HSBC Student A/C:too good to be true?

veryfastguy

MoneySavingExpert.Com Best student A/Cs guide includes HSBC which unlike the others says there are NO FEES if you exceed your agreed overdraft. Is that correct? Seems too good to be true since all the others have fees (eg £10 per item for each attempted payments) &/or %interest. Presumably HSBC just stop any DirectDebits & Standing Orders, & any Debit Card payments/ATM cash attempts just get refused, but without charging.
Does anyone know of any more current accounts that just stop you paying for anything when you run out of money so they never let you go over the limit & hence don't charge fees? I know savings accounts work like that but they don't have Direct Debits or cheque books.

The_Jakal

It doesn't mean that there's no fees they just simply won't let you even go over the limit.

Any purchases you try to make will just be declined.

veryfastguy

I finally got a reply from them & they will let you go over the limit & they will charge you fees. The example I asked them was if I have reached the maximum agreed overdraft amount in the account & I spend £25 more in a shop with the Debit card what happens? They said HSBC would charge £25 for unauthorised exceeding of the overdraft & then they'd expect me to pay back the £25 that I'd overspent (& the £25 fee) immediately to avoid further fees.
Certainly not fee free!