Hsbc overdraft fee

mummy2threeboys

hi im very very confused , had a letter today saying i can keep my overdraft , the fee has always been £25 a year. Theres no mention of this but does mention total charge for credit for this facility is £159.28!!! so unless i clear my od with you before 11 november you will charge me almost £160 on top of monthly od fees??
Or does this mean something else..so sorry if im daft as a brush today very tired! Thanks for any help x

InsideInsurance

Would need to see the exact wording but typically you will get a quote for the total cost of credit, ie what the interest/ fees total would be if you lived perminately at the maximum OD for a year.

dotdash79

What they are saying if that if you lived to the limit of your overdraft for the whole of the next 12 months then the total interest for the next 12 months would be 159.28.

mummy2threeboys

oooh fantatsic thanks..i thought they wanted to take out all that money in one go as a fee for keeping the overdraft..phew! Thanks so much for replying xx

dotdash79

But it shows how expensive an overdraft is