HSBC Information as of 06/07/2007

danish

I had posted my experiences of another of MSE HSBC grad account threads but I can’t seem to find it. I though I would update you with my experiences:

Over the last month I am in the process of opening a new account with Barclays after hearing about the 9.9%with my current provider HSBC. I was away last weekend (Fri/Sat) but on my return on Sunday was greeted by the grim news that HSBC would change my student account to a grad account on the 16th of this month.

As stated in the other thread, there was concerns that 30 days notice would not be provided, a breach of the banking code (6.4 I think?). So I popped into my account to check the details.

The lady behind the counter was very polite but did confirm that my account had been transferred to a graduate account at 9.9% on my overdraft. She was very shocked at the short notice and looked extra worried when I mentioned the possible breach of the banking code (also mentioning that you are considering transferring any possible saving accounts ISA/Regular savings etc as then they really start to listen).

I am now awaiting a response from her manager who at the time of my visit was enjoying lunch. I shall keep you all informed but I would beg you to pop into your nearest branch and check your account status, they could be charging you interest already, which is just damn right naughty!

Danish

p.s. You can also find out when Internet banking, saving you a walk!

misskool

:mad: :mad: :mad: :mad: :mad: :mad:

I am soooooooooooooo annoyed at HSBC. Got a letter YESTERDAY (16 JULY) saying my account had been converted on that day and that I was being charged interest for my overdraft!!!!!

This is AFTER I had gone into branch and they explained that a) I was going to be on a step-down interest-free overdraft and b) that I was going to keep my student account until 1 Sept.

What a bunch of *unsuitable words for a public forum*

EDIT: just a reminder that for people who have not received any letters, you've probably got converted without telling you. How nice of them to start charging you interest for your overdraft!!

danish

misskool, I fully understand your anger. Did you notice that on the letter you received it had to specific date just "July 2007", so sneaky.

What I would suggest you do Is make a complaint. I believe it is in clear breach of the banking code, and even if it is not its just down right naughty. The kind chap/lass at the customer service desk will help you with this or I am told you can do this online.

Keep me informed!

Danish
P.S. I only takes 3-7 days to get a grad account with Barclays with a massive overdraft (up to £3k) as long as you have 3 months statements, getting these from HSBC has been like drawing blood from a stone.

Myrna_Minkoff

My account has changed to a grad account even though I have told them twice (once in the bank, then over the phone) that in fact, I'm still a student for another year and was told that a note would be left on the account to say this.

I noticed the change yesterday when I checked my account online. And I've not received a letter from them..

Blacksheep1979

Yup received my letter yesterday and fired them off a stroppy email saying 'thanks for the 30 days notice'. Bet they're getting a few complaints about this at the moment.

Myrna_Minkoff

I'm planning on composing a complaint letter, just after I've had a look through the T&Cs.

jazz_vendor

Same experience for me Myrna, I have repeatedly told them that I'm on a four year course but still got the letter and changeover is imminent.

I think the fact that I received the letter on Saturday informing me of the charges on Monday is a joke! Also the fact that some people haven't even received the letter but have been changed already is pathetic.

As danish said, this seems to be a breach of the banking code, but could they be except because it involves a change to a new account which has its own terms & conditions?

Already setting up new account, just got to wait a for HSBC to close mine down!

Myrna_Minkoff

jazz_vendor wrote: »

Same experience for me Myrna, I have repeatedly told them that I'm on a four year course but still got the letter and changeover is imminent.

I think the fact that I received the letter on Saturday informing me of the charges on Monday is a joke! Also the fact that some people haven't even received the letter but have been changed already is pathetic.

As danish said, this seems to be a breach of the banking code, but could they be except because it involves a change to a new account which has its own terms & conditions?

Already setting up new account, just got to wait a for HSBC to close mine down!

I think the thing that annoys me more than the interest on the graduate overdrafts is the fact that there has been no notice of this - I wasn't even in the country when newspapers started reporting this! The post hasn't arrived here today yet, but I'll be furious if it doesn't contain a letter from HSBC. The 30 days notice thing is hilarious, about 10 days ago I was assured that my account was not going to change.

maniac886

Myrna_Minkoff wrote: »

I think the thing that annoys me more than the interest on the graduate overdrafts is the fact that there has been no notice of this - I wasn't even in the country when newspapers started reporting this! The post hasn't arrived here today yet, but I'll be furious if it doesn't contain a letter from HSBC. The 30 days notice thing is hilarious, about 10 days ago I was assured that my account was not going to change.

This has got to be the biggest joke. My account has changed, but when I rang them up this morning they did not have a clue about it and told me to visit the branch. I have had no letter either. What a kin joke!:mad:

Myrna_Minkoff

maniac886 wrote: »

This has got to be the biggest joke. My account has changed, but when I rang them up this morning they did not have a clue about it and told me to visit the branch. I have had no letter either. What a kin joke!:mad:

The post has turned up here now, and nothing from HSBC! I'm going to give them a ring, and see what they say, if they know about the new graduate account terms. And the fact there should be a note on my account saying that I'm still a student.