HSBC Information as of 06/07/2007

maniac886

Just found out they have changed my account into a normal bank account. God knows what they are charging me for my overdraft!!!!!!!!!

Just speaking to bank manager now!

He is ringing me back, he is gonna have a word with head office apparently because he has got conflicting information!

danish

just a quick note,the white "Student and Graduate Price List and Interest Rates" states the 9.9% interest, as we all now know.

The same leaflet sates on the front and in bold
"The interest rates and prices are correct as at 4 June 2007." So they have known for at least a month if not more.

The more I look at this the more my blood boils. I would imagine that not many grads will ever here about this untill they notice interest charged to their account.

maniac886

They have clearly broken the banking code;

Changes to terms and conditions

Changes in interest rates

4.4 We will keep you informed about changes to the
interest rates on your accounts and we will tell you
about the ways we will do this.

4.5When we change the interest rates on your accounts,
we will update the information on our phone helpline
and our website within three working days. To help
you compare rates, the old rate will also be available on

our website and our helpline.

6.3

When you become a customer, we will tell you how we

will let you know about changes to terms and conditions.
6.4

If the change is to your disadvantage, we will tell you

about it personally at least 30 days before we make the
change. At any time up to 60 days from the date of the
notice you may, without notice, switch your account or
close it without having to pay any extra charges or any
interest for doing this.
6.5

We may make any other change immediately and tell

you about it within 30 days.
6.6

If we have made a major change or a lot of minor

changes in any one year, we will give you a copy of the

new terms and conditions or a summary of the changes.


Cheeky bastages :mad: :mad: :mad:

jazz_vendor

Yeah it certainly seems like they have broken them.

Still, they might be able to get away with it though, because the Graduate Account is technically a different account with its own terms and conditions (which were apparently updated on the 4th June as danish rightly said). Either way, everyone is still entitled to the 14 day charge free cooling off period. I imagine it will take a while to close accounts at the moment though!

Still awaiting response from customer services...

Myrna_Minkoff

I just gave them a ring via the telephone banking number (I was actually told to contact them by a branch staff member a week or so ago) who told me they don't deal with graduate accounts at all on telephone banking (?!) and I'd have to go into a branch. I was trying to get her to give me info on the graduate account just to see if she was aware of the changes, but she said she know nothng about graduate accounts at all!

It's not just me who finds that a bit odd, is it..?

danish

Surely that can't be right. I just took this straight of there website:

24/7 Internet and Telephone Banking**.
** Subject to planned maintenance.

I would urge anyone effected by this to pass the message onto friends studying or graduating. I shall certainly be passing the message on to my university forum, facebook and my universities student financial advice centre.

misskool

Right, I went into my branch today and apparently they didn't know about it!!! I spoke to the person who assured me 2 weeks ago that I would contine to have the interest free overdraft and that my account wouldn't be converted to 1 Sept. The staff have now converted my account back to a student account until 1 September and hopefully I won't have any interest charged for the one day it was a graduate account. I was NOT the only one in there this morning to complain either :rolleyes:

I showed them the leaflet stating 4th JUNE and complained that they had plenty of time to send letters our.

One of the staff at my branch even said, I completely understand if you want to move banks!!

Time to send them a complaint letter for breach of terms.

Myrna_Minkoff

misskool wrote: »

Right, I went into my branch today and apparently they didn't know about it!!! I spoke to the person who assured me 2 weeks ago that I would contine to have the interest free overdraft and that my account wouldn't be converted to 1 Sept. The staff have now converted my account back to a student account until 1 September and hopefully I won't have any interest charged for the one day it was a graduate account. I was NOT the only one in there this morning to complain either :rolleyes:

I showed them the leaflet stating 4th JUNE and complained that they had plenty of time to send letters our.

One of the staff at my branch even said, I completely understand if you want to move banks!!

Time to send them a complaint letter for breach of terms.

Where did you get the leaflet from?

misskool

Myrna_Minkoff wrote: »

Where did you get the leaflet from?

arrived with my letter.

they hadn't seen it in the branch.

you can download it off their website i think. it's called charges and rates or something like that.

maniac886

Just applied for a Natwest Grad account. HSBC can shove off as far as I am concerned. I was thinking of sending a complaint but it will prob get ignored. They don't care because they will be making an absolute mint from recent graduates who have no idea about the change!

:mad: :mad: :mad: