HSBC overdraft review charges.

Laura0731

Evening, could anyone help me? I have 2 accounts with hsbc each with a overdraft applied to them. Each year I get charged about £60 on each account for HSBC to 'review' my overdraft, which always comes back to say the overdraft I have is appropriate for my accounts. Can HSBC really charge me for this every year? And do all banks do this?? Thanks in advance for any help. X

colsten

Laura0731 wrote: »

Can HSBC really charge me for this every year?

yes, if it's in their T&Cs

Laura0731 wrote: »

And do all banks do this??

no, most don't

grumbler

colsten wrote: »

yes, if it's in their T&Cs

Can you quote? Is it really £60?

What I see is:

There is no overdraft fee for agreeing a formal limit ...
Your overdraft limit will be agreed until further notice, we will review the facility annually and contact you if we will be making any changes.

http://www.hsbc.co.uk/1/2/overdrafts/details

buglawton

Cheeky. Will have my missus review moving her HSBC acct immediately.

Edit: except. On that Ts and Cs page I don't see any mention of such a review fee.

Is this an HSBC business account? Or a student/graduate account?
Anyway, big fat thread here, old but seems nothing's changed:
https://forums.moneysavingexpert.com/discussion/785795

Lokolo

You used to get charged £25 before Nov 2014 when arranging more than one OD change, increasing or decreasing, within 6 months of another change.

They have since changed this to a daily charging structure for informal overdrafts. Up to £80 a month.

Why don't you ring up and ask?