HSBC Advance Account Charges

Longpot

Hi,

I have put in a claim to have my HSBC Advance Account charges refunded on the basis that I was told when I opened the account that I need to have an Advance Account in order to get an overdraft (this was over the phone, so I have no record of this).

Shortly after opening the account, HSBC cancelled my overdraft without warning, and I have never had one with them since. I have also never used, or needed, any of the benefits on the Advance Account.

This dates back to April 2005. I did try to cancel it a few times, and each time I was told that I would lose out on my preferential savings rate (something again I haven't used).

I have put in a complaint with them, and they have sent me a Packaged Bank Account: Consumer Questionnaire to complete - has anyone completed one of these, and can tell me if there are any pitfalls to avoid?

Many thanks for any advice.

Nasqueron

Pitfalls to avoid:

Asking people on a forum what to write on a form that is unique to you

Correct answer:

Fill it in honestly.

Making stuff up or looking for "winning answers" is asking for trouble as they have evidence to back them up and anything that you write that contradicts facts will kill your case

Longpot

Sorry, I should clarify - I'm not planning on making anything up, but I cannot remember all the answers they've asked for (as it was 10 years ago) - will it go against me if I can't recollect, or present evidence?

Nasqueron

Longpot wrote: »

Sorry, I should clarify - I'm not planning on making anything up, but I cannot remember all the answers they've asked for (as it was 10 years ago) - will it go against me if I can't recollect, or present evidence?

No, they accept people don't have perfect memories.

If you were sold the account on the basis of the OD which was then taken away that is a good complaint reason.

If you never used the facilities (to the best of your knowledge) then put that (they can check this so be honest).

Stick to factual points e.g. "I don't have a driving license so breakdown cover is no use" or "I have travel insurance elsewhere" or "I do not remember ever making a claim on xyz"

Longpot

Thanks - I put everything I can remember down.

I'll post back here when I hear back.

Longpot

Heard back from HSBC on Monday - they have said they've been unable to complete the investigation and have asked for a further 4 weeks.

They had the completed questionnaire for at least 6 weeks so I am a little surprised by this.

Should I just wait? Or refer it to the Ombudsman?

dunstonh

I would wait for HSBC. The FOS have their own queue and HSBC will likely stop working on it until the fOS contact them.

Longpot

Do I run the risk of HSBC just doing nothing and then I have to refer it anyway?

Is there any consequence for HSBC taking too long? Or is it simply an inconvenience to me and nothing to them?

-taff

They can ask for another 8 weeks after the intial 8 weeks if they want to, if they are being swamped by complaints.
If theyhave contacted you to tell you they need more time, then as Dunston said, if you refer it to the FOS they will stop looking at it, and you could be in for a 2 year wait with them.
I can't see how it inconveniences you because your complaint hasn't been succeessfully dealt with, so unless you are already spending money in your head and are desperate for it, leave them for a few weeks to look into it. Otherwise you could be waiting for up to 2 years.

dunstonh

Do I run the risk of HSBC just doing nothing and then I have to refer it anyway?

No. The complaints process is regulated and they have to follow through with a response.

Is there any consequence for HSBC taking too long?

Only if it is systematic and the FCA decide they have problems. The FOS can award a inconvenience amount on top if they rule in your favour if you wait for HSBC to respond (less likely to if you refer to the FOS after 8 weeks).

Longpot

Thanks for the helpful responses.

I'm not in any rush, just wanted to understand the process and consequences a bit better - thanks again