HSBC scraps free overdrafts for this year's graduates

shortguy4u

This change is not nice play at all...like another poster...i spoke to someone in a HSBC branch only 6 weeks ago who explained to me how the graduate account works...and the reduced steps in overdraft etc...its awfull that thye choosing to do this now.

Can anyone please tell me which bank is best to move to for graduate account?

I went to Natwest and they said that they cannot offer me a graduate account beacuse i did not have a student account with them...is that correct or rubbish?

espresso

shortguy4u wrote: »

I went to Natwest and they said that they cannot offer me a graduate account beacuse i did not have a student account with them...is that correct or rubbish?

See here.

misskool

Just went to my HSBC branch for a chat and they confirmed to me that I would get my graduate account (due to be converted 1 Sept) interest free for the first year and then get charged on my second year. Are they right?

guardianangel

Apparently thats correct if you stay with credit, however, if you go into your overdraft you will get charge for it, apparently it's like 9.something% but god only knows. I give up - the whole banking thing sucks!!! Think I'm going to clear my overdraft, cancel the account and go elsewhere!!!

maniac886

I have applied for a natwest graduate account. I have no idea whats going on with HSBC. I keep getting told different things when I ring up and still have got no letter from them!!!!

clairet707

I went into my local branch on friday to query this as I was supposed to be finishing uni next year but circumstances have changed and I now finish this year.

I was all but ready to change accounts (had already applied for student account with RBS) and just needed statements from HSBC (as I get mine online).

I checked and doubled checked with the lady in the bank and she said she hadnt even heard of anything to do with the grad account and she checked with her manager who said that there was no change, neither claimed to know anything about a change and didnt even know about the message on the website.

She said that she will ring me in about 6 weeks to clarify what is going on

I might just jump ship anyway though that will mess up my household banking as I have a joint account with my OH with HSBC and it makes it nice and easy to trasnfer money to it (he refuses to change from HSBC, even though he is paying them effectively to look after his money, grrr but thats another story:mad: )

Come HSBC tell us one way or another or else you will lose even more customers....:mad:

Stubert

I'm in my second year and don't graduate for another two years but I'm thinking about changing now. Hopefully earning enough money over the summer to take me back into the pluses and then jump ship. That and HSBC never gave me a free gift that they lure you in with...maybe somebody else will... RBS does look appealing.

Blacksheep1979

Stubert wrote: »

I'm in my second year and don't graduate for another two years but I'm thinking about changing now. Hopefully earning enough money over the summer to take me back into the pluses and then jump ship. That and HSBC never gave me a free gift that they lure you in with...maybe somebody else will... RBS does look appealing.

You probably won't need all the money - just go to another bank, explain the situation that you're not happy with how they treat graduates and that you want to switch banks. You'll more than likely be given an overdraft straight off and you can either transfer the money to HSBC or bang it in a high interest account till you graduate.

[Deleted User]

Alliance and Leicester give ANYONE a MATCHING INTEREST FREE OVERDRAFT to those that switch to their PREMIER DIRECT account :rolleyes:

johno777

Better than that, barclays just agreed to give my GF an extra £1000 free on top of £2000 overdraft she had at HSBC, £3K interest free OD sounds too good tho? BTW she didn't get a letter from the T**ts, she found out whilst asking for apersonal loan! Bye bye local bank.