so I was planning on making one withdrawal of £60 on Saturday which would last me the week until payday. This would mean that I would be £60 over my overdraft limit for six days in total. Am I right in thinking that a one-off withdrawal which takes you over your limit incurs one penalty fee of £25? Or are there other charges/more charges?

I've not gone over my arranged limit for around six months (maybe just under six months) so am I right in thinking that making this one-off withdrawal may not incur a cost at all?

Any help would be greatly appreciated.

If you were to withdraw the £60 and subsequently be charged there is a chance that the bank will refund the fee as a good will gesture. You will of course need to contact them and ask for the money back.



I assume that you don't have a credit card but if you do and there is any remaining credit then you should use that as unlike overdrafts they have an interest free period. All the best.

Domi37

Be careful it might be more than £25... look at their page with the charges: hsbc.co.uk/1/2/overdrafts/overdrafts-charges

As it was highlighted, in that case and if it's really exceptional, it might be worth resorting to a very short term loan. If you know exactly when you can pay back,
There are many lenders who borrow for as little as 1 day (Wonga), 5 days (peachy),... you can check a shortlist here: allpaydaylenders.com

Escorcio

Yes you'll be charged £25